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 opened the New Year steady after notching its biggest annual gain since 2010, with traders assessing prospects for a slower pace of monetary easing by the Federal Reserve in 2025. Bullion was trading near $2,625 an ounce following its 27% gain in 2024, which was driven by the Fed's cutting cycle, sustained haven demand and a wave of purchases by central banks. Investors are now focused on the interest-rate path in the US, after Chair Jerome Powell last month signaled greater caution over how quickly the central bank can continue reducing borrowing costs amid renewed...
Oil was steady in the first session of the new year after an industry report indicated shrinking US crude stockpiles. West Texas Intermediate traded near $72 a barrel, while Brent closed below $75 on Tuesday. Nationwide inventories dropped by 1.4 million barrels last week, the American Petroleum Institute reported, according to a document seen by Bloomberg. If confirmed by government figures later Thursday, it would be a sixth straight weekly draw. Oil has been stuck in a narrow range since mid-October, with WTI ending 2024 little changed and Brent posting a modest...
Oil prices were on track to end 2024 with a second consecutive year of losses on Tuesday, but were steady on the day as data showing an expansion in Chinese manufacturing was balanced by Nigeria targeting higher output next year. Brent crude futures fell by 7 cents, or 0.09%, to $73.92 a barrel. U.S. West Texas Intermediate crude lost 4 cents, or 0.06%, to $70.95 a barrel. At those levels, Brent was down around 4% from its final 2023 close price of $77.04, while WTI was down around 1% from where it settled on Dec. 29 last year at $71.65. In September, Brent futures closed below $70 a...
Gold prices were set to end a record-breaking year on a positive note on Tuesday as robust central bank buying, geopolitical uncertainties and monetary policy easing fuelled the safe-haven metal's strongest annual performance since 2010. Spot gold rose 0.4% to $2,615.00 per ounce, while U.S. gold futures gained 0.4% to $2,627.30. As one of the best-performing assets of 2024, bullion has gained more than 26% year-to-date, the biggest annual jump since 2010, and last scaled a record high of $2,790.15 on Oct. 31 after a series of record-breaking rallies throughout the year. "Rising...
Brent crude rose to $74.50 a barrel on Tuesday, extending gains for a third straight session, boosted by signs of economic recovery in China, the world's largest crude importer. Chinese factory activity expanded for a third month, boosted by recent stimulus measures. However, despite the current momentum, Brent is on track for a slight annual loss after months of trading in a narrow range. Looking ahead, the market faces significant uncertainties, including the risk of oversupply, geopolitical tensions and potential changes in oil policy under the incoming Trump administration. Source:...
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...