The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This reading came in weaker than the market expectation of 49.5. Other details of the PMI report showed that the Employment Index edged higher to 46 from 45.3 in this period, while the New Orders Index improved to 49.4 from 48.9. Finally, the Prices Pair Index, the input inflation component of the survey, declined to 58 from 61.9. Source: FXstreet
President Donald Trump said on Wednesday the U.S. will probably "live by the letter" on tariffs with Japan and may have another trade deal coming up with India, following his announcement of an accord with Indonesia on Tuesday. "We have some pretty good deals to announce," Trump told reporters at the start of a meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa at the White House. He said he would also discuss trade issues with the Bahraini leader. "The big one really is going to be on the 150 countries that we're really not negotiating with, and they're smaller -- we don't do...
U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, after a Bloomberg report that the president is likely to do so soon sparked a drop in stocks and the dollar, and a rise in Treasury yields. Such reports are not true, Trump said. "I don't rule out anything, but I think it's highly unlikely unless he has to leave for fraud," Trump said, a reference to recent White House and Republican lawmaker criticism of cost overruns in the $2.5 billion renovation of the Fed's historic headquarters in Washington. Stocks pared losses and Treasury...
President Donald Trump told a room full of Republican lawmakers that he will fire Federal Reserve Chair Jerome Powell, after receiving approval from them to make the move, a senior White House official told CNBC. Amid repeated denials from administration officials and high-ranking Republicans, the exchange came Tuesday evening in the Oval Office, following Republicans blocking a vote on cryptocurrency legislation that Trump has favored. "The President asked lawmakers how they felt about firing the Fed Chair. They expressed approval for firing him. The President indicated he likely will...
The Producer Price Index (PPI) for final demand in the US rose 2.3% annually in June, according to data published by the US Bureau of Labor Statistics on Wednesday. This followed a 2.6% increase in May and was below market expectations of 2.5%. The annual core PPI rose 2.6% in the same period, down from 3% in May. On a monthly basis, both the PPI and core PPI were unchanged. (alg) Source: FXstreet
Indonesia's president said his US counterpart, Donald Trump, is a "tough negotiator" after the two countries reached a trade deal that resulted in a reduction in proposed tariffs to 19% from 32%. The deal is one of a handful reached so far by the Trump administration ahead of the August 1 negotiation deadline, but Indonesia, Southeast Asia's largest economy and a member of the G20, has not provided further details. Trump said Indonesia has committed to buying 50 Boeing (BA.N) aircraft, opening up new jets, $15 billion worth of U.S. energy supplies, and $4.5 billion worth of U.S....
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they...