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IMF edges 2025 growth forecast slightly higher, warns tariff risks still dog outlook
Effective US tariff rate is 17.3%, IMF saysGlobal growth projected at 3% in 2025 vs 2.8% forecast in AprilGrowth would drop by 0.2 percentage point if maximum US tariffs imposedBy Andrea Shalal July 29 (Reuters) - The IMF on Tuesday edged its global growth forecast slightly higher for 2025 and 20...Reuters
Tue, Jul 29
US goods trade deficit narrows sharply in June
WASHINGTON, July 29 (Reuters) - The U.S. trade deficit in goods contracted sharply in June amid a decline in imports, cementing economists' expectations that trade likely accounted for much of an anticipated rebound in economic growth in the second quarter.The goods trade gap narrowed 10.8% to ...Reuters
Tue, Jul 29
GBP flat and also attempting stabilization – Scotiabank
The Pound Sterling (GBP) is entering Tuesday’s NA session unchanged against the US Dollar (USD) as it also seeks to attempt stabilization following a recent pullback, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret note.
Fxstreet
Tue, Jul 29
P&G signals sluggish annual growth amid leadership change, tariffs
To raise prices on some products in US to offset tariffs impactExpects tariffs to impact costs by about $1 billionQ4 revenue and profit beat estimates on higher pricingP&G named insider Shailesh Jejurikar as CEO on Monday July 29 (Reuters) - Procter & Gamble PG.N on Tuesday forecast annua...Reuters
Tue, Jul 29
RPT-PREVIEW-Visa, Mastercard set for higher profits on solid spending trends
Resilient consumer spending to boost U.S. payment giantsAnalysts to watch spending mix, pull-forward effects amid tariff volatilityCross-border travel trends in focus due to geopolitical tensionsInvestors eye stablecoin plans, looming regulatory shiftsBy Pritam Biswas and Arasu Kannagi Basil July...Reuters
Tue, Jul 29
Fed's policy toolkit may be headed for fundamental changes
Some signs emerge that Fed policy mechanics may be up for changeFed chief succession process opens door for rate control regime changeReturn to pre-financial crisis policy regime would be large undertakingBy Michael S. Derby July 29 (Reuters) - A U.S. senator's recent push to strip the Federa...Reuters
Tue, Jul 29
India and Taiwan were leading buyers of Russian naphtha in June, LSEG data shows
MOSCOW, July 29 (Reuters) - India and Taiwan were the leading destinations for Russian seaborne naphtha exports in June, as cheaper volumes and domestic demand attracted buyers, according to traders and LSEG data. Naphtha is a primary feedstock in the petrochemical industry for producing olefins and...Reuters
Tue, Jul 29
Japan’s Akazawa: Trade deal with US guarantees lowest tariff rates for chips, pharma
Japanese Economy Minister and top trade negotiator Ryosei Akazawa said on Tuesday, “my understanding is that if a third country reaches an agreement with the United States (US) on lower sectoral tariffs such as chips and pharmaceuticals, the same rate would apply to Japan.”
Fxstreet
Tue, Jul 29
DXY eyes key resistance at 99/99.40 after trendline rebound – Scotiabank
The Dollar Index is staging a recovery after defending its long-term uptrend near 96.40. A higher low at 97.10 and bullish MACD divergence point to fading downside momentum, with focus now shifting to key resistance near 99/99.40, Standard Chartered's economist report.Fxstreet
Tue, Jul 29
