Federal Reserve Governor Christopher Waller said on Thursday he continues to believe the U.S. central bank should cut interest rates at the end of this month amid mounting risks to the economy and the strong likelihood that tariff-induced inflation will not drive a persistent rise in price pressures. "It makes sense to cut the FOMC's policy rate by 25 basis points two weeks from now," Waller told a gathering of the Money Marketeers of New York University. "I see the hard and soft data on economic activity and the labor market as consistent: The economy is still growing, but its momentum...
Japanese stocks are lower as uncertainty over U.S. trade policy continues. Electronics stocks are leading declines. Renesas Electronics declines 1.5% and Keyence is 1.0% lower. Japanese government bond yields decline across the curve. The 10-year yield falls 2 basis points at 1.485% and the 40-year yield is down 10 basis points at 3.435%. USD/JPY is at 142.41, down from 142.77 as of Monday's Tokyo stock market close. Investors are closely watching any developments related to U.S. tariffs. The Nikkei Stock Average fell 0.2% to 37462.07 Source: Bloomberg
US stock futures jumped on Tuesday after President Donald Trump announced over the holiday weekend that he would postpone the implementation of a 50% tariff on European Union goods, extending the deadline to July 9. The decision follows a volatile week for financial markets, driven by growing concerns over the US fiscal outlook and persistent trade uncertainties. Last week, the Dow dropped 2.47%, the S&P 500 fell 2.61%, and the Nasdaq Composite lost 2.47%. Apple shares were particularly hard hit, plunging 7.57% after Trump warned that iPhones sold in the US must be manufactured...
European stocks closed sharply higher on Monday after the U.S. voted to push back tariffs on the European Union back to their original date. The eurozone STOXX 50 closed 1.3% higher at 5,397 and the pan-European STOXX 600 gained 1% to close at 550. U.S. President Trump said Friday's 50% tariffs on the EU would be delayed until July, and sounded a note of optimism about aggressive trade levies. Consistently, EU Commission President Von der Leyen noted that a deal could be reached by the July 9 deadline. As a result, sectors with a large exposure to U.S. consumers outperformed and bounced...
The U.S. dollar fell against its major counterparts as U.S. equity futures rose following President Donald Trump's decision to postpone an increase in tariffs on the European Union. The U.S. dollar index (DXY) initially dropped before recovering most of its losses during the day. Meanwhile, the EUR/USD pair rose by 0.5% before settling 0.1% higher at $1.1378. On Sunday, President Trump announced he had agreed to delay a 50% tariff on European Union imports until July 9. This decision came after a conversation with the European Commission President, Ursula von der Leyen. Trump described...
The Hang Seng tumbled 319 points or 1.4% to close at 23,282 on Monday, erasing gains from the previous session as losses spread across consumer, tech, and financial sectors. The selloff followed remarks by U.S. President Trump, who threatened a 25% tariff on iPhones not made in the U.S.—later adding Samsung would face similar treatment. iPhone supplier Luxshare slipped 0.2%. BYD tumbled 9% after launching steep discounts in a recent promotion, dragging down other EV makers: Geely Auto (-8.6%), Li Auto (-4.0%), NIO (-3.5%), and Xpeng (-4.4%). Caution also grew ahead of China's industrial...
According to a statement by the Federal Reserve (Fed), Fed Chair Jerome Powell met with United States (US) President Donald Trump on Thursday, where the head of the Fed reiterated that the Fed's...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...