{"id":161462,"date":"2025-05-06T10:52:19","date_gmt":"2025-05-06T09:52:19","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/tariffs-dollar-rises-as-stocks-gain"},"modified":"2025-05-06T12:02:46","modified_gmt":"2025-05-06T11:02:46","slug":"tariffs-dollar-rises-as-stocks-gain","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain","title":{"rendered":"Tariffs: Dollar rises as stocks gain"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The dollar rose in Asia on Tuesday, fuelled by hopes for trade deals to avert US President Donald Trump\u2019s sweeping tariffs, while equities mostly rose as investors await the Federal Reserve\u2019s latest policy decision.<\/p>\n<p>Similarly, oil staged a comeback after tanking on news of an output hike by key producers that came despite growing concerns about demand and the outlook for the global economy.<\/p>\n<p>While no agreements have yet been reached with the White House, there is said to be hope that governments are making progress in averting or tempering the US president\u2019s eye-watering levies, which have sent shivers through world markets.<\/p>\n<p>Sentiment was given a lift by US Treasury Secretary Scott Bessent, who said that the administration had been approached by 17 countries and offered \u201cvery good\u201d trade proposals.<\/p>\n<p>Bessent also stated that there could be substantial progress in the coming weeks with China, which has been hit with tariffs of 145 percent.<\/p>\n<p>Recall that Trump has imposed lower duties of 10 percent on goods from most other countries, along with 25 percent levies on specific items like steel, automobiles, and aluminium.<\/p>\n<p>Hopes for deals have seen Asian currencies rally against the dollar, with Taiwan\u2019s unit up around seven percent this month, while South Korea\u2019s won, the Malaysian ringgit, Indian rupee, and Thai baht have also seen healthy gains.<\/p>\n<p>The gains have reportedly led some to speculate that governments are allowing for an appreciation of their currencies as part of negotiations with Washington.<\/p>\n<p>DAILY POST reports that equities mostly rose, with Hong Kong and Shanghai leading the way as investors returned from a long weekend.<\/p>\n<p>Wellington, Taipei, Manila, and Jakarta also rose, though Sydney and Singapore edged down.<\/p>\n<p>Traders brushed off losses on Wall Street, with the Standard &amp; Poor\u2019s 500 snapping a nine-day winning streak, with film studios hit by Trump\u2019s warning of new tariffs on all films made outside the United States.<\/p>\n<p>Focus turns to the Fed\u2019s policy announcement Wednesday, with expectations it will stand pat on interest rates, even as Trump continues to push for more cuts.<\/p>\n<p>While data last week showed that the US economy contracted in the first quarter, strong jobs and services sector figures suggest there is still some resilience.<\/p>\n<p>\u201cSoft data had baked in a Fed pivot, but the ensuing hard data prints got bond desks slashing their rate-cut tickets.<\/p>\n<p>\u201cSo long as the real economy hums and fresh levies are expected to spark a second inflation wave, Powell\u2019s hawkish brace stays locked in,\u201d Managing Partner of SPI Asset Management, Stephen Innes, said in reference to Fed Chairman Jerome Powell.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The dollar rose in Asia on Tuesday, fuelled by hopes for trade deals to avert US President Donald Trump\u2019s sweeping tariffs, while equities mostly rose as investors await the Federal Reserve\u2019s latest policy decision. Similarly, oil staged a comeback after tanking on news of an output hike by key producers that came [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":161460,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1621,254,16901],"class_list":["post-161462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-dollar","tag-nigeria","tag-tariffs"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tariffs: Dollar rises as stocks gain - Nigeria<\/title>\n<meta name=\"description\" content=\"The dollar rose in Asia on Tuesday, fuelled by hopes for trade deals to avert US President Donald Trump\u2019s sweeping tarif ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tariffs: Dollar rises as stocks gain\" \/>\n<meta property=\"og:description\" content=\"The dollar rose in Asia on Tuesday, fuelled by hopes for trade deals to avert US President Donald Trump\u2019s sweeping tarif ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-06T09:52:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-06T11:02:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/05\/sm_1746516773.973176.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"660\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tariffs: Dollar rises as stocks gain\",\"datePublished\":\"2025-05-06T09:52:19+00:00\",\"dateModified\":\"2025-05-06T11:02:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain\"},\"wordCount\":450,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/05\/sm_1746516773.973176.jpg\",\"keywords\":[\"Dollar\",\"Nigeria\",\"Tariffs\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tariffs-dollar-rises-as-stocks-gain\",\"name\":\"Tariffs: Dollar rises as stocks gain - 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