The US dollar index held firm around 97.8 on Monday, maintaining its recent gains as investors assessed the latest developments in global trade. President Trump announced a 30% tariff on imports from the EU and Mexico, set to take effect on August 1, further escalating trade tensions. In response, EU and Mexican officials signaled their willingness to continue negotiations with Washington this month in hopes of securing a lower rate. Meanwhile, the EU is reportedly intensifying talks with other countries hit by US tariffs, including Canada and Japan, as it considers possible coordinated...
Oil prices nudged higher on Monday, adding to gains of more than 2% from Friday, as investors eyed further U.S. sanctions on Russia that may affect global supplies, but a ramp-up in Saudi output and ongoing tariff uncertainty limited gains. Brent crude futures rose 15 cents to $70.51 a barrel by 0400 GMT, extending a 2.51% gain on Friday. U.S. West Texas Intermediate crude futures climbed to $68.59, up 14 cents, after settling 2.82% higher in the previous session. U.S. President Donald Trump said on Sunday that he will send Patriot air defence missiles to Ukraine. He is due to make a...
The Silver price ( XAG/USD) attracts some buyers to around $38.85, the highest since 2011 during the Asian trading hours on Monday. The white metal edges higher as US President Donald Trump's shock trade tariff on copper spurred a rush to import silver into the world's largest economy. Last week, Trump said that the 50% tariff on copper imports will take effect on August 1. The decision was made after Trump received a national security assessment. It's worth noting that Silver and copper are both used in industrial applications, especially in electronics and clean energy. If copper becomes...