The EU and the U.S. are reportedly nearing a trade agreement that would impose a 15% tariff on most imports, including potentially cars and pharmaceuticals, Bloomberg News reported, citing diplomats. The proposed rate mirrors a similar deal the U.S. reached with Japan. While EU Commission officials briefed member states on the negotiations, any final decision would rest with U.S. President Donald Trump. The 15% tariff would not be added to existing U.S. duties, which average just under 5%. Certain sectors, such as the aircraft, lumber, certain medicines, and agricultural goods, may be...
Gold price remains firm on Wednesday amid speculation that the President of the United States (US), Donald Trump, could roll back some tariffs, at least duties on automobiles linked to the USMCA free trade agreement. Nevertheless, uncertainty remains, and XAU/USD trades at $2,919, virtually unchanged. Bullion prices had been seesawing around the $2,910 mark during the North American session as the news flow continued. The Federal Reserve (Fed) revealed the Beige Book in anticipation of the upcoming monetary policy, stating that overall economic activity rose, yet prices are higher amid...
Silver (XAG/USD) prices struggled to extend gains above the key resistance of $32.40 during the North American session on Wednesday (05/03). The white metal held firm as the global trade war led by the United States (US) President Donald Trump has escalated due to retaliatory tariffs on China, Canada, and Mexico. The escalating trade war tensions have raised uncertainty over the global economic outlook. Such a scenario increases the appeal of precious metals like Silver. Meanwhile, a sharp sell-off in the US Dollar (USD) is also a favorable scenario for Silver prices. The US Dollar Index...
Gold (XAU/USD) prices are trying to maintain their gains from the past few days on Wednesday (05/03) after earlier suffering losses in the Asian trading session and are trading around $2,920 at the time of writing on Wednesday. With tariffs still in place and more to come for Europe and other countries, Gold will continue to be a good place to go when it comes to safe havens. However, some surprising comments from US Commerce Secretary Howard Lutnick overnight hinted that tariffs could be eased or lifted entirely for Mexico and Canada. This has weighed on Gold prices for now. Daily Market...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, extended its decline for the third straight day this week and was trading near 105.00 at the time of writing on Wednesday (05/03), its lowest level since early November. The down move came as traders further reduced their exposure to the Dollar across the board now that some analysts are calling for an end to US exceptionalism amid concerns that US President Donald Trump's tariffs could hurt economic growth. The move comes ahead of the European Central Bank's (ECB)...
Oil prices fell for a third day on Wednesday, as investors worried about OPEC+'s plan to continue raising output in April, and U.S. President Donald Trump's tariffs on Canada, China and Mexico escalated trade tensions. Brent crude futures fell $1.02, or 1.44%, to settle at $70.02 a barrel by 1149 GMT. U.S. West Texas Intermediate (WTI) crude futures fell $1.33, or 1.95%, to settle at $66.93 a barrel. Crude prices closed near their lowest levels in months the previous day, weighed down by expectations that U.S. tariffs and retaliatory tariffs by affected countries would slow economic growth...
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...
The EU and the U.S. are reportedly nearing a trade agreement that would impose a 15% tariff on most imports, including potentially cars and pharmaceuticals, Bloomberg News reported, citing...