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 U.S. dollar eased on Thursday, surrendering some of the previous day's big gains after U.S. President Donald Trumpbacked down from threats to fire the head of the Federal Reserve and appeared to soften his stance on China. It caught an extra boost when Treasury Secretary Scott Bessent said the U.S. did not have a specific currency target in mind, ahead of talks with his Japanese counterpart. Bessent has also said the current de facto embargo on U.S.-China trade was unsustainable, while cautioning that the U.S. would not move first in lowering its levies of more than 100% on Chinese...
Gold price (XAU/USD) retreats around $50 from the daily swing high and trades just below the $3,320 level heading into the European session, still up for the first time in three days. US Treasury Secretary Scott Bessent tempered expectations for a quick resolution to the US-China trade standoff, which, in turn, helps revive demand for the safe-haven bullion. Apart from this, the growing acceptance that the Federal Reserve (Fed) will resume its rate-cutting cycle soon and the emergence of some US Dollar (USD) selling turns out to be other factors lending support to the non-yielding Gold...
Gold price (XAU/USD) trims a part of intraday gains, though it retains positive bias for the first time in three days and holds comfortably above the $3,300 mark through the Asian session on Thursday. Hopes for a possible US-China trade deal, along with easing fears about the Federal Reserve's (Fed) independence, remain supportive of a positive risk tone. This, in turn, is seen as a key factor acting as a headwind for the safe-haven bullion. Meanwhile, US Treasury Secretary Scott Bessent tempered expectations for a quick resolution to the US-China trade standoff. Apart from this, a modest...
The Japanese Yen (JPY) sticks to its positive bias through the Asian session on Thursday as fading hopes for a quick resolution to the US-China tradeoff underpin demand for traditional safe-haven assets. Furthermore, expectations that Japan will strike a trade deal with the US and bets for more interest rate hikes by the Bank of Japan (BoJ) turn out to be other factors that lend some support to the JPY. Apart from this, a modest US Dollar (USD) downtick keeps the USD/JPY pair depressed below the 143.00 round-figure mark. Meanwhile, signs of receding trade tensions between the US and China,...
The USD/CHF pair fails to capitalize on a two-day-old recovery from the lowest level since September 2011 and attracts some sellers during the Asian session on Thursday. Spot prices, however, lack bearish conviction and currently trade just below the 0.8300 mark, down 0.25% for the day and close to a nearly two-week high touched on Wednesday. Despite easing fears about the Federal Reserve's (Fed) independence, the US Dollar (USD) bulls remain on the sidelines amid the weakening confidence in the US economy on the back of the uncertainty about US President Donald Trump's trade policies....
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...
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...