The United States and the European Union agreed on a framework trade deal to end months of uncertainty for industries and consumers. The two sides aim to produce a joint statement to clarify what they have agreed to, but here are the main elements of the deal that will enter into force on August 1 through an executive order by President Donald Trump, according to EU officials: * BASELINE TARIFF RATE: Almost all EU goods entering the U.S. will be subject to a 15% baseline tariff. The 15% tariff is not added to any existing rates. * CARS: Cars and car parts will be subject to the 15%...
Oil prices were little changed on Monday as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows. Brent crude futures was up 7 cents at $74.81 a barrel at 0430 GMT, while U.S. West Texas Intermediate crude was stable at $70.75 a barrel. The market continued to keep an eye on progress of peace talks, after U.S. President Donald Trump and his administration officials announced they had begun discussions with Russia to end the war in Ukraine. "If negotiations lead to a resolution, more Russian barrels would enter global...
Gold price (XAU/USD) kicks off the new week on a positive note following Friday's pullback from the vicinity of the all-time top and climbs back above the $2,900 mark during the Asian session. The US Dollar (USD) selling bias remains unabated in the wake of a delay in US President Donald Trump's reciprocal tariffs. This, along with worries that Trump's policies could trigger a global trade war, turn out to be key factors acting as a tailwind for the safe-haven precious metal. Meanwhile, the growing market acceptance that the Federal Reserve (Fed) would stick to its hawkish stance and keep...
USD/CHF pair extends its decline to around 0.8990 during the early European session, pressured by the weaker US Dollar (USD). The Federal Reserve (Fed) Patrick Harker and Michelle Bowman are set to speak later on Monday. On Tuesday, the Swiss Industrial Production will be released. US Retail Sales dropped by the most in nearly two years in January, weighing on the Greenback. Data released by the US Census Bureau on Friday showed that US Retail Sales dropped by 0.9% in January versus a 0.7% increase (revised from 0.4%) prior This figure came in weaker than the estimation for a decrease of...
Silver prices hit their highest since late October on Friday, latching on to factors that drove gold to successive record highs, with some analysts suggesting investors in the metal may aim to challenge a 10-year high just shy of $35 per ounce. However some analysts were cautious on the market's trajectory, given higher volatility in silver and a failure to reach similar dizzying heights as gold in 2024. Spot silver was last up 2% at $33 per ounce, having hit its highest level since late October at $33.41. The white metal scaled a more than 10-year peak of $34.87 per ounce on October 22....
The GBP/USD pair trades with mild gains near 1.2585 during the early Asian session on Monday. The major pair edges higher amid the upbeat UK Gross Domestic Product (GDP) report and weaker US Retail Sales data. The US market will be closed on Monday in observance of President's Day. US Retail Sales posted the biggest drop in nearly two years, dragging the Greenback lower. Retail Sales dropped 0.9% in January after an upwardly revised 0.7% increase in December, the Commerce Department's Census Bureau reported Friday. This figure came in weaker than the estimation of a 0.1% decline. On a...
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...
The European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of their ongoing trade deal, EU Trade Commissioner...