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...
Gold prices fell on Thursday as investors took profits after bullion hit a record high earlier in the session as curbs on chip sales to China and ongoing tariff uncertainty boosted demand for safe-haven assets. Spot gold fell 0.1% to $3,339.37 an ounce by 0312 GMT, after hitting a record high of $3,357.40 earlier in the session. Bullion has gained more than 3% this week. U.S. gold futures rose 0.2% to $3,351.50. "Everything is going in gold's favor, pushing prices to new record highs. Although the decline is justified, the precious metal is poised for further gains as the trade turmoil...
GBP/USD ended its seven-day winning streak, weakening to around 1.3230 during the Asian session on Thursday (4/17) after falling from a six-month high of 1.3292 reached on Wednesday. Traders now await the release of key US data later in the day, including Building Permits, Housing Starts, Philly Fed Manufacturing Index, and weekly Initial Jobless Claims. The US Dollar Index (DXY) is trading higher near 99.60 at the time of writing, supported by stronger-than-expected consumer spending in March. US Retail Sales rose 1.4% in March, beating February's 0.2% increase and the 1.3% forecast. The...
The Japanese Yen (JPY) eased after hitting a fresh multi-month high against its US counterpart during the Asian session on Thursday (4/17), although a meaningful decline seems elusive. A slight improvement in the global risk sentiment – as depicted by a generally positive tone around equity markets – was seen undermining the safe-haven JPY. This, along with a modest uptick in the US Dollar (USD) from near multi-year lows contributed to the USD/JPY pair's intraday recovery of over 100 pips from the 141.60 region. However, uncertainty surrounding US President Donald Trump's tariff...
The Australian Dollar (AUD) traded lower against the US Dollar (USD), ending a six-day winning streak. The AUD/USD pair remained pressured after the release of Australian jobs data on Thursday (4/17), which showed the Unemployment Rate rose to 4.1% in March, slightly below market estimates of 4.2%. Meanwhile, the Employment Change came in at 32.2K, compared to consensus estimates of 40K. The AUD gained support from improved global risk sentiment after US President Donald Trump announced exemptions for key technology products from newly proposed "reciprocal" tariffs. The exemptions, which...
Silver (XAG/USD) traded around $32.30 per troy ounce during the Asian session on Thursday (4/17), paring some of its gains from the previous day. The precious metal came under pressure as global risk sentiment improved following US President Donald Trump's announcement of exemptions for key technology products from newly proposed "reciprocal" tariffs. The exemptions, which cover smartphones, computers, semiconductors, solar cells, and flat-panel displays, primarily benefit goods manufactured in China. However, Silver's downside remained limited as Trump simultaneously launched an...
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...