TARGET WARNS FEBRUARY SALES WERE SOFT, ADDING TO CONCERNS ABOUT CONSUMER HEALTH Target expects a significant Q1 profit drop due to soft February sales and consumer uncertainty. Tariffs and a slow start to the year contribute to concerns. Similar warnings come from Walmart and E.l.f. Beauty regarding weak
XAU/USD STRUGGLES WITH $2,900 EXTENDS DESPITE ESCALATING TARIFF WAR Gold price consolidates near $2,900 early Tuesday, after recent rebound. US economic growth concerns outweigh global tariff war fears, affecting the US Dollar and Treasury yields. Gold faces resistance at the 21-day SMA near $2,900, with daily
CHINA RETALIATES WITH ADDITIONAL TARIFFS OF UP TO 15% ON SOME U.S. GOODS FROM MARCH 10 China imposes new tariffs up to 15% on U.S. goods, mainly targeting corn and soybeans. Export controls affect 15 U.S. companies, including Leidos and General Dynamics. U.S. tariffs on Chinese
EUROPE TO MOBILIZE $840 BILLION IN DEFENSE SPENDING BOOST EU plans to increase defense spending by up to 800 billion euros ($841 billion). Focus on supporting Ukraine and strengthening long-term European security. Ursula von der Leyen emphasizes Europe's commitment to greater security responsibility.
OIL DEEPENS SHARP LOSSES, FALLS TO LOWEST LEVEL IN 4 MONTHS Crude oil futures hit their lowest since October, extending losses. U.S. tariffs on Canada, Mexico, and China contribute to the drop. OPEC Plus to increase production by 138,000 barrels per day in April, adding to supply and
RBA RATE CUT IN FEBRUARY - WEIGHT PLACED ON DOWNSIDE RISKS TO ECONOMY RBA Board judged the case for a rate cut as stronger, considering downside risks. Concern over keeping policy too tight for too long. No commitment to further rate cuts, but caution expressed about additional easing. Inflation slowdown
AUSTRALIA’S RETAIL SALES REBOUND IN JANUARY. Australian retail sales rise 0.3% in January, meeting expectations. Rebound from December’s 0.1% decline. Consumer spending picks up amid easing inflation and tax cuts. Annual retail sales increase by 3.8%.
EUR/USD rose above 1.0500 due to a weaker US Dollar. The US Dollar dropped despite worries about tariffs. Tariffs on Canada and Mexico are expected to start on March 4.
NZD/USD is falling close to 0.5600 in early Asian trading on Tuesday. The drop is due to concerns over new US tariffs. China is planning to respond to these tariffs with countermeasures. US manufacturing data (ISM PMI) was weaker than expected, dropping to 50.3 from 50.9.
Wall Street had a big drop on Monday. Investors got scared because of new tariffs from President Trump. Tariffs on Canada and Mexico will start on Tuesday. People started selling stocks, causing prices to fall.
Gold price stays near its recent recovery but is still below $2,900. Concerns about Trump’s tariff policies and a possible global trade war affect the market. Geopolitical risks may increase demand for gold as a safe investment.
BITCOIN TUMBLES 9%, REVERSING MOST OF THE RALLY FROM TRUMP’S CRYPTO RESERVE ANNOUNCEMENT Bitcoin drops 9%, trading around $85,000. The decline follows concerns over proposed tariffs and their economic impact. Earlier optimism from Trump’s crypto reserve announcement fades. Ether also down 15%, trading at $2,100.