U.S. Treasury Secretary Scott Bessent spoke with US media on Sunday. Bessent said that while he spoke with his Chinese counterparts last week during International Monetary Fund meetings in Washington, tariffs were not mentioned! Further in the interview Bessent refused to back up Trump’s assertion that Trump had spoken with China’s President Xi: “I don’t […]
Bloomberg (gated) carried comments from Gediminas Šimkus, Chairman of the Board of the Bank of Lithuania and European Central Bank Governing Council member (the monetary policy making board of the Bank). Bloomberg is gated, but in brief: ECB could lower interest rates at least two more times this year, citing: global trade weakness, largely caused
Last week, major US retailers including Walmart, Target and Home Depot met with the White House. Shortly afterwards, the stock market turned around, leading to an extremely strong week in the S&P 500. Today, Hong Kong based Ming Pao (a reputable newspaper) reports from the Canton Fair, which is an import/export fair and reported that:
Reuters ECB sources report that a consensus is building for a June rate cut. At the moment the market is pricing in 71% chance of a cut but it looks like the ECB wants to bump that up, given that this report cites six sources. The report notes that data has been deteriorating but also
At the turn of the year, it looked like a certainty that Conservatives would form a large majority in this year’s Canadian election but Trump changed everything. His harsh tariffs on Canada and unceasing 51st state talk upended the focus on housing/immigration/culture and put it squarely on sovereignty. Conservative leader Pierre Poilievre struggled to strike
Global risk sentiment showed further improvement last week, with stock markets around the world posting impressive gains. Although headlines continued to focus on the confusing state of U.S.-China trade tensions, there was quiet but notable progress on multiple trade fronts, including US talks with Japan, South Korea and India. US equities rebounded alongside the global
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any
The markets were not all that giddy about the Time Magazine interview with Pres Trump. The article addressed several key international and economic issues. He expressed no or little concern about the bond market turmoil earlier in April, stating confidence in his economic direction. On foreign policy, he asserted that Crimea would remain with Russia
GBP/USD slips despite strong UK Retail Sales as USD dominance prevails Pound Sterling gains on surprisingly positive UK Retail Sales data UK Retail Sales jump 0.4% MoM in March vs. -0.4% expected Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this
EURUSD technicals The EURUSD stretched higher in the US session, but after reaching a high price of 1.1388, and getting within four pips of its 200-hour moving average, buyers turned to sellers and have pushed the price back lower. The current price is trading at 1.13727 after reaching a post-high low price of 1.1364. Yesterday,
