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 British Pound (GBP) depreciated against the US Dollar (USD) after the Bank of England (BoE) decided to keep rates unchanged and warned about interest rate cuts due to "a lot of economic uncertainty at the moment," said BoE Governor Andrew Bailey. At the time of writing, GBP/USD is trading at 1.2964, down 0.29%. Sterling falls 0.29% as Bailey warns of economic uncertainty, dissent emerges within BoETraders are still digesting the BoE's decision, which wasn't unanimous, with Monetary Policy Committee (MPC) member Swati Dhingra being the dissenter, with her voting for a 25 basis points...
Gold price retreats on Thursday as bulls take a breather following the Federal Reserve's (Fed) latest monetary policy decision and an escalation of hostilities in the Middle East. The XAU/USD trades at $3,042, down over 0.19%. Market sentiment turned negative, while the Greenback stages a recovery as depicted by the US Dollar Index (DXY), which tracks a basket of six currencies against the buck. Gold traders failed to drive prices higher, even though the Fed held rates unchanged at the 4.25%–4.50% range for the second consecutive meeting. Officials added that they will slow down the pace...
The USD/JPY pair moves higher to near 149.00 in North American trading hours on Thursday. The pair gains as the US Dollar (USD) rallies sharply in the aftermath of the Federal Reserve's (Fed) monetary policy outcome. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, jumps to near 104.00 after attracting significant bids near the five-month low of 103.20. On Wednesday, the Fed kept interest rates unchanged in the range of 4.25%-4.50%, as expected, for the second time in a row. The central bank also maintained its forecast of two interest rate cuts...
Oil prices rose on Thursday after the United States issued new Iran-related sanctions and renewed tensions in the Middle East countered strength in the dollar. Brent crude futures were up $1.03, or 1.46%, to $71.83 a barrel at 12:13 p.m. EDT (1613 GMT). The U.S. West Texas Intermediate crude (WTI) contract for April, expiring on Thursday, rose $1.07 to $68.23. The more actively traded WTI May contract rose 99 cents, or 1.48%, to $67.90, having risen more than $1 during the session. The U.S. on Thursday issued new Iran-related sanctions, targeting entities including for the first time a...
The AUD/USD pair plummets to near 0.6280 during North American trading hours on Thursday. The Aussie pair faces an intense sell-off as the Australian Dollar (AUD) underperforms its peers due to weak employment data for February.The Australian Bureau of Statistics reported that the labor force unexpectedly witnessed a massive lay-off. Australian employers fired 52.8K workers, while economists expected a fresh addition of 30K. In January, the economy added 30.5K payrolls, downwardly revised from 44K. The Unemployment Rate remains steady at 4.1%, as expectedWeak employment data has resulted in...
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...