The United States and the European Union agreed on a framework trade deal to end months of uncertainty for industries and consumers. The two sides aim to produce a joint statement to clarify what they have agreed to, but here are the main elements of the deal that will enter into force on August 1 through an executive order by President Donald Trump, according to EU officials: * BASELINE TARIFF RATE: Almost all EU goods entering the U.S. will be subject to a 15% baseline tariff. The 15% tariff is not added to any existing rates. * CARS: Cars and car parts will be subject to the 15%...
Gold (XAU/USD) prices struggled to capitalize on their intraday uptick and flat-lined above the $2,700 mark during the first half of the European session on Monday (January 20). The risk-on environment as depicted by a generally positive tone around equity markets turned out to be a key factor that acted as a headwind for the safe-haven precious metal. Traders also seemed reluctant to place any aggressive bets and preferred to wait for US President-elect Donald Trump's inauguration speech later today. Meanwhile, signs of easing inflation in the US fuelled speculations that the Federal...
The Australian Dollar (AUD) halted its two-day losing streak against the US Dollar (USD) on Monday (1/20), receiving support from rising metal prices. However, the upside in the AUD/USD pair may remain limited as the US Dollar (USD) could strengthen amid market caution ahead of President-elect Donald Trump's inauguration later in the day. US markets will remain closed on Monday for the Martin Luther King Jr. holiday. The People's Bank of China (PBOC) announced on Monday that it will keep the Loan Prime Rate (LPR) unchanged. The one-year Loan Prime Rate (LPR) remains at 3.10%, while the...
The USD/CHF pair moved lower near 0.9130 during the Asian trading hours on Monday (1/20), pressured by a weaker US Dollar (USD). Cautious market sentiment ahead of the inauguration of President Donald Trump provided some support to the safe-haven flows, which benefited the Swiss Franc (CHF). Technically, USD/CHF maintains the current bullish sentiment as the price is well supported above the 100-day Exponential Moving Average (EMA) on the daily chart. Moreover, the upside momentum is supported by the 14-day Relative Strength Index (RSI), which is located above the midline near 60.50,...
Gold (XAU/USD) attracted some dip buyers near the $2,689 region during the Asian session on Monday (20/1) and for now, seems to have stalled its retracement slide from one-month tops touched last week. The US dollar (USD) started the new week on a weaker note and eroded part of Friday's positive move amid bets that the Federal Reserve (Fed) will cut interest rates twice this year amid signs of easing inflation in the US. This, coupled with uncertainty over US President-elect Donald Trump's tariff plans, lifted the safe-haven precious metal back above the $2,700 mark in the last...
Silver (XAG/USD) prices extended their decline for the second straight session, trading around $30.30 an ounce during Asian trading hours on Monday (1/20). The safe-haven metal is facing challenges amid easing tensions in the Middle East. On Sunday, Hamas and Israel exchanged hostages and prisoners, marking the first day of a ceasefire after 15 months of conflict. Hamas released three female hostages in exchange for 90 Palestinians imprisoned in Israel, according to Bloomberg. In return, for the three Israeli hostages released, Hamas agreed to release 90 prisoners and detainees, all of whom...
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 European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of their ongoing trade deal, EU Trade Commissioner...