The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
The dollar was higher again on Friday, after nearing a one-month low against a basket of major currencies, as investors bought riskier assets following surprising announcements from the European Central Bank and People's Bank of China.
Commodities rose on Friday after China fixed higher its onshore yuan rate against the dollar by the fastest pace this year to 6.4850 yuan. The People's Bank of China had set its official yuan/dollar midpoint rate CNY=SAEC at 6.4905 per dollar, its strongest fixing in 2016.
The euro briefly regained its footing against the dollar after ECB Governing Council member Erkki Liikanen said the central bank had not run out of tools to boost the economy and would continue to support it until it reaches its inflation target of almost 2 percent.
The move by the central banks sparked a risk-on mood for investors that helped commodity-based currencies at the expense of the dollar, said Tempus currency strategist Juan Perez.
"It's a couple of very accomodative news pieces for the market," Perez said. "The appetite for risk is on the rise."
A stronger yuan was good news for commodities as it singaled a likely increase in demand from China, the world's top commodity's consumer. Copper rose 1.5 percent.
Oil prices were up around 2 percent after the International Energy Agency said in a monthly report that prices might have bottomed and were beginning to affect output beyond the Organization of Petroleum Exporting Countries.
The jump in crude futures boosted a range of higher-yielding currencies, including the Canadian and Australian dollars and the Norwegian crown, which all each rose more than 1 percent against the greenback.
The euro briefly turned positive in morning U.S. trading after Liikanen's comments, reversing a more than 1 percent fall in morning trade in Europe.
It was last down 0.2 percent at $1.1155 against the dollar.