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,...
The US Dollar Index (DXY) weakened and moved below the 97.50 level in Asian trading on Tuesday (9/7), after recording a surge of more than 1% in the previous session. The DXY had strengthened due to a surge in risk aversion following the announcement of new tariffs from the White House, but weakened again as markets began to consider the potential for a Federal Reserve interest rate cut amid increasing US fiscal pressures. What caused it? President Donald Trump signed an executive order on Monday night that delayed the implementation of new tariffs until August 1, giving trading partner...
Oil prices fell in Asian trade on Tuesday as investors assessed the impact of President Donald Trump's tariff hikes on major trading partners, while lingering concerns about a supply glut from rising OPEC+ output added further pressure. At 9:40 p.m. ET (01:40 GMT), Brent crude futures expiring in September were down 0.7% at $69.11 a barrel, while West Texas Intermediate (WTI) crude futures were also down 0.7% at $67.46 a barrel. Both contracts rose more than 1% on Monday despite expectations of increased supply, as traders assessed the overall state of the market, which appeared tight....
Gold prices moved steadily on Tuesday (9/7), after reversing sharp losses in the previous session. This stability was triggered by market concerns about increasing global trade tensions after US President Donald Trump announced new tariffs of 25% on Japan and South Korea. This move encouraged investors to return to safe haven assets such as gold, although the strengthening US dollar put pressure on the price of the precious metal. What happened? Trump stated that Asian countries, including Japan and South Korea, would be subject to a 25% tariff on a number of exports to the US. Additional...
GBP/USD fell on Monday, cutting further to the lower side and adding to short-term losses as Pound bulls took a breather. Losses were contained in early week trade; however, fresh tariff threats from US President Donald Trump have dented investor risk appetite, curbing upside market flows and sparking a renewed push to avoid risk on the US Dollar. The Trump administration went into overdrive this week, delaying its self-imposed July 9 deadline to restart the broad reciprocal tariffs that were initially announced and then quickly postponed in early April. Despite another change to the "firm"...
EUR/USD fell on Monday (07/07) during the North American session amid a push to avoid risk, due to the escalating trade war, as US President Donald Trump began sending letters containing tariffs on several countries. This pushed the US dollar, hurting the common currency, which was trading at 1.1718, down 0.44%. Trump announced a 25% tariff on all Korean and Japanese products imported into the US. In addition, he imposed duties on Malaysia, Kazakhstan, Myanmar, Laos, and South Africa in the range of 25% to 40%. As the headlines broke, EUR/USD dropped to a six-day low of 1.1686. However,...
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...