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 slightly in Asian trade on Tuesday, but remained near recent peaks as safe-haven demand remained buoyed by uncertainty over U.S. plans for trade tariffs. Gold prices have fallen in recent sessions as exemptions for electronics imports from high U.S. tariffs on China helped boost some risk sentiment. President Donald Trump on Monday also flagged the possibility of more exemptions. But Trump's 145% tariffs on China, coupled with Beijing's 125% tariffs, have largely remained in place, signaling a bitter trade war between the world's largest economies. The idea has kept gold...
Silver (XAG/USD) price continues to show strength for the fifth straight session, trading around $32.30 per troy ounce during the Asian session on Tuesday (4/15). The daily chart technical analysis shows a developing bullish trend, with the grey metal moving up within an ascending channel pattern. Silver price remains above the nine-day and 50-day Exponential Moving Averages (EMA), indicating strong near-term momentum. Furthermore, the 14-day Relative Strength Index (RSI) is at the 50 level, reinforcing the active bullish bias. On the upside, the XAG/USD pair may target the upper boundary...
The GBP/USD pair attracted buyers for the sixth straight day and climbed above the 1.3200 mark, hitting a fresh high since October 2024 during the Asian session on Tuesday (4/15). Moreover, the bearish sentiment surrounding the US Dollar (USD) suggests that the path of least resistance for spot prices remains upwards. Investors remain concerned about the potential economic impact of the escalating US-China trade war. In fact, China increased its tariffs on US imports to 125% on Friday in retaliation for US President Donald Trump's decision to raise duties on Chinese goods to an...
EUR/USD continued to decline for the second straight session, trading near 1.1350 during Asian hours on Tuesday (4/15). The pair weakened as the US dollar (USD) tried to regain stability amid growing concerns over stagflation. Early on Tuesday, Atlanta Fed President Raphael Bostic commented that the Federal Reserve still has a long way to go to bring inflation down to its 2% target. His remarks dampened market expectations for further rate cuts in the near term. In a shift from its previous outlook, Deutsche Bank now anticipates a 25 basis point rate cut in December—the first cut forecast...
Oil prices edged up in Asian trade on Tuesday, helped by the prospect of a temporary halt to President Donald Trump's auto tariffs and a pick-up in Chinese crude imports, as markets eyed U.S.-Iran nuclear talks for clues on the demand outlook. At 10:05 p.m. ET (02:05 GMT), Brent crude futures expiring in June were up 0.2% at $65.02 a barrel, while West Texas Intermediate crude futures rose 0.3% to $61.25 a barrel. Both contracts closed little changed on Monday and remained near four-year lows hit last week. "The market is digesting fast-moving policy developments on the tariff front,...
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...