European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
Gold price (XAU/USD) halts its two-day winning streak on Wednesday as rising US Treasury yields pressured non-yielding assets. However, the precious metal could receive upward support from safe-haven demand amid the implementation of US tariffs. Trump's 25% levies on Mexican and Canadian imports took effect on Tuesday, alongside a hike in Chinese duties to 20%, escalating trade tensions and prompting retaliation. However, US Commerce Secretary Howard Lutnick suggested in a Fox News interview that Trump may reconsider his tariff policy less than 48 hours after its implementation. He noted...
Silver price (XAG/USD) extends its upside to around $32.15 during the early European session on Tuesday. The white metal edges higher amid uncertainty and trade war worries, which boost the safe-haven demand. Technically, the bullish trend of Silver remains in play as the commodity is well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the 14-day Relative Strength Index (RSI), which stands above the midline near 55.00, displaying bullish momentum in the near term. The first upside target for white metal emerges at...
Oil prices fell for a third session on Wednesday as plans by major producers to raise output in April combined with concerns that U.S. tariffs on Canada, Mexico and China will slow economic growth and hit fuel demand. Brent futures fell 24 cents, or 0.3%, to $70.80 a barrel at 0500 GMT. U.S. West Texas Intermediate (WTI) crude slipped 58 cents, or 0.9%, to $67.68 a barrel. In the previous session, the contracts settled at close to multi-month lows. "Unfavourable supply-demand dynamics have created a double whammy, with tariff uncertainties posing downside risks to global growth, and in...
The GBP/USD pair trades with mild gains to near 1.2790 during the early European trading hours on Wednesday. The US Dollar (USD) hovered near a three-month low amid concerns over slowing US economic growth and the impact of tariffs. "Fears about weaker U.S. and global economic activity are manifesting in the markets, with cyclicals driving the sell-off," said Kyle Rodda, senior financial markets analyst at capital.com. Additionally, Trump's 25% levies on Mexican and Canadian imports took effect on Tuesday, alongside a hike in Chinese duties to 20% Investors will take more cues from the US...
Gold eased below $2,910 per ounce on Wednesday, pausing recent gains as rising US Treasury yields pressured prices. Still, the metal remained relatively near its record highs, supported by safe-haven demand amid implementation of US tariffs. Trump's 25% levies on Mexican and Canadian imports took effect Tuesday, alongside a hike in Chinese duties to 20%, escalating trade tensions and prompting retaliation. However, US Commerce Secretary Howard Lutnick suggested possible tariff relief for Canada and Mexico. Further boosting gold's safety appeal, the US paused military aid to Ukraine amid...
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...
President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...