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 prices climbed above $36.50 per ounce on Thursday, snapping a three-day losing streak as a softer US dollar and a sharp decline in Treasury yields boosted demand for precious metals. The moves followed minutes from the Federal Reserve's latest meeting, which showed most policymakers were open to cutting interest rates later this year. Investors also navigated evolving global trade dynamics, with US President Donald Trump sending letters dictating new tariff rates on a total of 21 countries. Moreover, Trump announced a 50% levy on Brazilian goods effective August 1, citing unfair...
Gold prices rose marginally in Asian trade on Thursday and remained largely within a recently established trading range, while U.S. copper prices extended their rally after President Donald Trump confirmed his plans to tariff the red metal. Broader metal prices gained ground as the dollar fell amid mixed signals on just when the Federal Reserve will cut interest rates further. But the greenback still maintained a bulk of its recent rebound from three-year lows. Spot gold rose 0.3% to $3,323.72 an ounce, while gold futures for September rose 0.3% to $3,332.45/oz by 01:34 ET (05:34...
The USD/CHF pair rebounds a few pips from a fresh weekly low touched during the Asian session on Thursday and for now, seems to have stalled this week's slide from the vicinity of the 0.8000 psychological mark. Spot prices, however, lack bullish conviction and currently trade around the 0.7940 region, unchanged for the day amid mixed cues. Asian stocks tracked the overnight move up in the US equity markets, which, in turn, undermines demand for the safe-haven Swiss Franc (CHF). The US Dollar (USD), on the other hand, draws some support from diminishing odds for a rate cut by the Federal...
EUR/USD appreciates after registering mild losses in the previous session, trading around 1.1730 during the Asian hours on Thursday. The pair appreciates as the US Dollar (USD) loses ground following the latest Federal Open Market Committee (FOMC) Meeting Minutes and developments on US tariffs. FOMC Minutes from the June 17–18 meeting, released on Wednesday, indicated most Federal Reserve (Fed) officials considered a reduction in the fed funds rate likely to be appropriate at some point this year, noting that upward pressure on inflation from tariffs may be temporary or modest. Meanwhile,...
The GBP/USD pair gains ground around 1.3605 during the Asian trading hours on Thursday. The Greenback softens against the Pound Sterling amid the prospects for more interest rate cuts by the Federal Reserve (Fed) this year. Traders await the US weekly Initial Jobless Claims data later on Thursday. Also, the Federal Reserve (Fed) officials are scheduled to speak, including Alberto Musalem, Christopher Waller and Mary Daly. US President Donald Trump on Monday warned trading partners of sharply higher US tariffs from August 1, after he delayed all but 10% of his April levies on most countries...
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...