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WRAPUP 2-Front-loading ahead of tariffs boosts US durable goods orders
Durable goods orders increase 0.9% in FebruaryOrders for core capital goods orders fall 0.3%Shipments of core capital goods rebound 0.9%By Lucia Mutikani WASHINGTON, March 26 (Reuters) - Orders for long-lasting U.S. manufactured goods unexpectedly rose in February as businesses rushed to avoid po...Reuters
Wed, Mar 26
US crude stockpiles fall as refining continues to rise, EIA says
By Stephanie KellyNEW YORK, March 26 (Reuters) - U.S. crude oil inventories fell last week as refiners continued to ramp up production, while gasoline and distillate stockpiles also dropped, the Energy Information Administration said on Wednesday.Crude inventories fell by 3.3 million barrels to 433....Reuters
Wed, Mar 26
CORRECTED-Fed has more work to do, policy uncertainty is complicating it: Kashkari
March 26 (Reuters) - Minneapolis Federal Reserve Bank President Neel Kashkari on Wednesday said that while the U.S. central bank has made a lot of progress bringing inflation down, "we have more work to do" to get inflation to the Fed's 2% target. "The biggest challenge for us right ...Reuters
Wed, Mar 26
US reciprocal tariffs could cut size of UK economy by 1%, OBR says
LONDON, March 26 (Reuters) - U.S. President Donald Trump's threats to impose new reciprocal tariff rates next week on countries around the world could cut the size of the British economy by up to 1%, according to the government's independent fiscal watchdog.The Office for Budget Responsibili...Reuters
Wed, Mar 26
US risks default as soon as August without debt-ceiling action, CBO estimates
WASHINGTON, March 26 (Reuters) - The U.S. government will probably risk defaulting on some of its $36.6 trillion in debt as soon as August - or possibly even by late May - unless Congress acts to raise the nation's debt ceiling, the non-partisan Congressional Budget Office forecast on Wednesday....Reuters
Wed, Mar 26
US crude stocks, gasoline and distillate inventories fall, EIA says
NEW YORK, March 26 (Reuters) - U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.Crude inventories fell by 3.3 million barrels to 433.6 million barrels in the week ended March 21, the EIA said, compared with analysts' e...Reuters
Wed, Mar 26
TREASURIES-Yields inch higher on tariff exemption hopes, quarter-end trades
Yields inch higher on possible tariff exemptionsQuarter-end rebalancing adds selling pressureFebruary reading of durable goods orders better than forecastBy Davide Barbuscia NEW YORK, March 26 (Reuters) - U.S. Treasury yields inched higher on Wednesday as investors weighed the prospect of exempti...Reuters
Wed, Mar 26
CFO optimism dropped as Trump tariff plans unfolded, survey says
CFO optimism fell from 66 to 62.1 in Q1Construction sector optimism rose, manufacturing fellCFOs concerned about tariffs, expect slower growthConsumer sentiment also dropped, fearing recession and inflationBy Howard Schneider WASHINGTON, March 26 (Reuters) - Optimism among company chief financial...Reuters
Wed, Mar 26
CORRECTED-US reciprocal tariffs could cut size of UK economy by 1%, OBR says
LONDON, March 26 (Reuters) - U.S. President Donald Trump's threats to impose new reciprocal tariff rates next week on countries around the world could cut the size of the British economy by up to 1%, according to the government's independent fiscal watchdog.The Office for Budget Responsibili...Reuters
Wed, Mar 26
US risks default as soon as August without action on debt ceiling, CBO estimates
WASHINGTON, March 26 (Reuters) - The U.S. government will risk defaulting on some of its $36.6 trillion in debt as soon as August unless Congress acts to raise the nation's debt ceiling, the non-partisan Congressional Budget Office forecast on Wednesday.The CBO's forecast of the so-called &#...Reuters
Wed, Mar 26
UK's Reeves: Real disposable income to grow this year at nearly twice the rate forecast in October
While delivering the Spring Budget, UK Chancellor of the Exchequer Rachel Reeves noted that they will bring forward 3.25 billion Sterling of investment to reform public services, per Reuters.
Fxstreet
Wed, Mar 26
UK finance minister restores 9.9 billion pound fiscal buffer
LONDON, March 26 (Reuters) - British finance minister Rachel Reeves said on Wednesday that she had rebuilt a 9.9 billion pound ($12.8 billion) fiscal buffer that was wiped out by weaker economic forecasts and rising borrowing costs since her first full budget last year.The public finances have beenReuters
Wed, Mar 26
UK finance minister says welfare cuts will save 3.4 billion pounds
LONDON, March 26 (Reuters) - British finance minister Rachel Reeves said on Wednesday the Office for Budget Responsibility estimated the government's welfare cuts would save 3.4 billion pounds ($4.4 billion).Earlier this month, Liz Kendall, work and pensions minister, said the government planned...Reuters
Wed, Mar 26
German government opposes boycott of US products
BERLIN, March 26 (Reuters) - Germany's government rejected on Wednesday calls for a boycott of U.S. goods despite disagreements over tariffs, saying Europe's biggest economy wanted to foster good trade relations. European Union officials are trying to ease tensions with the United S...Reuters
Wed, Mar 26
UK finance minister restores 9.9 billion pound fiscal buffer
LONDON, March 26 (Reuters) - British finance minister Rachel Reeves said on Wednesday that she had rebuilt a 9.9 billion pound ($12.8 billion) fiscal buffer that was wiped out by weaker economic forecasts and rising borrowing costs since her first full budget last year.The public finances have been ...Reuters
Wed, Mar 26
US core capital goods orders unexpectedly drop in February
WASHINGTON, March 26 (Reuters) - New orders for key U.S.-manufactured capital goods unexpectedly fell in February and could remain sluggish as economic uncertainty rises because of tariffs, discouraging businesses from boosting spending on equipment.Non-defense capital goods orders excluding aircraf...Reuters
Wed, Mar 26
US Durable Goods Orders rise 0.9% in February vs. -1% expected
Durable Goods Orders in the US rose by 0.9%, or $2.7 billion, in February to $289.3 billion, the US Census Bureau reported on Wednesday. This reading followed a 3.3% increase (revised from 3.1%) reported in January and came in better than the market expectation for a decrease of 1%.Fxstreet
Wed, Mar 26
