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US and Canada Near Deal to Lower Steel and Aluminum Tariffs
A tentative agreement would cut US tariffs on certain Canadian steel and aluminum imports from 50% to 25%, with talks still ongoing.
Gold Nears $4,500 as US Dollar Slides
Gold is approaching $4,500 for the first time in over two years as the US dollar faces strong selling pressure on Wednesday.
WTI Oil Hits Three-Week High on Middle East Supply Risks
West Texas Intermediate crude rose to its strongest level in more than three weeks as Middle East supply concerns continued to support prices.
US Daily Interest Costs Now Outpace Medicare and Defense Spending
The US government is spending $3.8 billion per day on interest, above daily Medicare and defense outlays, with estimates pointing to roughly $5 billion per day by 2028.
Trump Announces Heidi Overton to Work With Kennedy, Oz on Drug Price and Trial Reforms
Trump highlighted Dr. Heidi Overton's medical and public-health background and said she will work with Secretary Kennedy and Dr. Oz on faster cures, clinical trial reforms, and lower drug prices.
Trump Taps Dr. Heidi Overton as Next FDA Commissioner
President Trump announced on Truth Social that he is nominating Dr. Heidi Overton, MD, PhD, to lead the FDA, citing her work with Secretary Kennedy and Dr. Oz on health policy.
US 10-year Treasury yield falls as Treasury moves to calm bond market
The US 10-year Treasury yield dropped sharply on Wednesday to 4.651% after an earlier intraday high, with the Treasury stepping in to calm the bond market.
UK Inflation Rises to 2.9% on Higher Energy Costs
UK headline inflation reached 2.9% year-on-year in July, mainly driven by higher household energy costs, Societe Generale's Sam Cartwright notes.
BoE Rate Hold Seen as Baseline by Societe Generale
Societe Generale expects the Bank of England to keep Bank Rate at 3.75% through 2026, citing softer UK services inflation and a loosening labour market.
Sainsbury named biggest donor to Burnham with over £160,000
Billionaire David Sainsbury reportedly gave more than £160,000 to Andy Burnham’s Labour leader campaign, covering staffing, travel and office costs.
Fed Minutes to Reveal Depth of FOMC Hawkish Split
The Federal Reserve is set to release minutes from its July FOMC meeting, with markets watching for how divided policymakers were on the hawkish side.
US Treasury Doubles Long-Term Debt Buybacks to at Least $4 Billion
The US Treasury will expand its long-term government debt repurchases from $2 billion to at least $4 billion after a sharp rise in Treasury yields.
US Treasury to double some long-dated debt buybacks
The U.S. Treasury announced Wednesday it will double the size of certain buyback operations designed to support liquidity in longer-dated Treasury securities.
Fed Minutes Show Three Members Wanted a Rate Hike
The latest Federal Reserve minutes reveal three policymakers were concerned about inflation and favored a rate increase, but were outvoted.
China Data Mixed as Policy Support and Structural Shifts Continue, HSBC Says
HSBC strategists say China's July activity was mixed, with softer retail sales and fixed asset investment while industrial output and exports were supported by AI-related and green technology.
AI Cut US Payrolls by 16,000 Jobs a Month, Goldman Says
Goldman Sachs Research estimates AI lowered US payroll growth by about 16,000 jobs per month over the past year and added roughly 0.1 percentage point to the unemployment rate.
Clarity Act Signing Odds Plunge to 20% for 2026
Market-implied odds of the Clarity Act being signed into law in 2026 have dropped to 20% from more than 80% just months ago.
Canada-EU diversification push faces EU protectionist hurdles, NBC says
National Bank of Canada's Angelo Katsoras warns that Canada's plan to diversify exports away from the US toward the EU is running into more protectionist EU industrial policy.
Employers Use Personal Data to Estimate Workers’ Salary Floors
Companies are turning to personal and behavioral data to estimate the lowest salary a candidate would accept, raising concerns about privacy and unequal pay.
Gold Bounces to $4,370 but Upside Momentum Fades
XAU/USD recovered toward $4,370 on Wednesday after finding support near $4,300, though the rebound is showing signs of losing steam.
WTI Needs Decisive Break Above $85 for Fresh Advance
NYMEX WTI futures traded about 0.55% higher near $84.80 during European hours, with $85 still seen as the key hurdle for a stronger move.
Gold seen supported as Fed Chair stance lowers 2026 hike odds
The new Fed Chair may lean on markets to do some tightening, cutting the chance of a 2026 rate hike and supporting gold.
Micro WTI Crude Oil Futures Navigate Between Arc Levels
Arc Cycle Analysis on the 30-minute chart shows Micro WTI Crude Oil futures trading between the 0.786 Arc and the 1 (100%) Arc.
Turkish Energy Ministry in Damascus for Electricity, Power Lines, Minerals Talks
Turkish Ministry of Energy officials have arrived in Damascus to discuss energy-sector issues including electricity, power lines, and minerals.