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 edged higher on a weaker dollar as traders weighed risks to global trade after President-elect Donald Trump denied reports that he might moderate his broad tariff plans. Bullion traded above $2,640 an ounce, after ending lower in the previous two sessions. Uncertainty about the much-anticipated U.S. move helped lift the 10-year Treasury yield to its highest since May on Monday, while the dollar fell. The precious metal typically faces headwinds from higher yields but support from a weaker U.S. currency. "Gold is seen consolidating in a range, but is likely to trade with a positive...
The U.S. dollar fell on Tuesday, nearing a one-week low following a report that President-elect Donald Trump's tariffs could be less aggressive, while the euro strengthened ahead of key inflation data. At 4:25 a.m. ET (09:25 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.3% lower at 107.775, after falling overnight to its weakest since Dec. 30. Dollar remains weaker The dollar has weakened since the Washington Post published a report on Monday that the new Trump administration is exploring plans to limit tariffs on sectors deemed...
The USD/CHF pair traded on a weaker note around 0.9040 during the early European trading hours on Tuesday (1/7). The US dollar (USD) weakened amid confusion over President-elect Donald Trump's tariff plans. Investors will be watching how aggressive Trump's policies will be once he takes office. On Tuesday, the preliminary reading of the Eurozone Harmonized Index of Consumer Prices (HICP) for December will be released. However, the cautious stance of US Federal Reserve (Fed) officials could help limit the USD's losses. Fed Governor Lisa Cook said on Monday that Fed policymakers could be more...
Silver prices rose above $30 an ounce on Tuesday ( 7/1), hitting a nearly three-week high as the U.S. dollar weakened following reports that the new Trump administration may take a more targeted approach to tariffs. However, President-elect Donald Trump denied the reports, prompting caution among market participants. Looking ahead, investors are focused on key U.S. labor market data this week to assess the outlook for Federal Reserve monetary policy, which could influence the direction of the dollar. Silver is also getting support from a positive economic outlook in China, the world's...
Oil prices fell on Tuesday (7/1), extending losses into a second straight session after rallying last week, although concerns about tighter Russian and Iranian supplies amid expanding Western sanctions kept the decline at bay. Brent crude futures edged down 8 cents, or 0.1%, to $76.22 a barrel by 0452 GMT, while U.S. West Texas Intermediate (WTI) crude fell 15 cents, or 0.19%, to $73.42. Both benchmarks fell on Monday, after rising for five straight days last week and ending at their highest since October on Friday amid expectations of further fiscal stimulus to revitalize China's...
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...