The ISM Manufacturing PMI fell to 48 in July 2025 from 49 in June, missing expectations of a rise to 49.5. This figure marked the fifth consecutive month of contraction in the manufacturing sector and was the weakest since October of last year. The largest negative contributions came from declines in supplier deliveries (45.7 vs. 46.7) and employment (43.4 vs. 45.0). On the positive side, production increased (51.4 vs. 50.3), while declines in new orders (47.1 vs. 46.4) and backlogs (46.8 vs. 44.3) eased. Price pressures also eased, with the price index falling to 64.8 from 69.7. Source:...
Gold prices recovered slightly in the North American session on Wednesday (2/12). Federal Reserve (Fed) Chairman Jerome Powell said that policy needs to remain tight as inflationary pressures increase and US President Donald Trump's tariff threats escalate. XAU/USD is trading at $2,897, almost unchanged. The non-yielding metal halted its downtrend after the US Bureau of Labor Statistics (BLS) revealed that inflation jumped above 3% in the United States, indicating that the Fed's pause in its easing cycle could be longer than expected. Last week, December federal funds rate futures showed...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades unchanged around 108.00 after Federal Reserve (Fed) Chairman Jerome Powell did not leave any clues for markets to pick up on, when facing lawmakers on Tuesday at Capitol Hill. Powell did not leave many clues about the timing for another interest rate cut by the central bank, if any. Traders are mulling what to do next, with US yields slowly but surely starting to head higher this week. The economic calendar shows the Consumer Price Index (CPI) numbers for January are due on...
Gold's price (XAU/USD) is facing some profit-taking pressure and trades below $2,900 throughout this Wednesday after Federal Reserve (Fed) Chairman Jerome Powell went to Capitol Hill for his semi-annual testimony before lawmakers the previous day and before the US Consumer Price Index (CPI) data for January release. Powell did not say much but stated that the current level of the monetary policy rate is helping the central bank to withstand market volatility and potential inflation shocks that could take place. The comments were enough to fuel a small surge in US bond yields. Meanwhile,...
Oil prices fell 1% on Wednesday, ending three days of gains, as industry sources pointed to rising U.S. crude stockpiles and hawkish remarks from Fed Chair Jerome Powell that signalled slower rate cuts this year. Brent futures were down 67 cents or 0.87% at $76.33 a barrel by 0936 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 75 cents or 1.02% to $72.57 a barrel. The declines come after three days of gains during which Brent climbed 3.6% and WTI rose 3.7%. "Oil prices resumed their downtrend as the macro environment weighed on sentiment, with Jerome Powell indicating that...
The US dollar steadied Wednesday ahead of key inflation data that could guide future Federal Reserve policy, after relatively hawkish comments from Fed Chair Jerome Powell. At 04:15 ET (09:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded marginally higher at 107.875, after recording some overnight losses, as traders stepped back from a tariff-driven rally in the greenback. Dollar steadies ahead of US CPI The day's main focus will be the publication of a key monthly reading of U.S. inflation later in the session, which could factor into...
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 U.S. will levy a 30% tariff on South African exports next week, after Pretoria failed to reach a trade deal before President Donald Trump's deadline. The new rate is part of a broader executive...