News
Important Only
Fed's Powell says rate policy well positioned, future of policy not on pre-set course
By Michael S. DerbyDec 10 (Reuters) - Federal Reserve Chairman Jerome Powell said U.S. central bank interest rate policy is well positioned to respond to what lies ahead for the economy, declining to provide guidance whether another interest rate cut lies in the near future."I would note that ha...Reuters
Wed, Dec 10
WRAPUP 3-US labor cost growth slows in third quarter as labor market conditions soften
Employment cost index increases 0.8% in third quarterQuarterly wage growth slows, but annual gains remain solidGovernment shutdown reduced data collection rate for reportBy Lucia Mutikani WASHINGTON, Dec 10 (Reuters) - U.S. labor costs increased slightly less than expected in the third quarter as...Reuters
Wed, Dec 10
GBP/USD surges after Fed rate cut, traders focus on Powell's next steps
GBP/USD climbs after the Federal Reserve decided to cut rates as expected on a 9-3 vote split, that witnessed two members voting for holding rates, while Fed Governor Stephen Miran voted for a 50-basis points rate cut. At the time of writing, the pair trades at 1.3350 up 0.46%
Fxstreet
Wed, Dec 10
What to Watch in the Day Ahead - Thursday, December 11
Networking chipmaker Broadcom is expected to report a nearly 25% jump in October quarter revenue, while investors watch closely for indications of demand for its custom AI chips amid worries of an AI bubble. Costco is expected to post a rise in first-quarter revenue, fueled by strong demand for esse...Reuters
Wed, Dec 10
US rate futures raise odds of rate-cut pause in January meeting
NEW YORK, Dec 10 (Reuters) - Futures on the federal funds rate, which measure the cost of unsecured overnight loans between banks, raised the odds on Wednesday that the Federal Reserve will pause its easing cycle at the next policy meeting in January.Futures priced in a 78% chance the Fed will hold ...Reuters
Wed, Dec 10
Fed says will start reserve management Treasury bill buying
Fed will start reserve management bond buying on December 12Fed balance sheet expansion follows recent end of quantitative tighteningFed bond buying is technical in natureBy Michael S. Derby WASHINGTON, Dec 10 (Reuters) - The Federal Reserve on Wednesday said that it would start buying short-date...Reuters
Wed, Dec 10
RPT-US posts $173 billion budget deficit in November
WASHINGTON, Dec 10 (Reuters) - The U.S. government posted a lower $173 billion deficit in November as tariffs on imports helped to boost revenues, the Treasury Department said on Wednesday.The deficit last month was down $193 billion, or 53%, from the $367 billion deficit reported in November 2024. ...Reuters
Wed, Dec 10
U.S. central bankers split, with median seeing one rate cut in 2026
Dec 10 (Reuters) - A majority of U.S. central bankers believe they will need to cut short-term interest rates next year, but are widely split over how much, with a large group opposed to any cuts at all and three penciling in a rate hike.And in a move unprecedented in the history of the Fed's so...Reuters
Wed, Dec 10
WRAPUP 3-Divided Fed lowers rates, signals pause and one 2026 cut as growth rebounds
Fed reduces policy rate by quarter of a percentage pointThree policymakers dissent on policy decisionPolicymakers see one rate cut in 2026By Howard Schneider WASHINGTON, Dec 10 (Reuters) - The U.S. Federal Reserve cut interest rates on Wednesday in another divided vote, but signaled it will likel...Reuters
Wed, Dec 10
US posts $173 billion budget deficit in November
WASHINGTON, Dec 10 (Reuters) - The U.S. government posted a lower $173 billion deficit in November as tariffs on imports helped to boost revenues, the Treasury Department said on Wednesday.The deficit last month was down $193 billion, or 53%, from the $367 billion deficit reported in November 2024. ...Reuters
Wed, Dec 10
Mexico's economy solid and resilient as domestic risks rise, cenbank says
MEXICO CITY, Dec 10 (Reuters) - Mexico's economy is solid and resilient, central bank chief Victoria Rodriguez said in the Latin American nation's financial stability report on Thursday, even as domestic financial risks increased.Mexico's banking system continues to have levels of liquid...Reuters
Wed, Dec 10
Temu's Dublin office raided by EU regulators on Chinese subsidy concerns
Raid of European headquarters aims to find evidence of foreign subsidiesEU is cracking down on duty-free ecommerce parcels European retailers have accused Temu and rival Shein of unfair competition BRUSSELS, Dec 10 (Reuters) - Temu's European headquarters in Dublin were raided by EU regulator...Reuters
Wed, Dec 10
WH Economic Adviser Hassett: Stronger data could support 50 basis point cut
White House Economic Adviser Kevin Hassett stated that the Federal Reserve (Fed) has plenty of room to cut rates later and will likely need to do so again. The front-runner to be the Federal Reserve's next chair said in an interview on Fox News' "America Reports" program on Wednesday.Fxstreet
Wed, Dec 10
IMF reaches staff level agreement on Ethiopia's fourth review, unlocks $261 million
Dec 10 (Reuters) - The International Monetary Fund said on Wednesday it had reached a staff-level agreement with Ethiopia on the fourth review of a $3.4 billion lending programme, paving the way for the next disbursement of $261 million once the Fund's board signs off. That disbursement w...Reuters
Wed, Dec 10
Switzerland says lower US tariffs to be applied retroactively from November 14
ZURICH, Dec 10 (Reuters) - The lowering of U.S. tariffs on Switzerland to 15% from 39% will be effective retroactively from November 14, the Swiss government said on Wednesday, delivering relief to businesses that had been saddled with the highest U.S. duties in Europe.On November 14, the United Sta...Reuters
Wed, Dec 10
Bank of Canada holds rates, says economy looks better than expected despite tariffs
The Bank of Canada holds rates steady at 2.25% as expectedMacklem says economy was proving more resilient to tariffs Macklem reiterates policy rate at about the right levelU.S. Federal Reserve likely to announce rate cut on WednesdayBy Promit Mukherjee and David LjunggrenOTTAWA, Dec 10 (Reuters) - T...Reuters
Wed, Dec 10
Switzerland says lower U.S. tariffs to be applied retroactively from November 14
ZURICH, Dec 10 (Reuters) - The lowering of U.S. tariffs on Switzerland to 15% from 39% will be effective retroactively from November 14, the Swiss government said on Wednesday, delivering relief to businesses that had been saddled with the highest U.S. duties in Europe.On November 14, the United Sta...Reuters
Wed, Dec 10
