The U.S. central bank, to President Donald Trump's chagrin, will likely leave interest rates unchanged at a policy meeting this week, but that's not to say there won't be a vigorous debate, with one if not two Federal Reserve governors possibly casting a rare dissent in support of lower borrowing costs. The majority of Fed policymakers, though, remain concerned that Trump's tariffs could undo progress on bringing inflation back to the central bank's 2% goal, outweighing for now worries about the labor market. The trade deal struck between the U.S. and Japan last week, with tariffs set at...
Oil prices rose on Tuesday as traders assessed the impact of a drone attack on Kazakhstan's main oil export route, while talks to end the war in Ukraine kept traders cautious as they could boost Russian supplies. Brent crude futures rose 61 cents to $75.83 a barrel by 1:38 p.m. EST, while U.S. West Texas Intermediate crude rose $1.10, or 1.6%, to $71.84 a barrel, tracking gains Brent posted on Monday, when the U.S. contract traded without settlement due to a holiday. Brent rose 48 cents in the previous session after Ukrainian drones attacked a pumping station in Russia on the Caspian...
Gold rose above $2,930 an ounce on Tuesday, marking a second session of gains and approaching a record high of $2,940 hit last week as uncertainty over U.S. tariffs continued to fuel demand for the safe-haven asset. Since taking office, Trump has imposed 10% tariffs on Chinese imports, announced but then delayed 25% tariffs on Mexican goods and non-energy imports from Canada, scheduled 25% tariffs on imported steel and aluminum, and is preparing reciprocal tariffs on any country that taxes U.S. imports. However, hawkish remarks from Federal Reserve officials capped further gains. Fed...
The U.S. dollar strengthened on Monday, as investors assessed key negotiations between U.S. and Russia on a deal to end the war in Ukraine and lingering tariff concerns, as well as an interest rate reduction by Australia's central bank. By 07:41 EST (12:41 GMT), the U.S. dollar index, which measures the greenback against a basket of major currencies, rose 0.4% to 106.99. The index declined more than 1% last week. The euro was 0.3% lower at $1.05, while sterling also eased 0.3% to $1.26. Officials from the U.S. and Russia are holding crucial talks in Saudi Arabia on a potential agreement...
Oil extended gains on Tuesday after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, though prices were kept in check by the prospect of rising supply. Brent crude futures gained 44 cents, or 0.6%, to $75.66 per barrel by 1014 GMT. U.S. West Texas Intermediate crude futures were up 91 cents from Friday's close to $71.65 a barrel. There was no settlement for WTI on Monday because of the U.S. Presidents' Day holiday. "The overriding theme driving oil prices lately has been around supply expectations. With the weakness in prices over past weeks, news...
EUR/USD declines to near 1.0450 in Tuesday's European session after failing to hold above the psychological resistance of 1.0500 in the last two trading days. The major currency pair slumps as the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rebounds after attracting bids near a two-month low and recovers to near 107.00 at the press time. The Greenback discovers buying interest as investors weigh in expectations that the Federal Reserve (Fed) will keep interest rates in the current range of 4.25%-4.50% for a longer period. On Monday, a slew of...
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...