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 prices hit a near four-week high on Wednesday after a weaker-than-expected private employment report for December provided reassurance for some in the market the U.S. Federal Reserve may be less cautious about easing rates this year. Spot gold rose 0.3% to $2,657.38 per ounce, as of 02:15 p.m. ET (1915 GMT) and hit its highest since Dec. 13. U.S. gold futures settled 0.3% higher at $2,672.40. Weaker private payrolls "is contributing to gold's move, because ultimately, weaker employment numbers imply that the economy has been weaker than many had expected," said Bart Melek, head of...
The U.S. dollar strengthened on Wednesday, benefiting from rising bond yields after the release of healthy U.S. economic data, while weak German industrial orders weighed on the euro. At 4:35 AM ET (09:35 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.3% higher at 108.690. Dollar strengthens on rising Treasury yields The dollar continued to strengthen on Wednesday, following the previous session's positive tone after data showed U.S. job openings rose unexpectedly in November, layoffs were low, while service sector activity...
Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened while data showing an unexpected rise in U.S. job openings pointed to expanding economic activity and growing demand for oil as a result. Brent crude rose 37 cents, or 0.5%, to $77.42 a barrel by 0730 GMT. U.S. West Texas Intermediate crude rose 44 cents, or 0.6%, to $74.69. Oil output from the Organization of the Petroleum Exporting Countries fell in December after two months of increases, a Reuters survey showed. Field maintenance in the United Arab Emirates offset a rise in Nigerian output and increases...
Gold (XAU/USD) prices held on to modest intraday gains through the first half of the European session on Wednesday, albeit lacked bullish conviction and remained below the $2,665 resistance zone retested the previous day. Uncertainty surrounding US President-elect Donald Trump's tariff plans, trade war fears, geopolitical tensions, and softer risk tone turned out to be key factors that acted as a tailwind for the safe-haven bullion. However, the Federal Reserve's (Fed) hawkish shift, which kept the US Treasury bond yields elevated near multi-month tops, along with the emergence of some...
Gold (XAU/USD) prices attracted some dip-buying following the previous day's decline from the $2,665 resistance zone, albeit lacked any follow-through or bullish conviction. The US Dollar (USD) bulls turned cautious and preferred to wait for the release of the FOMC Meeting Minutes before placing fresh bets. Additionally, uncertainty surrounding US President-elect Donald Trump's tariff plans, trade war fears, geopolitical tensions, and a softer risk tone turned out to be key factors that acted as a tailwind for the safe-haven bullion. Meanwhile, the Federal Reserve's (Fed) hawkish signal...
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...