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 US Dollar (USD) holds its footing on Thursday after a weak start to the day, as investors digest fresh tariff threats from US President Donald Trump. The Greenback slipped during Asian trading hours and retraced some of this week's gains. It also came under pressure from a sharp drop in Treasury yields, driven by strong demand in Wednesday's 10-year note auction and signals in the June Federal Open Market Committee (FOMC) Meeting Minutes that interest rates could be lowered later this year. The US Dollar Index (DXY), which measures the value of the Greenback against a basket of six...
The AUD/USD climbs to near 0.6570 during the European trading session on Thursday. The Aussie pair continues to perform strongly from Tuesday when the Reserve Bank of Australia (RBA) surprisingly kept interest rates steady at 3.85%, citing officials need confidence that inflationary pressures are on the 2.5% path. "The Board judged that it could wait for a little more information to confirm that inflation remains on track to reach 2.5% on a sustainable basis," the board said in a statement, Reuters reported. The unexpected move to hold interest rates steady by the RBA led to a sharp upside...
The EUR/USD pair holds gains on Thursday, but the pair has pulled back from intra-day highs. Investors' concerns about the uncertain outlook for international trade are weighing on risk appetite, although a somewhat softer US Dollar, following the minutes of the last Federal Reserve (Fed) meeting, keeps the pair supported. The Euro (EUR) met buyers right below 1.1700 on Wednesday, paring some losses and returning to the mid-range of the 1.1700s, as the pair trades at 1.1740 at the time of writing. From a wider perspective, however, the bearish structure from the July 1 highs remains in...
The Pound Sterling (GBP) ticks up to near 1.3600 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair edges higher as the US Dollar (USD) struggles to hold over a week-long recovery move amid uncertainty surrounding trade discussions between the United States (US) and its trading partners. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, falls slightly to near 97.40. So far, the US has announced trade agreements with the United Kingdom (UK) and Vietnam, and a limited deal with China....
The USD/JPY pair trades sideways around 146.30 during the European trading session on Thursday. The pair consolidates as investors await fresh news regarding trade talks between the United States (US) and Japan. Earlier this week, US President Trump imposed 25% tariffs on imports from Japan, which will come into effect on August 1. The size of tariffs was lower than what Trump announced at the start of month, while stating that Tokyo behaves stiffly over agriculture imports from Washington and disparity over automotive trade. "We've dealt with Japan. I'm not sure if we're going to make a...
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...