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ForexLive
3h ago
Major US stock indices close sharply lower.
US consumer credit for December $40.85B vs $12.35B estimate
Details of the joint statement from Pres. Trump and Japan PM Ishiba
Crude oil futures settled at $71 a barrel
Trump: Japan to double defense spending by 2027. US committed to the defense of Japan
Ukraine Zelenskiy to Trump: "Let's do a deal" but stresses the need for secuity guarantees
Reuters: Canada PM Trudeau says Pres Trump talk about absorbing Canada is real
More from Fed's Kugler: Stable labor market gives the Fed time to make decisions
EU to offer lower tariffs on US car imports in e ..read more
ForexLive
3h ago
The major US stock indices are closing sharply lower for the day. The final numbers are showing:
Dow industrial average -444.23 points, or -0.90% at 44303.40
S&P index -57.58 points or -0.95% at 6025.99
NASDAQ index -268.59 points or -1.36% at 19523.40
Russell 2000-27.41 points or -1.19% at 2279.70
For the trading week, the declines today turn the major indices lower for the second consecutive week:
Dow industrial average fell -0.54%
S&P -0.24%
NASDAQ index -0.53%
Russell 2000-0.35%
This article was written by Greg Michalowski at www.forexlive.com ..read more
ForexLive
3h ago
The USD moved sharply higher at the start of the week on the Canada and Mexico tariff news. Those tariffs got a reprieve and the USD moved lower. Today, the greenback was mixed after the jobs report and the Michigan consumer sentiment but for the week, the greenback was mostly lower.
The only currency that the USD moved higher on the week was the EUR. The EURUSD fell -0.27% (USD higher).
The dollar was the weakest vs the JPY on hopes that the BOJ would keep the tightening going which helped to support the JPY. The USDJPY moved to the lowest level since December and back below its 100 and 200-d ..read more
ForexLive
5h ago
Prior month -$7.49 B revised to -$5.37%
US consumer credit for December came in higher than expected at $40.85B vs $12.35 B est.
Revolving credit +$22.9B vs -$13.9B last month
Nonrevolving credit +$18.0B vs +$8.5 B last month
This article was written by Greg Michalowski at www.forexlive.com ..read more
ForexLive
5h ago
In a joint statement,
Reiterate opposition by China to change the status quo by force in the East China Sea.
Opposition to Chinese militarization in the South China Sea was expressed, calling for a peaceful resolution of Taiwan Strait issues.
Intention was confirmed to upgrade command and control frameworks of U.S. and Japanese forces, increasing bilateral presence in Japan's southwest islands.
Concern was expressed over North Korea's nuclear program.
The need to deter North Korea's cyber activities and increasing military cooperation with Russia was emphasized.
Agreement was reached to incre ..read more
ForexLive
5h ago
Crude oil futures settled $71 a barrel, up $0.39 or 0.55%.
For the week, the price of crude oil has moved down -2.12%
This article was written by Greg Michalowski at www.forexlive.com ..read more
ForexLive
5h ago
Pres. Trump comments
Prepared to double defense spending by 2027
Approved $1B in foreign military sales for Japan
Discussed how our two nations can stay on the cutting edge of artificial intelligence
Japan assumed beginning 40 new shipments of American liquefied natural gas
We are going to work on trade deficit with Japan
We can do it with just oil and gas
Japan will be opening new auto plants
Nissan is looking to make an "investment" in US Steel (I think he meant Nippon Steel not Nissan)
Japan PM Ishida comments:
Confirmed that Japan will increase exports on US natural gas to Japan
Japan a ..read more
ForexLive
6h ago
Here is the stream for the Trump-Ishida press conference:
This article was written by Adam Button at www.forexlive.com ..read more
ForexLive
6h ago
Joe Biden rejecting the Nippon Steel bid for US Steel based on 'national security' concerns marks one of the low points of his Presidency.
It was a non-sensical decision at the same time as the administration was paying foreign companies to build and own chip fabs in the USA.
Trump also spoke out against it, saying he would block it repeatedly.
"I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan," he wrote in December.
Naturally, Trump is now in deal-making mode and it appears to be on the table.
CBS reports that he ..read more
ForexLive
7h ago
Ukraine's Zelenskiy is on the wires saying:
Russia controls half of Ukraine's rare earth deposits, less than 20% of Ukraine's mineral wealth.
On Trump's call for Kyiv to supply rare earths: "Let's do a deal," but stresses the need for security guarantees.
It is "very important" to meet U.S. President Trump in person before Trump meets Russian President Putin.
Kyiv and White House in discussions about opening Ukrainian underground gas storage sites to hold U.S. LNG.
Will attend the Munich Security Conference from February 14-16.
Ukraine advanced 2.5 km in Russia's Kursk region during an offens ..read more