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 euro fell after data showed business activity in the euro area hardly grew in February. The dollar remained on course for its longest weekly losing streak since September. EUR/USD drops as much as 0.3% to 1.0468; it fell to a fresh day low after French composite PMI data came in below forecasts and held losses following PMI data out of Germany. Investors added to bets on European Central Bank interest-rate reductions. Money markets are now pricing 78 basis points of easing this year compared with 74 basis points on Thursday. Bonds held gains, with the German 10-year yield three...
The USD/CHF pair recovers some lost ground around 0.8985 amid a modest rebound in US Dollar (USD) during the early European session on Friday. Investors brace for the preliminary US S&P Global PMI reports, which will be released later on Friday. Also, the Federal Reserve's (Fed) Mary Daly and Philip Jefferson are set to speak later on the same day. Fed officials in January agreed they would need to see inflation ease more before lowering interest rates further. Policymakers are concerned about the impact Trump's tariffs would have in making that happen, according to meeting minutes...
Oil prices were steady on Friday and poised for a weekly increase amid an improving outlook for demand in the U.S. and China. Concerns over supply disruptions in Russia also lent support. Brent futures dipped 3 cents to $76.45 a barrel by 0414 GMT while U.S. West Texas Intermediate crude edged down 4 cents to $72.44. Both indexes have gained over 2% this week - the largest weekly advances since early January. Brent would be marking a second week of gains after three weeks of declines. WTI is set to have its first week of gains after four weeks of declines. Global oil demand has averaged...
Gold price (XAU/USD) attracts some sellers in the vicinity of the $2,950 level during the Asian session on Friday and moves away from the all-time peak touched the previous day. The intraday downtick could be attributed to some profit-taking amid slightly overbought conditions on the daily chart. The downside, however, remains cushioned in the wake of worries that US President Donald Trump's tariff plans could trigger a global trade war. This might continue to act as a tailwind for the safe-haven bullion. Furthermore, expectations that Trump's protectionist policies would reignite inflation...
ilver price (XAG/USD) remains under pressure after gaining in the previous session, trading around $32.90 per troy ounce during Asian trading hours on Friday. Safe-haven metals like Silver face selling pressure as risk-on sentiment strengthens following US President Donald Trump's announcement of potential progress in trade negotiations with China. Trump's remarks helped ease market concerns over tariffs, and he expressed expectations that Chinese President Xi Jinping might visit, while also discussing matters related to TikTok. However, Silver found some support amid lingering trade and...
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...