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 agreement includes a $350 billion commitment from South Korea toward US-owned and controlled investments. Key quotes The United States and South Korea have reached a full and complete trade deal. South Korea will provide $350 billion for U.S.-owned and controlled investments, selected by the U.S. President. South Korea will purchase $100 billion in LNG or other energy products from the U.S. An...
WTI crude futures were fluctuating around $74.8 a barrel on Monday as markets reacted to the Trump administration's trade policy shift. The U.S. initially threatened tariffs on Colombia over a migrant dispute but stopped short of doing so after Bogotá agreed to President Trump's terms. The move follows a series of global trade actions targeting China, Canada, Mexico and the EU, alongside calls for OPEC to lower oil prices. Trump has argued that lower oil prices could hurt Russia's revenues and curb its actions in Ukraine. Meanwhile, signs of slowing economic activity in China, the world's...
USD/JPY edged lower, tracking lower UST yields while the BoJ MPC (last Friday) signaled continued policy normalization. The currency pair was last seen at 154.05, OCBC FX analysts Frances Cheung and Christopher Wong noted. "Japanese economic data supports BoJ policy normalization. Wage growth pressures remain intact, along with broadening services inflation. Tokyo core CPI, PPI, wages rose while labor market reports also showed upward wage pressure with the unemployment rate easing, while unions called for another 5-6% wage hike in the shunto wage negotiations for 2025." "We still expect...
This weekend the US successfully used the threat of tariffs on Colombia to secure its policy objective of deporting illegal immigrants. The use of tariffs as a policy lever now appears well understood by the market and may be worth it to reduce marginal volatility, notes ING FX analyst Chris Turner. "FX markets are still operating on the potential 1 February deadline for tariffs on Mexico, Canada and China – and that should prevent the dollar from correcting too much this week. Instead, focus may shift back to the macro side given a slew of central bank rate meetings, Q4 GDP data and some...
Gold (XAU/USD) recovered most of its intraday losses and traded with a mild negative bias, around the $2,760 area during the first half of the European session on Monday (1/27). US President Donald Trump's decision to impose tariffs on all imports from Colombia revived trade war fears and triggered a fresh wave of global risk-off trade. Additionally, falling US Treasury bond yields, amid bets that the Federal Reserve (Fed) will cut interest rates twice this year, provided additional support to the non-yielding yellow metal. That said, a decent recovery in the US Dollar (USD) from over...
EUR/USD corrected near 1.0450 in the European session on Monday (1/27) after hitting a six-week high near 1.0520 on Friday. The major currency pair faced pressure as the US Dollar (USD) started the week on a positive note amid risk-averse market sentiment. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, attempted to recover from last week's losses and surged near 107.75. The US Dollar's safe-haven appeal has been boosted as US President Donald Trump's tariff concerns have returned. Trump imposed a 25% tariff on South American trading partner...
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...
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...