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 White House. The new tariff is slightly lower than the 20% rate initially announced on July 9. As part of the deal, Trump stated that U.S. exports will face no import taxes in the Philippines. The White House also revealed new details of a finalized trade agreement with Indonesia, under which a 19% tariff will apply to Indonesian goods. Additionally, a 40% tariff will be imposed on any goods...
Gold prices fell in Asian trade, dragged down by weaker safe-haven demand triggered by weekend developments. Officials from the U.S. and China concluded their trade talks over the weekend, with Beijing saying the two sides agreed to begin a formal negotiation process and Washington touting progress toward a deal. Also, India and Pakistan on Saturday agreed to a ceasefire after what President Trump described as a U.S.-brokered deal. Profit-taking could halt gold's rally, but it could also boost consumers, the World Gold Council said in a recent commentary. Spot gold was down 1.3% at...
Oil edged higher after the US and China reported "substantial progress" in two days of talks aimed at easing a trade war, signaling a possible resolution of the conflict that has threatened demand in the world's two largest crude consumers. Brent rose above $64 a barrel, after last week posting its first weekly gain in three, while West Texas Intermediate neared $61. After two days of negotiations in Geneva, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer said they were optimistic about progress and would share more information on Monday, with their Chinese...
Gold price climbed over 1% on Friday as the US Dollar (USD) retreated after posting two days of gains, weighed by lower US yields. A deterioration in risk appetite boosted Bullion prices, which are being underpinned by geopolitical concerns. At the time of writing, XAU/USD trades at $3,338. Wall Street registers losses as traders brace for the meeting between the China and US delegations in Switzerland on Saturday. Although expectations are high that the trade war sustained by both countries could de-escalate, investors remained cautious ahead of the talks. US President Donald Trump said...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, reverses sharply on Friday after hitting a near one-month high of 100.86 earlier in the day. Disappointment surrounding the so-called US-UK trade deal weighed heavily on the Greenback, with investors focusing on this weekend's critical trade negotiations between the United States and China in Switzerland. US Dollar softens ahead of key talksThe US-UK trade deal is being written off by markets as non-substantive, with US tariffs on UK goods remaining at 10%.Market focus shifts to US-China...
Oil prices rose around 1% on Friday and were set for their first weekly gains since mid-April as a U.S. trade deal with United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing. Brent crude rose by 61 cents, or 1%, to $63.45 a barrel by 12:29 p.m. ET (1629 GMT). U.S. West Texas Intermediate crude was up 57 cents, or about 1%, at $60.48. Week-over-week, both benchmarks were on track to rise about 4%. U.S. President Donald Trump said on Friday that China should open up its market to the United States and that 80% tariffs on Chinese goods...
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...