January 24, 2025
United States:
Dollar Slides as Trump Softens China Tariff Stance
The dollar dropped to a one-month low after President Donald Trump appeared to soften his approach toward tariffs on China. Stock futures fluctuated after the S&P 500 scaled a fresh peak.
The president said in an interview with Fox News that he would “rather not” use tariffs against the world’s second-largest economy.
Europe:
Euro Zone’s Private Sector Unexpectedly Returns to Growth
The euro area’s private sector grew in January after two months of contraction, surprising analysts as the embattled manufacturing sector showed small signs of improvement.
S&P Global’s Composite Purchasing Managers’ Index rose to a five-month high of 50.2 from 49.6 the previous month, edging back above the 50 level that separates expanding from shrinking output.
Asia:
BOJ’s Clear Guidance on Rate Hike Calms Markets But May Backfire
Bank of Japan Governor Kazuo Ueda raised interest rates to the highest level since 2008, avoiding market turmoil by carefully signaling his plans to investors. But that strategy carries its own risks.
Ueda and his board hiked the overnight policy rate to 0.5% on Friday in a move that was almost entirely priced in by traders.
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