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Trump administration will focus on Fed chair replacement in fall, Bessent says
WASHINGTON, July 3 (Reuters) - The Trump administration will focus on finding a replacement for Federal Reserve Chairman Jerome Powell this fall, U.S. Treasury Secretary Scott Bessent told CNBC on Thursday, adding that officials had "a lot of good candidates."Bessent said it was up to the Fe...Reuters
Thu, Jul 3
TREASURIES-US yields climb as June payrolls back patient Fed
By Gertrude Chavez-Dreyfuss NEW YORK, July 3 (Reuters) - U.S. Treasury yields rose on Thursday after data showed the world's largest economy created more jobs than expected last month, supporting the Federal Reserve's patient stance on cutting interest rates. In late morning trading, U...Reuters
Thu, Jul 3
Fed’s Bostic: Higher inflation on the cards
Federal Reserve Bank of Atlanta President Raphael Bostic said on Thursday that the US economy is likely to face a protracted period of adjustment in response to new trade and policy dynamics, warning it “will not be short or simple” and could extend over a year or more.Fxstreet
Thu, Jul 3
Mexico's April fixed investment sees sharpest decline since 2020
MEXICO CITY, July 3 (Reuters) - Mexican gross fixed investment slumped 12.5% in April compared with the same month a year earlier, the national statistics agency said on Thursday, its steepest drop since October 2020.The measure of spending on machinery, equipment and new construction logged its eig...Reuters
Thu, Jul 3
IMF urges continues reforms in Ukraine, sees lower growth in Russia
WASHINGTON, July 3 (Reuters) - The International Monetary Fund on Thursday called on Ukraine to continue its economic reforms and its national revenue strategy as its fight against Russia's invasion continues, and said Russia's economy was now slowing sharply.IMF spokeswoman Julie Kozack tol...Reuters
Thu, Jul 3
Fed's Bostic: Adjustment to Trump policies could take a year or more
By Howard Schneider WASHINGTON, July 3 (Reuters) - The U.S. is likely facing a period of elevated inflation that risks seeping into consumer psychology, with companies likely needing a year or longer to adjust to the shifts underway in trade and other policies, Atlanta Fed president Raphael Bosti...Reuters
Thu, Jul 3
German car exports to U.S. slide in April, May as tariffs hit
July 3 (Reuters) - German car exports to the United States fell sharply in April and May as import tariffs imposed by President Donald Trump hit German automakers' sales in their most important foreign market, the VDA industry association said on Thursday.Auto exports to the U.S. fell by 13% in ...Reuters
Thu, Jul 3
Exxon returns some Stabroek acreage to Guyana, government says
By Kemol King GEORGETOWN, July 3 (Reuters) - An Exxon Mobil-led XOM.N oil consortium has returned 2,534 square kilometers of the Stabroek Block in Guyana back to the government, the Ministry of Natural Resources said in a statement on Wednesday. The relinquishment is part of a contractual require...Reuters
Thu, Jul 3
US factory orders rebound in May on strong aircraft demand
WASHINGTON, July 3 (Reuters) - New orders for U.S.-manufactured goods surged in May on strong demand for aircraft and business spending on equipment appeared to be strong halfway through the second quarter.Factory orders increased 8.2% after a downwardly revised 3.9% drop in April, the Commerce Depa...Reuters
Thu, Jul 3
Canada's trade deficit narrows in May, US exports drop to lowest since pandemic
May trade deficit C$5.9 billion, led by 1.1% export jumpExports to rest of the world except the U.S. reach a recordExports to the U.S. lowest outside of pandemic year of 2020By Promit Mukherjee OTTAWA, July 3 (Reuters) - Canada's trade deficit in May narrowed after a record-breaking deficit i...Reuters
Thu, Jul 3
US ISM Services PMI improves to 50.8 in June vs. 50.5 expected
The business activity in the US services sector expanded at a modest pace in June, with the Institute for Supply Management's (ISM) Services Purchasing Managers' Index (PMI) rising to 50.8 from 49.9 in May. This reading came in better than the market expectation of 50.5.Fxstreet
Thu, Jul 3
US services sector rebounds but employment contracts again
ISM nonmanufacturing PMI rises to 50.8 in JuneEmployment contracts for third time this year WASHINGTON, July 3 (Reuters) - U.S. services sector activity picked up in June as orders rebounded, but employment contracted for the third time this year, underscoring the impact of policy uncertainty on ...Reuters
Thu, Jul 3
