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,...
West Texas Intermediate (WTI) Oil price edges higher to around $70.30 per barrel during Asian trading hours on Monday. However, crude Oil prices faced downward pressure amid expectations of resumed exports from Kurdistan's Oilfields.On Sunday, Reuters reported that an Iraqi Oil ministry official confirmed Iraq's plan to export 185,000 barrels per day (bpd) from Kurdistan's Oilfields via the Iraq-Turkey pipeline. The ministry stated that all necessary procedures had been completed to facilitate the resumption of exports through the pipeline. Meanwhile, traders remain focused on developments...
The euro firmed on Monday after Germany's opposition conservatives won the national election as expected, while the dollar extended its decline on mounting worries over the growth outlook of the U.S. economy. Friedrich Merz was set to become Germany's next chancellor after his party emerged victorious in Sunday's election, though he faces complex and lengthy coalition negotiations after the far-right Alternative for Germany (AfD) surged to a historic second place in a fractured vote. The euro extended gains from early in the session to last trade 0.46% higher at $1.0508. Investors' focus...
The Japanese Yen (JPY) builds on last week's strong gains against its American counterpart and drags the USD/JPY pair below the 149.00 mark, or the lowest level since early December during the Asian session on Monday. Japan's strong Consumer Price Index (CPI) released on Friday comes on top of the upbeat Q4 Gross Domestic Product (GDP) growth report last week. This, along with expectations that sustained wage gains would spur consumer spending, suggests that the Bank of Japan (BoJ) might hike interest rates more aggressively than initially thought and continue to underpin the JPY. Apart...
The GBP/USD pair kicks off the new week on a positive note and climbs above mid-1.2600s during the Asian session, closer to over a two-month top touched on Friday. Spot prices now look to build on the momentum beyond the 100-day Simple Moving Average (SMA) amid a weaker sentiment surrounding the US Dollar (USD). In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, drops to its lowest level since December 10 amid doubts about US consumer health, fueled by a disappointing sales forecast from Walmart. Moreover, worries over the impact of US President Donald...
AUD/USD drifts higher to near 0.6370 in Monday's early Asian session, adding 0.25% on the day. China vowed to adopt more targeted measures to stimulate consumer spending, supporting the Aussie. Renewed trade tensions could boost the US dollar and cap the upside for the pair. The AUD/USD pair edges higher to near 0.6370 during the early Asian session on Monday. The Australian Dollar (AUD) attracts some buyers as the Chinese government announced rural revitalisation plans in its annual policy blueprint. According to the State Council's annual rural policy blueprint, China will intensify rural...
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...