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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....
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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