US President Donald Trump seized the opportunity to lash out at Federal Reserve Chairman Jerome Powell on Tuesday during a meeting with Philippine President Bongbong Marcos. After spending weeks normalizing the White House by publicly criticizing the Fed and attempting to undermine the US central bank's political autonomy, President Trump is working hard to justify his efforts to circumvent US laws that prevent him from having a say in who runs the Fed and what they do. Donald Trump nominated Jerome Powell to take over the Fed's top job in 2018 and has been very vocal about his displeasure...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, trades near 100.00 on Thursday, lifted modestly by upbeat US data and expectations of extended yield differentials. Markets initially cheered news of a US-UK trade deal, though enthusiasm faded as details confirmed tariffs would remain in place.Daily digest market movers: US Dollar holds ground after muted UK dealUS President Donald Trump announced a "major" trade deal with the United Kingdom, though key tariffs will remain at 10%, limiting market enthusiasm.Investors remain skeptical about...
Gold price tumbled for the second consecutive day as traders erased Bullion's advance on Tuesday, which pushed its gains past the $3,400 figure. The announcement of a US-UK trade deal boosted the US Dollar (USD) to the detriment of XAU/USD, which trades at $ 3,311, down over 1.60%. An upbeat sentiment is taking its toll on Gold prices, which have declined by almost 4% over the last two days. The announcement of a trade deal between the US and the UK, made by President Donald Trump and UK Prime Minister Keir Starmer, has improved the market mood, as traders seem confident that the US could...
Oil prices rose around 3% on Thursday, buoyed by hopes of a breakthrough in looming trade talks between the United States and China, the world's two largest oil consumers. Brent crude futures were up $1.70, or 2.8%, at $62.82 a barrel at 1:12 p.m. EDT (1712 GMT). U.S. West Texas Intermediate crude rose $1.79, or 3.1%, to $59.86. U.S. Treasury Secretary Scott Bessent will meet with China's top economic official on May 10 in Switzerland for negotiations over a trade war that is disrupting the global economy. Optimism around those talks was providing support to the market, said SEB analyst...
The USD/CHF pair is trading higher as the US Dollar (USD) gains momentum on mixed economic signals and trade optimism, while the Swiss Franc (CHF) weakens amid broader risk-on sentiment. US President Donald Trump announced a "major trade deal" with the United Kingdom (UK), though initial excitement cooled after reports indicated that a 10% tariff on UK goods would remain in place, limiting the potential economic boost from the agreement. The US Dollar Index (DXY) remains firm, trading near 100.00 as investors digest positive economic data and trade headlines. US initial jobless claims fell...
Oil prices rose over 1% on Thursday, buoyed by hopes of a breakthrough in looming trade talks between the United States and China, the world's two largest oil consumers. Brent crude futures were up 89 cents, or 1.5%, at $62.01 a barrel at 1334 GMT. U.S. West Texas Intermediate crude rose $1.02, or 1.8%, to $59.09. The market has almost stabilised at slightly above $61 a barrel, said SEB analyst Ole Hvalbye, which along with some optimism around the tariff situation with ice-breaker talks due between the U.S. and China, was providing support. U.S. Treasury Secretary Scott Bessent will meet...
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...
Indonesia's sovereign wealth fund, Danantara, plans to sign a USD 8 billion engineering, procurement, and construction (EPC) contract with US engineering firm KBR Inc. to build 17 modular...