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...
Gold prices edged higher in Asian trading on Thursday as the U.S. dollar fell to a four-month low amid signs that President Donald Trump may be open to negotiating his recently imposed steep trade tariffs. Spot Gold inched 0.1% higher to $2,921.42 per ounce, while Gold Futures expiring in April gained 0.1% to $2,929.49 an ounce by 01:15 ET (06:15 GMT). Dollar falters on Trump auto tariff delay; US payrolls data awaited Gold prices advanced as the US Dollar Index weakened 0.2% to a four-month low following President Donald Trump's decision to delay imposing auto tariffs on Canada and...
The USD/CHF pair builds on the previous day's modest bounce from the vicinity of mid-0.8800s, or the lowest since December 12, and gains some follow-through positive traction for the second straight day on Thursday. Spot prices climb back above the 0.8900 mark during the Asian session, though any meaningful appreciating move seems elusive amid the bearish sentiment surrounding the US Dollar (USD). The USD Index (DXY), which tracks the Greenback against a basket of currencies, dives to a four-month low amid bets that the Federal Reserve (Fed) would cut interest rates multiple times this...
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 39 cents, or 0.56%, at $69.69 a barrel by 0416 GMT, while U.S. West Texas Intermediate crude (WTI) futures climbed 39 cents, or 0.59%, to $66.70 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...
Silver (XAG/USD) attracts some sellers during the Asian session on Thursday and erodes a part of its weekly gains registered over the past three days. The white metal currently trades above mid-$32.00s, down 0.35% for the day, though the near-term bias seems tilted in favor of bullish traders and supports prospects for a further appreciating move. From a technical perspective, the XAG/USD showed some resilience below the 100-day Exponential Moving Average (EMA) last Friday. Moreover, oscillators on the daily chart have again started gaining positive traction on the daily chart and validate...
Gold price (XAU/USD) trades with a positive bias during the Asian session on Thursday and remains close to a one-week high touched on the previous day, though it lacks follow-through buying. Investors remain concerned about US President Donald Trump's tariff measures, which continue to act as a tailwind for the safe-haven bullion. Furthermore, the possibility of an earlier-than-expected interest rate cut by the Federal Reserve (Fed) and the bearish sentiment surrounding the US Dollar (USD) turn out to be other factors lending support to the non-yielding yellow metal. However, a generally...
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...