News
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ECB to cut rates again to help economy overcome trade turmoil
Deposit rate seen cut to 2.25% from 2.50%Trade turmoil to weigh on growthStronger euro, lower energy, China dumping could all lower inflationDecision due at 1215 GMT, Lagarde press conference at 1245 GMTBy Balazs Koranyi FRANKFURT, April 17 (Reuters) - The European Central Bank is expected to cut...Reuters
Wed, Apr 16
California sues Trump administration to block tariffs
California's ports and agriculture face significant tariff impactsState says Trump has no authority to tax imports 'on a whim'Trump's tariffs face other legal challenges from other statesExperts question legality of Trump's tariffs under IEEPABy Brendan Pierson and Dietrich Knaut...Reuters
Wed, Apr 16
Trump's trade war ripples through the business world, hits stocks again
Tech companies warn of financial impacts from trade warJapan faces challenges in U.S. trade talks, potential car price hikesU.S. consumer sentiment declines amid tariff concerns, retail sales mixedBy Nora Eckert, Kalea Hall and Elisa Anzolin April 16 (Reuters) - The ripple effects of Donald Trump...Reuters
Wed, Apr 16
CORRECTED-Fed's Hammack sees steady monetary policy as central bank seeks more data
Fed's Hammack sees 'strong case' for steady policy amid uncertaintyFed's Hammack said economy beset by uncertainty right nowHammack sees difficult conditions for Fed policymaking By Michael S. DerbyApril 16 (Reuters) - Federal Reserve Bank of Cleveland President Beth Hammack said on ...Reuters
Wed, Apr 16
Foreign holdings of US Treasuries rise in February
By Alden BentleyApril 16 (Reuters) - Foreign holdings of U.S. Treasuries rose 3.4% in February, data from the Treasury Department showed on Wednesday, with the two largest owners, Japan and China, building up their U.S. debt holdings.Total overseas holdings of U.S. Treasuries amounted to $8.817 tril...Reuters
Wed, Apr 16
Powell does not think Trump's labor board firings case will apply to Fed
Case over Trump firings being closely watched in Fed circlesPowell: 'never going to be influenced by any political pressure'Powell's remarks on independence draw audience applauseBy Howard Schneider CHICAGO, April 16 (Reuters) - The legal case before the Supreme Court over President D...Reuters
Wed, Apr 16
Ford Motor may hike prices if Trump's auto tariffs persist, memo says
By Kalea Hall, Nora Eckert and Utkarsh Shetti April 16 (Reuters) - Ford Motor F.N may raise prices on its new vehicles if U.S. President Donald Trump's auto tariffs continue, according to a memo sent to dealers on Wednesday that was reviewed by Reuters. The Dearborn, Michigan, automaker of...Reuters
Wed, Apr 16
INSTANT VIEW-Powell says Fed to stay on hold until clarity on tariff impact
April 16 (Reuters) - U.S. economic growth appears to be slowing, with consumer spending growing modestly, a rush of imports to avoid tariffs likely to weigh on estimates of gross domestic product, and sentiment souring, U.S. Federal Reserve Chair Jerome Powell said on Wednesday.For now, he said in r...Reuters
Wed, Apr 16
Mexican Peso rallies as USD/MXN falls below 20.00 on cautious Powell statements
The Mexican Peso continues to appreciate against the US Dollar as market appetite remains sour, while Fed Chair Jerome Powell emphasized that he remains slightly focused on inflation as the economy is near maximum employment. At the time of writing, the USD/MXN trades at 19.96, down 0.58%.
Fxstreet
Wed, Apr 16
Foreign holdings of US Treasuries rise in February
By Alden BentleyApril 16 (Reuters) - Foreign holdings of U.S. Treasuries rose 3.4% in February, data from the Treasury Department showed on Wednesday, with the two largest owners, Japan and China, each building up their U.S. debt holdings.Total overseas holdings of U.S. Treasuries amounted to $8.817...Reuters
Wed, Apr 16
Citizens Financial may slow hiring, CEO says
By Saeed Azhar NEW YORK, April 16 (Reuters) - Citizens Financial CFG.N may temper hiring as uncertainty hangs over the economy, but it has no plans to cut staff, its chief executive told Reuters on Wednesday."We may slow down new hiring a bit until we see kind of where things are going, but w...Reuters
Wed, Apr 16
LTC, BCH, DOGE Price Analysis: Nine proof-of-work coins rally on Nvidia’s $5.5 billion charge
Litecoin (LTC), Bitcoin Cash (BCH), and Dogecoin (DOGE) experienced significant rallies today, as nine proof-of-work cryptocurrencies surged following Nvidia's announcement of a $5.5 billion charge due to U.S. restrictions on its AI chip sales to China .Fxstreet
Wed, Apr 16
Fed Chair Powell: Cutting discretionary federal spending will not fix US debt problem
By Ann Saphir April 16 (Reuters) - Federal Reserve Chair Jerome Powell on Wednesday reiterated the long-held view of Fed chairs going back decades that growth in the U.S. federal debt needs to be reined in, but he suggested that politicians are going about it the wrong way. "We're running...Reuters
Wed, Apr 16
TREASURIES-Treasuries fall after Powell signals slowing economic growth
Powell warns tariffs may hinder growth and inflation controlRetail sales surge due to tariff-related consumer stockpilingU.S. Treasury yields drop amid economic slowdown fearsBy Alden Bentley, Chuck Mikolajczak and Stephen Culp NEW YORK, April 16 (Reuters) - U.S. Treasury yields fell on Wednesday...Reuters
Wed, Apr 16
WRAPUP 3-Pre-tariffs buying fuels US retail sales, weakness lies ahead
Retail sales increase 1.4% in MarchMotor vehicle sales lead broad rise in salesCore retail sales gain 0.4%; February sales revised upManufacturing output rises 0.3%; grows at 5.1% rate in Q1By Lucia Mutikani WASHINGTON, April 16 (Reuters) - U.S. retail sales increased by the most in more than two...Reuters
Wed, Apr 16
Tesla registrations slump 15% in EV-loving California
Tesla loses majority EV market share in CaliforniaBacklash against Musk's politics impacts Tesla's imageCalifornia's EV sales rise 7.3% despite Tesla's declineBy Akash Sriram April 16 (Reuters) - Californians further soured on Tesla TSLA.O in the first quarter, pulling down the el...Reuters
Wed, Apr 16
Powell does not believe labor board dismissals case will apply to Fed
April 16 (Reuters) - The legal case currently before the Supreme Court over President Donald Trump's firing of two Democrats from federal labor boards does not likely apply to the Federal Reserve, the head of the U.S. central bank said on Wednesday.Fed Chair Jerome Powell, in response to a quest...Reuters
Wed, Apr 16
INSTANT VIEW-Powell says Fed to stay on hold until clarity on tariff impact
April 16 (Reuters) - U.S. economic growth appears to be slowing, with consumer spending growing modestly, a rush of imports to avoid tariffs likely to weigh on estimates of gross domestic product, and sentiment souring, U.S. Federal Reserve Chair Jerome Powell said on Wednesday.For now, he said in r...Reuters
Wed, Apr 16
Fed's Powell: Fed stands ready to provide dollar liquidity
April 16 (Reuters) - The U.S. Federal Reserve is ready to provide dollar liquidity through its swap lines with other central banks as needed, Fed Chair Jerome Powell said on Wednesday."We want to make sure that dollars are available," Powell said in response to a question at an event at the ...Reuters
Wed, Apr 16
INSTANT VIEW-Powell says Fed to stay on hold until clarity on tariff impact
April 16 (Reuters) - U.S. economic growth appears to be slowing, with consumer spending growing modestly, a rush of imports to avoid tariffs likely to weigh on estimates of gross domestic product, and sentiment souring, U.S. Federal Reserve Chair Jerome Powell said on Wednesday.For now, he said in r...Reuters
Wed, Apr 16