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...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $67.20 during the early Asian session on Thursday. The WTI price edges higher amid the ongoing geopolitical tensions in the Middle East. However, the Federal Reserve's (Fed) decision to hold interest rates steady might cap the upside for WTI price. The Israeli military resumed ground operations in the central and southern Gaza Strip. US President Donald Trump threatened to continue his country's attack on Yemen's Houthis and said he would hold Iran responsible for any attacks carried out by the group that has...
The Australian Dollar depreciated as Employment Change declined by 52.8K in February, missing the consensus forecast of a 30.0K increase. The PBOC kept its Loan Prime Rates (LPRs) unchanged, with the one- and five-year rates at 3.10% and 3.60%, respectively. The Fed reaffirmed its expectation of two rate cuts later this year but highlighted uncertainty arising from Trump's tariff policies. The Australian Dollar (AUD) weakens against the US Dollar (USD) on Thursday, reversing gains from the previous session. The AUD/USD pair declines as the AUD receives downward pressure following the...
Gold prices rallied sharply and hit a new all-time high of $3,052 on Wednesday as US Federal Reserve (Fed) Chair Jerome Powell spoke following the Fed's decision to hold rates unchanged. At the time of writing, the XAU/USD trades volatile within the $3,035-$3,050 range, up more than 0.20%. The Fed decided to keep rates unchanged at the 4.25%-4.50% range and tweaked its balance sheet, which is expected to run off in April. The Fed acknowledged that labor market conditions remain solid but noted that inflation remains "somewhat" elevated, reaffirming its commitment to monitoring risks to both...
The USD/CHF pair gains ground to around 0.8770 during the Asian session on Wednesday, bolstered by the renewed Greenback demand. The US Federal Reserve (Fed) interest rate decision will take center stage on Wednesday, with no change in rate expected. The attention will shift to the Swiss National Bank (SNB) policy meeting later on Thursday. Market consensus suggests that the Fed will keep its federal funds rate unchanged at the current range of 4.25% to 4.50%. Traders will focus on the Press Conference and Summary of Economic Projections (SEP), or ‘dot-plot,' for more cues about the future...
GBP/USD lurched higher on Wednesday, tapping 1.2985 in intraday trading after the Federal Reserve's (Fed) latest rate call came in broadly as expected, with the Fed keeping rates steady at 4.5%. Markets broadly anticipated another hold from the Fed but are looking for signs that the Fed will continue to deliver rate cuts if the US labor market continues to break down. According to the Fed, growth expectations for 2025 have been severely hampered by the Trump administration's policy approach of announcing then walking back trade tariffs via social media posts. The Federal Open Market...
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...