The US dollar is broadly higher against Asian FX despite the People's Bank of China setting USD/CNY at its strongest (for the CNY) since April 7. USD/JPY has added to its earlier gains: I posted earlier: Hong Kong central bank intervenes in the Hong Kong dollar And last week conveyed the analysis of Goldman…

Samourai Wallet’s lawyers allege federal prosecutors suppressed advice that the firm didn’t need a license before they charged executives at the crypto mixing service months later.  In a May 5 letter to a Manhattan federal court, lawyers for Samourai co-founders Keonne Rodriguez and William Hill said prosecutors disclosed that the US Treasury Department’s Financial Crimes…

Elite US university in president’s crosshairs for alleged leftwing bias

Australian March 2025 Building Permits -8.8% m/m expected -0.6%, prior -0.3% For the y/y +13.4% prior +25.7% Also out were data for Australian Household Spending in March: -0.3% m/m, its slowest in 6 months +0.2% expected and +0.2% prior +3.5% y/y vs. expected 3.9%, prior 3.3% AUD/USD little changed, circa 0.6450…

Romanian "hard-right" (pundit desciption) candidate George Simion is leading the presidential election with 40% of the vote after 95% of ballots were counted, excluding those from the diaspora, according to official data released Sunday. Centrists Nicușor Dan and Crin Antonescu had been running neck and neck, but Dan has now edged into second place,…

Reuters conveying the information that OPEC+ is preparing to fast-track oil output hikes through October and may scrap 2.2 million barrels per day (bpd) of voluntary production cuts by November if member compliance does not improve. Reuters cite according to five sources. The decision follows April's surprise move to raise output faster than expected, a…

Trump has refused to rule out the use of military force to take control of Greenland, calling the territory vital for American security interests. “I don’t rule it out. I don’t say I’m going to do it, but I don’t rule out anything,” Trump said in an interview with NBC’s Meet the Press on Sunday.…

Wall Street futures rise with S&P 500 close to erasing losses since Donald Trump’s ‘liberation day’ tariff announcement

Happy Friday. Futures are upbeat on the comments from China about trade but I find the comments from Japan to be the story today, as the US appears to be set on leaving the majority of tariffs on permanently, including the 10% floor. In any case, the market can turn away from tariffs for a…

Shares in US company tumble as launch of latest version of best-selling game is delayed