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 Australian Dollar (AUD) snapped a four-day losing streak on Monday (16/12) as the US Dollar (USD) weakened amid US Treasury yields ahead of the Federal Reserve's (Fed) interest rate decision due on Wednesday. The Fed is widely expected to announce a 25 basis point interest rate cut at its final monetary policy meeting of 2024. According to the CME FedWatch tool, markets are now almost fully pricing in a quarter basis point rate cut at the Fed's December meeting. China Retail Sales (YoY) rose 3.0% in November, compared with a 4.6% forecast and a previous reading of 4.8%. Meanwhile,...
West Texas Intermediate (WTI) oil prices corrected lower after posting gains in the previous session, trading around $70.50 per barrel during the Asian session on Monday (12/16). Crude oil prices rose amid rising expectations of tighter supplies driven by the imposition of additional US sanctions on major producers Russia and Iran. US Treasury Secretary Janet Yellen told Reuters on Friday that the United States was considering further sanctions on "black fleet" tankers and may also impose sanctions on Chinese banks to curb Russian oil revenues and access to foreign supplies, which fueled...
The GBP/USD pair moved up at the start of a busy week and for now, seems to have snapped a three-day losing streak to the 1.2600 handle, or more than a two-week low hit on Friday. The spot currency is trading around the 1.2630-1.2635 range, up 0.10% for the day, although meaningful appreciation seems elusive ahead of the key central bank event risks this week. The Federal Reserve (Fed) is scheduled to announce its policy decision on Wednesday, which will be followed by the Bank of England (BoE) meeting on Thursday. The US central bank is widely expected to lower borrowing costs for the...
Gold prices (XAU/USD) traded flat around $2,650 during the early Asian session on Monday (12/16). However, strong central bank purchases and ongoing geopolitical tensions in the Middle East could support the precious metal in the near term. Investors await the December US Purchasing Managers' Index (PMI) for fresh impetus, due on Monday. Significant demand from central banks lifted the yellow metal. Central banks have been net buyers of gold for nearly 15 years, underscoring its value as a crisis hedge and reliable reserve asset. According to the World Gold Council, the precious metal is...
Oil prices were steady on Monday after a weekly gain as the U.S. signaled tighter sanctions on Russian crude and Chinese authorities vowed to shore up the country's economy. Brent crude traded above $74 a barrel after rising nearly 5% last week, while West Texas Intermediate crude neared $71. The U.S. and its allies could consider lowering the price cap on Russian crude to further limit Moscow's ability to fund its war in Ukraine, Treasury Secretary Janet Yellen said in an interview with Reuters. Crude has been stuck in a tight range since mid-October, with geopolitical concerns tempered...
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...