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,...
EUR/USD pulled back on Wednesday, shedding around one-quarter of one percent after US President Donald Trump insisted that tariffs are coming for the European Union too, not just Canada and Mexico.The group of nations not facing tariff threats from the White House is rapidly diminishing. Should a full-scale trade war unfold, the Euro has now been added to the list of vulnerable currencies that may experience increased volatility due to shifting risk sentiment, as investors struggle to keep pace with the frequent updates emanating from the White House. This week, UK data is relatively...
The U.S. dollar firmed in early Asian hours on Thursday as Treasury yields ticked higher while investors assessed the outlook for tariffs and the economy under President Donald Trump.Asian stocks were mixed with tech shares around the region getting little steer from heavyweight U.S. chipmaker and AI darling Nvidia (NASDAQ:NVDA)'s earnings overnight.Cryptocurrency bitcoin languished below $85,000, while safe-haven gold was steady some $40 below its record high as trade war worries kept market sentiment fragile.Trump clouded the outlook for looming levies on top trading partners Canada and...
Gold prices edged higher on Thursday as concerns persisted over U.S. President Donald Trump's tariff plans, while investors awaited a key inflation report to assess the Federal Reserve's policy path. Spot gold was up 0.1% at $2,918.22 an ounce, as of 0018 GMT. U.S. gold futures rose 0.1% to $2,932.30. Trump on Wednesday raised hopes for another month-long pause on steep new tariffs on imports from Mexico and Canada, saying they could take effect on April 2, and floated a 25% "reciprocal" tariff on European cars and other goods. Since taking office on January 20, Trump has imposed an...
Oil prices fell to their lowest in two months on Wednesday as a surprise build in U.S. fuel inventories signaled weakening demand and the potential for a peace deal between Russia and Ukraine continued to weigh on prices. Brent crude futures were down 49 cents, or 0.67%, at $72.53 a barrel. U.S. West Texas Intermediate crude futures fell 31 cents, or 0.45%, to settle at $68.62. Both benchmarks settled at their lowest levels since Dec. 10. U.S. gasoline and distillate inventories posted a surprise increase last week even as crude inventories fell unexpectedly as refining activity...
Gold prices fell on Wednesday (26/2) after a recent record rally, as investors awaited inflation data due later in the week and the latest developments on US President Donald Trump's tariff plans. Spot gold fell 0.1% to $2,912.51 an ounce by 1:49 p.m. ET (1849 GMT). Bullion, a preferred hedge against uncertainty and inflation, hit a record high of $2,956.15 on Monday amid trade war concerns stemming from the threat of tariffs. US gold futures settled 0.4% higher at $2,930.60. On Tuesday, Trump ordered an investigation into potential new tariffs, opening a new tab on copper imports to...
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...