U.S. Treasury Secretary Scott Bessent said on Tuesday that he will meet his Chinese counterpart next week and discuss what is likely to be an extension of an August 12 deadline for higher tariffs. Bessent told Fox Business that trade with China was in "a very good place" and the meetings in Stockholm would take place next Monday and Tuesday. "I think we've actually moved to a new level with China, where it's very constructive and very we're able we're going to be able to get a lot of things done now that trade has kind of settled in at a good level," Bessent said Source: Investing.com
Gold prices hit two-week highs on Monday, climbing more than 1% on renewed buying of the metal by China's central bank following a six-month hiatus, with bullishness increased by anticipation of a U.S. Federal Reserve interest rate cut next week. Spot gold gained 1.1% to $2,662.98 per ounce, as of 01:41 p.m. ET (1841 GMT). U.S. gold futures settled 1% higher at $2,685.50. The resumption of Chinese buying may support investor demand in the country. In 2023, China was the world's largest official sector buyer of gold, but the PBOC paused its 18-month buying streak in May. Spot silver added...
Gold price (XAU/USD) nudges higher on Monday's early European session, favoured by its safe-aven status amid the increasing uncertainty in the Middle East after the fall of the Bashar al-Assad regime in Syria. Beyond that, The People's Bank of China (PBoC) announced over the weekend that it resumed Gold purchases in November after a six-month pause, which is giving an additional boost to the precious metal. Data from the US released on Friday revealed that the country's labour market remains solid, but the increasing unemployment rate confirmed expectations that the Federal Reserve (Fed)...
The AUD/USD pair finds temporary support and advances to near 0.6420 in Monday's European session after posting a fresh four-month low near 0.6370 on Friday. The Aussie pair rebounds slightly with investors focusing on the Reserve Bank of Australia's (RBA) monetary policy decision, which will be announced on Tuesday. Market experts expect the RBA to leave interest rates unchanged at 4.35% but would temper its hawkish tone as the Australian Q3 Gross Domestic Product (GDP) growth came in weaker-than-expected, a scenario that would be favorable for the Australian Dollar (AUD).Analysts at ANZ...
The AUD/USD pair found interim support and rose near 0.6420 during the European session on Monday after hitting a fresh four-month low near 0.6370 on Friday. The Aussie pair recovered slightly as investors focused on the Reserve Bank of Australia (RBA) monetary policy decision, which will be announced on Tuesday. Market experts expect the RBA to leave interest rates unchanged at 4.35% but will tone down its hawkish tone as Australia's Gross Domestic Product (GDP) growth in Q3 came in weaker than expected, a scenario that would benefit the Australian Dollar (AUD). Source: FXStreet
Gold price (XAU/USD) kicks off the new week on a positive note and sticks to its modest gains through the early European session. The US Treasury bond yields dropped to their lowest level since October amid bets that the Federal Reserve (Fed) will lower borrowing costs again in December. Apart from this, political disruption in South Korea, geopolitical tensions and trade war fears offer some support to the safe-haven XAU/USD. Investors now seem convinced that the US central bank will adopt a less dovish stance amid expectations that US President-elect Donald Trump's expansionary policies...
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...
Indonesia's sovereign wealth fund, Danantara, plans to sign a USD 8 billion engineering, procurement, and construction (EPC) contract with US engineering firm KBR Inc. to build 17 modular...