We’d already assumed substantial US tariffs on China in our forecasts. But the latest hikes take them even higher than we had anticipated. The economic hit to China will range between 0.5-1.0% of GDP...

Whilst buying gold may reduce central banks’ overall exposure to the dollar, we don’t think that the surge in central bank gold demand reflects a severe loss of confidence in the greenback. Instead...

The PMIs suggest that infrastructure spending is ramping up again and that exports have so far remained resilient in the face of US tariffs. But the surveys are still consistent with slower GDP growth...

The US would have to exert a lot of pressure to coerce most major countries into putting large tariffs on goods from China. Curtailing trade with China would have an economic cost and even countries...