Tag: Forex News Round Up

US 10Y Hits 3% After Strong ADP

The yield on the benchmark 10-year Treasury note hit 3 percent Wednesday morning after data showed private payrolls increased more than expected last month. Wall Street also awaited the latest monetary policy decision from the Federal Reserve, due out at 2 p.m. ET. Jobs in the U.S. increased by 219,000 in July thanks to more […]

Iranian Lawmakers Summon President to Answer for Economic Struggles

Iranian lawmakers have given President Hassan Rouhani one month to appear before parliament to answer questions on his government’s handling of Iran’s economic struggles, state media reported on Wednesday. It is the first time parliament has summoned Rouhani, who is under pressure from hardline rivals to change his cabinet following a deterioration in relations with […]

China Ready to Retaliate if New Tariffs Are Introduced

China said on Wednesday that “blackmail” wouldn’t work and that it would hit back if the United States takes further steps hindering trade, as the Trump administration considers slapping a 25 percent tariff on $200 billion worth of Chinese goods. The proposal would increase the potential tariff rate from 10 percent the administration had initially […]

UK Manufacturing Slows to 16 Month Low Ahead of BoE Decision

U.K. manufacturing growth slowed more than expected last month, casting doubt on the strength of the economy as Bank of England policy makers hold their crunch meeting. IHS Markit’s Purchasing Managers Index for the industry fell to a three-month low of 54 in July, from 54.3 in June, the firm said in a report Wednesday. […]

ADP Private Payrolls Pushes USD Higher

Private payrolls in the U.S. increased by more than expected last month as companies get a boost from lower corporate taxes, ADP and Moody’s Analytics said Wednesday. Jobs in the U.S. increased by 219,000 in July, while economists polled by Reuters expected a gain of 185,000. July’s job gains were the best since February, when […]

Reserve Bank of India Hikes Rate for 2nd Meeting in a Row

India’s central bank has served up its second consecutive interest rate hike, and there could be more to come. The Reserve Bank of India raised the rate at which it lends to banks from 6.25% to 6.5% on Wednesday, after hiking it for the first time in four years in June. India is growing faster […]

Goldman Sachs Devises Different Strategies Depending on Trade War Outcome

If the U.S.-China trade war escalates, investors should be betting on domestic-focused U.S. stocks, according to Goldman Sachs. If the tensions ease, however, China-exposed companies would likely outperform, the bank said in a report released Tuesday. The Goldman Sachs analysis highlighted S&P 500 companies that have notable levels of revenue or asset exposure to the […]

Mexican NAFTA Negotiators Optimistic About Deal in Coming Days

Mexican negotiators are optimistic about the possibility of getting a NAFTA deal and are hopeful of progress in coming days, the country’s deputy economy minister said ahead of a second ministerial meeting in Washington later this week. You are going to see hopefully news coming out of Washington in the next few days. There is […]

Honda has 12 Year High Profit Despite Looming Tariffs

Honda Motor (7267.T) said the impact of U.S. steel and aluminum import tariffs on its bottom line had so far been limited, as it posted a surprise jump in quarterly profits to their highest in more than a decade on improving North American sales. The automaker also forecast a less than previously expected drop in […]

BOJ Keeps QE in Check But Will Allow Yields to Rise More Naturally

At a two-day rate review that ended on Tuesday, the Bank of Japan kept its interest rate targets steady but for the first time adopted a forward guidance on future policy, saying it will keep rates “very low” for an “extended period of time.” As its huge purchases dry up market liquidity and efforts to […]