The US has signaled it will not relax its August 1 deadline for higher tariffs against the European Union as the bloc struggles to reach a deal on time. Over the weekend, US Commerce Secretary Howard Lutnick said he was confident a trade deal with the EU could be reached, but cautioned that the deadline for the 30% base tariffs was fixed. "That's a tight deadline, so on August 1, the new tariffs will go into effect," Lutnick said Sunday on CBS News when asked about his EU tariff deadline. He did hint that negotiations could continue beyond that date, stating: "These are the two largest...
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on the previous day's modest gains and attracts fresh sellers during the Asian session on Tuesday. The index currently trades around the 103.70 area, down over 0.20% for the day, and remains close to its lowest level since early November touched last Friday. Investors remain worried about US President Donald Trump's trade tariffs and their potential impact on the US economy. Apart from this, Friday's weaker US Nonfarm Payrolls (NFP) report pointed to signs of a cooling labor...
Gold rose near $2,900 per ounce on Tuesday, driven by a weaker U.S. dollar and safe-haven flows due to mounting concerns about the U.S. economic outlook amid escalating trade tensions. Concerns about the potential economic slowdown were exacerbated after President Donald Trump, in a Fox News interview on Sunday, said the U.S. economy faced a "period of transition", while refusing to rule out the possibility that his policies would cause a recession. This comes after the U.S. delayed the 25% tariffs on many goods from Canada and Mexico for a month, while Canada has kept its initial...
Brent crude oil futures fell to around $69.2 per barrel on Tuesday, marking a second consecutive day of losses amid growing fears that U.S. tariffs would slow economic growth and curb oil demand. Tariffs imposed and then later delayed by U.S. President Donald Trump on major oil suppliers, such as Canada and Mexico, along with China's retaliatory tariffs, have heightened concerns over a potential global economic slowdown. Additionally, signs of economic weakness in top oil importer China weighed on crude prices after latest data showed the country's deflationary pressures deepened despite...
The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) for the fourth consecutive session on Tuesday. Despite a stronger Westpac Consumer Confidence reading—rising 4% to 95.9 in March from 92.2 in February, marking its highest level in three years—the AUD/USD pair continues to struggle. The uptick in sentiment was driven by the Reserve Bank of Australia's (RBA) interest rate cut in February and easing cost-of-living pressures. Australia's 10-year government bond yield declined to around 4.39% as escalating global trade tensions dampened investor risk appetite....
Oil fell a second day, tracking a plunge across wider equity markets and other risk assets. West Texas Intermediate dropped below $66 a barrel after sliding 1.5% on Monday, with Brent crude closing near $69. Investors retreated from every type of risk on Monday with economic fear racing across markets as US President Donald Trump presses on with tariff measures and geopolitical shakeups. Oil has fallen almost a fifth from a high in mid-January as Trump's chaotic rollout of tariff hikes and push to slash federal spending darken the economic outlook in the biggest producer and consumer of...
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...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged increased air defense protection to help shield the...