News
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Portugal's economy contracts unexpectedly, net exports fall
LISBON, May 2 (Reuters) - Portugal's economy unexpectedly contracted by 0.5% in the first quarter from the previous three months, when it grew 1.4%, as net exports dropped and global trade tensions jumped, official data showed on Friday.Forecasts in a Reuters poll had pointed to growth of 0.4%.F...Reuters
Fri, May 2
US Dollar retreats slightly ahead of Nonfarm Payrolls release
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is seeing some rejection and heads back to 99.75 at the time of writing on Friday after a false break above the 100-marker.Fxstreet
Fri, May 2
AUD/USD Price Forecast: Wobbles around 200-day EMA near 0.6400 for almost two weeks
The AUD/USD pair jumps to near 0.6430 on Friday. The Aussie pair strengthens as the US Dollar (USD) corrects sharply, even as hopes of a de-escalation in the trade war between the United States (US) and China have improved.
Fxstreet
Fri, May 2
Euro zone core inflation jump not seen preventing rate cut
By Balazs Koranyi FRANKFURT, May 2 (Reuters) - Euro zone prices rose more than expected last month and underlying price pressures accelerated, an unwelcome trend that is still not expected to prevent another interest rate cut to insulate the economy from the fallout of a global trade war.Inflatio...Reuters
Fri, May 2
Euro zone yields rise as US-China tensions ease, await US data
By Stefano Rebaudo May 2 (Reuters) - Euro zone government bond yields rose on Friday, catching up with U.S. Treasuries, as investors scaled back bets on European Central Bank rate cuts amid signs of potential easing trade tensions between the United States and China.China's Commerce Ministry ...Reuters
Fri, May 2
'De minimis': the trade perk Trump ended as part of China tariffs
By Casey Hall May 2 (Reuters) - The Trump administration ended U.S. duty-free access for low-value shipments from China and Hong Kong on Friday, removing the "de minimis" exemptions availed of by Shein, Temu and other e-commerce firms as well as traffickers of fentanyl and oth...Reuters
Fri, May 2
Hong Kong's economy accelerated in Q1 ahead of tariff storm
Q1 GDP expands 3.1% y/y versus a revised 2.5% in Q4Q1 seasonally adjusted GDP up 2.0% q/qTrade policy uncertainty weighs on economy's outlook - govtHONG KONG, May 2 (Reuters) - Hong Kong's economy grew in the first quarter by 3.1% from a year earlier, official advance estimates showed on Fri...Reuters
Fri, May 2
EUR/USD gains as US Dollar corrects, Eurozone HICP accelerates in April
EUR/USD holds initial gains to near 1.3300 in Friday’s European session. The major currency remains firm near the day’s high after the release of the hotter-than-expected preliminary Eurozone Harmonized Index of Consumer Prices (HICP) data for April.
Fxstreet
Fri, May 2
Turkey says trade deficit widened 21.7% in April
ANKARA, May 2 (Reuters) - Turkey's trade deficit widened 21.7% year-on-year to 12$ billion in April, Trade Minister Omer Bolat said on Friday.Exports stood at $20.9 billion in April, while imports amounted to $33 billion, he told a press conference.The euro's gains against the U.S. dollar si...Reuters
Fri, May 2
Tesla sales in Portugal drop 33% in April, while total EVs soar
LISBON, May 2 (Reuters) - Tesla's TSLA.O new car sales in Portugal fell 33% in April from the same month in 2024 to 302 units, while all new registrations of light electric vehicles rose about 32%, the country's automobile industry association ACAP said on Friday. In the first four months of...Reuters
Fri, May 2
Euro zone inflation holds steady in April, service prices surge
By Balazs Koranyi FRANKFURT, May 2 (Reuters) - Euro zone inflation held steady a touch above the ECB's 2% target in April but underlying price pressures picked up more than projected, likely making some ECB policymakers nervous, even if a trade war may justify more interest rate cuts.Inflatio...Reuters
Fri, May 2
Gold looks set for weekly loss as news of trade talks curb haven demand
Gold (XAU/USD) trades around $3,250 on Friday, recovering slightly from two-week lows after three straight days of losses. The losing streak that took place this week was the sum of a whole package of headlines that all had one theme in common: easing on tariffs.
Fxstreet
Fri, May 2
