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 prices rose on Wednesday as supplies from Russia and OPEC members tightened, while data showing an unexpected increase in U.S. jobs openings pointed to expanding economic activity and consequent growth in oil demand. Brent crude was up 32 cents, or 0.42%, to $77.37 a barrel at 0135 GMT. U.S. West Texas Intermediate crude rose 42 cents, or 0.57%, to $74.67. Oil output from the Organization of the Petroleum Exporting Countries fell in December after two months of increase, a Reuters survey showed. Field maintenance in the United Arab Emirates offset a Nigerian output hike and gains...
The Japanese yen fell past 158 per dollar on Tuesday, marking its lowest point in more than five months and prompting fresh verbal intervention from a top Japanese official. Finance Minister Katsunobu Kato reiterated his warning against speculative and unilateral currency moves, signaling the government's readiness to take action if excessive volatility persists. The comments came as the yen weakened toward the 160 per dollar level, which had previously prompted intervention six months ago. The yen has come under pressure recently amid growing uncertainty over the timing of an interest...
Oil prices settled higher on Tuesday, driven by concerns over limited supply from Russia and Iran because of Western sanctions and expected higher Chinese demand. Brent crude futures settled at $77.05 a barrel, up 75 cents, or 0.98%. U.S. West Texas Intermediate (WTI) crude finished at $74.25 a barrel, up 69 cents, 0.94%. Traders were looking to the Chinese stimulus plans to drive growth as supplies are tight following the Christmas and New Year's holidays, said Forex market analyst Razan Hilal. Concern over sanctions tightening supply has translated into increased demand for Middle...
Gold prices trimmed earlier gains, trading below $2,650 per ounce on Tuesday after a 1% rise earlier in the session. The strengthening dollar and rising Treasury yields pressured gold as U.S. job openings indicated lower chances of significant rate cuts by the Federal Reserve. Stronger-than-expected job openings and solid services sector data pointed to a resilient economy, likely keeping the Fed cautious about easing rates. The dollar rebounded from a one-week low, further weighing on gold, which typically benefits from lower interest rates. Investor concerns that proposed U.S. tariffs...
Oil prices edged lower on Tuesday as optimism over demand faded, although tighter Russian and Iranian supplies driven by expanded Western sanctions curbed losses. Brent crude futures were down 25 cents, or 0.33%, at $76.05 a barrel by 0950 GMT, while U.S. West Texas Intermediate (WTI) crude was down 44 cents, or 0.60%, at $73.12. Both benchmarks fell on Monday, after rising for five straight days last week and ending at their highest levels since October on Friday amid expectations of more fiscal stimulus to revitalize China's faltering economy. "This week's weakness is likely a technical...
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...