US President Donald Trump announced that a 19% tariff will be imposed on goods from the Philippines, following trade talks prompted by Filipino President Ferdinand Marcos Jr.'s recent visit to the White House. The new tariff is slightly lower than the 20% rate initially announced on July 9. As part of the deal, Trump stated that U.S. exports will face no import taxes in the Philippines. The White House also revealed new details of a finalized trade agreement with Indonesia, under which a 19% tariff will apply to Indonesian goods. Additionally, a 40% tariff will be imposed on any goods...
The Japanese Yen (JPY) continues to struggle to attract meaningful buyers and held near a three-week low against its US counterpart heading into the European session on Tuesday. Firming expectations that the Bank of Japan (BOJ) will keep short-term interest rates unchanged later this week, coupled with a positive risk tone, continued to undermine the JPY's safe-haven appeal. Moreover, bets for a less dovish Federal Reserve (Fed) continued to support a pickup in the US Treasury bond yields, which turned out to be another factor weighing on the lower-yielding JPY. However, JPY market players...
Silver held below $30.5 an ounce on Tuesday (12/17) after facing heavy selling pressure in recent sessions, weighed down by concerns about a more measured pace of easing from the U.S. Federal Reserve next year. The Fed is widely expected to deliver a 25 basis point interest rate cut this week, but may signal fewer cuts for 2025 amid concerns about a potential resurgence in inflation. Silver and other metals are also facing pressure from ongoing demand uncertainty in China, the world's largest consumer of the metal. Earlier this week, data showed that China's retail sales growth slowed more...
Oil prices fell further on Tuesday as Chinese economic data renewed demand concerns, while investors remained cautious ahead of the U.S. Federal Reserve's interest rate decision. U.S. West Texas Intermediate crude was down 11 cents at $70.60 a barrel by 0409 GMT, while Brent crude was down 6 cents at $73.85 a barrel. Prices were "weighed down by profit-taking after last week's 6% rally and a batch of disappointing Chinese economic data yesterday," said IG market analyst Tony Sycamore. Prices fell from multi-week highs on Monday on unexpectedly weak consumer spending data from China,...
Gold was steady around $2,650 an ounce on Tuesday ahead of a two-day Federal Reserve meeting, with investors eyeing the central bank's 2025 outlook. The Fed is widely expected to deliver a 25bps interest rate cut, but uncertainty remains about the extent of future easing, especially with the prospect of higher inflation under the incoming Trump administration. Recent data showed that U.S. private sector activity grew at a faster pace in December, suggesting the Fed may limit rate cuts next year, which could dampen demand for the precious metal. However, bullion has gained about 29% this...
The Australian dollar held steady around $0.637 on Tuesday, near its lowest level in a year as investors remained cautious ahead of the U.S. Federal Reserve's upcoming policy decision. The Fed is widely expected to cut interest rates by 25 basis points on Wednesday, but may signal fewer cuts than previously indicated for 2025. At home, a private survey showed Australian consumer confidence fell in December, as sentiment turned more pessimistic about the economic outlook. Additionally, traders are awaiting the Australian government's update on its budget outlook, which is expected to show 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...
US President Donald Trump announced that a 19% tariff will be imposed on goods from the Philippines, following trade talks prompted by Filipino President Ferdinand Marcos Jr.'s recent visit to the...