According to CNBC sources that is This is in response to the steel and aluminium tariffs that the US announced back in March.
Concerns about trade, weaker manufacturing sales weighs on the pair The USD is not falling vs. the CAD. The pair has moved to the highest level since June 28, 2017 and moved above the 61.8% of the move down from the May 2017 high at 1.3131. Back in March the price of the pair moved…
Markets are skittish after China tarrifs It is not a surprise, but the “fact” of the $50B of tariffs on China goods has the markets uneasy in the US.
US dollar is mixed As North American traders enter for the day, the EUR has rebounded part of the declines from yesterday and is the strongest of the day. The NZD is the weakest. The USD is mixed with declines vs the EUR and GBP and gains vs the NZD, CAD, CHF, AUD and JPY. …
Up 0.38% or $0.25 The price of crude oil is settling up $0.25 on the day or 0.38% at $66.89. The high reached $67.16. The low extended to $66.36.
According to CNBC CNBC is reporting that the US will put tariffs on a smaller list of product on China tomorrow. The details: The report is being circulated among government agencies.
If not a security, (may?) not be regulated There was a report by Bob Pisani on CNBC saying the SEC said that Bitcoin and Ether are ‘not securiites’ because of the decentralization of their markets. He added that anything defined as securities can be regulated. Does that mean bitcoin and ether will not be regulated? …
Review of the US economic situation from the IMF The caveat is the IMF forecasts US growth at near 1/2 of the estimate of the US. If growth is higher, things like deficits will not be as great. That is a bias of the IMF.
Retail sales give estimates a boost today With the better than expected GDP released today, the estimates for 2Q GDP has moved higher. Retail sales are a proxy for consumption. US consumption is 2/3 of US GDP.
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