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:...
The dollar fell versus all Group-of-10 peers as tariff risks remain in the background, while the yen led gains following data pointing to more interest rate increases by the Bank of Japan. The Bloomberg Dollar Spot Index drops 0.3% to its lowest since Jan. 27; the yield on 10-year Treasuries slips 3bps to 4.48%. The move reflects unwinds of longs built on tariff risks and meets spillover of yen strength. USD/JPY drops 1.1% to 152.65, its lowest since Dec. 13; one-week risk reversals are little changed at 140bps, puts over calls Japan nominal wages rose 4.8% in December from a year...
Silver surged above $32 per ounce on Wednesday, hitting a three-month high as global trade and economic uncertainties fueled safe-haven demand for precious metals. The metal also benefited from a sharp pullback in the dollar. Earlier this week, the US delayed its planned 25% tariffs on Mexico and Canada for one month but proceeded with the imposition of 10% tariffs on China. Beijing retaliated with its own tariffs on select US exports and targeted several US firms for potential sanctions. On the supply side, the Silver Institute recently forecasted a fifth consecutive year of significant...
After weakening against its major peers on improving risk sentiment and disappointing US data on Tuesday, the US Dollar (USD) struggled to maintain its position on Wednesday morning. Later in the session, the US economic calendar will feature the ADP Employment Change and ISM Services Purchasing Managers' Index (PMI) data for January. Investors will also continue to watch comments from central bank officials throughout the day. The USD index fell about 0.4% on Tuesday after the US Bureau of Labor Statistics reported that JOLTS Job Openings fell to 7.6 million in December, below market...
Oil prices fell on Wednesday as rising US inventories and market concerns about a renewed China-US trade war offset President Donald Trump's renewed push to eliminate Iranian crude exports. Brent crude fell 21 cents, or 0.28%, to $75.99 a barrel by 0701 GMT. US West Texas Intermediate (WTI) crude fell 11 cents, or 0.15%, to $72.59. Crude prices traded in a wide range on Tuesday, with WTI down at one point as much as 3%, the lowest since December 31, after China announced tariffs on US oil, liquefied natural gas and coal imports in retaliation for US levies on Chinese exports. But prices...
The Japanese Yen (JPY) maintained its bullish bias through the early European session on Wednesday (February 5), with the USD/JPY pair holding just above the 153.00 mark, its lowest level since December 13. A rise in Japanese real wages reaffirmed bets that the Bank of Japan (BOJ) will raise interest rates again, which in turn, provided a strong boost to the JPY. Moreover, prospects for further policy easing by the Federal Reserve (Fed) would result in a further narrowing of the interest rate differential between the US and Japan. This turned out to be another factor driving flows towards...
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...
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...