U.S. President Donald Trump said on Wednesday that Canadian Prime Minister Mark Carney reached out ahead of an August 1 tariff deadline, but no conversations between the two took place. Trump has warned that any country that does not strike a deal with the U.S. before Friday will be subjected to higher tariffs imposed on goods, which for Canada could mean a 35% rate on all products not covered by the U.S.-Mexico-Canada trade agreement. "We haven't spoken to Canada today. He's (Carney) called and we'll, we'll see," Trump told reporters during an event at the White House. Carney's office...
West Texas Intermediate (WTI) crude prices continued to decline for a second straight session, trading around $72.20 a barrel during early European hours on Thursday (1/30). Investors remained cautious as uncertainty looms over US trade policy, following conflicting statements from the White House regarding President Donald Trump's proposed tariffs on Canada and Mexico—two of the United States' main crude suppliers. White House spokeswoman Karoline Leavitt confirmed on Tuesday that Trump remains committed to imposing tariffs on Canada and Mexico as planned on Saturday. On Wednesday, Trump's...
The Australian Dollar (AUD) continued its decline against the US Dollar (USD) for the fourth straight day on Thursday (30/1). However, the AUD/USD pair strengthened after the release of the Export Price Index. Data from the Australian Bureau of Statistics showed export prices rose by 3.6% quarter-on-quarter in Q4 2024, reversing a 4.3% decline in Q3 and marking the first increase since Q4 2023. The Australian Import Price Index rose by 0.2% QoQ in Q4 2024, bouncing back from a 1.4% decline in Q3 and beating market expectations of a 1.5% decline. The rise was mainly driven by surging Gold...
The GBP/USD pair is trading with modest gains around 1.2445 during the early European trading hours on Thursday (1/30). A modest pullback in the greenback is providing some support to the major currency pair. Investors will be looking closely at the US Gross Domestic Product (GDP) data for the fourth quarter (Q4), due on Thursday. In addition, weekly Initial Jobless Claims and Pending Home Sales will be published. According to the daily chart, the bearish outlook for GBP/USD remains intact, with the price holding below the important 100-day Exponential Moving Average (EMA). However, the...
Gold price (XAU/USD) oscillates in a narrow band near the top end of its weekly range during the Asian session on Thursday and remains close to a multi-month peak touched last week. A fresh leg down in the US Treasury bond yields is seen as a key factor acting as a tailwind for the commodity. Apart from this, concerns about the potential economic fallout from US President Donald Trump's tariff plans further benefit the safe-haven precious metal. Meanwhile, Trump's demand for lower interest rates and signs of abating inflation in the US support the prospect for further policy easing by the...
Silver price (XAG/USD) extends its winning streak for the third consecutive session, trading around $30.90 per troy ounce during Asian trading hours on Thursday. The precious metal holds its gains amid dovish signals from major central banks. The Bank of Canada (BoC) has ended its quantitative tightening and joined Sweden's Riksbank in delivering a rate cut. Meanwhile, the European Central Bank (ECB) is also expected to lower rates this week, while the Reserve Bank of India (RBI) and the People's Bank of China (PBoC) have signaled potential rate cuts ahead. In the United States (US), the...
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...
US President Donald Trump announced a new trade deal with South Korea, stating that the United States (US) would charge a 15% tariff on imports from South Korea, Reuters reported on Wednesday. The...