President Donald Trump said he would impose 25% tariffs on India starting August 1 and hinted at adding additional penalties on the country's energy purchases from Russia. In a post on Truth Social on Wednesday, Trump said India has tariffs that are "among the highest in the world, and they have the most onerous and obnoxious non-monetary trade barriers of any country." "Furthermore, they have always purchased the majority of their military equipment from Russia, and are Russia's largest energy buyer, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE,"...
Silver extended its rally past the $33 per ounce mark on Friday, the highest in over three months and outperforming other bullion as its demand in electrification and manufacturing magnified the the support from a global pivot to safety. The unexpected rebound in the ISM Manufacturing PMI for January improved the outlook for US factory demand following more than two years of monthly contractions. Additionally, new data showed that China put up 357 gigawatts of solar and wind power in 2024, among the main uses of industrial silver. Also on the solar power front, India's Oil and Natural Gas...
The US dollar fell Friday, on track for a hefty weekly loss in the wake of hot inflation data and after President Donald Trump delayed imposing reciprocal tariffs on major U.S. trading partners. At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower to 106.815, dropping to a three-week low and on course for a loss of around 1% this week. President Trump directed officials on Thursday to formulate plans for reciprocal tariffs on every country that imposes taxes on U.S. imports, but stopped short of immediately...
Gold prices rose on Friday and were on tack for a seventh consecutive weekly gain as worries over a potential global trade war intensified after U.S. President Donald Trump's push for reciprocal tariffs. Spot gold was up 0.3% at $2,936.79 an ounce by 0828 GMT, taking its weekly advance to 2.7%. Bullion hit a record peak of $2,942.70 on Tuesday. U.S. gold futures were up 0.5% at $2,961.40. Uncertainty over the Trump administration's policies on trade, tariffs and broader foreign policy continues to support bullion, said Nicholas Frappell, global head of institutional markets at ABC...
EUR/USD moves little as traders adopt caution ahead of Eurozone GDP and US Retail Sales data due on Friday.Eurozone GDP may remain consistent at 0.9% growth YoY in Q4, as expected.US Retail Sales are forecasted to contract by 0.1% MoM in January, following a previous increase of 0.4%.EUR/USD holds steady around 1.0460 during Asian trading hours on Friday, following three consecutive sessions of gains. The pair strengthened after US President Donald Trump delayed the implementation of reciprocal tariffs. Meanwhile, the US Dollar (USD) weakens amid declining US Treasury yields, despite ongoing...
The US Dollar Index depreciated following Trump's decision to delay the implementation of reciprocal tariffs.US Retail Sales are forecasted to contract by 0.1% MoM in January, following a previous increase of 0.4%.The Greenback may gain ground as US Core PPI inflation has increased the odds of the Fed delaying rate cuts.The US Dollar Index (DXY), which tracks the US Dollar's (USD) performance against six major currencies, remains stable after losses in the previous session. At the time of writing, the DXY hovers around 107.00, while yields on 2-year and 10-year US Treasury bonds stand at...
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...
U.S. President Donald Trump said on Tuesday that India will likely face trade tariffs of 20% to 25%, although a deal is yet to be finalized.
The tariff level is far greater than the 15% duties...