European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US President Donald Trump. They acknowledged what they considered an unbalanced deal, but managed to avoid a deeper trade war. The agreement announced Sunday between the two countries, which account for nearly a third of global trade, will see the US impose 15% import tariffs on most EU goods – half the threatened tariffs, but much higher than Europe had hoped. However, many specific details of the deal remain unknown. "While awaiting the full...
Oil prices edged up on Wednesday amid worries of oil supply disruptions in the U.S. and Russia, and as markets awaited clarity on the Ukraine peace talks. Brent crude futures were up 14 cents, or 0.2%, at $75.98 a barrel at 0450 GMT, and possibly set for a third day of gains. U.S. West Texas Intermediate crude futures for March rose 16 cents, or 0.2%, to $72.01, up 1.8% from the close on Friday after not settling on Monday because of the Presidents' Day public holiday. The March contract expires on Thursday and the more active April contract gained 14 cents, or 0.2%, to $71.97. "The...
Silver prices held above $32.5 per ounce on Wednesday after gaining over 2% over the past two sessions, as global trade uncertainties continued to drive safe-haven demand for precious metals. US President Donald Trump said on Tuesday that he plans to impose auto tariffs "in the neighborhood of 25%" and similar duties on semiconductors and pharmaceutical imports, raising worries over a wider trade war. Meanwhile, investors kept an eye on US-led efforts to resolve the war in Ukraine, which could reduce demand for safe-haven assets like silver. Last week, silver reached a three-month high as...
USD/CHF weakens to around 0.9030 in Wednesday's early European. Global geopolitical stress boosts the safe-haven flows, supporting the CHF. Fed's Daly said the central bank should keep short-term borrowing costs where they are until the progress is more visible.The USD/CHF pair softens to near 0.9030 during the early European session on Wednesday. Tension-filled negotiations on the Russia-Ukraine conflict boost the safe-haven flows, benefiting the Swiss Franc (CHF). Traders will take more cues from the FOMC Minutes, which will be published later on Wednesday. Ukraine President Volodymyr...
Gold price (XAU/USD) attracts some sellers during the Asian session on Wednesday and erodes a part of the previous day's strong move back up closer to the record high. The downtick could be attributed to some profit-taking amid a generally positive risk tone, which tends to undermine demand for the safe-haven bullion. That said, the uncertainty surrounding US President Donald Trump's tariff plans might continue to act as a tailwind for the precious metal. Meanwhile, expectations that the Federal Reserve (Fed) might cut interest rates further this year, bolstered by a surprise drop in US...
GBP/USD appreciates as the US Dollar loses ground amid lower Treasury yields.Trump shared plans to impose a 25% tariff on foreign cars, with higher duties expected on semiconductor chips and pharmaceuticals.Traders await the UK Consumer Price Index (CPI) data for fresh insights into the BoE's policy outlook.GBP/USD remains firm after losses in the previous session, trading around 1.2610 during the Asian session on Wednesday. Traders await the release of January's Consumer Price Index (CPI) data from the United Kingdom (UK) scheduled to be released later in the day. The Pound Sterling (GBP)...
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...