Indonesia's chief economic minister Airlangga Hartarto said Monday that a 19% tariff on Indonesian goods entering the United States could be implemented earlier than the August 1 deadline set by U.S. President Donald Trump. Airlangga noted that the timing of the tariff implementation depends on a joint statement expected soon between the two countries. The United States and Indonesia reached a trade deal last week that resulted in a reduction of the initially proposed U.S. tariff rate from 32% to 19%. Source: Investing.com
Oil was little changed as trade thinned out ahead of the U.S. Thanksgiving holiday, with focus on this weekend's OPEC+ meeting. West Texas Intermediate was below $69 a barrel after trading in its tightest range in more than a month on Wednesday, with Brent crude closing near $73. OPEC+ is widely expected to once again delay a production recovery when it meets Sunday, to offset concerns about an anticipated supply glut next year. U.S. trade had been subdued before the holiday. Crude had been trapped in a tight range since early October, with prices shaken by geopolitical concerns in the...
Gold prices recover on Wednesday after dropping to a weekly low of $2,605, bolstered by a soft US Dollar responding to the release of US economic data. This alongside falling US Treasury bond yields, spurred Gold's recovery to current prices. The XAU/USD trades at $2,636 up by 0.13%. The market mood turned slightly sour as US equity markets prepared for Thanksgiving. In the meantime, the Federal Reserve's (Fed) preferred inflation gauge, the core Personal Consumption Expenditures (PCE) Price Index, justifies the Fed's gradual approach, which is expected to lower borrowing costs at the...
Gold rose on Wednesday, rebounding from an over one-week low hit in the previous session, on a weaker dollar, but trimmed earlier gains after data showed stalled inflation progress, hinting that the U.S. Federal Reserve might be cautious on further rate cuts. Spot gold was up 0.4% at $2,641.34 per ounce. U.S. gold futures rose 0.7% to $2,640.60. U.S. consumer spending increased solidly in October, but progress lowering inflation appears to have stalled in the past months. "We think that the small correction that we just saw in the metals in reaction to data was mostly driven by personal...
Oil edged higher as signs OPEC+ will once again delay restoring output countered easing geopolitical risk in the Middle East. Brent traded above $73 a barrel, after sliding in the prior two sessions on anticipation of a truce between Israel and Hezbollah. OPEC+ talks to delay a production restart have begun ahead of a meeting this weekend, allaying concerns over a supply glut. Israel started a cease-fire with the Iran-backed militant group after weeks of talks mediated by the US. Oil options markets have begun pricing a lower risk of escalation and hundreds of...
Silver prices (XAG/USD) broadly unchanged on Wednesday, according to FXStreet data. Silver trades at $30.54 per troy ounce, broadly unchanged 0.12% from the $30.50 it cost on Tuesday. Silver prices have increased by 28.33% since the beginning of the year. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 86.79 on Wednesday, up from 86.30 on Tuesday. Source : FXStreet
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...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged increased air defense protection to help shield the...