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) oscillates in a narrow trading band following the previous day's good two-way price moves, though it holds above the $34.00 mark through the Asian session on Tuesday. Moreover, the white metal remains close to a multi-month high, around the $34.60 area touched last Friday. Looking at the broader picture, the recent strong positive move witnessed since the beginning of 2025 has been along an upward-sloping channel. This points to a well-established short-term uptrend. Furthermore, oscillators on the daily chart are holding comfortably in positive territory and are still away...
Gold hit a record at the start of the new quarter as a major escalation in US President Donald Trump's trade tariffs due this week heightened concerns about the global economy and fanned haven demand. Bullion neared $3,150 an ounce, on pace for a fourth day of gains. Traders are on edge as Trump plans to announce sweeping levies on all of America's trading partners on Wednesday, raising the risks of retaliatory measures. The precious metal has been one of the strongest performing commodities this year, posting its best quarter since 1986 in the opening three...
Australia's dollar held an intraday gain after the Reserve Bank of Australia left rates unchanged but reiterated that returning inflation to target was its highest priority. AUD/USD gained 0.4% to 0.6269, at session highs; it moved upward after Governor Bullock said that the board did not explicitly discuss a rate cut, while swaps traders held May rate-cut bets to about 80% The Bloomberg Dollar Spot Index eased 0.1% and Treasury yields fell across the curve ahead of President Donald Trump's announcement of his reciprocal tariff plan on April 2 in the White House Rose Garden,...
The Japanese Yen (JPY) edges higher against its American counterpart during the Asian session on Tuesday and for now, seems to have stalled the previous day's retracement slide from over a one-week high. The Bank of Japan's (BoJ) Tankan survey showed that Japanese enterprises raised their inflation forecasts for one year, three years, and five years ahead. This, in turn, backs the case for more rate increases from the BoJ and turns out to be a key factor supporting the JPY. Moreover, a modest US Dollar (USD) downtick keeps the USD/JPY pair depressed below the 150.00 psychological mark. The...
Oil steadied after jumping on Monday as President Donald Trump suggested that the US may work to curtail crude shipments from Russia, the world's third-largest producer and a major exporter. West Texas Intermediate traded above $71 a barrel after gaining 3.1% on Monday, the most since mid-January, with Brent crude closing below $75. Trump threatened so-called "secondary tariffs" on buyers of Russian oil, potentially hurting flows, as he pushes for an end to the war in Ukraine. The US is also set to implement levies and other measures on Wednesday, in what Trump has dubbed...
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...
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...