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 up on Friday on a softer U.S. dollar and safe haven flows, with the metal en-route for a weekly gain as attention turned to U.S. President-elect Donald Trump's proposed policy changes that could influence the economic and interest rate outlook going forward. Spot gold was up 0.2% at $2,661.19 per ounce, as of 0257 GMT, hitting its highest level since Dec. 13. Bullion is up about 1.6% for the week so far. U.S. gold futures rose 0.2% to $2,675.40. The dollar index DXY fell 0.2%, making dollar-priced bullion more affordable for holders of other currencies. "We have seen an...
Gold was on track for its biggest weekly gain since November, as broad risk-off sentiment buoyed demand for haven assets. Bullion was trading near $2,660 an ounce after climbing 1.3% on Thursday, with investors monitoring increasing concerns over near-term volatility in stock markets. The Cboe's VIX Index climbed for the fourth time in five days, helping to underscore the appeal of safe assets such as gold. Meanwhile, a pair of deadly attacks in the US this week further compounded market angst, sparking domestic security concerns ahead of Donald Trump's official return...
Oil headed for a second weekly gain as US crude stockpiles continued to fall and as futures breached a key technical threshold. West Texas Intermediate traded above $73 a barrel after rising 2% on Thursday to the highest level since mid-October. Brent closed near $76. US nationwide inventories dropped for a sixth straight week, and stockpiles remain well below the five-year seasonal average. Oil has broken out of a narrow range it's been trading in since the mid-October, with a move by both benchmarks above their 100-day moving average leading to algorithmic buying. The outlook...
The USD/CHF pair continues to decline from its seven-month high of 0.9080, as the US Dollar Index (DXY) hovers near 108.30 after retreating from a multi-year high of 108.58 reached on Tuesday. During European trading hours on Thursday, the USD/CHF pair trades around 0.9050.Traders will likely observe the US weekly Initial Jobless Claims and S&P Global Manufacturing PMI for December, scheduled to be released later in the North American session.However, the downside of the US Dollar could be limited by growing expectations that the US Federal Reserve (Fed) will adopt a slow and cautious...
Gold (XAU/USD) prices extended intraday gains near $2,650 in the North American open on Thursday after the New Year holiday. The precious metal gained as its appeal as a safe-haven asset increased, with investors focused on President-elect Donald Trump taking office on January 20. Trump's expected incoming policies, such as higher import tariffs and lower taxes, would be a boon for Gold. Higher import tariffs would lead to a potential global trade war and lower taxes would increase inflationary pressures in the United States (US). Gold tends to outperform amid economic uncertainty as a...
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...