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...
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...
Gold prices inched up on Wednesday as rising concerns over U.S. President Donald Trump's tariff plans and the Middle East boosted interest in the safe-haven asset, even as investors awaited the Federal Reserve's policy decision later in the day. Spot gold gained 0.2% to $3,039.38 an ounce as of 1202 GMT, after hitting an all-time peak of $3,045.24 earlier in the session. U.S. gold futures added 0.2% to $3,046.70. "Rising tensions in the Middle East are driving renewed safe-haven demand, with gold prices likely to gain further support as the April 2 deadline for U.S. universal tariffs...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, rose and recovered above 103.50 at the time of writing on Wednesday (3/19) as the US Dollar (USD) strengthened against most major currencies. The surge in the Greenback followed a sharp surge of more than 5% in the USD against the Turkish Lira (TRY) after headlines emerged that authorities had detained Istanbul Mayor Ekrem Imamoglu, a key political rival of President Tayyip Erdogan, on charges including corruption and aiding a terrorist group. On the economic data front,...
Oil prices fell on Wednesday after Russia agreed to U.S. President Donald Trump's proposal that Moscow and Kyiv halt attacks on each other's energy infrastructure, a move that analysts said could eventually pave the way for Russian oil to enter global markets. Brent crude futures fell 11 cents, or 0.16%, to $69.97 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.18%, to $66.78. Russian President Vladimir Putin on Tuesday agreed to halt attacks on Ukrainian energy facilities but stopped short of a full 30-day ceasefire that Trump had sought. "Crude...
EUR/USD fell sharply to just below 1.0900 during the European session on Wednesday (3/19) after posting a fresh five-month high near 1.0955 the previous day. The major currency pair weakened as the US Dollar (USD) performed strongly ahead of the Federal Reserve (Fed) interest rate decision at 18:00 GMT. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, jumped to near 103.70 after hitting a five-month low around 103.20 on Tuesday. According to the CME FedWatch tool, the Fed is almost certain to keep the benchmark lending rate unchanged in the...
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...