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), which tracks the performance of the US Dollar (USD) against six major currencies, could see an outburst in volatility this week amid geopolitical developments and the Federal Reserve (Fed) meeting. At the time of writing on Monday, the DXY index edges lower and trades near 103.50 ahead of the United States (US) Retail Sales data for February. On the geopolitical front, a high-stakes meeting between US President Donald Trump and Russian President Vladimir Putin is scheduled on Tuesday, with the two parties to discuss territory and to divide up certain assets,...
The euro is nearing $1.09, near its November high, as traders await further updates on Germany's fiscal stimulus. A key spending plan vote is set for this week, with proposed reforms, exempting defense spending from debt limits and setting out a €500 billion infrastructure investment plan, expected to be passed in Germany's lower and upper houses. This follows a deal secured by the election-winning conservative CDU/CSU bloc with the SPD and the Greens. Meanwhile, investors are closely monitoring developments in the ongoing trade war and the situation in Ukraine. On the monetary policy...
Oil prices were trading higher on Monday after the United States vowed to keep up attacks on Yemen's Houthis until the Iran-aligned group ends its attacks on shipping. Brent crude futures rose 56 cents, or 0.8%, to $71.14 a barrel by 0800 GMT, while U.S. West Texas Intermediate crude futures rose 56 cents, also 0.8%, to $67.74 a barrel. The U.S. airstrikes, which the Houthi-led health ministry said killed at least 53 people, were the largest U.S. military operation in the Middle East since President Donald Trump took office in January. A U.S. official told Reuters the campaign could last...
Gold (XAU/USD) prices struggled to gain any meaningful traction at the start of a new week and oscillated in a narrow range just below its all-time highs above the psychological $3,000 level touched on Friday. Meanwhile, the near-term bias seems tilted towards the bulls amid concerns over escalating trade tensions and its impact on the global economy. This, along with geopolitical risks, should continue to act as a tailwind for the safe-haven bullion. Meanwhile, traders are now pricing in the possibility of the Federal Reserve (Fed) cutting interest rates multiple times this year amid a...
Gold price (XAU/USD) extends its sideways consolidative price move through the first half of the European session on Monday and remains below the all-time peak – levels beyond the $3,000 psychological mark touched on Friday. Bulls now seem reluctant to place fresh bets and opt to move to the sidelines ahead of this week's key central bank event risks – the highly-anticipated Bank of Japan (BoJ) policy decision and the outcome of a two-day FOMC meeting on Wednesday. In the meantime, worries about escalating trade tensions and their impact on the global economy, along with geopolitical...
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...