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) initially gained traction near 104.00 after the Federal Reserve decided to keep its benchmark interest rate at 4.5%, maintaining a cautious stance amid evolving inflation and economic conditions. The latest FOMC dot plot revealed that policymakers expect a median rate of 3.875% for the current period, down from the prior 4.375%, reinforcing expectations of future rate cuts. Looking ahead, the Fed revised its 2025 rate forecast lower to 3.375%, a signal of potential policy easing in response to slower economic growth and elevated inflation projections. GDP...
EUR/USD climbs post-Fed, as policymakers keep rates unchanged but hint at a slower balance sheet runoff starting in April.Inflation remains "somewhat" elevated, with the Fed revising PCE and Core PCE higher, while GDP and unemployment estimates were lowered. Fed Governor Waller dissents, favoring an unchanged pace of balance sheet reduction, as markets digest mixed policy signals.The EUR/USD spkied on Wednesday after the US Federal Reserve decided to keep interest rates unchanged despite adopting a slightly hawkish approach to the future path of interest rates. At the time of writing, the...
USD/JPY hovers near 149.37, little changed after the Fed keeps rates unchanged but slows balance sheet reduction.Inflation remains "somewhat" elevated, with the Fed revising PCE and Core PCE higher, while GDP and unemployment estimates were lowered.Fed Governor Waller dissents, favoring an unchanged pace of balance sheet reduction as markets digest mixed policy signals.The USD/JPY pair climbs on Wednesday after the Federal Open Market Committee's (FOMC) decision to keep rates unchanged. Even though officials turned cautious on rates, the US Dollar (USD) failed to rally sharply. The pair...
The AUD/USD pair initially fell below 0.6330 following the Federal Reserve's (Fed) monetary policy decision but later trimmed part of its losses as the US Dollar (USD) lost ground post-Powell's press conference. The Fed left interest rates unchanged at 4.5%, reinforcing a cautious approach amid inflation and economic uncertainties. The latest FOMC dot plot signaled a gradual policy easing ahead, with the median rate forecast for 2025 revised down to 3.375% from 3.875%. GDP expectations were also adjusted lower to 1.7% from 2.1%, while unemployment projections rose to 4.4%, indicating...
Oil prices edged up on Wednesday after U.S. government data showed a draw in fuel inventories, but the Federal Reserve's decision to hold interest rates steady capped gains. Brent crude futures settled up 22 cents, or 0.31%, to $70.78 a barrel. U.S. West Texas Intermediate crude (WTI) closed 26 cents, or 0.39%, higher at $67.16. U.S. crude stocks rose by 1.7 million barrels last week to 437 million barrels, U.S. government data showed, exceeding the 512,000-barrel rise analysts had expected. However, distillate inventories, which include diesel and heating oil, fell by 2.8 million barrels...
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.
It...
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...