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 USD/CHF pair traded on a weaker note around 0.8825 during the early European session on Thursday (3/27). Concerns over the global trade war and ongoing geopolitical tensions boosted safe-haven assets such as the Swiss Franc (CHF). Investors await the final Gross Domestic Product (GDP) for the fourth quarter (Q4), weekly Initial Jobless Claims and Pending Home Sales, due on Thursday. Uncertainty over the tariff outlook and concerns that US President Donald Trump's trade policies will slow the global economy and hurt corporate profits weakened the greenback against the CHF. Trump said on...
Oil prices edged up on Thursday on concerns about tighter global supplies following U.S. tariff threats on Venezuelan oil buyers and earlier sanctions on Iranian oil buyers, while traders weighed the impact of U.S. President Donald Trump's auto tariffs. Brent crude futures rose 7 cents, or 0.1%, to $73.86 a barrel. U.S. West Texas Intermediate crude futures rose 10 cents, or 0.1%, to $69.75 a barrel by 0406 GMT. Oil prices rose about 1% on Wednesday on government data showing U.S. crude and fuel inventories fell last week, and on U.S. tariff threats on countries that buy Venezuelan crude....
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 rose 0.4% to $3,030.47 an ounce by 0247 GMT. U.S. gold futures rose 0.5% to $3,036.00. 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. Concerns over...
Silver (XAG/USD) recovered recent losses from the previous session, trading around $33.70 per troy ounce during Asian hours on Thursday (3/27). The metal gained traction as investors sought safe-haven assets following the announcement of US auto tariffs, which have raised concerns over potential retaliatory measures next week. The risk-off sentiment increased after US President Donald Trump signed an order late Wednesday imposing a 25% tariff on auto imports, effective April 2, with billing starting the following day. However, imports of auto parts will receive a one-month reprieve. In...
GBP/USD recovered its latest losses from the previous session, rising to around 1.2910 during the Asian session on Thursday (3/27). The pair strengthened as the US Dollar (USD) remained pressured by declining Treasury yields, with the 2-year and 10-year yields hovering around 4.0% and 4.34%, respectively. Market participants are closely watching the upcoming US economic data, including the weekly Initial Jobless Claims and the final Q4 Annual GDP report, due later in the day. However, the GBP/USD pair's gains could be capped as risk-averse sentiment increases amid escalating US trade...
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...