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,...
A gauge of the dollar stayed in a narrow range amid US President Donald Trump's decision to proceed with tariffs on Canada and Mexico as well as his administration's plans to add restrictions on China's chip sector. The Bloomberg Dollar Spot Index was little changed. Euro inched up 0.1% to 1.0476 as Germany's chancellor-in-waiting Friedrich Merz is said to have opened talks with the Social Democrats to quickly approve as much as €200 billion ($210 billion) in special defense spending Treasury yields eased across the curve, with the 10-year yield down two basis points to...
Gold price (XAU/USD) maintains its offered tone through the early European session on Tuesday and currently trades around the $2,935 region, down 0.50% for the day. The intraday pullback from the all-time peak lacks any obvious fundamental catalyst and could be attributed to some profit-taking amid slightly overstretched conditions on the daily chart. That said, a combination of factors might hold back traders from placing aggressive bearish bets around the precious metal. Investors remain worried about the potential economic fallout from US President Donald Trump's protectionist trade...
Oil prices rose for a second day on Tuesday as fresh U.S. sanctions imposed on Middle Eastern producer Iran increased concerns supply might tighten and as global refining margins remained strong. Brent crude futures rose 38 cents, or 0.5%, to $75.16 a barrel by 0401 GMT. U.S. West Texas Intermediate crude futures gained 47 cents, or 0.7%, to $71.17 a barrel. Both contracts gained in Monday's session after a $2 drop last Friday. "In the short term, I continue to think crude oil is looking for a base. The fresh U.S. sanctions announced on Iran overnight will likely assist with this as will...
USD/CHF remains under pressure for the fourth consecutive session, hovering around 0.8970 during Asian trading hours on Tuesday. The pair's decline is driven by a weaker US Dollar (USD), weighed down by disappointing US economic data, including last week's Jobless Claims and the S&P Global Purchasing Managers' Index (PMI). Traders continued evaluating the interest rate outlook, with the Federal Reserve (Fed) expected to maintain its current stance for an extended period, amid ongoing uncertainty about President Trump's economic policies.USD/CHF remains under pressure for the fourth...
The Australian Dollar (AUD) recovers its daily losses as the US Dollar (USD) weakens amid declining US Treasury yields on Tuesday. Investors eagerly anticipate Australia's monthly inflation report on Wednesday, as it's expected to offer crucial insights into the future course of monetary policy after the Reserve Bank of Australia's (RBA) recent hawkish rate cut. The People's Bank of China (PBOC) injected CNY300 billion on Tuesday via the one-year Medium-term Lending Facility (MLF), maintaining the rate at 2%. Additionally, the PBOC injected CNY318.5 billion through seven-day reverse repos...
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...