Foreign investors are increasingly uneasy about U.S. monetary policy after President Donald Trump's public criticism of Federal Reserve Chair Jerome Powell, according to Yardeni Research. Though Trump recently said it was "highly unlikely" he would fire Powell, Yardeni noted the president also added, "I don't rule out anything," leaving markets jittery. "We don't believe President Trump will fire Powell," Yardeni wrote, "but, just in case, we examine the credibility crisis that could ensue if he does." Officials in Tokyo and Beijing reportedly view Powell's ouster as more of a "when" than...
Oil rose on Friday but remained on track for its biggest weekly decline since late last year as U.S. President Donald Trump's tariffs on major trading partners injected volatility and uncertainty into global markets. Brent crude futures rose near $70 a barrel on Friday, helped by a falling dollar and potential U.S. plans to replenish its strategic oil reserves, but are still down more than 3% this week. Trump signed an order Thursday to cut tariffs on Mexico and Canada covered by the trade pact through April 2, just days after the tariffs went into effect. (Newsmaker23) Source: Bloomberg
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, had its worst week in more than a year, down more than 3.5% since Monday and trading near 103.70 at the time of writing on Friday (07/3). The greenback is undergoing a regime change where the US Dollar is no longer favored by traders. The interest rate differential between the Federal Reserve (Fed) and other central banks is set to narrow after Fed Governor Christopher Waller said on Thursday that there could be two to three rate cuts this year. On the economic data front, all eyes...
Silver (XAG/USD) prices faced selling pressure near $32.70 during European trading hours on Friday (07/03). The white metal traded cautiously ahead of the United States (US) Nonfarm Payrolls (NFP) data for February, which will be published at 13:30 GMT. The US NFP data will significantly influence market expectations regarding the Federal Reserve's (Fed) monetary policy outlook. Upbeat labor market data will increase market speculation that the Fed will keep interest rates steady in the current range of 4.25%-4.50% for a longer period. Conversely, a weak figure will weaken it. Technically,...
Gold price (XAU/USD) builds on the steady intraday ascent through the first half of the European session and climbs back closer to the top end of its weekly range. The US Dollar (USD) selling bias remains unabated in the wake of rising bets that the Federal Reserve (Fed) will cut interest rates several times in 2025 amid worries about slowing US economic growth. This keeps the USD depressed near a multi-month low and turns out to be a key factor acting as a tailwind for the non-yielding yellow metal. Moreover, the uncertainty surrounding US President Donald Trump's trade policies and their...
Oil prices rose on Friday but fell for the biggest weekly drop since October as uncertainty over U.S. tariff policy raised concerns about demand growth at a time when major producers are preparing to increase output. Brent crude futures rose 50 cents, or 0.72%, to settle at $69.96 a barrel by 0746 GMT. U.S. West Texas Intermediate crude futures rose 47 cents, or 0.71%, to settle at $66.83 a barrel. But Brent fell 4.9% for the week, its biggest weekly drop since the week of Oct. 14. WTI is set to drop 4.8%, also its biggest weekly drop since that week. Markets, including oil, have been...
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...
Indonesia's sovereign wealth fund, Danantara, plans to sign a USD 8 billion engineering, procurement, and construction (EPC) contract with US engineering firm KBR Inc. to build 17 modular...