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,...
The USD/JPY pair attracts some buyers to around 149.75 during the Asian trading hours on Tuesday. The US Dollar (USD) gains ground as traders await more cues from US President Donald Trump's speech. Later on Wednesday, the US ISM Services Purchasing Managers Index (PMI) for February will be in the spotlight. Meanwhile, the US Dollar Index (DXY), a measure of the USD's value relative to its most significant trading partners' currencies, currently trades around 105.75, adding 0.18% on the day. However, the upside for the Greenback might be limited amid concerns over slowing economic growth...
The Australian dollar slipped below $0.625 on Wednesday, reversing a two-day rally despite stronger-than-expected economic growth data. Australia's economy grew by 0.6% in the fourth quarter, up from 0.3% in the previous quarter and surpassing market expectations of 0.5%. On the monetary policy front, RBA Deputy Governor Andrew Hauser noted that the central bank is closely monitoring the impact of the escalating global trade war on domestic inflation. He emphasized that it's too early to declare victory over inflation and called for a cautious approach to further interest rate...
The U.S. dollar drooped near a three-month low versus major peers on Wednesday while shares in Asia were mixed after the latest round of U.S. tariffs and countermeasures from Canada and China stoked fears of an escalating trade war. China's yuan was firm in offshore trading following a rally of about 0.7% in the prior session, as annual parliamentary sessions of the National People's Congress (NPC) kicked off with Beijing retaining a 5% economic growth goal for 2025. The euro pushed to a near four-month peak as German political parties agreed to a 500-billion-euro infrastructure fund....
Brent crude oil futures declined below $71 per barrel on Wednesday, remaining close to a four-month low, as concerns over OPEC+ production increases weighed on prices. The group confirmed plans to phase out 2.2 million bpd of output cuts starting in April, with monthly increases of 138,000 bpd until late 2026. Further pressuring prices, the Trump administration suspended all US military aid to Ukraine, following reports of potential sanctions relief for Russia, which could boost Russian oil exports. Additionally, new US tariffs on Canada, Mexico, and China took effect Tuesday, raising...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $67.65 during the early Asian session on Wednesday. The WTI price attracts some sellers amid geopolitical concerns, the OPEC+ production increase announcement and US tariffs on Canada, Mexico and China. On Monday, OPEC+, the Organization of the Petroleum Exporting Countries and allies including Russia, said it will proceed with a plan to increase oil production from April. This increase follows a series of output cuts made by OPEC+ to stabilize the market. "The change in OPEC strategy looks like they are...
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...