Iran has reached an agreement in principle to hold talks with the UK, France and Germany over its nuclear program, the semi-official Tasnim news agency reported. The talks are expected to take place on Friday and will be at the deputy foreign minister level, according to Iran's state-run IRIB News. The discussions will be separate from the indirect talks with the US, the outlet reported. The three European countries, or E3, are parties to the original nuclear agreement, formally called the Joint Comprehensive Plan of Action, which US President Donald Trump abandoned in...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, rallied after some strong Nonfarm Payrolls numbers while markets look ahead for Federal Reserve (Fed) Chair Jerome Powell's speech up next. China meanwhile lashed out at the US tariffs by imposing a 34% tariff on all US goods from April 10th, a day after the US tariffs will be imposed. Question will be if other countries join China in retaliation while the 'deal-making' US President Donald Trump was referring to on Thursday, does not seem to be taking place right now. On the...
Oil prices plunged by 8% on Friday, heading for their lowest close since the middle of the pandemic in 2021, as China hit back in an escalating global trade war with the U.S. after President Donald Trump's barrage of levies this week. China announced it will impose additional tariffs of 34% on all U.S. goods from April 10. Nations around the world have readied retaliation after Trump raised tariff barriers to their highest in more than a century, leading to a plunge in world financial markets. Brent futures dived $4.70, or 6.7%, to $65.44 a barrel by 1314 GMT. U.S. West Texas Intermediate...
EUR/USD corrects to near 1.1030 during European trading hours on Friday after posting a fresh six-month high at 1.1145 the previous day. The major currency pair retraces as the US Dollar (USD) rebounds after United States (US) President Donald Trump's tariffs-driven sell-off and ahead of the Nonfarm Payrolls (NFP) data for March and Federal Reserve (Fed) Chair Jerome Powell's speech due to in the North American session. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, recovers above 102.00 from its six-month low of around 101.25. Economists expect...
The dollar index trimmed early gains to trade flat around 102 on Friday, hovering near six-month lows after a sharp 1.7% drop the previous day, as traders weighed escalating trade tensions. China's finance minister announced a 34% tariff on all US imports, matching the levy imposed by President Trump on Wednesday. Rising concerns over the economic fallout, including higher prices, slower growth, and a potential recession, have fueled speculation of more aggressive Federal Reserve rate cuts. Traders now see a 50% chance of four 25bps cuts this year, up from three earlier in the week, with...
Gold price (XAU/USD) maintains its offered tone through the first half of the European session on Friday and currently trades below the $3,100 mark, down for the second successive day. The downtick lacks any obvious fundamental catalyst and could be attributed to some repositioning trade ahead of the crucial US monthly employment details, or the Nonfarm Payrolls (NFP) report. In the meantime, worries about the potential economic fallout from US President Donald Trump's sweeping reciprocal tariffs might act as a tailwind for the safe-haven Gold price. Moreover, bets that the Federal...
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.
It...
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...
Iran has reached an agreement in principle to hold talks with the UK, France and Germany over its nuclear program, the semi-official Tasnim news agency reported.
The talks are expected to take...