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,...
GBP/USD was volatile on Monday (24/2), surging to a fresh 10-week high before slumping back to the day's opening bid near 1.2630. Cable failed to reclaim the 1.270 handle, and price action has fallen back below the 200-day Exponential Moving Average (EMA) near 1.2660. A resurgence in US inflation figures late last week sparked a fresh round of risk aversion. Investors will be focused on the upcoming US Personal Consumption Expenditure (PCE) inflation data due later this week. Traders are hoping that the early-year uptick in key inflation data from the US will recede quickly and not turn...
Oil prices edged up on Monday as new U.S. sanctions on Iran and a commitment to compensate for excess production by Iraq added to concerns about a short-term supply squeeze, helping the market recover some of Friday's steep losses. Brent crude futures rose 45 cents, or 0.6%, to $74.88 a barrel by 1:39 p.m. EST (1839 GMT), after closing at their lowest since Feb. 6 on Friday. U.S. West Texas Intermediate crude futures rose 43 cents, or 0.6%, to $70.83, recovering from their lowest settlement so far this year in the previous session. The U.S. Treasury Department imposed a new round of...
Gold prices surged during the North American session after hitting a record high of $2,956 as the greenback weakened and US Treasury yields fell. At the time of writing, XAU/USD was trading at $2,949, up 0.49%. Uncertainty kept Bullion prices firm as investors weighed US President Donald Trump's proposed trade policies. Geopolitics continued to be in the second stage as the Ukraine-Russia conflict appeared closer to being resolved, while rising tensions in the Middle East fueled demand for Gold. Gold prices have been on the rise for the past eight weeks, driven by the most significant net...
Oil prices steadied on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq. Brent futures were down 6 cents, or 0.1%, at $74.37 barrel by 1302 GMT while U.S. West Texas Intermediate crude futures declined by 14 cents, or 0.2%, to $70.26. Both Brent and WTI dropped by more than $2 on Friday, registering weekly declines of 0.4% and 0.5% respectively. All eyes remain on efforts to end Russia's war on Ukraine, which enters its fourth year on Monday. Officials said on Sunday that European Union...
Gold's price (XAU/USD) is holding on to intraday gains on Monday, trading near $2,947 at the time of writing, supported by a weaker US Dollar (USD) and softer US yields in a reaction to the recent German federal election outcome. Although the far-right party Alternative for Germany (AfD) has gained 20% of votes, the Christian Democratic Union of Germany (CDU) is comfortable in the lead with 208 seats against AfD's 152. US yields dropped off and the CME Federal Reserve (Fed) Futures are now favoring a 25 basis points (bps) rate cut in June, where last week odds were rather for no rate cut in...
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...