Author: FX
U.S. Treasury Secretary Scott Bessent said a trade deal with Japan remains in the “realm of possibility,” but emphasized that securing a good deal is more important than rushing one. He indicated that negotiations are ongoing and that the outcome of Japan’s upcoming election could be pivotal to reaching an agreement. Hope springs eternal, but Japan was insulted by the tariff letter. Also on tariffs, the Financial Times reported that President Trump is pushing for a 15–20% minimum tariff on all EU goods, down from the previously floated 30% in “the letter.” He also refuses to reduce the existing 25%…
The NASDAQ index is closing the day higher and has closed at record levels each day of this week. The gain however, was marginal with a rise of only 0.05%. Nevertheless, it was good enough for a record. The NASDAQ has closed at a record level 11 different times this year. The index rose 11.39 points or 0.5% to 20,895.66What wasn’t good enough for a record, was S&P’s declined of -0.01%. Yesterday, the S&P closed at a new record level for the ninth time in 2025.The Dow industrial average did not fare as well with a decline of -0.32% today…
QuantumScape (QS), the leading commercial developer of solid-state batteries, has now rallied for nine consecutive sessions. This has led the battery maker to a new three-year high with shares reaching $15.03 in Friday’s afternoon session.QuantumScape continues to benefit from news of its state-of-the-art Cobra separator process reaching production goals, which will allow the company to begin commercializing its battery technology over the next two years.The broader market has seen investors head for the exit after a positive week that saw many new index highs. The S&P 500 has gained above half a percentage point this week, while the NASDAQ Composite…
Next week, the Fed will be in the quiet period ahead of the FOMC rate meeting on July 30. The S&P Global flash manufacturing and services data will be released for Europe and the US on Thursday. The ECB will likely keep rates unchanged, but given the tariff threat, will likely be biased to more easing (although they are also near neutral rates now).US initial jobless claims fell to 221K last week and moved back toward the lower levels after a modest rise toward 250K. Below is the scheduled of released.Sunday, July 20 6:45pm ET – NZD CPI q/q –…
California Gov. Gavin Newsom proposes to ease permits for oil drilling in California.Governor Gavin Newsom has not supported new drilling, but is also under pressure to stabilize energy supplies, particularly after recent refinery closure announcements. While he remains committed to phasing out oil drilling by 2045, state regulators have recommended limited new well permitting as part of a transition strategy. The Trump administration initiated a major review process to restart oil and gas leasing on federal lands in California, marking the first significant step toward expanding fossil fuel development in the state in years. The U.S. Bureau of Land Management…
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According to the Financial Times, US President Donald Trump has escalated his demands to the European Union (EU), eyeing at least a minimum tariff of 15% to 20% in a deal with the Eurozone, revealed three people briefed on talks.Key quotes:The US president’s hardened stance aims to test the EU’s pain threshold after weeks of talks on a framework agreement that would have maintained a baseline tariff of 10% on most goods.People familiar with the negotiations say Trump has also been unmoved by the latest EU offer to reduce car tariffs, and would be happy to keep duties on the…
The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) is the first comprehensive federal law to regulate U.S. dollar–backed stablecoins. It outlines clear rules for who can issue stablecoins, how they must be backed, and what compliance standards they must meet.Stablecoins are a type of cryptocurrency designed to maintain a stable value, typically by being pegged to a reserve asset like the U.S. dollar, euro, or gold.Key Characteristics:Price Stability: Stablecoins aim to keep their value steady (e.g., 1 stablecoin = $1).Reserve-Backed: Most are backed by assets such as:Used for Payments & Trading: Common in digital payments, crypto…
Silver (XAG/USD) is holding firm near $38.00 after hitting a 14-year high earlier this week.The metal remains supported by an ascending channel on daily and weekly charts.RSI and ADX on the daily chart are turning higher, signaling a possible return in bullish momentum.Silver (XAG/USD) is treading water on Friday, with spot prices hovering near $38.25 after marking a fresh 14-year high of $39.13 earlier this week. The metal continues to draw support from a firmly bullish structure, trading within a well-defined ascending channel on both the daily and weekly charts. While momentum has cooled slightly near multi-year highs, the broader…
Hedge funds lure record inflows in first half of 2025 Source link