News
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US budget surplus surges to $258 billion in April, year-to-date deficit tops $1 trillion
April surplus reflects end of-season tax receipts, jump in import dutiesTariff revenue expected to drop after US-China trade dealFiscal year outlays up due to Social Security, Medicare, Treasury debt paymentsBy Ann Saphir May 12 (Reuters) - The U.S. government posted a $258 billion budget surplus...Reuters
Mon, May 12
US car prices higher in April after tariffs hit
US new-vehicle prices rose 2.5% in April, Cox Automotive reportsTariffs on imports from Mexico and Canada impact automaker costsConsumer demand rises as buyers anticipate tariff-related price hikesBy Kalea Hall DETROIT, May 12 (Reuters) - U.S. new-vehicle prices surged in April, data released on ...Reuters
Mon, May 12
US-China trade reprieve buys Shein and Temu time to restock US inventory
U.S.-China tariff agreement does not reinstate de minimisTariff cut from 145% to 30% helpsShein and Temu could use reprieve to replenish U.S. warehousesBy Helen Reid LONDON, May 12 (Reuters) - An agreement between the United States and China to temporarily slash tariffs stopped short of reinstati...Reuters
Mon, May 12
US budget surplus rises 23% to $258 billion in April, customs revenue surges
May 12 (Reuters) - The U.S. government posted a $258 billion budget surplus for April, up 23%, or about $49 billion, from a year earlier, reflecting strong tax receipts in the final month of the tax season and surging collections of import duties, the Treasury Department said on Monday.Treasury repo...Reuters
Mon, May 12
What to Watch in the Day Ahead - Tuesday, May 13
On the U.S. economic front, the Consumer Price Index (CPI) is forecast to have edged up 0.3% in April after falling 0.1% the month before. Annually, inflation will likely remain unchanged at 2.4% in April. Meanwhile, core CPI is estimated to have inched up 0.3% last month, compared to a 0.1% increas...Reuters
Mon, May 12
US budget surplus rises 23% to $258 billion in April, customs revenue surges
May 12 (Reuters) - The U.S. government posted a $258 billion budget surplus for April, up 23% from a year earlier, reflecting strong tax receipts in the final month of the tax season and surging collections of import duties, the Treasury Department said on Monday.Treasury reported that net customs d...Reuters
Mon, May 12
Fed's Kugler says China-US tariff deal may have lowered risks
Tariff pause may reduce need for Fed rate cuts, Kugler saysInvestors push out rate-cut expectations to SeptemberTrade conflict could impact US reputation, supply chainsBy Padraic Halpin, Howard Schneider DUBLIN, May 12 (Reuters) - The U.S.-China deal to lower their most aggressive import tariffs ...Reuters
Mon, May 12
Markets reduce bets on ECB rate cuts after US-China talks, Schnabel remarks
Bund yields reach one-month high amid easing trade tensionsECB board member Schnabel says central bank should stop cuttingMarkets price in ECB depo rate at 1.75% in DecemberEconomist Schmieding predicts slow euro zone growthBy Stefano Rebaudo May 12 (Reuters) - Euro area benchmark Bund yields hit...Reuters
Mon, May 12
Fed's Kugler: Still expect increase in prices and slowdown in the economy
Federal Reserve Governor Adriana Kugler said that if tariffs prove to be long-lasting, she would focus on how global supply chains are rearranged in response, while she acknowledged that the recent reduction in US-China tariffs was clearly an improvement in bilateral trade relations, though tariff lFxstreet
Mon, May 12
Kugler: China deal may have lowered tariff shock, changed need for Fed to respond
DUBLIN, May 12 (Reuters) - The deal between the U.S. and China to lower the most aggressive import tariffs could lessen the impact of the ongoing trade conflict between the countries and lower the need for the Fed to respond, Fed governor Adriana Kugler said on Monday."I still expect an increase...Reuters
Mon, May 12
No need for fiscal reform in Mexico, finance minister says
MEXICO CITY, May 12 (Reuters) - Fiscal reform in Mexico is not on the table at the moment, the nation's finance minister said in an interview published on Monday. Finance Minister Edgar Amador shrugged off the suggestion when asked by a columnist for newspaper Heraldo de Mexico if officials were...Reuters
Mon, May 12
Fed’s Kugler: Progress on disinflation has slowed
Federal Reserve Governor Adriana Kugler said on Monday that Fed officials were finding it difficult to assess the underlying strength of the economy, citing rapid shifts in trade policy and the resulting impact on households and businesses that had rushed to purchase imported goods earlier in the yeFxstreet
Mon, May 12
Fed's Kugler says it has become hard to judge underlying US growth
By Howard Schneider WASHINGTON, May 12 (Reuters) - U.S. central bank officials are having trouble judging the underlying strength of the economy given the rapid changes in trade policy and the impact on households and businesses rushing earlier this year to buy imported goods, Federal Reserve Gov...Reuters
Mon, May 12
U.S.-China tariff delay gives Fed fresh reason to sit tight on rates
By Howard Schneider WASHINGTON, May 12 (Reuters) - The Federal Reserve got one more reason to wait on cutting interest rates after a delay of the most punitive tariffs imposed in the Trump administration's trade battle with China appeared to reduce the chance of a U.S. economic slowdown that ...Reuters
Mon, May 12
President Trump: We achieved total reset with China
United States (US) President Donald Trump said on Monday that he may speak with Chinese President Xi Jinping later this week, as negotiations between the two economic powers show signs of progress toward a potential trade agreement.Fxstreet
Mon, May 12
