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 edges lower in the early morning Asian session, weighed by higher Treasury yields. "Stronger-than-expected U.S. labor data last week dampened expectations for a near-term rate cut from the Fed," Traze's Erkin Kamran says in an email. The 10-year Treasury yield remains elevated, boosting the opportunity cost of holding nonyielding assets like gold, Kamran says. Meanwhile, market participants could stay cautious ahead of FOMC minutes due out later today, Kamran adds. Spot gold is 0.1% lower at $3,297.76/oz. Source: Dow Jones Newswires
Oil steadied as traders weighed signs of swelling US crude stockpiles and the fallout from President Donald Trump's tariff regime. West Texas Intermediate held near $68 a barrel after a two-day gain. Brent closed above $70 on Tuesday. US inventories rose by 7.1 million barrels last week, according to the American Petroleum Institute. That would be the largest increase since January if confirmed by government data on Wednesday. Investors continue to monitor US trade policy and any impact on demand, with Trump vowing to push ahead with his tariff agenda in coming...
GBP/USD fluctuates near 1.3600 as markets grapple with inconsistent policy messages regarding President Donald Trump's erratic tariff policies. The reciprocal tariffs announced and immediately postponed in early April have been pushed back from July 9 to August 1, and within 24 hours, President Trump announced that further delays or suspensions of the tariffs could and should not be expected. Adding further fuel to the tariff fire, President Trump announced a new 50% tariff on all copper imports into the US, which he confirmed would take effect "today" on Tuesday. Trump also reiterated...
EUR/USD posted modest gains during the North American session as the US dollar erased some of its earlier gains, following US President Donald Trump's demand for the Federal Reserve to cut interest rates, as he pushed back the July 9 deadline to August 1. At the time of writing, the pair was trading at 1.1724, up 0.14%. Risk appetite soured late in the day, amid uncertainty over trade policy. US Commerce Secretary Howard Lutnick said he expected 15-20 more letters to be sent in the next few days, according to an interview with CNBC. Meanwhile, Trump's threat to expand tariffs on...
Brent crude rose 0.8% to settle at $70.1 a barrel on Tuesday, hitting a two-week high, as investors weighed the impact of new U.S. tariffs and a larger-than-expected OPEC+ output increase in August. President Trump's announcement of tariffs on 14 countries raised concerns about global economic growth and oil demand, although tightening production of middle distillates and ongoing Houthi attacks on cargo ships provided support to prices. OPEC+ agreed on Saturday to raise output by 548,000 barrels per day in August, a fourth straight monthly increase and larger than analysts had...
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...