News

The post Eco Data 6/4/25 appeared first on Action Forex.

A division of the New York Stock Exchange has filed to list a spot bitcoin ETF tied to Donald Trump’s Truth Social platform.

Iran is open to basing a nuclear deal with the U.S. around the idea of a regional uranium enrichment consortium, so long as it is located within Iran

Axios with the info, citing an Iranian official:

• “If the consortium operates within the territory of Iran, it may warrant consideration. However, should it be based outside the borders of the country, it is certainly doomed to fail,” the senior Iranian official told Axios.

—

Seems some sort of deal is taking shape. Its been a long time coming, and don’t want to count chickens etc ….

If a deal comes to fruition market perception is its bearish for oil due to Iranian oil likely to return more fully to market.

Brent update:

This article was written by Eamonn Sheridan at www.forexlive.com.

Japan’s Komeito party, the junior partner in the ruling coalition, plans to propose lowering the consumption tax on food from 8% to 5% as part of its campaign platform for the July upper house election, according to the Yomiuri newspaper.

The proposal, expected to be officially announced on Friday, also includes cash handouts to help households cope with rising living costs. The stimulus measures would be financed by higher-than-expected tax revenues rather than new government borrowing, the report says.

Japan currently levies an 8% tax on food and 10% on other goods, with the revenue largely used to support social welfare spending in an ageing society.

Komeito’s proposal may increase pressure on Prime Minister Shigeru Ishiba and the main ruling Liberal Democratic Party to boost fiscal support ahead of the vote. However, Ishiba and senior LDP figures have resisted opposition calls for a tax cut, warning it could worsen Japan’s already strained public finances.

Japan PM Ishiba

This article was written by Eamonn Sheridan at www.forexlive.com.

The Bank of Canada is expected to keep its key interest rate at 2.75% this week, with 11 of 13 surveyed economists forecasting no change (Wall Street Journal survery).

• While unemployment is rising and domestic demand has slipped, stronger-than-expected Q1 GDP growth—boosted by tariff-avoidance spending—shows some economic resilience.
• Policymakers are prioritising rising core inflation, which hit 3.15% in April, above the BoC’s 2% target and its fastest pace in nearly a year.
• Trump’s move to double U.S. tariffs on steel and aluminium (key Canadian exports) has raised caution around the inflation outlook and policymaking.

Though a cut is unlikely this week, most economists expect further easing later this year, possibly starting in July if domestic weakness persists.

—

The announcement is due at 0945 US Eastern time:

• Bank of Canada Governor Macklem’s news conference follows 45 minutes later

This article was written by Eamonn Sheridan at www.forexlive.com.

U.S. authorities have charged two Chinese nationals—Yunqing Jian and Zunyong Liu—with smuggling and conspiracy after one of them allegedly brought a dangerous agricultural fungus, Fusarium graminearum, into the country hidden in a backpack.

• The pathogen, which can infect crops like wheat, maize, and rice and pose health risks to animals and humans, is considered a potential agroterrorism weapon, according to the FBI.
• Jian and Liu, who worked in a University of Michigan lab, also face charges of making false statements and visa fraud. Liu, identified as a Chinese Communist Party member, was previously denied entry to the U.S. in July 2024 after inconsistencies in his explanation about suspicious plant material found in his possession.
• U.S. Attorney Jerome Gorgon Jr. called their alleged actions a serious national security concern. Jian remains in custody pending a bond hearing.

–

This could be considered a hostile act from China.

This article was written by Eamonn Sheridan at www.forexlive.com.

China commerce ministry:

• Minister Wang Wentao met with the European Trade Commissioner Sefcovic in France on Tuesday
• The two sides conducted concentrated, candid and in-depth discussions on urgent and important topics surrounding China-EU economic and trade cooperation, and ask both teams to intensify efforts to make preparations for important agenda between China and the EU this year.

• WTO should strengthen supervision over unilateral tariffs, put forward objective and neutral policy proposals

• China firmly upholds the multilateral trading system and supports the WTO in playing a more important role in global economic governance

• Met with Canadian Minister of International Trade

• Both had pragmatic and frank communication on China-Canada economic and trade relations
• Both sides should resolve their economic and trade differences and concerns through dialogue and consultation, deepen practical cooperation
• Two countries should strengthen multilateral and regional coordination and cooperation, firmly safeguard multilateral trading system

The enemy of my enemy is my friend. Etc.

This article was written by Eamonn Sheridan at www.forexlive.com.

The British Pound (GBP) is trading flat against the US Dollar (USD) on Tuesday, edging slightly lower from its intraday high while remaining within Monday’s range.

The Mexican Peso (MXN) is trading in a tight range against the US Dollar (USD) on Tuesday, following the Greenback’s recovery from Monday’s sell-off.

Federal Reserve (Fed) Board of Governors member Lisa D. Cook noted on Tuesday that although the US economy appears to be in a healthy place for the time being, the biggest economic threat to stability remains the Trump administration’s trade policies.