Federal Reserve (Fed) Bank of New York President John Williams predicted slightly higher inflation and unemployment through the rest of the year on Tuesday, as well as slower-than-expected growth metrics. As the head of the New York Fed, Williams is a permanent voting member of the Federal Open Market Committee (FOMC) and holds significant sway…
United States (US) Treasury Secretary Scott Bessent hit the newswires on Wednesday, giving his thoughts on the US debt ceiling, and also teased around the idea of the Trump administration introducing a “de minimis” tariff level, which would see US companies find some breathing room on tariffs up to a certain level of imports. Key…
The Federal Reserve’s (Fed) discount rate meeting minutes from April 7, 28, and May 8 revealed that policymakers are increasingly uneasy about looming economic impacts, mostly from US trade policy. Despite overall steady economic conditions, tariff uncertainty is continuing to weigh heavily on business operators, who are preparing backup plans and slowing their pace of…
Trump blasts China for supposedly violating trade agreement. MRVL sells off nearly 8% as semiconductors see multiple compressions. Germany proposes a new 10% tax on US internet platforms. University of Michigan data shows improving consumer outlook in May. US tech stocks are shedding weight on Friday following several negative news stories. The NASDAQ Composite has…
The US Dollar is tying up with gains on Tuesday, snapping the DXY’s losing streak. Fed officials still see US rates unchanged under tariff and trade uncertainty. The US Dollar Index heads above 99.00 in search of the 100.00 figure. The US Dollar Index (DXY), which tracks the performance of the Greenback’s value against six…
The Dow Jones fell on Friday, shedding 780 points at its lowest. Relief from tariff threats is over as the trade policy cycle begins anew. Markets pared back downside bets after investors remembered the odds of a tariff walkback remain high. The Dow Jones Industrial Average (DJIA) saw stiff losses during the Friday market session…
Bank of Canada (BoC) Governor Tiff Macklem and Canadian Finance Minister François-Philippe Champagne gave dueling talking points on Thursday, reviewing their G7 experiences this week. Both officials acknowledged that broad discussions about US tariffs took place, but warned that “excess capacity” may exist on the other side of US import taxes, which is the nicest…
NZD/USD drifts higher to around 0.5935 in Wednesday’s early Asian session, adding 0.18% on the day. New Zealand’s Trade Surplus climbs to NZ$1,426 million in April vs. NZ$794 million prior. The concerns over the US economy could drag the US Dollar lower broadly. The NZD/USD pair attracts some buyers to around 0.5935 during the early…
The Dow Jones rose slightly on Friday, clipping into fresh weekly highs. Equity markets shrugged off a worse-than-expected print from the UoM Consumer Sentiment Index. Investors are hoping that more clarity will come from the Trump administration on trade. The Dow Jones Industrial Average (DJIA) stepped into fresh weekly highs on Friday after investors shrugged…
The US Dollar gave back a big chunk of Monday’s strong gains on Tuesday, as markets weighed the implications of the latest US-China trade deal, easing inflationary pressures, and growing speculation that the Federal Reserve could cut interest rates in the third quarter. Here is what you need to know on Wednesday, May 14: The…