After speaking to Mexican President Claudia Sheinbaum on the phone on Thursday, United States (US) President Donald Trump said that Mexico will continue to pay a 25% fentanyl tariff, 25% tariff on cars, and 50% tariff on steel, aluminum, and copper. "Mexico has agreed to immediately terminate its non tariff trade barriers," Trump noted and added that they will talk to Mexico over the next 90 days with the goal of signing a trade deal, confirming an extension of the current agreement. Source: Fxstreet
Silver price (XAG/USD) trades in positive territory for the third consecutive day near $32.50 during the Asian session on Friday. The growing concerns about US President Donald Trump's tariff policies continue to underpin the white metal. Traders brace for the US Retail Sales for January, which are due later on Friday. US President Donald Trump promised to target countries that charge tax on US imports by matching them with a reciprocal tariff. Late Thursday, Trump ordered his administration to start study duties by early April, prompting fears of a global trade war, boosting the safe-haven...
Gold price (XAU/USD) resumes rally during the Asian trading hours on Friday. The growing concerns about US President Donald Trump's tariff plans provide some support to the precious metal. Additionally, a decline in US bond yields across the curve contributes to the yellow metal's upside. However, the expectation that the US Federal Reserve (Fed) will stick to its hawkish stance and hold the interest rate higher for longer could drag the non-yielding yellow metal lower. Traders will keep an eye on the release of US Retail Sales for January, which is due later on FridayGold price edges...
USD/JPY remains steady after registering losses in the previous session, trading around 152.60 during the Asian hours on Friday. The pair faced challenges following US President Donald Trump's decision to postpone the implementation of reciprocal tariffs. Additionally, the US Dollar (USD) weakens amid falling US yields across the curve, despite ongoing concerns about a global trade war. Investors now await the release of US Retail Sales data later in the day. The US Dollar Index (DXY), which measures the US Dollar's value against six major currencies, extends its losses for the fourth...
The Australian Dollar (AUD) strengthens for the second consecutive day on Friday, driven by US President Donald Trump's decision to postpone the implementation of reciprocal tariffs. Additionally, the AUD/USD pair appreciates as the US Dollar (USD) weakens amid falling US yields across the curve, despite ongoing concerns about a global trade war. Investors now await the release of US Retail Sales data later in the day. The AUD may face headwinds as expectations of a Reserve Bank of Australia (RBA) rate cut remain intact following fresh inflation outlook data. Consumer inflation expectations...
Oil steadied as the market digested the fallout from President Donald Trump's order of potential reciprocal tariffs on US trading partners.Brent was near $75 a barrel after a modest decline on Thursday, while West Texas Intermediate was above $71 a barrel. The US president signed a measure to propose new levies on a country-by-country basis. It could take weeks or months to complete, but raised the prospect of more trade tensions.Tariffs on crude from Canada and Mexico are set to start next month, alongside a levy on steel, but the US oil industry is confident it can win exemptions from the...
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...
US President Donald Trump announced a new trade deal with South Korea, stating that the United States (US) would charge a 15% tariff on imports from South Korea, Reuters reported on Wednesday. The...