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  • May 12, 2025

ECB to stand by past stimulus policies in strategy review

FRANKFURT (Reuters) -The European Central Bank will stand by its aggressive stimulus policy of the last decade in a strategy review, side-stepping calls for self-criticism after a bout of high inflation and sizeable losses, several ECB policymakers told Reuters. The review, which began in March, will address some big questions about the way the ECB works, including whether massive bond purchases, negative interest rates and giving guidance on the future path for rates remain good policy tools. Conversations with ECB policymakers suggest the euro zone's central bank will largely endorse its past largesse, making only minor changes to a strategy document that was last updated four years ago.

  • May 12, 2025

Gold Holds Heavy Loss as Markets Latch Onto US-China Optimism

(Bloomberg) -- Gold steadied after a sharp selloff as a major de-escalation in US-China trade tensions hurt demand for havens.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits Trump on Fire Aid, Stays Wary on ImmigrationBullion traded near $3,240

  • May 12, 2025

With a hiatus in the trade war, it is back to the grind

Six weeks into the turmoil spurred by U.S. President Donald Trump's "Liberation Day" tariffs, the recurring lessons seem to be: wait for the details and buy the dip. And while a Trump social media post on Sunday about high U.S. drug prices caused a massive selloff in Japanese pharma shares on Monday, the actual executive order puts the bullseye more on cheaper drugs overseas, prompting a bounce back in healthcare stocks on the Nikkei. Trump's comments about a pricey "fat shot drug", presumably speaking of injectable obesity treatments from Novo Nordisk and Eli Lilly, could mean pressure for cost cuts in the U.S. or increases in Europe.

  • May 12, 2025

Traders Slash RBA Easing Bets as US-China De-Escalate on Tariffs

(Bloomberg) -- Traders are winding back bets on aggressive monetary easing by Australia in a cascading effect from the US and China agreeing to temporarily lower tariffs on each other’s products.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits T

  • May 12, 2025

AP Top Extended Financial Headlines at 4:03 a.m. EDT

The lead U.S. negotiator in trade talks with China cheered “a great deal of productivity” in resolving differences between the world's two leading economic powers, after officials wrapped two days of bargaining in Switzerland following President Donald Trump imposing steep tariffs and Beijing retaliating

  • May 12, 2025

Chinese Rare Earth Firms Ask for Official Clarity on US Exports

(Bloomberg) -- Chinese rare-earth exporters are asking the government to clarify whether they’re allowed to sell to the US, after Beijing and Washington called a ceasefire in their trade war.Most Read from BloombergA New Central Park Amenity, Tailored to Its East Harlem NeighborsAs Trump Reshapes Housing Policy, Renters Face Rollback of RightsWhat’s Behind the Rise in Serious Injuries on New York City’s Streets?NYC Warns of 17% Drop in Foreign Tourists Due to Trump PoliciesLA Mayor Credits Trump

  • May 12, 2025

Australia's pension funds start questioning US strategies

SINGAPORE/SYDNEY (Reuters) -Funds in Australia's A$4.2 trillion ($2.7 trillion) pension sector are rethinking some of their long-held strategies of buying U.S. assets and the dollar, as confidence in American growth wanes. Volatility around Sino-U.S. trade tensions this year has forced investors to reassess their U.S. exposure and the role of the dollar, which has lately failed to behave as a safe haven currency amid heightened uncertainty around Washington's economic policy. While there have not yet been any major shifts in strategy, currency dealing desks in Australia have noticed modest changes in hedging demand from some pension funds.

  • May 12, 2025

India considers counter duties on US products, notice to WTO shows

India is looking at levying import duties on some products made in the United States to counter Washington's tariffs on steel and aluminium products, a document submitted to the World Trade Organization shows. "The proposed suspension of concessions or other obligations takes the form of an increase in tariffs on selected products originating in the United States," the document dated May 12 said. It did not say what kind of products might be subjected to tariffs.

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