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,...
Silver prices held above $30.10 an ounce on Wednesday, near their highest level in more than three weeks despite pressure from a stronger dollar and rising Treasury yields. The move came as strong U.S. economic data reduced the likelihood of further interest rate cuts by the Federal Reserve. Silver, along with other safe-haven assets, has also benefited from uncertainty ahead of U.S. President-elect Donald Trump's inauguration on Jan. 20 and confusion over his tariff plans. Silver has also drawn support from hopes that China, the world's top consumer of the metal, will follow through on...
The dollar index held its recent advance to above 108.5 on Wednesday, supported by higher Treasury yields as strong US economic data diminished the likelihood of further Federal Reserve interest rate cuts. Growth in the US services sector accelerated in December, boosting business activity and pushing prices to their highest levels since early 2023. Job openings also rose by 259,000 to 8.098 million in November, surpassing expectations and reaching a six-month high. Investors are now focused on Friday's monthly jobs report, one of the last major data releases before the Fed's upcoming...
Gold price (XAU/USD) stabilizes following the previous day's late pullback from the $2,665 hurdle as traders opt to move to the sidelines ahead of Wednesday's release of the FOMC Minutes later during the US session. In the meantime, the prospects for slower rate cuts by the Federal Reserve (Fed) continue to push the US Treasury bond yields higher and act as a headwind for the non-yielding yellow metal. Apart from this, the underlying strong US Dollar (USD) bullish tone turns out to be another factor that contributes to capping the commodity. The downside for the Gold price, however, remains...
The Australian dollar (AUD) remained weak for the second straight session against the US dollar (USD), with the AUD/USD pair losing ground despite stronger-than-expected monthly inflation data released on Wednesday (8/1). However, the trimmed mean, a closely watched measure of core inflation, fell to 3.2% year-on-year from 3.5%, closer to the Reserve Bank of Australia's (RBA) target range of 2% to 3%. Traders are currently pricing in a 55% probability that the RBA will cut the cash rate by 25 basis points to 4.35% in February, with a full quarter-point cut expected in April. Australia's...
The Japanese Yen (JPY) languishes near a six-month low against its American counterpart and seems vulnerable to prolonging a one-month-old downtrend amid uncertainty about the timing of the next rate hike by the Bank of Japan (BoJ). Adding to this, the recent widening of the US-Japan yield differential, bolstered by reduced bets for further rate cuts by the Federal Reserve (Fed), validates the near-term negative outlook for the lower-yielding JPY. That said, a combination of factors might hold back the JPY bears from placing fresh bets. Japan's Finance Minister Katsunobu Kato weighed in...
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...