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,...
Oil advanced, with traders weighing short-term supply risks against further signs of Chinese economic weakness. West Texas Intermediate rose 0.8% to settle near $74 a barrel, tacking on its seventh gain in the last nine sessions. Oil prices fell more than 1% on Wednesday after futures failed to breach a key technical level. Crude's strong start to 2025 has been supported by continued US inventory drawdowns and potential risks to Iranian supply in a second Donald Trump presidency. Cold weather is expected to boost demand for heating fuels this month, and Russia's seaborne crude exports...
Oil prices rose slightly on Thursday as investors factored in firm winter fuel demand expectations despite large U.S. fuel inventories and macroeconomic concerns. Brent crude futures were up 35 cents, or 0.5%, at $76.51 a barrel by 1246 GMT. U.S. West Texas Intermediate crude futures gained 30 cents, or 0.4%, to $73.62. Both benchmarks fell more than 1% on Wednesday as a stronger dollar and a bigger than expected rise in U.S. fuel stockpiles pressured prices. Nevertheless, official Energy Information Administration (EIA) data showed rising gasoline and distillates stockpiles in the United...
Gold's price (XAU/USD) turns higher again and enters into a third straight day of gains, after breaking and closing above the 55-day Simple Moving Average (SMA) at $2,654 the previous day. The move comes as yields across the globe start to surge due to inflation concerns. Traders are getting worried that inflation could peak again with all the stimulus plans, fiscal reforms, and tariff levies that President-elect Donald Trump has announced in the past few days and weeks. On the economic data front, this Thursday, all eyes are on the Federal Reserve (Fed), which has a slew of policymakers...
EUR/USD moved lower below 1.0300 but remained within Wednesday's trading range in the European session on Thursday. The major currency pair faced pressure as the US Dollar (USD) moved higher, with the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, aiming to revisit a two-year high of 109.53. The US Dollar strengthened as the Federal Open Market Committee (FOMC) minutes for its December policy meeting suggested that policymakers were cautious about further policy easing as progress in the disinflationary trend has stalled. Source: FXStreet
Silver (XAG/USD) price continues its uptrend, extending the winning streak that began on January 1. The grey metal was trading around $30.20 per troy ounce during European hours on Thursday (9/1). A closer look at the daily chart shows a developing bullish bias, with the XAG/USD pair pushing higher along the nine- and 14-day Exponential Moving Averages (EMAs), indicating strong near-term price momentum. The 14-day Relative Strength Index (RSI) has also risen above the 50 level, strengthening the bullish sentiment. Further upside in Silver price could indicate developing bullish momentum....
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...