European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
Gold (XAU/USD) price traded with slight losses near $2,690 against the broadly stronger US Dollar (USD) during the early Asian session on Monday (13/1). However, safe-haven demand due to uncertainty surrounding the policies of President-elect Donald Trump's administration could help limit Gold's decline. A stronger-than-expected US employment data on Friday reinforced expectations that the US Federal Reserve (Fed) may not cut interest rates aggressively this year. This, in turn, weighed on non-yielding assets. Traders expect the Fed to cut interest rates by only 30 basis points (bps) this...
The AUD/USD pair held steady around 0.6145 during the early Asian session on Monday. The US jobs growth came in stronger than expected in December, supporting the US Dollar (USD) across the board. The data released by the US Bureau of Labor Statistics (BLS) on Friday showed that Nonfarm Payrolls (NFP) rose by 256K in December, compared to an increase of 212K (revised from 227K) seen in November. This reading beat the market expectation of 160K by a wide margin. Meanwhile, the Unemployment Rate fell to 4.1% in December from 4.2% in November. Lastly, annual wage inflation, as measured by the...
WTI crude oil futures advanced 3.6% to settle at $76.57 per barrel on Friday, levels not seen since October, as fresh U.S. sanctions on Russia's oil sector, sparked concerns about global supply disruptions. The U.S. Treasury's sanctions target Russian oil producers Gazprom Neft and Surgutneftegas, as well as over 180 vessels, oil traders, and energy officials, aiming to restrict Russia's oil trade and escalate geopolitical risks. Additionally, colder U.S. weather has heightened demand for heating fuels, further supporting oil prices. Analysts from Goldman Sachs and UBS predict that supply...
The U.S. dollar rallied on Friday after data showed the world's largest economy created more jobs than expected last month, reinforcing expectations that the Federal Reserve will pause its rate-cutting cycle at its policy meeting later this month. The greenback also extended gains following a report that showed U.S. consumer inflation expectations for the next year and beyond jumped in January. The dollar rose to its highest since July against the yen after the data, before turning lower on the day. It was last down 0.1% at 157.845 yen . The euro, on the other hand, dropped to its lowest...
Gold price rebounded off daily lows on Friday, extending its rally for the fourth consecutive day as traders shrugged off a strong United States (US) Nonfarm Payrolls report. This tempered the Federal Reserve's (Fed) concerns about the labor market, but not so much inflation as some officials acknowledged. The XAU/USD trades at $2,687, up 0.69%. Bullion fell sharply after the US Bureau of Labor Statistics (BLS) revealed that the economy added an outstanding number of people to the workforce, topping 200K. As a consequence, the Unemployment Rate dipped, while investors priced in fewer...
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...
President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...