The EU and the U.S. are reportedly nearing a trade agreement that would impose a 15% tariff on most imports, including potentially cars and pharmaceuticals, Bloomberg News reported, citing diplomats. The proposed rate mirrors a similar deal the U.S. reached with Japan. While EU Commission officials briefed member states on the negotiations, any final decision would rest with U.S. President Donald Trump. The 15% tariff would not be added to existing U.S. duties, which average just under 5%. Certain sectors, such as the aircraft, lumber, certain medicines, and agricultural goods, may be...
Gold prices edged up in Asian trade on Tuesday, extending a sluggish performance as investors remained cautious about a rising dollar after the U.S. Federal Reserve's hawkish stance. Traders also refrained from placing big bets ahead of a holiday-shortened trading week. Spot gold edged up 0.2% to $2,617.22 an ounce, while February gold futures edged up 0.1% to $2,631.89 an ounce by 9:46 p.m. ET (0246 GMT). The yellow metal edged up 0.3% on Monday, after falling more than 1% in the previous week, reflecting uncertainty about the metal's outlook. Source: Investing.com
WTI crude oil futures climbed to around $69.5 per barrel on Tuesday, reversing losses from the previous session amid thin pre-holiday trading. Oil found support after fresh US data indicated that the economy of the key consumer remained strong heading into the year-end. Additionally, India's crude oil imports increased 2.6% year-on-year to 19.07 million metric tons in November, driven by strong demand amid rising economic and travel activity. However, concerns about potential oversupply next year kept prices under pressure. European supply fears also eased after reports that the Druzhba...
Gold rose above $2,610 per ounce on Tuesday amid subdued holiday-season trading. Investors continued to assess the Federal Reserve's outlook for next year, factoring in a slower pace of rate hikes in 2025 after the Fed signaled fewer reductions. However, this view was challenged by softer-than-expected US PCE inflation, suggesting the possibility of more rate cuts, which benefits a non-yielding gold. Meanwhile, the World Gold Council reported strong central bank demand, reinforcing gold's status as a safe-haven asset, with central banks as net buyers for over 15 years. The metal is on...
The US Dollar Index (DXY) rose slightly on Monday, continuing to battle the 108.00 handle as investor confidence took a step back to kick off the holiday trading week. The DXY is still holding onto territory near recent highs, with the Greenback index closing in the green for all but three of the last 11 trading sessions. Monday's gain of around one quarter of one percent leaves bids on the high end of last week's late pullback, but price action is still capped below that Friday's peak of 108.50.(Cay) Newsmaker23 Source: Fxstreet
Gold eases as U.S. dollar, yields rise in thin holiday tradingGold prices edged lower in a subdued holiday-season trading on Monday, weighed down by a robust dollar and high U.S. Treasury yields as investors awaited clearer signals on the Federal Reserve's monetary policy for 2025. Spot gold was down 0.3% at $2,612.58 per ounce. U.S. gold futures eased 0.7% to $2,627.60. The dollar index was up 0.6% against its rivals, hovering around an over two-year high, reducing gold's appeal for holders of other currencies, while the benchmark U.S. 10-year yield also gained. "The market continues to...
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...
The EU and the U.S. are reportedly nearing a trade agreement that would impose a 15% tariff on most imports, including potentially cars and pharmaceuticals, Bloomberg News reported, citing...