US President Donald Trump seized the opportunity to lash out at Federal Reserve Chairman Jerome Powell on Tuesday during a meeting with Philippine President Bongbong Marcos. After spending weeks normalizing the White House by publicly criticizing the Fed and attempting to undermine the US central bank's political autonomy, President Trump is working hard to justify his efforts to circumvent US laws that prevent him from having a say in who runs the Fed and what they do. Donald Trump nominated Jerome Powell to take over the Fed's top job in 2018 and has been very vocal about his displeasure...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, faced a significant shift in its trading regime this week. The index was trading near 104.00 at the time of writing on Thursday (06/03). Several banks and traders reported that large clients were repatriating their offshore US Dollar-denominated investments back into their domestic currencies. This may mean that those volumes will not return anytime soon, the FT reported. The repatriation comes after weak US economic data that has left markets worried about the potential...
Oil prices were steady on Thursday after falling for the past four sessions as U.S. tariffs on Canadian crude supplies are likely to be eased, but investors remain wary of remaining tariffs on Mexico and major producers' plans to increase output. Brent crude futures were trading up 42 cents, or 0.61%, at $69.72 a barrel by 0144 GMT, while U.S. West Texas Intermediate (WTI) crude was up 40 cents, or 0.6%, at $66.71 a barrel. Brent has plunged 6.5% in the previous four sessions, falling to its lowest since December 2021 on Wednesday, while WTI has dropped 5.8% over the same period to its...
Gold edged lower as investors study the latest developments around tariffs and their impact on the US economy and Federal Reserve decisions. The precious metal was trading near $2,915 an ounce, about $40 short of the all-time high reached last week. Silver has also seen strong haven demand, and this week has gained nearly 5%. There was more movement on the tariff front on Wednesday, with President Donald Trump delaying newly imposed automaker levies on Mexico and Canada by a month. The move saw yields on Treasuries shift toward the lowest level of the year amid mounting investor conviction...
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, was trading around 104.00 during European hours on Thursday (06/03). The DXY extended its decline for the fourth straight day amid improving risk sentiment, boosted by another shift in US President Donald Trump's tariff strategy. On Wednesday, the White House announced a temporary one-month exemption for automakers in Mexico and Canada from newly imposed 25% import tariffs. Additionally, Trump is considering exempting certain agricultural products from tariffs in both countries, according...
Oil prices rose on Thursday after heavy sell-offs drove the market to a multi-year low, however tariff uncertainties and a rising supply outlook capped gains. Brent futures were trading up 50 cents, or 0.72%, at $69.80 a barrel by 0716 GMT, while U.S. West Texas Intermediate crude (WTI) futures climbed 48 cents, or 0.72%, to $66.79 a barrel. Brent plunged 6.5% in the previous four sessions, dropping to its lowest since December 2021 on Wednesday, while WTI fell 5.8% over the same period to its lowest since May 2023. "The sharp dip in oil prices below the key $70.00 level may prompt a...
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...
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...