President Donald Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. Trump told reporters his administration will notify some 200 countries soon of their new "world tariff" rate. "I would say it'll be somewhere in the 15 to 20% range," Trump told reporters, sitting alongside British Prime Minister Keir Starmer at his luxury golf resort in Turnberry, Scotland. "Probably one of those two numbers." Trump, who has vowed to end...
The Australian Dollar (AUD) pauses its three-day winning streak against the US Dollar (USD) as traders await the Reserve Bank of Australia's (RBA) policy decision on Tuesday. The central bank is widely expected to lower its Official Cash Rate (OCR) by 25 basis points (bps) to 4.10%, marking the first rate cut in four years. However, policymakers may adopt a cautious stance, as trimmed mean inflation remains above the RBA's 2%-3% target range. Signs of easing inflation in Australia have increased expectations for a rate cut in February. December data indicated slowing price pressures, with...
Oil steadied after an advance as OPEC+ delegates said the group was considering delaying restoring output, and Ukrainian drones attacked a crude-pumping station in Russia. Brent crude traded above $75 a barrel after a modest gain on Monday, while West Texas Intermediate was near $71. The cartel and its allies are considering pushing back a series of monthly supply increases due to start in April, according to delegates. Meanwhile, the Ukrainian strike forced exports through the main pipeline from Kazakhstan to slow. Postponing the 120,000 barrel-a-day hike would...
Gold is steady in the early Asian trade. The precious metal's safe-haven status is even more appealing with a U.S. administration as unpredictable and disruptive as Trump, says Justin Smirk, Westpac Group's senior economist in a report. Traders remain concerned that Trump's reciprocal tariff plan will raise global trade tensions, ANZ Research analysts say noting his latest tariff threat includes levies on automobiles. Spot gold is flat at $2,899.41/oz. Source : Dow Jones Newswires
Goldman Sachs on Monday raised its year-end 2025 gold price forecast to $3,100 per ounce, up from $2,890, citing sustained central bank demand. The bank estimates that "structurally higher central bank demand will add 9% to the gold price by year-end, which combined with a gradual boost to ETF holdings as the funds rate declines." This should outweigh the drag from normalizing investor positioning, assuming uncertainty diminishes, Goldman Sachs added. However, if policy uncertainty, including tariff concerns, remains high, Goldman sees the potential for gold to surge to $3,300 per ounce...
Silver prices held steady above $32 an ounce on Monday (2/17) after experiencing wild swings in the previous session. The metal found support from a weaker dollar, boosted by weak US economic data and easing concerns over a global trade war. Investors are also keeping an eye on US-led efforts to resolve the war in Ukraine, which could dampen demand for safe-haven assets such as silver. However, silver hit a three-month high on Friday as strong industrial demand, especially from the electrification and manufacturing sectors, supported prices. Recent data showed that China is adding 357...
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...