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 USD/CHF pair drew bids near a three-month low of 0.8750 during European trading hours on Wednesday (3/19). The Swiss franc pair strengthened as the US dollar (USD) rallied ahead of the outcome of the Federal Reserve's (Fed) two-day monetary policy meeting at 18:00 GMT. The US Dollar Index (DXY), which measures the greenback against six major currencies, recovered near 103.70 from a five-month low of 103.20 hit the previous day. Investors expect the Fed to leave interest rates unchanged in the 4.25%-4.50% range for the second straight day as officials take time to gain clarity on US...
The US Dollar Index (DXY), a measure of the value of the US Dollar (USD) against a basket of six major currencies, attracted some buyers around 103.50 during the early European session on Wednesday (3/19). Traders are preparing for the Federal Reserve's (Fed) interest rate decision later on Wednesday, with no change in interest rates expected. Fed officials' fresh economic projections will be closely watched as they could provide some clues on how policymakers view the possible impact of US President Donald Trump's administration's policies. Technically, the bearish outlook for the DXY...
Gold (XAU/USD) prices continued its consolidative price movement near record highs through the first half of the European session (3/19) on Wednesday as investors braced ahead of the FOMC policy update. The Federal Reserve (Fed) will announce its decision later during the US session and is widely expected to keep the federal funds rate unchanged in the current range of 4.25% to 4.50%. Hence, the focus will remain on the accompanying policy statement and the latest economic projections, which include the so-called dot plot. Apart from this, Fed Chair Jerome Powell's comments at the...
Oil prices fell on Wednesday after Russia agreed to US President Donald Trump's proposal that Moscow and Kyiv temporarily stop attacking each other's energy infrastructure, which could allow more Russian oil to enter the global market. Brent crude was down 23 cents, or 0.3%, at $70.33 a barrel by 0730 GMT. U.S. West Texas Intermediate (WTI) crude was down 25 cents, or 0.4%, at $66.65. Russian President Vladimir Putin on Tuesday agreed to stop attacking Ukrainian energy facilities but stopped short of a full 30-day truce that Trump had hoped for. "The agreement marks a positive step...
The Japanese Yen (JPY) moved little after the Bank of Japan's (BoJ) decision to leave the short-term interest rate target unchanged and remains depressed in the wake of weaker-than-expected domestic data released earlier this Wednesday. Apart from this, a modest US Dollar (USD) bounce, from a multi-month low touched on Tuesday, lifts the USD/JPY pair above mid-149.00s during the Asian session. The JPY bears, however, seem reluctant to place aggressive bets and opt to wait for BoJ Governor Kazuo Ueda's comments at the post-meeting press conference. Investors will look for cues about 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...