News
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Fed's Powell: Tariffs larger even than in Fed's upside estimates
April 16 (Reuters) - The tariffs rolled out by President Donald Trump were larger than even the highest estimates prepared by the Federal Reserve ahead of time, Fed Chair Jerome Powell said on Wednesday."The tariffs are larger than forecasters had expected, certainly larger than we expected, eve...Reuters
Wed, Apr 16
Fed's Powell: Trade policy change will complicate hitting job, inflation goals
By Michael S. DerbyApril 16 (Reuters) - Federal Reserve Chair Jerome Powell said on Wednesday that trade policies pursued by the Trump administration will create challenges for the central bank to meet its job and inflation mandates this year.The new trade policies represent significant change, Powe...Reuters
Wed, Apr 16
TEXT-Federal Reserve Chair Jerome Powell speech text April 16, 2025
April 16 (Reuters) - Thank you for the introduction. I am looking forward to our conversation, Professor Rajan. First, I will briefly discuss the outlook for the economy and monetary policy.At the Fed, we are always focused on the dual-mandate goals given to us by Congress: maximum employment and st...Reuters
Wed, Apr 16
Fed's Hammack: Time for hold steady while taking in new 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
Breaking: Gold hits a record high around $3,330/oz
Gold prices keep their upside impulse well in place and hit an all-time peak just below the $3,330 mark per troy ounce on Wednesday. Further gains in the precious metal come from a weaker US Dollar, unabated uncertainty surrounding United States (US) tariffs and declining US yields across the curve.
Fxstreet
Wed, Apr 16
Fitch sees weakest world growth outside pandemic since 2009
LONDON, April 16 (Reuters) - Fitch Ratings cut its global growth forecasts on Wednesday, projecting the weakest expansion since 2009 save for the COVID-19 pandemic as global trade tensions escalate.In a special update to its quarterly global economic outlook, Fitch said it expects world growth to fa...Reuters
Wed, Apr 16
US crude stocks rise despite large increase in exports, EIA data shows
By Stephanie KellyNEW YORK, April 16 (Reuters) - U.S. crude stocks rose last week despite a major increase in exports, while fuel inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 515,000 barrels to 442.9 million barrels in the week ended April 11, ...Reuters
Wed, Apr 16
TREASURIES-Treasuries consolidate ahead of Powell, foreign demand data
Minimal reaction to retail sales and industrial production reports Powell speaks at 1:30 eastern/1700 GMTTICS data later to show China holdings in FebruaryBy Alden Bentley NEW YORK, April 16 (Reuters) - Yields on U.S. Treasury securities were consolidating recent losses in tight ranges on Wednesd...Reuters
Wed, Apr 16
WTO slashes 2025 trade growth forecast, warns of deeper slump
WTO forecasts 0.2% decline in global merchandise trade this year Says tariff war could lead to steepest trade drop since height of pandemicGlobal decoupling into two blocs could shrink GDP by 7%By Olivia Le Poidevin and Philip Blenkinsop GENEVA, April 16 (Reuters) - The World Trade Organization s...Reuters
Wed, Apr 16
US crude stocks rise, gasoline and distillate inventories fall - EIA
NEW YORK, April 16 (Reuters) - U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.Crude inventories rose by 515,000 barrels to 442.9 million barrels in the week ended April 11, the EIA said, compared with analysts&...Reuters
Wed, Apr 16
US business inventories rise moderately in February
WASHINGTON, April 16 (Reuters) - U.S. business inventories increased slightly in February amid strong sales growth likely as households stocked up on goods ahead of tariffs on imports.Inventories rose 0.2% after climbing 0.3% in January, the Commerce Department's Census Bureau said on Wednesday....Reuters
Wed, Apr 16
INSTANT VIEW-Bank of Canada holds benchmark rate steady at 2.75%
TORONTO, April 16 (Reuters) - The Bank of Canada on Wednesday held its benchmark interest rate at 2.75%, its first pause after seven consecutive cuts. MARKET REACTION: CAD/LINK: nBCLGFELB6 COMMENTSDOUG PORTER, CHIEF ECONOMIST AT BMO CAPITAL MARKETS"Obviously it was a difficult decision. ...Reuters
Wed, Apr 16
INSTANT VIEW-Bank of Canada holds benchmark rate steady at 2.75%
TORONTO, April 16 (Reuters) - The Bank of Canada on Wednesday held its benchmark interest rate at 2.75%, its first pause after seven consecutive cuts. MARKET REACTION: CAD/LINK: nBCLGFELB6 COMMENTSDOUG PORTER, CHIEF ECONOMIST AT BMO CAPITAL MARKETS"Obviously it was a difficult decision. ...Reuters
Wed, Apr 16
US manufacturing output slows in March; tariffs cloud hangs over factories
WASHINGTON, April 16 (Reuters) - U.S. manufacturing production rose moderately in March and could decelerate further amid President Donald Trump's global tariffs, which have sparked a trade war with China.Factory output increased 0.3% last month after an upwardly revised 1.0% rebound in February...Reuters
Wed, Apr 16
USD/JPY struggles to hold 142.00 as US-China trade war batters US Dollar
The USD/JPY pair struggles to hold the key support of 142.00 during North American trading hours on Wednesday, the lowest level seen in over four months. The pair faces selling pressure as the US Dollar has been hit hard by intensifying trade war between the United States (US) and China.
Fxstreet
Wed, Apr 16
US Retail Sales rise by 1.4% in March vs. 1.3% expected
Retail Sales in the United States (US) rose by 1.4% in March to $734.9 billion, the US Census Bureau announced on Wednesday. This reading followed the 0.2% increase recorded in February and came in slightly better than the market expectation for an increase 1.3%.Fxstreet
Wed, Apr 16
US retail sales surge in March due to motor vehicle buying ahead of tariffs
WASHINGTON, April 16 (Reuters) - U.S. retail sales surged in March as households boosted purchases of motor vehicles ahead of tariffs, though concerns about the economic outlook are hurting discretionary spending.Retail sales increased 1.4% last month after an unrevised 0.2% rise in February, the Co...Reuters
Wed, Apr 16