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USTR Greer: US will continue to work on trade deals despite the court ruling
US Trade Representative Jamieson Greer said in a Fox News interview on Sunday that US President Donald Trump’s administration will likely continue negotiations with its trade partners despite Friday’s US court ruling.
China's Caixin Manufacturing PMI unexpectedly jumps to 50.5 in August vs. 49.5 expected
China's Caixin Manufacturing Purchasing Managers' Index (PMI) leaped to 50.5 in August from 49.5 in July, according to the latest data released on Monday.
PBOC sets USD/CNY reference rate at 7.1072 vs. 7.1030 previous
On Monday, the People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1072 as compared to Friday's fix of 7.1030 and 7.1281 Reuters estimate.
The GBP/USD pair kicks off the new week on a positive note and holds steady above the 1.3500 psychological mark during the Asian session. Moreover, the fundamental backdrop suggests that the path of least resistance for spot prices is to the upside.
EUR/USD remains stronger near 1.1700 amid rising bets of Fed rate cuts
EUR/USD extends its winning streak for the fifth successive session, trading around 1.1700 during the Asian hours on Monday. The pair appreciates as the US Dollar (USD) faces challenges amid rising bets of an interest rate cut by the US Federal Reserve (Fed) in the September meeting.
The USD/JPY pair gains ground to around 147.20 during the early Asian session on Monday. The Japanese Yen (JPY) softens against the US Dollar (USD) as cooling inflationary pressures in Japan undermine bets of one more interest rate hike by the Bank of Japan (BoJ) this year.
US appeals court rules Trump's global tariffs are largely illegal
On Friday, the US Court of Appeals for the Federal Circuit upheld a ruling that the sweeping tariffs the US President Donald Trump unilaterally imposed on most other countries were illegal, CNN reported.
Fed's Daly: Policymakers will be ready to lower interest rates soon
Federal Reserve (Fed) Bank of San Francisco President Mary Daly said that policymakers will be ready to cut the interest rates soon, adding that inflation stemming from tariffs will likely prove temporary, Bloomberg reported on Sunday.
ECB’s Rehn: Inflation uncertainty calls for flexible policy
European Central Bank (ECB) Governing Council member Olli Rehn said that current uncertainty over inflation developments calls for “flexibility” in policymaking, Bloomberg reported on Sunday.
AUD/USD extends the rally to near 0.6550 ahead of China’s Caixin Manufacturing PMI release
The AUD/USD pair extends its upside to near 0.6540 during the early Asian session on Monday. Traders ramp up bets for a US interest rate cut by the Federal Reserve (Fed) in the September meeting, which weighs on the US Dollar (USD).
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