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's price (XAU/USD) edges higher and trades back up near $2,865 at the time of writing on Friday after its rather sluggish performance the previous day. The pickup in the rally comes ahead of the US Nonfarm Payrolls (NFP) report later in the day. A weaker number would benefit Gold, with rate cut odds from the Federal Reserve (Fed) increasing. Meanwhile, headlines emerged on Friday that China's central bank, the People's Bank of China (PBOC), has expanded its Gold reserves for a third month in a row. Even at fresh all-time high prices, the central bank bought roughly 0.16...
Silver held steady above $32.20 an ounce on Friday, on track for its fifth weekly gain in six years. The precious metal was supported by a weaker dollar, as concerns over escalating global trade tensions eased. Both the U.S. and China have taken a more cautious stance on tariffs, with U.S. President Donald Trump and Chinese President Xi Jinping set to discuss trade developments, potentially reversing some of the existing restrictions. Silver is also benefiting from expectations that the U.S. Federal Reserve will continue to cut interest rates this year, with markets anticipating two...
Gold (XAU/USD) prices surrendered most of its intraday gains heading into the European session on Friday (February 7), although remained close to the record highs touched earlier this week. The US Dollar (USD) moved higher amid some repositioning trade ahead of the release of the US Nonfarm Payrolls (NFP) report, which in turn, was seen as a key factor acting as a headwind for the commodity. That said, concerns over escalating US-China trade tensions and the economic impact of US President Donald Trump's trade policies might continue to act as a tailwind for the safe-haven Gold prices....
Oil prices edged up in Asian trade on Friday but were on track for a third straight weekly decline, fueled by U.S. President Donald Trump's renewed trade war with China and threats of tariffs on other countries. Brent crude was up 32 cents at $74.61 a barrel by 0500 GMT, but is expected to drop 2.8% this week. U.S. West Texas Intermediate crude, meanwhile, was up 24 cents at $70.85 a barrel, down about 2.3% for the week. "Oil prices have stabilized this morning after a volatile session overnight, as traders react to news of U.S. sanctions on Iranian crude exports to China," said Yeap Jun...
The Japanese Yen (JPY) moved lower after a cautious statement from the International Monetary Fund (IMF) and helped the USD/JPY pair bounce from sub-151.00 levels, the lowest level since December 10, touched during the Asian session on Friday (February 7). However, a meaningful JPY depreciation seems elusive given the growing acceptance that the Bank of Japan (BOJ) will continue to tighten its policy. In fact, comments from a senior BOJ official on Thursday suggested that the Japanese central bank is sticking to its stance of continuing to raise borrowing costs. This would result in 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 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...