Clear US response on China tariffs is coming soon – Bloomberg

“A clear US response on China tariffs is coming soon,” said US Deputy Commerce Secretary Don Graves in a Bloomberg TV interview. The diplomat also mentioned that the US will take a balanced approach on China tariffs, per the news. Additional comments Expect Congress to pass competition bill in next weeks. Export restrictions are having … Read more

Will prohibit Russia gold imports under latest sanctions

The United States will prohibit Russian gold imports in the latest round of sanctions, the Treasury Department announced on its website on Tuesday, as reported by Reuters. Additional takeaways “US imposes Russia-related sanctions on dozens of entities and individuals.” “Latest sanctions target Russia’s state-owned defense conglomerate Rostec and affiliated entities.” “Latest sanctions target multiple banks … Read more

Will discuss consequences of Russia’s invasion of Ukraine at NATO summit

The White House said in a press release on Tuesday that at the NATO summit in Madrid, leaders will discuss the consequences of Russia’s invasion of Ukraine. At the NATO summit, the “alliance will take historic decisions to strengthen the alliance’s collective defense and security,” the White House said. Related reads .

Dallas Fed Manufacturing Index plunges to -17.7 in June vs. -3.1 expected

Dallas Fed Manufacturing Index fell sharply in June. The US Dollar Index continues to fluctuate near 104.00 after the data. The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey plunged to -17.7 in June from -7.3 in May. This print missed the market expectation of -3.1 by a … Read more

May’s Durable Goods Orders report shows no signs of slowing in the manufacturing sector – Wells Fargo

Data released on Monday showed Durable Goods Orders rose more than expected in May. Analysts at Wells Fargo point out the report presented gains despite softening demand for goods and signs of slowing activity in regional Fed manufacturing surveys. According to them, a broad-based gain in core capital goods shipments should lift estimates for second-quarter … Read more

When are the US durable goods orders and how could they affect EUR/USD?

US durable goods orders overview Monday’s US economic docket highlights the release of Durable Goods Orders data for May. The US Census Bureau will publish the monthly report at 12:30 GMT and is expected to show that headline orders remained flat during the reported month as compared to the 0.5% rise in April. Orders excluding … Read more

G7 still working on precise mechanism to implement price cap on Russian oil

With the G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil. Additional comments “To issue coordinated steps tomorrow to raise pressure on Russia.” “Targeting services for transporting Russian oil is a ‘promising avenue’.” “The US will impose higher tariffs on Russian … Read more