Author: Daniel snow
Asia FX tread water amid fresh Trump tariff moves, Fed caution Source link
Japan unlikely to face US pressure to strengthen yen, ex-top FX diplomat says Source link
This photo taken on Nov. 24, 2022 shows the building of Bank of Korea BOK in Seoul, South Korea. South Korea’s central bank on Thursday raised its policy rate to curb inflation, delivering six back-to-back rate hikes for the first time. (Photo by Wang Yiliang/Xinhua via Getty Images)Wang Yiliang | Xinhua News Agency | Getty ImagesSouth Korea’s central bank held its policy rate at 2.5%, keeping it steady at an almost three-year low.South Korea’s economy contracted by 0.2% quarter on quarter in the first three months of this year due to weak construction activity and softening export growth, while it…
Copper wires at a recycling facility in Salt Lake City, Utah, US, on Thursday, May 8, 2025. Niki Chan Wylie | Bloomberg | Getty ImagesU.S. President Donald Trump said that the 50% tariff on copper imports, which he announced earlier on Tuesday, will begin on Aug. 1.The decision was made after he received a national security assessment, Trump said in a post on Truth Social.”I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT,” Trump wrote. “Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile…
CNBC’s Jim Cramer on Wednesday reflected on the significance of one of his long-time favorite stocks, Nvidia, just after the artificial intelligence powerhouse became the first company to amass $4 trillion in market cap during trading.”The fact is, neither Microsoft nor Apple can claim that they’re currently creating a new industrial revolution, like Nvidia can,” he said. “In fairness, they did create the last industrial revolution, the rise of the personal computer, although that was a long time ago.”Nvidia topped $4 trillion for the first time during the day’s session, but it closed up 1.8% to settle at a market…
How does the new SALT deduction work? Here’s what to know. Source link
Bitcoin briefly rose above $112,000 to a record high Wednesday afternoon. However, the rally may stall if the trade tensions intensify, according to some analysts. Source link
President Donald Trump signed his “big beautiful” spending bill into law on July 4.One provision is an increase to the maximum child tax credit, raising it from $2,000 per eligible child to $2,200 beginning in 2026. The 2017 Tax Cuts and Jobs Act temporarily increased the credit from $1,000 to $2,000, but was set to expire after 2025 without action from Congress.The child tax credit is a partially refundable tax credit available to taxpayers with children or dependents under age 17 who meet certain eligibility requirements, including having a Social Security number and living with the taxpayer for at least half of…
The letters AI, which stands for “artificial intelligence,” stand at the Amazon Web Services booth at the Hannover Messe industrial trade fair in Hannover, Germany, on March 31, 2025.Julian Stratenschulte | Picture Alliance | Getty ImagesAmazon said Wednesday that its cloud division has developed hardware to cool down next-generation Nvidia graphics processing units that are used for artificial intelligence workloads.Nvidia’s GPUs, which have powered the generative AI boom, require massive amounts of energy. That means companies using the processors need additional equipment to cool them down.Amazon considered erecting data centers that could accommodate widespread liquid cooling to make the most…
U.S. President Donald Trump answers questions during a multilateral lunch with African leaders in the State Dining Room of the White House July 9, 2025 in Washington, DC. Win McNamee | Getty ImagesPresident Donald Trump said Wednesday the U.S. will slap a 50% tariff on Brazil’s imports, partly in retaliation for the ongoing prosecution of the country’s former president, Jair Bolsonaro.Trump said in a letter that the new tariff — a massive jump from the 10% rate the U.S. imposed on Brazil in early April — is also being imposed in response to the “very unfair trade relationship” between the…