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 Pound Sterling (GBP) rises during the North American session against the Greenback even though US President Donald Trump enacted automotive tariffs on all cars made outside the United States (US). Initially, risk appetite deteriorated, but it has improved. Therefore, high-beta currencies like the Sterling advance, with GBP/USD trading near 1.2930, up 0.35%. GBP/USD rises as risk appetite rebounds, while UK seeks carve-out from new US trade measuresOn Wednesday, Trump announced 25% duties on imported automobiles, effective April 2. He said that he would announce additional tariffs next...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, lacks a substantial catalyst and might be flatlining going into Friday's PCE data, trading around 104.35 at the time of writing. The DXY edged higher overnight on the back of tariff comments from United States (US) President Donald Trump. An additional 25% levy on all auto imports was issued to come into effect on April 3 and countries such as Canada and the European Union were threatened with more tariffs if they look to team up in their response to the US. On the economic data...
Citi released its latest currency analysis, projecting a moderate strengthening of the Swiss Franc (CHF) against the US Dollar (USD) while anticipating a slight weakening against the Euro (EUR). The financial services company indicated that the Swiss National Bank's (SNB) monetary easing and the growing interest rate differential with the US and the eurozone are unlikely to significantly depress the CHF. Nonetheless, these measures could help to curb any substantial appreciation of the currency. Citi's currency strategists foresee the CHF trading within a core range of CHF0.85 to CHF0.90...
Gold climbed to another record high early on Thursday as the dollar weakened after U.S. President Donald Trump said he will impose 25% tariffs on auto imports into the United States. Gold for June delivery was last seen up US$37.60 to US$3,089.90 per ounce, rising above Tuesday's record close of US$3,044.00. Trump's impulsive tariffs threats are boosting safe-haven demand for gold, as global equity markets are roiled by the levies, which promise to boost inflation and slow global growth. "Ongoing uncertainty around tariffs after Trump's auto tariff announcement and the broader April...
Crude prices have climbed to one-month highs on heightening geopolitical risks and supply concerns, but Citigroup (NYSE:C) sees the likelihood of a lower trading range through most of 2025. At 08:30 ET (12:30 GMT), the benchmark Brent contract slipped 0.2% lower to $72.93 per barrel, after having risen back to levels around $74 a barrel on heightened geopolitical risks of U.S. policies that could hit Venezuela and Iran's oil exports. This reverses the oil sell-off in early March that took prices down to $69 a barrel, when the Organization of Petroleum Exporting Countries and allies, known...
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...