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...
Oil prices extended gains on Thursday on the prospect of tighter supplies after Washington imposed further sanctions to curb Iran's oil trade and as some OPEC producers pledged more output cuts to offset pumping above agreed quotas. Brent crude futures rose 56 cents, or 0.85%, to $66.41 a barrel by 0625 GMT, and U.S. West Texas Intermediate crude was at $63.12 a barrel, up 65 cents, or 1.04%. Both benchmarks closed 2% higher on Wednesday at their highest since April 3 and were on track for their first weekly gain in three weeks. Thursday is the last settlement day of the week ahead of the...
Gold (XAU/USD) prices attracted some intraday sellers following an Asian session rally to a fresh all-time high as positive risk sentiment was seen denting demand for traditional safe-haven assets. Further, a modest US Dollar (USD) uptick from near multi-year lows turned out to be another factor that undermined the commodity. However, a meaningful corrective slide for the precious metal seems elusive amid ongoing uncertainty surrounding US President Donald Trump's tariff announcement, escalating US-China trade war, and fears of a global recession. Meanwhile, the market is still pricing in...
The dollar rose from a seven-month low against the yen on Thursday as U.S.-Japan trade talks avoided a foreign exchange scare, while it gained slightly against other currencies ahead of the long Easter holiday. The dollar has been battered this month as the U.S. threatened, imposed and then delayed massive tariffs, denting confidence in U.S. economic growth and stability. The Swiss franc's nearly 8% gain since April 2 is the biggest among G10 currencies and at 0.8167 per dollar, it is close to testing resistance at a decade-high of 0.81. The euro and yen are not far behind with gains of...
The USD/CHF pair attempted to recover from recent losses recorded in the previous session, trading around 0.8160 during the Asian trading hours on Thursday (4/17). However, the pair remained close to the 0.8099 mark—its lowest level since September 2011, touched on April 11. The US dollar (USD) continued to face headwinds as investor uncertainty persisted over the unpredictable nature of US trade and economic policies. In contrast, the Swiss franc (CHF) was supported by safe-haven inflows, further pressuring the USD/CHF pair. Tensions escalated after US President Donald Trump launched an...
Oil prices extended gains on Thursday on the prospect of tighter supplies after Washington imposed more sanctions to curb Iran's oil trade and as some OPEC producers pledged more output cuts to offset pumping above agreed quotas. Brent crude futures rose 55 cents, or 0.8%, to $66.40 a barrel by 0321 GMT, and U.S. West Texas Intermediate crude futures were at $63.13 a barrel, up 66 cents, or 1.1%. Both benchmarks closed 2% higher on Wednesday at their highest since April 3 and were on track for their first weekly gain in three weeks. Thursday is the last settlement day in the week ahead of...
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...