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 prices were largely unchanged in Asian trading on Tuesday, supported by safe-haven demand as U.S. President Donald Trump's tariffs on Mexico and Canada came into effect. Spot Gold was steady at $2,892.98 per ounce, while Gold Futures expiring in April gained 0.1% to $2,903.87 an ounce by 00:23 ET (05:23 GMT). Gold steady as Trump tariffs on Mexico, Canada come into effect At 5:01 GMT on Tuesday, President Trump's administration implemented 25% tariffs on imports from Mexico and Canada, aiming to address concerns over illegal immigration and drug trafficking. Trump also signed an...
Oil prices continued to fall in on Tuesday after U.S. President Donald Trump paused military aid to Ukraine and as markets braced for U.S. tariffs on Canada, Mexico and China to take effect. Brent futures fell 54 cents, or 0.75%, to $71.08 a barrel by 0149 GMT, while U.S. West Texas Intermediate (WTI) crude fell 36 cents, or 0.53%, to $68.01. The pause to all U.S. military aid to Ukraine confirmed by a White House official on Monday followed Trump's Oval Office clash with Ukrainian President Volodymyr Zelenskiy last week. The market has viewed the growing distance between the White House...
USD/CHF remains under pressure for the second consecutive day, hovering around 0.8960 during Tuesday's Asian session. The pair may decline further as the safe-haven Swiss Franc (CHF) strengthens amid escalating risk-off sentiment driven by growing concerns over a global tariff war. On Monday, the White House confirmed that President Trump signed an order raising tariffs on Chinese imports to 20%, while similar measures for Mexico and Canada are still pending. Trump also reiterated that reciprocal tariffs will take effect on April 2 for countries imposing duties on US goods. In response,...
Gold steadied around $2,880 per ounce on Tuesday, with investors assessing the economic outlook as U.S. President Donald Trump prepares to impose tariffs on key trade partners. On Monday, Trump confirmed that 25% tariffs on imports from Mexico and Canada would start later today, along with a doubling of China levies to 20%.He also reiterated that reciprocal tariffs would take effect on April 2 on countries that impose duties on U.S. products. These reignited fears of a global trade war that already showed signs of rising inflation and slowing economic growth — both of which support gold's...
The Japanese Yen (JPY) attracts some follow-through buying for the second straight day on Tuesday and moves back closer to a multi-month peak touched against its American counterpart last week. The hawkish sentiment surrounding the Bank of Japan's (BoJ) policy outlook continues to underpin the JPY. Moreover, concerns about the potential economic fallout from US President Donald Trump's tariff policies temper investors' appetite for riskier assets and further benefit the safe-haven JPY. Adding to this, Trump's threat to Japan over currency depreciation, along with subdued US Dollar (USD)...
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...