US President Donald Trump visited the Federal Reserve (Fed) headquarters in Washington, D.C., on Friday (July 25th). President Trump recently turned his attention to criticizing the long-planned renovation of the Fed headquarters. Trump, who oversaw a comprehensive renovation of the White House interior, adding gold accents, claimed that the Fed renovations represent an unnecessary expense for U.S. taxpayers in an attempt to further narrow the gap between the executive branch's ability to control the U.S. central bank, which is currently beyond the President's broad reach. During Trump's...
Gold prices fell more than 1% on Tuesday, as optimism over a trade deal between the U.S. and its trading partners weighed on safe-haven flows, with a stronger U.S. dollar and rising Treasury yields adding further pressure. Spot gold fell 0.8% to $3,307.16 an ounce, as of 1:49 p.m. EDT (1749 GMT), after hitting its lowest in more than a week earlier in the session. U.S. gold futures settled 0.8% lower at $3,316.9. The benchmark 10-year Treasury yield hit its highest in more than two weeks, making non-yielding bullion less attractive, while the dollar, opens new tab , edged up 0.1%. Asia's...
Oil prices held near two-week highs on Tuesday as investors assessed the latest developments in U.S. tariffs and a bigger-than-expected increase in OPEC+ output for August. Brent crude futures rose 29 cents, or 0.4%, to $69.87 a barrel by 11:07 a.m. EDT (1507 GMT), while U.S. West Texas Intermediate (WTI) crude rose 11 cents, or 0.2%, to $68.04. That put both benchmarks on track for their highest closes since June 23 for a second straight day. Major Asian economies Japan and South Korea said on Tuesday they would try to negotiate with the U.S. to soften the impact of much higher tariffs...
Gold fell as investors analyzed President Donald Trump's decision to delay the start of increased tariffs on some trading partners, while insisting that the new deadline is final. The precious metal fell as much as 1.5%, with investors awaiting more details on the president's approach to negotiations, following this week's move to delay the imposition of all tariffs from April 2 to August 1, effectively giving each affected country an extra three weeks to reach a deal. "Tariffs will start being paid on august 1, 2025. There has been no change to this date, and there will be none," Trump...
The US dollar strengthened again on Tuesday (08/07) after falling earlier in the day, as market sentiment stabilized following US President Donald Trump's executive order extending the tariff deadline to August 1 from July 9. US President Trump posted a trade warning letter on his social media platform, Truth Social, on Monday night, addressed to 14 countries, including Japan and South Korea. The letter warned of the possibility of new "reciprocal" tariffs taking effect on August 1. The news had boosted demand for the US dollar as investors turned to safe-haven assets. However, with the...
Sterling falls to a two-week low against the dollar as the U.S. currency recovers and U.K. fiscal concerns mount. The dollar rises on hopes for trade deals as the President Trump confirmed a three-week extension to the deadline for trade negotiations until August 1. In the U.K., the Labour government recently made major concessions to its welfare reforms following a backlash from party MPs. Efforts to rein in special educational needs spending face a similar fate, Monex Europe analysts say in a note. That sets up another political fight in the coming weeks that could weigh further on...
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 EU and the U.S. are reportedly nearing a trade agreement that would impose a 15% tariff on most imports, including potentially cars and pharmaceuticals, Bloomberg News reported, citing...