Silver edged down to $65.8 per ounce, after a 3.8% surge to a new all-time high of $66.175 in the previous session, as investors reacted to softer-than-expected US inflation data. Core CPI rose at the slowest YoY pace since early 2021, reinforcing expectations that the Federal Reserve could continue cutting interest rates next year. Markets are pricing about a 25% chance of a cut in January and are almost fully expecting one by April. Meanwhile, geopolitical risks remained in focus, as the US moved to halt sanctioned Venezuelan oil shipments following last week's tanker seizure and military...
The U.S. economy added 177,000 jobs in April 2025, a slowdown from the downwardly revised 185,000 in March, but significantly surpassing market expectations of 130,000. This figure aligns closely with the average monthly gain of 152,000 over the past 12 months, despite growing uncertainty surrounding President Donald Trump's aggressive tariff policies. Job growth was primarily seen in sectors such as health care (+51,000), transportation and warehousing (+29,000), financial activities (+14,000), and social assistance (+8,000), while federal government employment experienced a decline...
The United States (US) Bureau of Labor Statistics (BLS) is due to publish the high-impact Nonfarm Payrolls (NFP) data for April on Friday at 12:30 GMT. The April employment report will be critical to affirm a Federal Reserve (Fed) interest rate cut in June amid prospects of US trade deals with its major Asian trading partners and an unexpected US economic contraction in the first quarter of this year. The data could, therefore, have a strong bearing on the US Dollar (USD) performance in the near term. In a NewsNation Town Hall interview early Thursday, US President Donald Trump said that...
A possible de-escalation of trade tensions between Beijing and Washington provided a fillip for markets on Friday, boosting risk sentiment and lifting stocks globally just as earnings from Apple (NASDAQ:AAPL) delivered a reminder of the trade war's true cost. China's Commerce Ministry said that Beijing was "evaluating" an offer from Washington to hold talks over U.S. President Donald Trump's 145% tariffs and that Beijing's door was open for discussions. At the same time, however, China said Washington needed to show "sincerity" in negotiations and should be prepared to cancel its unilateral...
The S&P Global Indonesia Manufacturing PMI tumbled to 46.7 in April 2025 from 52.4 in March, marking the first drop in factory activity for six months and the steepest fall since August 2021. Output fell the most in near four years, and new orders shrank after four months of growth. Foreign demand also weakened, with exports shrinking for the second time in three months. Employment fell for the first time in five months as backlogs of work declined modestly, and purchasing activity was scaled back after consistent gains. On a positive note, easing pressure on capacity led to improved...
U.S. manufacturing contracted further in April while tariffs on imported goods were straining supply chains, keeping prices paid for inputs elevated. The Institute for Supply Management (ISM) said on Thursday that its manufacturing PMI dropped to a five-month low of 48.7 last month from 49.0 in March. A PMI reading below 50 indicates contraction in the manufacturing sector, which accounts for 10.2% of the economy. Economists polled by Reuters had forecast the PMI declining to 48. The survey covered Trump's "Liberation Day" tariff announcement, which ushered in sweeping duties on most...
Applications for US unemployment benefits jumped to the highest level since February during the week that followed Easter. Initial claims increased by 18,000 to 241,000 in the week ended April 26, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 223,000 applications. Continuing claims, a proxy for the number of people receiving benefits, rose to 1.92 million in the week ended April 19, the highest since 2021. That exceeds economists' forecasts. Source: Bloomberg
Ukraine and the U.S. on Wednesday signed a deal heavily promoted by U.S. President Donald Trump that will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraine's reconstruction. The two countries signed the accord in Washington after months of sometimes fraught negotiations, with uncertainty persisting until the last moment with word of an eleventh-hour snag. The accord establishes a joint investment fund for Ukraine's reconstruction as Trump tries to secure a peace settlement in Russia's three-year-old war in Ukraine. The agreement is...
U.S. President Donald Trump's administration reached out to China to initiate talks over a bitter tariff exchange between the two countries, a state-run Chinese media outlet reported on Wednesday. U.S. officials had reached out to China through various channels with the intent of negotiating on tariff issues, according to a post by Yuyuantantian, a Weibo (NASDAQ:WB) account affiliated with state broadcaster China Central Television. The report comes amid heightened speculation over U.S.-China trade talks, with Washington and Beijing offering contrasting views on negotiations. Trump claimed...
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....