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...
The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, before the release of personal income, spending and price data for February at 8:30 am ET. The final University of Michigan consumer sentiment reading for March is due to be released at 10:00 am ET at the same time as state unemployment data for February. The Kansas City Federal Reserve's services reading for March follows at 11:00 am ET and updates to the Atlanta and St. Louis Fed's gross domestic product growth Nowcast estimates are due around midday. Fed Governor Michael Barr is...
Oil prices retreated on Friday amid tariff-related demand concerns, but headed for a third weekly gain on a tightening global supply outlook after the U.S. placed more pressure on Venezuelan and Iranian oil trade. Brent crude futures lost 31 cents, or 0.4%, at $73.72 a barrel at 0742 GMT, falling for the first time after daily gains of seven consecutive sessions. U.S. West Texas Intermediate crude futures were down 33 cents, or 0.5%, to $69.59 a barrel. The downward corrections mirrored broader risk assets sell-offs on Friday, as the latest tariff salvo from U.S. President Donald Trump...
Gold price (XAU/USD) retains its bullish bias through the first half of the European session on Friday and touches a fresh all-time peak, around the $3,086 region in the last hour. The global risk sentiment continues to be undermined by worries over US President Donald Trump's auto tariffs announced on Wednesday, the uncertainty about impending reciprocal tariffs next week, and their effect on the global economy. The anti-risk flow is evident from a generally weaker tone around the equity markets, which, in turn, is seen driving safe-haven flows toward the precious metal. Furthermore,...
The USD/CHF pair traded in the positive territory near 0.8825 during the early European session on Friday (3/28). The greenback moved higher as traders assessed how severe the tariffs scheduled to be announced by US President Donald Trump next week are likely to impact the global economy. The US Personal Consumption Expenditures (PCE) data for February will be in focus on Friday. Growing optimism that Trump will be flexible on tariffs could boost risk sentiment and the US Dollar (USD). Trump said on Monday that auto tariffs would be implemented soon, but not all threatened duties will be...
Oil prices eased slightly but held near one-month highs on Friday as they headed for a third weekly gain as the outlook for global supplies tightened after the U.S. imposed tariffs on countries buying Venezuelan oil and restricted trade in Iranian oil. Brent crude futures fell 14 cents, or 0.2%, to $73.89 a barrel. U.S. West Texas Intermediate crude futures fell 12 cents, or 0.2%, to $69.80 a barrel by 0431 GMT. The moves were small compared with gains of more than 2% for both contracts so far this week. Oil prices have risen more than 7% since hitting multi-month lows in early March. The...
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...