Market Pulse - Currencies
Slow motion train crash feared in Italy as Salvini asks for finance minister's head
Italian deputy Prime Minister Matteo Salvini threatened to topple the government in Rome unless the PM, Giuseppe Conte, replaced various cabinet members, including the finance minister.
Trump calls Fed incompetent and accuses it of harming US economy
US President Trump on Wednesday accused the Federal Reserve of doing more harm to the US economy than China and urged it to cut interest rates to aid his trade agenda.
FX round-up: Pound steady as traders mull US-China trade, no-confidence vote in Commons
The pound finished a smidgen higher on Tuesday as risk appetite recovered in the wake of the Chinese central bank's decision to rein in the recent slide in the country's currency.
Vivendi in talks to sell 10% stake in Universal Music to China's Tencent
Vivendi has entered into preliminary discussions about the sale of a 10% stake in the Universal Music Group (UMG) to Chinese technology company Tencent.
US wants to reach a trade deal with China, Kudlow tells CNBC
The US President wants to reach a deal with China, but it has to be the right one, a top White House official said.
North Korea to invest stolen $2.0bn from crypto hacks on WMD programme
Experts at the UN said North Korean cyber agents had illegally raised an estimated $2. 0bn to invest in the country’s development of weapon programs.
Barclays sees even lower yuan in near term
Analysts at Barclays Research revised their forecasts for the Chinese yuan in order to factor in greater weakness.
PBoC sets higher daily yuan fix even after China named 'currency manipulator'
China's central bank acted to avoid further yuan weakness on Tuesday, just hours after the US Treasury labelled the country a "currency manipulator".
Europe close: Stocks drop further amid heightened trade tensions
Stocks across the Continent slumped after China allowed its currency to fall sharply in value against the US dollar and euro with analysts divided on just how far stocks might drop on the back of the trade war between Washington and Beijing.
Harland and Wolff site set to go into administration
The Harland and Wolff shipyard in Belfast is expected to go into administration on Monday.
PBoC says China will not seek competitive devaluation of yuan
The People's Bank of China said on Monday that the country would not manipulate the value of its currency as a tool in its ongoing trade dispute with the US.
China lets yuan weaken sharply against US dollar and euro
China let the yuan fall below the pyschological 7. 0 yuan level to the US dollar on Monday, reaching its weakest level in a decade against the Greenback, in response to US President Donald Trump’s latest round of tariffs.
US non-farm payroll growth slows in July, workweek shrinks
The US jobs market slowed last month and the length of the average workweek declined a bit, although wages grew more quickly than expected and the labour force participation rate ticked higher.
US consumer continues to exude confidence in July, University of Michigan says
Americans continued to exude confidence last month with confidence in the outlook for their personal finances still near multi-decade highs, the results of a closely-followed survey revealed.
FX round-up: Japanese yen jumps after US levies 10.0% tariff on remaining Chinese exports
The focus in foreign exchange markets on Thursday was on Asian currencies after the US President announced on his personal account on Twitter that in September, as the next round of negotiations got underway with China, Washington would "start" to impose a 10. 0% levy on the remaining $300. 0bn-worth of Chinese exports which had been exempt from trade tariffs up until now.
Commodities: Futures reel after US President extends tariffs to almost all Chinese exports
Commodity prices were lower almost across the board on Thursday, after the US central bank decided overnight to push back on expectations for interest rate cuts extending out into 2020 and the US President announced the decision to impose tariffs on almost all the remaining Chinese imports to the US not yet covered by trade levies.
US ISM manufacturing PMI slips below forecasts in July
US manufacturing sector growth slowed further last month according to the results of perhaps the most closely-followed gauge for the space.
China and US to resume trade talks in September
US and Chinese trade negotiators are set to resume the talks in early September even after the latest round of negotiations in Shanghai ended with little progress.
US jobless claims rise more than expected during latest week
US jobless claims rose by more than expected last week but remained near record low levels.
Trump's ex-economic adviser warns tariffs 'backfiring' on US economy
Donald Trump’s ex-economic advisor Gary Cohn said on Wednesday that the trade war and the tariffs were backfiring and impacting on the US economy.