News
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New York Fed finds easing supply chain pressures in April
Supply chain pressures eased in April despite trade uncertaintyNY Fed data suggests goods moving smoothly across bordersTariffs do not seem to be breaking supply chains so farBy Michael S. Derby NEW YORK, May 6 (Reuters) - Supply chain pressures eased last month even as economies around the world...Reuters
Tue, May 6
US insurance composite rises 2.7% last week amid market rebound
By Carlos PallordetMay 6 - (The Insurer) – The North American insurance composite, compiled by investment banks Stonybrook and Weild & Co, recorded its fourth straight week of gains, with all 12 industry groups in the index ending in positive territory.The S&P 500 finished the week up 2.9% a...Reuters
Tue, May 6
Bessent says US data not showing recession, expects Q1 data to be revised upwards
WASHINGTON, May 6 (Reuters) - U.S. Treasury Scott Bessent on Tuesday said there was nothing in U.S. economic data which showed that the American economy was currently in a recession, despite a contraction in the first quarter gross domestic product (GDP).Bessent told the House Appropriations Committ...Reuters
Tue, May 6
Ireland sees 2025 economic growth slowing to 2% if tariffs stick
DUBLIN, May 6 (Reuters) - Ireland's economic growth is expected to slow to 2% this year if a 10% tariff on U.S. imports from the European Union remains in place, or 2.5% if tariffs are removed, Ireland's finance ministry forecast on Tuesday.Ireland is among the countries most exposed to ...Reuters
Tue, May 6
Germany: Merz was elected Chancellor
German conservative leader Friedrich Merz was elected chancellor on Tuesday following an unprecedented second round of parliamentary voting, after his coalition with the centre-left Social Democrats suffered an unexpected defeat in the initial ballot.
Fxstreet
Tue, May 6
US Treasury Sec. Bessent: Negotiating with 17 trading partners, have not engaged with China yet
United States (US) Treasury Secretary Scott Bessent said on Tuesday that they are actively negotiating with 17 trading partners, while clarifying that they have not engaged with China as of yet, per Reuters.Fxstreet
Tue, May 6
Canada's Ivey PMI shows activity contracting in April
TORONTO, May 6 - Canadian economic activity contracted in April as employment declined for a second straight month, Ivey Purchasing Managers Index (PMI) data showed on Tuesday.The seasonally adjusted index fell to 47.9 last month from 51.3 in March, posting its lowest level since January.The Ivey PM...Reuters
Tue, May 6
New York Fed finds easing supply chain pressure in April
By Michael S. DerbyNEW YORK, May 6 (Reuters) - Supply chain pressures eased last month even as economies around the world rushed to position themselves for the impact of massive and shifting trade tariffs by the Trump administration. The Federal Reserve Bank of New York reported Tuesday that in Apri...Reuters
Tue, May 6
Ireland sees 2025 economic growth slowing to 2% if tariffs stick
DUBLIN, May 6 (Reuters) - Growth in Ireland's domestic economy is expected to slow to 2% this year if a 10% tariff on U.S. imports from the European Union remains in place or 2.5% if tariffs are removed, Ireland's finance ministry forecast on Tuesday.That compared to a forecast before U.S. P...Reuters
Tue, May 6
Canada's trade deficit narrows in March, US exports fall
Canada's trade deficit in March stood at C$506 millionImports drop by 1.5%, exports slip by 0.2%Drop in exports, imports led by falling US shipmentsIn volume terms, exports in March rose by 1.8%By Promit Mukherjee OTTAWA, May 6 (Reuters) - Canada's trade deficit narrowed to C$506 million ...Reuters
Tue, May 6
EUR/GBP slumps to near 0.8460 as Pound Sterling outperforms across the board
The EUR/GBP pair falls sharply to near 0.8460 during North American trading hours on Tuesday, the lowest level seen in a month. The pair slumps as the Pound Sterling (GBP) outperforms its peers in a risk-off market sentiment.
Fxstreet
Tue, May 6
Russia's oil price in roubles at two-year low, 40% below budgeted level, data shows
Average oil price dips below 4,000 roubles per barrelGlobal oil prices fall on tariffs war, OPEC+ output hikeRussia ups deficit estimate, cuts energy revenue forecastTrump: With lower oil, Putin is more eager to settle warKremlin: Oil price crucial, but national interests come first MOSCOW, May 6...Reuters
Tue, May 6
US trade deficit surges to record high in March
WASHINGTON, May 6 (Reuters) - The U.S. trade deficit widened to a record high in March as businesses boosted imports of goods ahead of tariffs, which dragged gross domestic product into negative terrain in the first quarter for the first time in three years.The trade gap jumped 14.0% to a record $14...Reuters
Tue, May 6
Britain and India clinch landmark trade deal
LONDON, May 6 (Reuters) - Britain and India clinched a free trade agreement on Tuesday, in a landmark deal that represents London's most significant post-Brexit pact, and was finalised in the shadow of U.S. President Donald Trump's tariff increases.The deal, between the world's fifth and...Reuters
Tue, May 6
US trade deficit surges to record high in March
WASHINGTON, May 6 (Reuters) - The U.S. trade deficit widened to a record high in March as businesses boosted imports of goods ahead of tariffs, which dragged gross domestic product into negative terrain in the first quarter for the first time in three years.The trade gap jumped 14.0% to a record $14...Reuters
Tue, May 6
RPT-BREAKINGVIEWS-Trump’s Hollywood protectionism is a horror show
By Jennifer Saba NEW YORK, May 5 (Reuters Breakingviews) - Lights, camera, taxes! President Donald Trump on Sunday said that he wants to make Hollywood great again by slapping tariffs on movies made outside of the United States. If that happens, other countries could easily retaliate – a big ris...Reuters
Tue, May 6
