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,...
EUR/USD is trading quietly around 1.0300 during the European session on Friday. The major currency pair is trading cautiously as investors await the United States (US) Nonfarm Payrolls (NFP) data for December, due to be published at 13:30 GMT. Investors will be watching the official US jobs report as it will influence market expectations about when the Federal Reserve (Fed) will deliver its first interest rate cut this year. Economists expect 160,000 new workers to be added to the labor force in December, down from 227,000 in November. The Unemployment Rate is expected to remain steady at...
Gold (XAU/USD) prices extended its uptrend for the fourth straight day and climbed to four-week tops, around $2,678-$2,679 area during the early European session on Friday. Ongoing geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East, along with fears of a trade war and a generally softer risk tone, turned out to be key factors supporting the precious metal as a safe-haven. Further, expectations that Trump's expansionary policies will boost inflation further benefitted the precious metal's status as a hedge against rising prices. Source: FXStreet
The Australian Dollar (AUD) extends its losses for the fourth consecutive day against the US Dollar (USD), with the AUD/USD pair hovering near two-year lows on Friday. The AUD receives downward pressure as the ANZ is now forecasting a 25 basis points (bps) rate cut by the Reserve Bank of Australia (RBA) in February. Traders are now focused on US labor market data including Nonfarm Payrolls (NFP), for additional policy direction insights. The AUD found no support from China's latest inflation data, which highlighted increasing deflationary risks. China's Consumer Price Index (CPI) increased...
The Japanese Yen (JPY) ticks higher in reaction to comments from Japan's Economy Minister Ryosei Akazawa during the Asian session on Friday, albeit it lacks bullish conviction amid the Bank of Japan (BoJ) rate hike uncertainty. Data released earlier today showed that real household spending in Japan fell for the fourth month in November and pointed to an economic fragility. This gives the BoJ another reason to be cautious about raising interest rate hikes further, which might continue to undermine the JPY. Furthermore, the US-Japan bond yield differentials have widened significantly over...
ilver price (XAG/USD) continues its rally after registering little losses in the previous session, trading around $30.20 per troy ounce during the Asian hours on Friday. Traders are now focused on US labor market data including Nonfarm Payrolls (NFP), for additional insights into the Federal Reserve's policy direction.The precious Silver, often considered a safe-haven asset, gains support amid uncertainty surrounding inflation and potential tariffs under President-elect Trump's administration, as highlighted by the US Federal Reserve (Fed). However, the upside of the non-yielding metal...
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...