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 rose to around $2,870 per ounce on Monday, as concerns over U.S. President Donald Trump tariff policies prompted safe-haven flows into bullion. Trump's proposed tariffs on Mexican and Canadian goods, set to take effect on March 4, alongside an additional 10% duty on Chinese goods, have fueled concerns over potential retaliatory measures and broader trade tensions. The inflationary impact of these actions also supports gold, which is often seen as a hedge against rising prices. Adding to its appeal, the U.S. dollar retreated from a two-week high, making the metal less expensive for...
The Australian Dollar (AUD) halted its six-day losing streak on Monday, buoyed by a weaker US Dollar (USD) following the release of January's Personal Consumption Expenditures (PCE) inflation data on Friday. The report aligned with expectations, easing fears of unexpected inflation spikes in the US. Australia's TD-MI Inflation Gauge fell by 0.2% month-over-month in February, reversing a 0.1% rise in January. This marked the first decline since last August and followed the Reserve Bank of Australia's (RBA) decision to cut its cash rate by 25 basis points to 4.1% during its first monetary...
TariffsOil gained at the start of the week ahead of planned tariffs by the Trump administration on major US trading partners including China, which raises the prospect of retaliatory measures and market volatility. Brent climbed above $73 a barrel after posting the biggest monthly loss since September, while West Texas Intermediate futures traded near $70. The levies on China, Mexico and Canada, which are scheduled to start on Tuesday, may yet be delayed, but any reprieve would likely be temporary. President Donald Trump's threats to implement sweeping tariffs on a number of...
Gold rises in early Asian trade. Goldman Sachs Research forecasts that gold will continue climbing up to $3,100/oz by the end of the year, supported by higher-than-expected central bank demand, says analyst Lina Thomas in a report. Policy uncertainty and tariff fears could also result in speculators holding their net long positions in gold for longer as a haven asset, Thomas adds, though this could be short-lived if investors become more confident about the economic and political environment. Spot gold is 0.4% higher at $2,868.21/oz. Source : Dow Jones Newswires
Oil prices fell on Friday and headed for their first monthly drop since November, as markets braced for Washington's tariff threats and Iraq's decision to resume oil exports from the Kurdistan region. Uncertainty over OPEC's planned April production restart and ongoing peace talks to end the war in Ukraine also weighed on investor sentiment. More active May Brent crude fell 83 cents, or 1.12%, to settle at $73.21 a barrel. U.S. West Texas Intermediate crude was at $69.78 a barrel, down 57 cents, or 0.81%. Front-month Brent, which expires on Friday, traded at $73.28, down 76 cents. Both...
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...