Indonesia has agreed to eliminate tariffs on more than 99% of U.S. goods and scrap all non-tariff barriers facing American firms, while the U.S. will drop threatened tariffs on Indonesian products to 19% from 32%, the two countries said on Tuesday. Trump hailed the deal, which he first announced on July 15, in a posting on his Truth Social media platform, calling it a "huge win for our Automakers, Tech Companies, Workers, Farmers, Ranchers, and Manufacturers." Details of a framework for the accord were released in a joint statement by both countries, and a fact sheet issued by the White...
The GBP/USD pair rose near 1.3195 during the early European session on Tuesday (5/13). The pound sterling (GBP) moved higher against the greenback on positive developments surrounding the US-UK trade deal last week. The UK jobs report and US inflation will be in focus on Tuesday. US President Donald Trump said last week that he would continue to impose new 10% tariffs on imports of most UK goods but would reduce higher tariffs on British autos, steel and aluminium imports. Positive developments surrounding the US-UK trade deal lifted the cable. Further, the BOE's gradual and cautious...
EUR/USD opened with a bullish gap on Tuesday (5/13) during the Asian session, trading near the 1.1110 level after losing more than 2.5% in the previous session. The currency pair faced challenges as the US Dollar (USD) strengthened on the back of progress in the United States (US)-China trade negotiations. Over the weekend, the United States and China reached a preliminary deal in Switzerland aimed at significantly reducing tariffs, signaling a potential de-escalation in trade tensions. Under the deal, the US will lower tariffs on Chinese goods from 145% to 30%, while China will cut tariffs...
USD/JPY weakened after posting a more than 2% gain in the previous session, trading around 147.90 during Asian trading hours on Tuesday (5/13). The currency pair depreciated as the Japanese Yen (JPY) strengthened despite lingering uncertainty over the Bank of Japan (BOJ) interest rate outlook. BOJ Vice Governor Shinichi Uchida acknowledged both upside and downside risks stemming from potential US tariffs, noting that such measures could weigh on the Japanese economy. He added that Japan's economic growth is expected to slow to its potential level before gradually recovering, assuming...
Gold steadied after a sharp selloff as a major de-escalation in US-China trade tensions hurt demand for safe-haven assets. Bullion traded near $3,237 an ounce — after falling 2.7% on Monday — with investors betting on a recovery in stocks and riskier assets. The world's largest economies agreed to a temporary tariff rollback, with the US cutting duties on Chinese goods to 30% from 145% for a 90-day period, while Beijing lowered its levy on most goods to 10%. The US dollar rose the most since a post-election rally in November, while Treasury yields rose — both acting as a drag on gold....
Silver trades sideways in $32.00–$33.00 range as trade optimism offsets Dollar strengthUS-China tariff de-escalation lifts sentiment but pressures safe-haven demand for Silver.Silver price ended Monday's session with losses of over 0.40% as upbeat news from last weekend's meetings between US and Chinese delegations delivered an agreement to reduce tariffs for 90 days, marking the beginning of negotiations. The XAG/USD trades at $32.56, unchanged as Tuesday's Asian session begins.Silver price has consolidated within the $32.00-$33.00 range over the last five trading days, amid a lack of...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
US President Donald Trump announced that a 19% tariff will be imposed on goods from the Philippines, following trade talks prompted by Filipino President Ferdinand Marcos Jr.'s recent visit to the...