Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
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"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The euro climbed to the highest in nearly a week on Thursday as Treasury yields fell, pulling back from a two-year high, with the euro rebounding from losses earlier in the week ahead of a policy meeting of the European Central Bank.
Investors shrugged off political uncertainty emerging from Spain before the ECB meeting, where policymakers are expected to reveal plans to unwind their multi-year stimulus.
The single currency rose to $1.1857, its highest since last Friday. The euro later fell back to $1.1831.
"With nothing really here to trade off of today when it comes to the euro, the market may be looking ahead to next weeks ECB meeting," said Jeff Scott, senior currency specialist at OFX in Toronto.
He added that "were starting to see some inflationary pressures move into the euro zone."
The European Central Bank will likely say on Oct. 26 that it will start trimming its monthly asset purchases to 40 billion euros from 60 billion euros in January, according to a Reuters poll of economists.
The euro briefly waned against the dollar after the release of U.S. jobless claims data, which showed the lowest reading in 44 years, and a record high reading on the Philadelphia Fed Business Index.
"The Catalonia thing is priced in now unless it blows up really badly and people seem to be happy going long euros before the ECB meeting next week," aid John Marley, head of FX strategy at Infinity international, a currency risk management firm.
Spain's central government said on Thursday it would suspend Catalonia's autonomy and impose direct rule after the region's leader threatened to go ahead with a formal declaration of independence if Madrid refused to hold talks.
The dollar briefly rose to a 13-day high against the Japanese yen in overnight trading, before reversing course. It was last down 0.25 percent to 112.64 yen.
The New Zealand dollar was the big mover among major currencies, with the kiwi sinking nearly 2 percent against the greenback, its biggest drop in nearly a year, after a surprise election victory for the country's Labour party.
"The market doesnt like either piece," said Marc Chandler, chief global currency strategist at Brown Brothers Harriman & Co. "It doesnt like Labour, it doesnt like the anti-immigration, protectionist views of the New Zealand First party and its a change in the status quo."