Gold prices briefly strengthened after the release of US economic data, which sparked an initial market reaction. The data fueled speculation that economic pressures persisted, prompting investors to temporarily turn to gold as a safe haven. This increase was short-lived, especially in early trading after the data was released. However, entering the US session, gold prices came under pressure again. The strengthening US dollar and rising bond yields diminished gold's appeal. Furthermore, profit-taking following the initial surge also weighed on prices, causing gold to reverse its decline...
Both President Donald Trump and Chinese President Xi Jinping will speak on Friday to discuss the terms. Trump also said in a Truth Social post Monday that a deal was reached "on a ‘certain' company that young people in our Country very much wanted to save." Bessent indicated the framework could pivot the platform to U.S.-controlled ownership. TikTok did not immediately respond to a request for comment. China's lead trade negotiator, Li Chenggang, confirmed the framework deal was in place and said the U.S. should not continue to suppress Chinese companies, according to Reuters. The...
The European Union is falling further behind global rivals on growth and governments are failing to grasp the urgency to act, former European Central Bank president and Italian prime minister Mario Draghi said on Tuesday. Draghi, who delivered a far-reaching report on EU competitiveness at the European Commission's request 12 months ago, said the EU's growth model was "fading fast", vulnerabilities were mounting and there was no clear path to financing necessary investments. Draghi said the bloc had come up with ambitious plans, but it was moving ahead too slowly and governments had "not...
The U.S. and China on Monday reached a commercial agreement that would place short-video app TikTok under U.S. ownership, with final approval expected during a Friday call between President Trump and Chinese President Xi Jinping. Treasury Secretary Scott Bessent, after a meeting with Chinese negotiators in Madrid, declined to disclose details, including whether TikTok's algorithm would be included. Chinese negotiator Li Chenggang confirmed a framework deal after "candid, in-depth" exchanges, adding the U.S. showed willingness to reduce investment barriers. Trump extended the deadline for...
Israeli Prime Minister Benjamin Netanyahu said he would not rule out further attacks on Hamas leaders "wherever they are," as Arab and Muslim leaders held a summit to show support for Qatar following Israel's attack on the Gulf state last week. The September 9 attack targeting leaders of the Palestinian militant group in Doha marked a significant escalation of Israeli military action in a region rocked by conflict since the October 7, 2023, Hamas-led attack that sparked the Gaza war. As the gathered Arab and Muslim leaders expressed solidarity with Qatar, US Secretary of State Marco Rubio...
China is intentionally mischaracterising World War Two-era documents to put pressure on, and isolate, Taiwan, as those accords made no determination of the island's ultimate political status, the de facto U.S. embassy in Taipei said. The 80th anniversary of the war's end has been marked by a bitter dispute between Taipei and Beijing on its broader historical meaning and relevance today. Beijing says documents such as the Cairo Declaration and Potsdam Proclamation support its legal claims of sovereignty over the island, as they call for Taiwan to be "restored" to Chinese rule at a time when...
U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has now spoken with four of the 11 candidates on the administration's list of candidates to replace Fed chair Jerome Powell, whose term expires in May, the source said. Bloomberg first reported Bessent's meeting with Rieder, BlackRock's CIO of fixed income, and called him a rising contender for the post. The two met for two hours and discussed...
The University of Michigan consumer sentiment for the US dropped to 55.4 in September 2025, down from 58 in August and well below market expectations of 58, according to preliminary estimates. This marked the second consecutive monthly decrease, pushing sentiment to its lowest level since May. The current conditions index deteriorated to 61.2 from 61.7 and the expectations gauge fell to 51.8 from 55.9. Meanwhile, year-ahead inflation expectations held steady at 4.8% while the five-year expectations moved up for the second straight month to 3.9% from 3.5%. Source : Trading Economics
Poland rejected on Friday a suggestion by Donald Trump that Russian drone incursions into its airspace could have been a mistake, a rare contradiction of the U.S. president from one of Washington's closest European allies. Poland, backed by aircraft from other NATO, shot down drones that had violated its airspace on Wednesday, the first time a member of the Western military alliance is known to have fired during Russia's war in Ukraine. Russia said its forces had been attacking Ukraine at the time and that it had not intended to hit any targets in Poland. Trump told reporters in Washington...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....