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 futures rose in relatively quiet trading, regaining some ground after Tuesday's sharp selloff. Futures rose 0.3% to $2,927.80 an ounce, nearing an all-time high of $2,974 an ounce hit on Monday. The German election results were well-received by the market, while optimism grew for a Russia-Ukraine peace deal, Nikos Tzabouras of Tradu said in a note. These developments boosted market sentiment, which led to a decline in gold prices on Tuesday, Tzabouras wrote. However, while a deeper correction in the near-term cannot be ruled out, the path of least resistance remains to the upside....
Oil prices held at two-month lows on Wednesday as a potential peace deal between Russia and Ukraine continued to weigh on prices while lower U.S. crude stockpiles provided some support. Brent crude was down 19 cents at $72.83 a barrel by 1256 GMT and U.S. West Texas Intermediate crude oil futures fell by 13 cents to $68.80. Prospects for a peace deal between Russia and Ukraine are improving, ING commodities strategists said in a note on Wednesday, adding that the market was also watching for potential implications of a minerals deal between the U.S. and Ukraine. "This would take us a step...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, orbits around 106.50 at the time of writing on Wednesday after not making any positive impressions in February. The DXY Index holds near yearly lows as traders shun the Greenback in a flight to safe havens from United States (US) President Donald Trump's tariffs, which are set to kick in on March 4 for Mexico, Canada, and China. Meanwhile, traders are seeing a second element of a weaker greenback.For the first time this year, Federal Reserve (Fed) rate cut bets are pricing in two...
Gold's price (XAU/USD) stabilizes and trades near $2,910 at the time of writing on Wednesday, following a 1.3% drop the previous day after markets got spooked by weak US consumer confidence data and more realistic tariff threats from President Trump's administration. Meanwhile, United States (US) yields have plunged substantially, with markets projecting a 25 basis points (bps) rate cut in June from the Federal Reserve (Fed). This is supportive for the precious metal and should see price action bottoming out from here. Markets are looking forward to March 4, when tariffs on Mexico and...
Oil prices held around two-month lows on Wednesday as a potential peace deal between Russia and Ukraine continued to weigh on prices while lower U.S. crude stockpiles provided some support. Brent crude rose 16 cents, or 0.2%, to $73.18 a barrel by 0926 GMT. U.S. West Texas Intermediate crude oil futures were up 20 cents, or 0.3%, at $69.13. Prospects for a peace deal between Russia and Ukraine are improving, ING commodities strategists said in a note on Wednesday, adding that the market was also watching for potential implications of a minerals deal between the U.S. and Ukraine. "This...
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...