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 U.S. crude benchmark outpaced gains in other oil markets after President Donald Trump announced tariffs that threaten flows from America's two biggest foreign suppliers. West Texas Intermediate crude rose to $2.65 a barrel on Monday, compared with $1.67 for Brent, narrowing the spread between the two grades to the smallest since September 2023. The narrowing gap underscores risks to U.S. supply, both from Canadian flows into the Oklahoma storage hub where U.S. crude futures are priced, and from Mexican shipments into the Gulf Coast. Source: Bloomberg
EUR/USD plunged more than 1% to near 1.0240 at the start of the week. The major currency pair plunged as US President Donald Trump reiterated his threat to impose tariffs on the European Union (EU). Over the weekend, Donald Trump imposed 25% tariffs on Canada and Mexico and 10% on China. Trump also warned that he would also increase levies on the trading bloc, but he did not provide much information. "That will definitely happen with the European Union. I can tell you that because they have really taken advantage of us," Trump said. He also accused the old continent of not buying enough US...
Gold rose above $2,800 an ounce in February, holding near a record high amid a wave of monetary policy easing from major central banks as markets assess the impact of the ongoing trade war in North America and China on the global economy. The U.S. imposed 10% tariffs on China and 25% tariffs on Canada and Mexico, with concerns about lower growth weighing on the likelihood of an aggressive Fed reaction that limited the impact on rate-sensitive assets. However, markets are expecting the Fed to deliver two interest rate cuts this year. In turn, the Bank of Canada cut its key interest rate and...
Silver prices were steady at $31 an ounce on Monday, as the dollar surged following the imposition of new U.S. tariffs on major trading partners. Over the weekend, U.S. President Donald Trump imposed 25% tariffs on goods from Mexico and Canada and 10% levies on imports from China, prompting retaliatory measures from affected countries. Markets are now pricing in the rising risks of global trade disruptions, slower economic growth and resurgent inflation, along with expectations of fewer interest rate cuts from the U.S. Federal Reserve. In contrast, the Silver Institute recently forecast a...
Gold (XAU/USD) recovered most of its intraday losses and climbed back near the $2,800 mark during the first half of the European session on Monday (February 3). The safe-haven commodity remained within striking distance of its all-time peaks hit on Friday and continued to find support amid concerns about the potential economic impact of US President Donald Trump's trade tariffs. This, coupled with trade war concerns, dampened investors' appetite for riskier assets, acting as a tailwind for the safe-haven gold price. Further, speculation that Trump's protectionist policies will boost...
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...