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 was steady after a sluggish session on Monday, with traders monitoring the latest U.S. moves in the trade war and the prospect of easing curbs on Iranian crude. West Texas Intermediate held near $62 a barrel, with Brent settling just below $65. A degree of calm returned to Wall Street on Monday, with stocks and bonds gaining after a tumultuous week in the grip of President Donald Trump's disruptive tariff policies. Oil has fallen about $10 this month as the trade war stoked fears of a global recession that would hurt energy demand, especially in the U.S. and China — the biggest...
AUD/USD maintained its constructive outlook well and sound, advancing for the fourth day in a row and surpassing the key barrier at 0.6300 the figure with certain conviction.The Australian Dollar (AUD) extended Friday's momentum, pushing AUD/USD above the key 0.6300 level at the beginning of the week. This advance was largely driven by a modest pullback in the US Dollar (USD) amid steady US-China trade tensions. Trade war effervescenceThe latest round of tariff moves has intensified fears of a global trade war. President Trump's announcement of tariffs ranging from 10% to 50% has sparked...
The US Dollar Index (DXY) recovered slightly in Monday's North American session after dropping to its lowest point since 2022. Trading around the 99.60 area, the index attempted to stabilize as investors reacted to signs of rising stagflation risks. The rebound came despite fresh US Dollar (USD) selling pressure that had driven EUR/USD and GBP/USD toward multi-month highs earlier in the day. While the market saw some relief after expanded exemptions on US reciprocal tariffs, concerns over inflation, consumer sentiment, and global trade frictions continued to dominate the landscape....
WTI crude oil futures hovered around $61 per barrel on Monday, fluctuating as news of potential looser restrictions on Iranian crude clashed with a temporary U.S. tariff reprieve. US-Iran nuclear talks, described as "constructive," raised hopes for higher Iranian oil exports, putting downward pressure on prices. However, OPEC revised its 2025–26 demand growth forecast down by 100,000 bpd, reflecting weaker consumption due to U.S. tariffs, though it still anticipates growth of 1.3 million bpd annually. Although President Donald Trump granted exclusions from steep tariffs on tech products...
The Pound Sterling (GBP) extends its winning streak for the fifth trading day against the US Dollar (USD) at the start of the week. The GBP/USD pair jumps to near 1.3200 in Monday's North American session as investors have dumped the US Dollar on the tit-for-tat tariff announcement between the United States (US) and China. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, declines to near 99.00, the lowest level seen in three years. US President Donald Trump's announcement of a 90-day pause on reciprocal tariffs last week has significantly...
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...