US Treasury Secretary Janet Yellen said on Friday that it is worth considering steps to lower US tariffs on Chinese goods in order to ease inflation, and that there would be some “desirable effects” of lowering tariffs. Speaking in a CNBC interview earlier in the day, Yellen stated on Friday …

Data released in Canada on Friday showed a better-than-expected reading on February retail sales. Analysts point out that retail sales volumes held their own in February and March, despite the headwinds to goods spending of mounting inflationary pressure and reopening service industries. The 0.1% gain in February was a little …

The UK economy is heading for a slowdown, or possibly even a recession, as consumers and businesses are hit by the leap in inflation, higher taxes, rising interest rates and uncertainty caused by the war in Ukraine.Bank of England Governor Andrew Bailey said on Thursday the BoE was walking a …

WTI trades a few dollars lower on Friday but is within recent intra-day ranges in the low $100s. Amid a lack of fresh developments, oil traders are mulling various oil market-relevant themes.Crude oil prices continue to trade in uneventful fashion, with front-month WTI futures stuck within their intra-day ranges of …

Manufacturing PMI was a little stronger than expected, but Services PMI was much weaker than expected. The Dollar Index (DXY) did not react to the latest PMI data release. IHS Markit’s headline Manufacturing PMI rose to 59.7 in April from 58.8 in March, above expectations for a slight decline to …

Risk-off trading conditions, triggered by soaring US yields amid hawkish Fed language, led US equities to retreat on Thursday and the safe-haven US dollar has the chance to outperform, against its more risk-sensitive G10 peers mainly the other non-US dollars. The Dollar Index reversed an earlier dip below the 100.00 …

The odds of a 50 bps interest rate hike have elevated after Fed Powell’s comments at the IMF meeting. Higher inflation pressures in a very tight labor market are compelling for squeezing the liquidity. A double bottom formation has raised expectations of a reversal in the gold prices.Gold price has …

UK prepares law to give ministers power to tear up Northern Ireland post-Brexit trade deal. The UK government is preparing a legislation that will give ministers sweeping powers to tear up the post-Brexit deal governing trade in NI. Meanwhile, David Frost who negotiated the Brexit deal, and other senior Conservatives, …

Risk-off trading conditions, triggered in part by a rise in US yields amid hawkish Fed rhetoric, saw US equities dip on Thursday and the safe-haven US dollar outperform, especially against its more risk-sensitive G10 peers like the Australian, New Zealand and Canadian dollars. The US Dollar Index (DXY) reversed an …

Major US equity indices reversed early gains on Thursday amid hawkish comments from Fed Chair Powell. The S&P 500 dipped back to 4,400, having earlier rallied above 4,500 on initial strength related to strong Tesla earnings.Major US equity indices reversed early gains on Thursday as US yields rallied following hawkish …