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...
Silver (XAG/USD) attracted some sellers at the start of a new week and fell back below the $32.00 round figure during the Asian session on Monday (4/14). The white metal, for now, seems to have snapped its three-day winning streak to over one-week highs touched on Friday, although the technical setup supports prospects for some dip-buying at lower levels. Last week's breakout through the 50% Fibonacci retracement level of the recent slump from the March swing high to fresh YTD lows touched last week was seen as a key trigger for bullish traders. However, the subsequent move higher struggled...
Oil prices edged lower in Asian trade on Monday as traders digested mixed signals on U.S. tariffs and the trade conflict with China, although weaker demand forecasts and lower prices continued to weigh. Oil prices were trading near a four-year low hit last week, as concerns over weak demand and trade-related disruptions hit commodity markets. The prospect of increased economic pressure on top oil importer China also weighed on prices, as Beijing engages in a bitter trade war with the United States. Brent crude for June delivery fell 0.3% to $64.56 a barrel, while West Texas Intermediate...
Gold prices fell on Monday from a record high hit earlier in the session as trade tensions eased after U.S. President Donald Trump exempted smartphones and computers from "reciprocal" U.S. tariffs. Spot gold was down 0.1% at $3,232.45 an ounce, as of 0329 GMT. Bullion hit a record high of $3,245.42 earlier in the day. U.S. gold futures edged up 0.1% to $3,248.20. "A weaker U.S. dollar has helped gold prices, but news of the tech tariff exemptions has boosted risk appetite and caused safe-haven demand to decline. This has left gold price directionless," said KCM Trade chief market analyst...
The dollar weakened on Monday as an early rally from a three-year low ended, with markets haunted by a series of tariff-related remarks from U.S. President Donald Trump that last week shook investor confidence in the world's reserve currency. Investors were bracing for a tumultuous week as Trump's tariffs and then sudden delays on U.S. imports continued to stir confusion. The dollar reversed early gains as Asian trading began, falling against the Swiss franc toward a 10-year low hit on Friday. The dollar was last trading 0.05% lower against the Swiss franc at 0.8158. The pound pared...
The Australian dollar (AUD) continued its gains against the US dollar (USD) on Monday (14/4), supported by improving risk sentiment. The AUD/USD pair strengthened after US President Donald Trump announced less stringent tariffs on Chinese imports, including semiconductors and electronics, on Sunday night. Clarifying earlier speculation about exemptions, Trump confirmed these goods would remain subject to the existing 20% tariffs on fentanyl, instead of the previously suggested 145% tariff. Stronger commodity prices provided further support for the Australian dollar. However, persistent...
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...