Chinese vice commerce minister said Monday that Beijing would like the U.S. to cancel "inappropriate" actions against Chinese companies.China Economyread more
Sixteen Asia Pacific countries have been negotiating the Regional Comprehensive Economic Partnership since 2013, with India's reluctance to open up its markets a major...Asia Economyread more
The secretary of State said he was traveling to Saudi Arabia and the United Arab Emirates to make sure that the U.S. is "strategically aligned" with its allies.Politicsread more
Experts say Facebook's cryptocurrency project Libra has been a catalyst for the price of bitcoin going higher.Technologyread more
Goldman Sachs helped state firm 1MDB to raise $6.5 billion in 2012 and 2013, and collected higher-than-typical fees of $600 million for the deals.Financeread more
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Indonesian Trade Minister Enggartiasto Lukita said all 16 countries negotiating a mega Asia-Pacific trade agreement should remain in the framework.World Economyread more
Stocks in Asia Pacific traded mixed on Monday afternoon, while oil prices continued to rise as tensions between the U.S. and Iran lingered after the latter shot down an...Asia Marketsread more
His comments come after a series of rapid escalations between Washington and Tehran.World Politicsread more
The U.S. is provoking Iran and growing risks of miscalculation could lead to a "world war," according to Malaysia's Prime Minister Mahathir Mohamad.World Politicsread more
Trump's comments come after he called off strikes against the Islamic Republic this week over concerns that a military response would kill scores of people.Politicsread more
President Donald Trump said Tuesday that the U.S. dollar is at a disadvantage compared with other major currencies like the euro as central banks keep interest rates low while the Federal Reserve's rates are higher by comparison.
"The Euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage," Trump tweeted, adding the Fed doesn't have "a clue."
Trump also said in a separate tweet that the U.S. has low inflation, calling it "a beautiful thing."
The dollar fell slightly against the euro following Trump's tweets.
Trump has repeatedly gone after the Fed for what he considers tight monetary policy. The Fed hiked rates four times in 2018.
In December, after the central bank raised rates for the last time in 2018, Trump eviscerated the Fed. Trump called the Fed "the only problem our economy has" in a tweet, noting officials "don't have a feel for the Market."
Trump also told CNBC's Joe Kernen on Monday that the Fed "made a big mistake: They raised interest rates far too fast. " Meanwhile, China keeps devaluing its currency, Trump added. "Don't forget: the head of the Fed in China is President Xi ... he can do whatever he wants. "
But market expectations for lower rates have increased recently after the release of weaker economic data. The Labor Department's jobs report for May showed employment growth of just 75,000, well below estimates. Meanwhile, manufacturing activity decelerated last month to its slowest pace since October 2016.
The data, coupled with comments from Fed Chair Jerome Powell, led traders to price in a 78% chance of lower rates by July, according to the CME Group's FedWatch tool. Powell said last week that the Fed will "act as appropriate" to keep the current economic expansion going.