Currencies

White House says Trump wrote Powell to urge lower rates

WASHINGTON -U.S. President Donald Trump wrote Fed Chair Jerome Powell urging him to lower interest rates, White House press secretary Karoline Leavitt told reporters on Monday. Leavitt,...

Trump administration eyes Fed vacancy in early 2026 to appoint Powell successor, Bessent says

The Trump administration is considering using the next expected Federal Reserve Board of Governors vacancy in early 2026 for appointing a successor to central bank Chair Jerome Powell, Treasury...

Brazil to investigate hot-rolled steel export 'dumping' from China, India

SAO PAULO -Brazil's government will launch an investigation into suspected export dumping of some hot-rolled steel products from China, India and Indonesia, its official gazette said on Monday. ...

The euro's big beautiful moment    

LONDON -What matters in U.S. and global markets today Investors are keeping a wary eye on the progress of President Donald Trump's One Big Beautiful U.S. tax-cutting and spending bill...

DAX Opens Higher as Investors Eye Trade Talks

The prospect of trade agreements with the United States is boosting confidence among DAX investors. Germany's benchmark index rose by 0.3 percent to 24,111 points at Monday's opening. Shortly...

South African rand steady after mixed local data, investors eye US jobs figures

JOHANNESBURG -The South African rand was steady on Monday after the release of a mixed bag of domestic data by the country's central bank, revenue service agency and National Treasury, while...

Japan's food inflation to intensify in July, survey shows

TOKYO -Japanese households will get no respite from rising living costs with a five-fold increase expected in the number of food items set to experience price rises in July, a private think tank...

French minister calls for extension of EU-US trade talks

PARIS -France's finance minister has called for extending EU-U.S. trade talks beyond the July 9 deadline in order to secure a better agreement. U.S. President Donald Trump has set the...

World economy faces 'pivotal moment', central bank body BIS says

LONDON -Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements, said in its latest...

Fed says banks can withstand economic downturn, clears way for dividend hikes

WASHINGTON -Twenty-two of the largest banks in the U.S. are well-positioned to weather a hypothetical severe economic downturn and continue lending, with firms maintaining robust capital levels even...

Summertime data to pave way for Fed rate cuts, or further conflict with Trump

WASHINGTON -An unexpected pickup in underlying inflation last month nudged price pressures further from the Federal Reserve's 2% target, putting this summer's data in the spotlight for whether the...

India's Modi to attend next week's BRICS summit in Brazil

NEW DELHI -India's Prime Minister Narendra Modi will travel to Brazil from July 5-8 to attend the BRICS Summit, New Delhi said in a statement on Friday. BRICS, founded as a grouping of...

Canada's GDP contracts in April, likely another decline in May

OTTAWA -Canada's economy contracted in April on a monthly basis, data showed on Friday, as sectors exposed to tariffs and uncertainty negated a boost from services. Gross domestic...

US consumer spending falls; tariff-related boost to inflation awaited

WASHINGTON -U.S. consumer spending unexpectedly fell in May as the boost from the pre-emptive buying of goods like motor vehicles ahead of the Trump administration's tariffs faded, while monthly...

Dollar question hovers over top central bankers meeting in Sintra

FRANKFURT -A million-dollar question will hang over the world's top central bankers when they meet in Sintra, Portugal, next week: Is the monetary system centred on the U.S. currency beginning to...

S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets

NEW YORK -Wall Street extended its rally on Friday, sending S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify...

French inflation rises to 0.8% in June as service costs accelerate

French consumer prices rose more than expected in June, ending a streak of declining inflation as service costs accelerated and energy price falls moderated, preliminary data from statistics agency...

Dollar gains as Trump reignites trade concerns

NEW YORK -The dollar retraced earlier losses against the euro on Friday after U.S. President Donald Trump said the United States was ending trade talks with Canada and that he would consider bombing...

US demand for China-made goods ebbs on tariff worries; ocean shipping rates drop

LOS ANGELES -Rates for shipping cargo containers from China to the U.S. have dropped by more than half since earlier this month, as imports rebounded less than expected after the slump that followed...