The US has signaled it will not relax its August 1 deadline for higher tariffs against the European Union as the bloc struggles to reach a deal on time. Over the weekend, US Commerce Secretary Howard Lutnick said he was confident a trade deal with the EU could be reached, but cautioned that the deadline for the 30% base tariffs was fixed. "That's a tight deadline, so on August 1, the new tariffs will go into effect," Lutnick said Sunday on CBS News when asked about his EU tariff deadline. He did hint that negotiations could continue beyond that date, stating: "These are the two largest...
The dollar recouped some of its losses on Tuesday, supported by reports that the U.S. administration may ease planned tariffs, although investor caution lingered over whether a meaningful de-escalation in the U.S.-China trade conflict was in motion. The administration of U.S. President Donald Trump is set to take steps on Tuesday to soften the impact of his automotive tariffs. The United States and China in recent days seemed to have softened their respective stances, with Washington signalling openness to reducing tariffs and Beijing exempting some U.S. imports from its 125%...
Gold prices dropped on Tuesday as softening trade tensions between the U.S. and its trading partners dulled the metal's safe-haven appeal, while investors awaited U.S. economic data to assess the Federal Reserve's policy path. Spot gold was down 0.8% at $3,314.65 an ounce, as of 0619 GMT. U.S. gold futures lost 0.7% to $3,324.20. "The risk environment has clearly improved recently, with market participants buoyed by optimism that the worst of the trade tensions may be behind us amid encouraging rhetoric around trade deals," said IG market strategist Yeap Jun Rong. U.S. Treasury Secretary...
Crude oil prices fell on Tuesday as investors lowered their demand growth expectations due to the ongoing trade war between the United States and China, the world's two biggest economies. Brent crude futures fell by 51 cents, or 0.8%, to $65.35 per barrel by 0635 GMT. U.S. West Texas Intermediate crude futures fell 50 cents, or 0.8%, to $61.55 a barrel. Both benchmarks fell more than $1 on Monday. "Markets are closely monitoring the U.S.-China trade negotiations, understanding that deteriorating trade relations between the world's two largest economies could lead the global economy towards...
Gold price (XAU/USD) extends its steady intraday descent through the Asian session on Tuesday and drops back closer to the $3,300 mark as hopes for the potential de-escalation of US-China trade tensions undermine demand for safe-haven assets. Apart from this, the emergence of some US Dollar (USD) buying further contributes to driving flows away from the commodity. That said, a combination of factors assists the precious metal to hold comfortably above the $3,265-3,260 pivotal support. Investors remain on the edge amid the uncertainty over US President Donald Trump's trade policies and...
The EUR/USD pair attracts some sellers to near 1.1375 during the Asian session on Tuesday. The Euro weakens against the Greenback amid rising expectations of further rate cuts from the European Central Bank in June and mixed signals on US-China trade relations.The EUR/USD pair hovers around 1.1350 on Monday, extending its consolidative phase for a second consecutive day. At least, investors pared US Dollar (USD) selling and recovered some optimism amid hopes of easing trade war tensions. Additionally, the latest comments from United States (US) Federal Reserve (Fed) officials were tilted to...
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...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged increased air defense protection to help shield the...