Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
The EUR/USD pair is trading lower for the third consecutive day on Friday, with risk appetite subdued after the US President Donald Trump announced that the European Union (EU) will be included in the next batch of tariff letters and raised blanket levies for all other countries to 15% or 20% from the previous 10%. The Euro (EUR) extended its decline against a stronger US Dollar (USD) in a risk-off Asian session and trades at 1.1680 at the time of writing, having hit intra-day lows at 1.1665. The broader picture shows the pair in a corrective pullback from the long-term highs reached on...
The Australian Dollar is showing an exceptional bullish tone on Friday's European morning session. The pair has reversed previous losses and trades practically flat on the day, at a short distance to the year-to-date high, at 0.6595. The pair is on track for its third consecutive positive week, still buoyed by the Reserve Bank of Australia´s decision to maintain its benchmark interest rate at 3.85% earlier this week against a widely expected 25 bps rate. Beyond that, market speculation about a new round of economic stimulus in China, Australia's major trading partner, is providing...
Gold held a two-day advance as traders focused on tariff threats from President Donald Trump and the outlook for US monetary policy. Bullion traded above $3,330 an ounce, after posting modest gains on Wednesday and Thursday that pared a weekly drop. Rising trade tensions underscored gold's haven appeal after the president proposed a slew of tariffs this week, including moves against Canada and Brazil. In addition, he announced a substantial levy on imports of copper which will come into effect on Aug. 1 alongside other country-specific duties. Elsewhere, investors...
Silver (XAG/USD) trades with a positive bias for the second straight day and tests the top end of a multi-week-old range during the Asian session on Friday. The white metal currently trades around the $37.20 region, up 0.40% for the day. From a technical perspective, the daily Relative Strength Index (RSI, 14) remains above 50, while the Moving Average Convergence Divergence (MACD) histogram and the signal line are yet to confirm bullish bias. This makes it prudent to wait for some follow-through buying beyond the $37.30-$37.35 region, or the highest since February 2012 touched last month,...
The USD/CHF pair edges higher to near 0.7980 during Asian trading hours on Friday. The Swiss Franc pair trades broadly stable in a risk-averse market mood, followed by fears of an increase in United States (US) 10% tariff blanket. On Thursday, US President Trump said in a telephonic interview with NBC news that he will impose a "15% or 20%" tariff blanked on nations that have failed to secure a trade deal during the 90-day reciprocal tariff pause period. "We're just going to say all of the remaining countries are going to pay, whether it's 20% or 15%. We'll work that out now," Trump...
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.
It...
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...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...