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 Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is currently flat to marginally lower after paring back earlier gains at 104.40 at the time of writing on Thursday. 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 front, all...
Silver prices rose above $33.70 per ounce on Thursday, extending weekly gains to over 2% as escalating global trade tensions fueled demand for safe-haven assets. On Wednesday, President Donald Trump announced a 25% tariff on all imported cars and light trucks, set to take effect on April 2, alongside reciprocal tariffs on countries imposing levies on US goods—measures he vowed to maintain throughout his second term. The tariffs raised fears of retaliation, adding pressure on US economic growth while potentially reigniting inflation. Meanwhile, expectations of further Federal Reserve rate...
Oil prices edged lower on Thursday as markets weighed the impact of U.S. President Donald Trump's auto tariffs at a time when concerns swirled about global supply due to U.S. tariff threats on buyers of Venezuelan oil and sanctions on Iran's oil clients. Brent crude futures fell 22 cents, or 0.3%, to $73.57 a barrel by 0733 GMT. U.S. West Texas Intermediate crude futures slipped 23 cents, or 0.3%, to $69.42. Both benchmarks were initially up in early Asian trade. On Wednesday, oil prices rose by around 1% on government data showing U.S. crude oil and fuel inventories fell last week, and on...
Gold prices rose on Thursday as U.S. auto tariffs escalated global trade tensions ahead of an April 2 deadline for reciprocal tariffs from the world's largest economies. Spot gold was up 0.5% at $3,033.20 an ounce, as of 0535 GMT. U.S. gold futures were up 0.6% at $3,039.00. U.S. President Donald Trump on Wednesday announced a 25% tariff on imported cars and light trucks starting next week, widening a global trade war. Investors are concerned that Trump's retaliatory tariffs, expected to take effect on April 2, could stoke inflation, slow economic growth and escalate trade tensions....
The Japanese Yen (JPY) maintained its positive bias through the Asian session on Thursday (3/27), which, along with a broadly weaker US Dollar (USD), kept the USD/JPY pair pressured above the psychological 150.00 level. Concerns about the potential economic impact of US President Donald Trump's trade tariffs dampened investors' appetite for riskier assets. Additionally, hawkish sentiment surrounding the Bank of Japan's (BOJ) policy outlook, supported by strong wage growth for the third straight year, turned out to be a key factor supporting the JPY. Meanwhile, the Federal Reserve's (Fed)...
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...