The U.S. dollar firmed against its major counterparts on Tuesday, as weaker-than-expected trade data from China, and Moody's downgrade of the credit ratings of about ten small and mid-sized banks in the U.S lifted the currency's safe-haven appeal.
China's exports and imports both fell more than expected in July, threatening recovery prospects and adding to pressure on policymakers to unveil additional stimulus.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.