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...
Oil prices edged higher on Wednesday on supply concerns with the U.S. stepping up efforts to curb Venezuelan and Iranian oil exports, while a bigger-than-expected draw in U.S. crude inventories also provided support. Brent crude futures were up 20 cents, or 0.3%, at $73.22 a barrel by 0404 GMT, while U.S. West Texas Intermediate crude futures were up 20 cents, or 0.3%, at $69.20 a barrel. Both contracts hit three-week highs in the previous session. "Crude prices maintained a bullish bias after Trump's sanctions on Venezuelan oil, raising supply-side concerns," Priyanka Sachdeva, senior...
Silver (XAG/USD) attracted some sellers during the Asian session on Wednesday (3/26) and eroded part of the previous day's strong up-move. The white metal is currently trading around the $33.65-$33.60 area, down 0.30% for the day, although the downside appears limited amid the bullish technical setup. XAG/USD showed some resilience last week below the $33.00 level and the 100-period Simple Moving Average (SMA) on the 4-hour chart. The subsequent up-move and positive oscillators on the daily chart validate the positive outlook. Hence, any further intraday decline could be seen as a buying...
Gold prices held steady on Wednesday as market participants braced for U.S. President Donald Trump's tit-for-tat tariffs, which they fear will stoke inflation and hamper economic growth. Spot gold was up 0.1% at $3,019.72 an ounce by 0328 GMT. U.S. gold futures were down 0.1% at $3,023.60. "There are real concerns around U.S. economic growth and also inflation. The U.S. is likely to face a stagflation scenario, and that could support prices," said Soni Kumari, commodity strategist at ANZ. U.S. consumer confidence plunged to its lowest level in more than four years in March, with...
The dollar weakened on Wednesday, with weak U.S. confidence data and concerns about the impact of broad tariffs on U.S. growth dampening its recent recovery. The dollar retreated about 0.5 percent against the yen overnight, dropping below 150 yen to 149.95 early in Asia. The euro, which spent the week sliding from a five-month high, was now steady at $1.0789. The euro and the Russian ruble did not react immediately to the U.S. deal with Russia and Ukraine to halt attacks at sea and on energy targets, although wheat prices fell as the U.S. said it would push for the lifting of sanctions on...
Gold was steady in early Asian trade, supported by signs of worsening U.S. household sentiment that could maintain the precious metal's appeal as a safe haven. The Conference Board's monthly survey on Tuesday showed forward expectations for income, business and labor market conditions fell to a 12-year low. Additionally, "ongoing trade tensions could dampen economic growth, supporting gold prices," Konstantinos Chrysikos of Kudotrade said in an email. Investors may want to keep an eye on economic data and updates on U.S. trade policy, the head of Client Relationship Management added. Spot...
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...