China’s retail sales growth quickened in January-February in a welcome sign for policymakers’ efforts to boost domestic consumption even as joblessness rose and factory output eased, underscoring the strains on an economy facing fresh U.S. trade pressure.
Asian stocks rose on Monday tracking optimism over the Chinese economy after Beijing outlined targeted measures to boost spending, although persistent concerns over a U.S.-led trade war kept gains limited.
Oil prices traded higher on Monday after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping.
The U.S. dollar hovered close to a five-month low against its major peers on Monday, pressured by President Donald Trump’s erratic trade policies and a run of soft macroeconomic data.
U.S. President Donald Trump on Thursday threatened to slap a 200% tariff on wine, cognac and other alcohol imports from Europe, opening a new front in a global trade war that has roiled financial markets and raised recession fears.
The number of Americans filing new applications for unemployment benefits fell last week, but sharp government spending cuts and an escalating trade war threaten labor market stability.