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,...
EUR/USD continued its uptrend for the third straight session, trading around 1.0400 during Asian hours on Tuesday (7/1). The EUR/USD pair's uptrend was attributed to a weaker US Dollar (USD). Later in the day, the US ISM Services Purchasing Managers' Index (PMI) will be released. On Wednesday, the market will focus on the Minutes of the Federal Reserve's (Fed) December policy meeting. The US Dollar Index (DXY), which tracks the USD against a basket of six major currencies, remained under pressure for the third straight session, trading near 108.20 at the time of writing. However, the...
Gold (XAU/USD) prices moved higher during the Asian session on Tuesday and seemed to build on overnight gains from the $2,615-$2,614 area, despite lacking bullish conviction. Expectations that US President-elect Donald Trump's proposed tariffs and protectionist policies could reignite inflation seemed to benefit the commodity's status as a hedge against rising prices. Moreover, persistent geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East supported the safe haven precious metal. Meanwhile, prospects of a slower pace of interest rate cuts by...
Oil prices extended losses into a second straight session on Tuesday on a technical correction after last week's rally, while expectations of abundant supplies and a strong dollar also weighed. Brent crude futures were down 28 cents, or 0.37%, at $76.02 a barrel by 0148 GMT, while U.S. West Texas Intermediate (WTI) crude was down 33 cents, or 0.45%, at $73.23. Both benchmarks rose for five straight days last week and ended at their highest levels since October on Friday, partly on expectations of more fiscal stimulus to revitalize China's faltering economy.(AL) Source: Investing.Com
Oil prices edged lower in Asian trade on Tuesday, extending losses from the previous session as weak U.S. and European economic data raised some questions about the demand outlook. But prices remained near three-month highs, boosted by bets that cold weather in the U.S. and Europe will help boost near-term demand. Hopes for more stimulus measures in top oil importer China also continued to factor into prices, with focus shifting to upcoming inflation data from the country this week. Brent crude for March delivery fell 0.3% to $76.08 a barrel, while West Texas Intermediate crude fell 0.4%...
The EUR/USD pair weakened near 1.0380 on Tuesday (1/7) during Asian trading hours. The greenback moved higher after President-elect Donald Trump said that his tariff policies will not be reduced. Traders are gearing up for the preliminary Eurozone Harmonized Consumer Price Index (HICP) and the US ISM Services Purchasing Managers' Index (PMI) for December, due on Tuesday. Trump denied a Washington Post report that his aides were considering narrowing his tariff plans to only apply to a limited number of essential imports. Traders will be closely monitoring developments surrounding Trump'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...