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 U.S. dollar sagged near an 11-week low against its major peers on Wednesday, under pressure from sliding short-term Treasury yields after a run of weak economic data. The safe-haven yen strengthened towards its highest level since October with investor sentiment fragile amid the threat of new rounds of tariffs from the administration of U.S. President Donald Trump, whereas the Canadian dollar hovered near a two-week trough with additional levies due to hit next week. "U.S. data flow on net is now disappointing expectations, calling into question the U.S. exceptionalism narrative that...
Gold edges higher in early Asian trade likely due to a technical recovery after front-month Comex gold futures fell sharply overnight. However, demand for safe-haven assets could keep gold prices near record levels, FlowCommunity's Ruben Ferreira says in an email. Market volatility has increased after U.S. President Trump said tariffs on Mexico and Canada were set to move forward next week, the head of Portuguese Operations says. This has damped hopes for an easing in trade tensions and could drive more bullish sentiment for the precious metal, Ferreira adds. Spot gold is 0.2% higher at...
Silver prices plunged over 1.80% on Tuesday (25/2), which saw the grey metal hit an intraday peak of $32.48, before dipping below the $32.00 mark on risk aversion and traders booking profits amid uncertainty over US trade policy. XAG/USD was trading at $31.73 unchanged as Wednesday's Asian session began. (Newsmaker23) Source: FXstreet
Oil prices plunged about 2% to their lowest in two months on Tuesday as weak economic news from the U.S. and Germany fueled concerns about slowing energy demand, along with signs from some countries that oil production would increase. Brent crude futures fell $1.76, or 2.4%, to settle at $73.02 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.77, or 2.5%, to settle at $68.93. That was the lowest close for Brent since Dec. 23 and WTI since Dec. 10. U.S. data showed consumer confidence deteriorated at its sharpest pace in 3-1/2 years in February, with 12-month inflation...
Gold prices fell to their lowest in more than a week on Tuesday, as investors booked profits after hitting a record high in the previous session on lingering concerns about instability surrounding U.S. President Donald Trump's tariff plans. Spot gold fell 1.4% to $2,909.59 an ounce by 1:46 a.m. (1846 GMT), after hitting its lowest since Feb. 17 earlier in the session. It hit a high of $2,956.15 on Monday. U.S. gold futures settled 1.5% lower at $2,918.80. "You're seeing profit-taking and people looking to get out and rebuild positions at lower prices," said Bob Haberkorn, senior market...
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...