Stellantis laying off 900 workers at five U.S. facilities following Trump tariff announcement the firm is also pausing production at one assembly plant each in Mexico and Canada In a letter sent to employees ... the firm said its "continuing to assess the medium- and long-term effects of these tariffs on our operations, but…

Barclays has flagged downside risks to its $74 per barrel forecast for Brent crude in 2025, citing the escalating global trade war. Analysts at the bank noted that mounting trade tensions are likely to dampen global economic activity and oil demand, tilting the risks to its price outlook to the downside. *** Hard to…

Between Oct. 25, 2024, and Jan. 16, 2025, XRP (XRP) had one of the best rallies of the current bull market, gaining 600% as investors piled in with the hope that a pro-crypto presidency would benefit Ripple and its cryptocurrency. During this time, the quarterly average of daily active addresses jumped by 490% and…

The diplomatic cost of the US president’s tariffs will be enduring

Deutsche Bank is out wit ha quick note on the tariffs: Quick summary of President Trump's announcements: tariffs on the American continent are lower than expected, European tariffs are as expected, tariffs on Asia significantly higher than expected. There should be a straightforward FX re-adjustment between Asia FX (weak) and Latam FX + CAD (strong)…

Stock futures tumble as US reveals plans to impose 10% universal levies and higher ‘reciprocal’ duties

Trump announced a 10% baseline tariff on all imports, with higher rates for major trading partners, including 34% on China and 20% on the EU. 'Risk' was slammed lower, with yen and gold benefitting. EUR/USD trade under 1.0820 and has now recovered to above 1.0910 as I post. This is only going…

Cryptocurrency exchange OKX reportedly hired former New York Governor Andrew Cuomo to advise it over the federal probe that resulted in the firm pleading guilty to several violations and agreeing to pay $505 million in fines and penalties. Cuomo, a New York-registered attorney, advised OKX on legal issues stemming from the probe sometime after August…

Billionaire backs case brought by Coinbase client whose data was surrendered to authorities

The New Zealand dollar is barely moved on the data - the impacts on the currency are mainly coming from Trump tariff developments. We get the next lot of tariffs at 4pm US Eastern time on Wednesday, April 2, 2025. …