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,...
The US Dollar (USD) strengthened to start the new year as trading conditions returned to normal after the holiday season. The US economic calendar will feature the ISM Manufacturing Purchasing Managers' Index (PMI) data for December later in the day. Investors will also be looking for comments from central bank officials. The USD Index rose more than 0.7% on Thursday and hit its highest level since November 2022 above 109.50. On Friday morning, the index retreated towards 109.00. The risk-averse market mood helped the USD outperform its rivals on the first trading day of the...
The EUR/USD pair halted its four-day losing streak, trading near 1.0270 during the Asian session on Friday. A review of the daily chart shows a persistent bearish bias, with the pair moving down within a descending channel pattern. The 14-day Relative Strength Index (RSI), a key momentum indicator, is hovering near the 30 level, indicating oversold conditions and a possible upside correction in the near term. However, the nine-day Exponential Moving Average (EMA) remains below the 14-day EMA, signaling weaker near-term price momentum and reinforcing the overall bearish sentiment. The...
Silver price (XAG/USD) extends its gains for the third successive day, trading around $29.60 per troy ounce during the Asian hours on Friday. This sustained rally is attributed to strong safe-haven demand amid persistent geopolitical tensions in the Middle East and the prolonged Russia-Ukraine conflict. Axios referenced three sources, indicating that US President Joe Biden reportedly explored contingency plans to target Iran's nuclear facilities if Tehran advanced significantly in developing a nuclear bomb before Donald Trump's inauguration on January 20. These talks underscore the growing...
The Australian Dollar (AUD) extends its gains for the second successive session against the US Dollar (USD) on Friday. The AUD gained support following a Financial Times report stating that the People's Bank of China (PBoC) expects an interest rate cut this year at an appropriate time. As close trade partners, any fluctuations in China's economy tend to impact Australian markets. The AUD/USD pair appreciates as the Australian Dollar recovers from two-year lows as stronger commodity prices provide support, particularly Oil and Gold, benefiting Australia's position as a major exporter of...
A gauge of the dollar weakened for the first time in eight sessions before ISM manufacturing data that's likely to provide more clues on the health of the US economy. Bloomberg Dollar Spot Index slipped 0.1%, with Australia and New Zealand's currencies leading gains against the greenback. "Dollar is getting marginally sold in thin trading as traders try not to over-read markets ahead of ISM," said Christopher Wong, strategist at Oversea-Chinese Banking Corp. "Apart from the small selloff this morning, the dollar remains broadly firmer, with the DXY above 109...
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...