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 Australian Dollar (AUD) extends its gains against the US Dollar (USD) on Tuesday. The AUD/USD pair appreciates as investor sentiment took a hit following renewed criticism from US President Donald Trump directed at Federal Reserve (Fed) Chair Jerome Powell, raising fresh concerns about the Fed's independence. White House economic advisor Kevin Hassett said on Friday that Trump is exploring whether he has the authority to dismiss Powell. Trump also warned in a Truth Social post that the economy could slow down unless Powell acts swiftly to lower interest rates. Adding to the market...
Silver price (XAG/USD) dips slightly during Tuesday's Asian session, trading around $32.60 per troy ounce, after posting gains in the previous session. The grey metal is under pressure as the US Dollar (USD) regains strength. The US Dollar Index (DXY), which measures the Greenback against six major currencies, hovers near 98.30, supported by a rebound in the 2-year US Treasury yield, now at 3.77%. However, Silver could regain momentum as safe-haven demand persists amid ongoing economic uncertainty. The DXY recently fell to a three-year low after US President Donald Trump intensified...
Oil prices rose in Asian trading on Tuesday, recovering from a sharp 2% drop, as markets remained cautious amid global economic uncertainty driven by U.S. trade tariffs and President Trump's efforts to overhaul the Federal Reserve. As of 21:55 ET (01:55 GMT), Brent Oil Futures expiring in June rose 0.8% to $66.80 per barrel, while West Texas Intermediate (WTI) crude futures jumped 1% to $63.02 per barrel. Both contracts had settled more than 2% lower on Monday after Iran and the U.S. agreed to commence expert-level discussions to design a framework for a potential nuclear deal. Trump's...
The USD/JPY pair slumped on Monday (4/21) during North American trading, falling sharply to the 140.50 mark as the broader market reacted to growing concerns about the Federal Reserve's independence. The greenback extended its downtrend after US President Donald Trump reiterated his displeasure with Fed Chairman Jerome Powell, accusing him of making politically motivated interest rate adjustments by the end of 2024. The situation has fueled intense speculation over Powell's future and raised doubts about the Fed's autonomy. Meanwhile, the US Dollar Index (DXY) is trading in the red, testing...
The Australian dollar (AUD) regained ground on Monday (21/4), lifting to the 0.6400 area during the American session, as improving risk sentiment and a generally weaker US dollar (USD) helped AUD/USD recover from recent losses. The earlier gains were driven by optimism around China's GDP, which grew 5.4% year-on-year in Q1, beating estimates. However, the recovery remains fragile amid ongoing US-China trade tensions and the Aussie's role as a proxy for Chinese demand. ING strategists continue to stress that the Aussie remains exposed as a barometer of the US-China trade dispute, noting that...
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...