The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs. Trump appeared near the point of trying to fire Fed Chair Jerome Powell this week, but backed off with a nod to the market disruption that would likely follow, and the U.S. central bank's policy rate outlook remains virtually unchanged despite the drama. Fed officials haven't mentioned raising rates, but headlines about an...
Iran fired missiles at a US air base in Qatar after promising it would respond "proportionately and decisively" to President Donald Trump's weekend airstrikes on three of its nuclear facilities.Qatar said the barrage at Al Udeid base the biggest such US facility in the Middle East was intercepted and that there were no casualties. Al Udeid is the regional headquarters for US Central Command, which oversees the American military in the region, and is home to several thousand US service-members, though many staff had been evacuated. Oil prices fell immediately after the attack, with Brent...
A fact-finding mission mandated by the United Nations said on Monday that some of Israel's strikes on Iran may have broken international humanitarian law, citing the killing of civilians in an apartment block and three aid workers in Tehran. Israel began airstrikes on Iran in a surprise attack on June 13 that killed many of Iran's top commanders and has intensified attacks since, prompting an exodus from the capital. The United States joined on Sunday by hitting Iran's underground nuclear sites. "Among those killed in Tehran were dozens of residents of an apartment complex and three...
FOMC Governor Michelle Bowman indicated that if inflation pressures stay contained, she would be in favour of lowering the policy rate at the next meeting to align it more closely with its neutral setting and maintain a healthy labour market. Open to cutting rates as soon as the July FOMC meeting if inflation pressures stay contained.Should put more weight on downside risks to the job market going forward. It is time to consider adjusting the policy rate.Trade policy only likely to have ‘minimal impacts' on inflation. Data not showing much impact from trade policy shifts.Government policy...
The economic activity in the US' private sector continued to expand at a healthy pace in June, with the S&P Global Composite Purchasing Managers Index coming in at 52.8 (flash estimate), down slightly from 53 in May. In the same period, the Manufacturing PMI held steady at 52, while the Services PMI edged lower to 53.1 from 53.7. Both of these prints came in better than analysts' estimates. Assessing the survey's findings, "the June flash PMI data indicated that the US economy continued to grow at the end of the second quarter, but that the outlook remains uncertain while inflationary...
The S&P Global UK Services PMI rose to 51.3 in June 2025, from 50.9 in May and in line with market estimates, according to flash estimates. The latest data indicated another expansion in the country's services sector that was the strongest in three months. There was a rebound in new business intakes, but the rise was only slight, while exports continued to fall. Employment also continued to decrease. Source: Trading Economics
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
It...
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...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...