The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President Donald Trump announced Sunday while in Scotland. The broad-strokes deal encompasses significant EU purchases of U.S. energy and military gear, along with substantial investments in the American economy. According to Trump, the European Union has committed to purchasing $750 billion worth of energy from the United States. He also stated that the EU has agreed to make $600 billion in investments in the U.S. "They are agreeing to open up their...
Gold futures rise to a fresh high. Futures are up 1.2% at $2,971.30 a troy ounce after a new record of $2,973 an ounce earlier in the session. Gold's near 12% rise year to date surpasses even MUFG's above-consensus expectations, analysts say in a note. Gold's rally has shrugged off a higher U.S. dollar and yields as well as growing Russia-Ukraine war settlement prospects, MUFG says. MUFG keeps its end-of-year spot gold estimate of $3,080 an ounce, but said there was clear upside potential. The bullion looks well-positioned to hedge risks from U.S. President Trump's policies. Should Trump...
The EUR/USD pair recovers some lost ground to near 1.0425 during the early European trading hours on Thursday. The weakening of the US Dollar (USD) provides some support to the major pair. However, tariff concerns from US President Donald Trump and geopolitical tension might cap its upside. The ECB sets interest rates and manages monetary policy for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a...
Oil prices edged lower on Thursday after an industry report showing a build in U.S. crude stockpiles weighed on sentiment, falling back from gains made in the previous session on worries over supply disruptions in Russia. Brent futures were down 17 cents at $75.87 a barrel by 0600 GMT. U.S. West Texas Intermediate crude dropped 30 cents to $71.95. The March contract expires on Thursday and the more active April contract eased 22 cents to $71.88. Oil prices, which held near a one-week high on Wednesday, were on track to snap a three-session winning streak on Thursday. U.S. crude stocks...
Gold price (XAU/USD) sticks to its positive bias through the Asian session on Thursday and currently trades around the $2,944 area, just below the all-time peak touched the previous day. Worries that US President Donald Trump's tariffs on imported goods could spark a global trade war weigh on investors sentiment and underpin demand for the safe-haven bullion. Moreover, flight to safety triggers a fresh leg down in the US Treasury bond yields and further benefits the non-yielding yellow metal.Meanwhile, declining US bond yields fail to assist the US Dollar (USD) to capitalize on this week's...
USD/CHF pair meets with some supply during the Asian session on Thursday and for now, seems to have snapped a three-day winning streak to the weekly top, around the 0.9055 area touched the previous day. Spot prices currently trade near the lower end of the daily range, around the 0.9025 region, and seem vulnerable to sliding further. US President Donald Trump said on Wednesday that he will announce tariffs on a number of products next month or even sooner. This fuels concerns about a global trade war and tempers investors' appetite for riskier assets, which is evident from a generally...
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.
It...
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...
The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President Donald Trump announced Sunday while in Scotland.
The...