US Durable Goods Orders Fall | US to Delay China Tariffs
Published June 26, 2019
US durable goods orders declined by 1.3 percent on a monthly basis in May, lower than the market expectation; consensus forecasts called for an unchanged reading. The US Dollar Index was trading sideways this morning, at 96.29 levels.
The US could delay imposing additional tariffs on US$300 billion of Chinese imports while Beijing and Washington prepare to resume trade negotiations, people familiar with the plans said.
US Treasury Secretary Mnuchin said that the US-China trade deal is 90 percent complete and he is confident that both the parties can make progress in stalled trade talks. President Donald Trump is scheduled to meet his Chinese counterpart Xi Jinping on Saturday at the Group of 20 Summit in Japan.
Federal Reserve Chairman Jerome Powell said that the economic outlook has deteriorated since early May, causing the central bank to reassess its next move on interest rates. Powell further stated that the Fed would continue to watch economic events unfold and would avoid reacting to short-term issues.