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,...
Silver price (XAG/USD) drifts higher to around $32.70 during the Asian trading hours on Monday. The weakening of the US Dollar (USD) provides some support to the USD-denominated commodity price. Furthermore, the uncertainty and concerns over US President Donald Trump's tariff plans might boost the safe-have flows, which contribute to Silver's upside. Silver prices rose recovering some of the losses from the previous session as the dollar came under pressure due to a deteriorating economic outlook in the US and a stronger euro. Ongoing trade and geopolitical uncertainties continued to fuel...
Oil prices slipped in Asia on Monday, extending losses from last week, on the prospect of a resumption of exports from Kurdistan's oilfields, while investors awaited clarity on talks to resolve Russia's war on Ukraine. Brent futures were down 14 cents, or 0.2%, at $74.29 barrel, as of 0441 GMT, while U.S. West Texas Intermediate crude futures lost 22 cents, or 0.3%, to $70.18 a barrel. Both Brent and WTI dropped by more than $2 on Friday, posting weekly declines of 0.4% and 0.5%, respectively. "The downward spiral in crude oil prices is driven by pressure from the U.S. president on Iraq...
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, kicks off the new week on a downbeat note and drops to its lowest level since December 10 during the Asian session. The index is currently placed around the 106.25 area, with bears looking to build on weakness below the 100-day Simple Moving Average (SMA).Against the backdrop of the disappointing release of US Retail Sales figures, a disappointing sales forecast from Walmart raised doubts about US consumer health. Adding to this, data released on Friday fueled worries about the US growth outlook amid...
The dollar index dropped 0.4% to around 106.2 on Monday, reaching an 11-week low as the euro surged following the conservative victory in Germany's general election. Friedrich Merz, leader of Germany's conservative opposition, is now expected to form a coalition government aimed at pushing through fiscal reforms. The dollar has also been under pressure amid growing concerns about the US economy, which could prompt the Federal Reserve to cut interest rates further. Data released on Friday revealed that US business activity nearly stagnated in February, with services sector contraction...
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Monday, though it remains confined in a familiar range near the all-time peak touched last week. The uncertainty surrounding US President Donald Trump's trade tariffs and their impact on the global economy, along with the broader risk-averse theme, continues to act as a tailwind for the safe-haven bullion. Apart from this, geopolitical tensions and the underlying bearish sentiment surrounding the US Dollar (USD) turn out to be other factors that underpin the commodity. That said, expectations that the Federal Reserve...
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...