Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
This week's price action has given us a glimpse of what's to come in the forex market in Trump's second term, with a brief dollar correction being taken as an opportunity to enter structural USD long positions at more attractive levels, notes ING forex analyst Francesco Pesole. "While our view is that the dollar will remain strong through next year, the near-term picture is still a bit more nuanced as long-term dollar positioning is starting to look quite stretched and a broader (albeit short-lived) dollar correction could be on the cards. One catalyst could be today's PPI print, which has...
Silver prices fell near $30 an ounce on Thursday, nearing a two-month low as risk sentiment and a stronger dollar diverted investor interest from the precious metal. Equities, cryptocurrencies and the dollar have rallied since Donald Trump's election victory last week, as markets bet on strong growth and higher inflation under the new administration. Meanwhile, the latest U.S. inflation figures met expectations, with little impact on the Federal Reserve's monetary policy outlook. In China, investors were disappointed by Beijing's latest support measures to stabilize the economy, although...
Gold price (XAU/USD) continues losing ground for the fifth consecutive day and drops to its lowest level since September 19, around the $2,559-2,558 region as the US Dollar (USD) buying remains unabated through the Asian session on Thursday. Hopes that US President-elect Donald Trump's policies will spur growth and stimulate inflation, and force the Federal Reserve (Fed) to pause its easing cycle remain supportive of elevated US Treasury bond yields. This, in turn, lifts the USD to its highest level since November 2023 and continues to weigh heavily on the commodity. Furthermore, the US...
Gold prices (XAU/USD) attracted sellers for the fifth consecutive day and dropped to the lowest level since September 19, around the $2,559-2,558 region during the Asian session on Thursday. The US Dollar (USD) continued its post-election rally and climbed to a new peak so far this year (YTD) on hopes that US President-elect Donald Trump's policies will spur growth. This, in turn, was seen as a key factor that continued to weigh on the USD-denominated commodity. Meanwhile, investors believe that the protectionist tariffs expected from the new Trump administration could increase inflation...
The Australian Dollar (AUD) continued its losing streak against the US Dollar (USD) following the release of key economic data on Thursday. Australian Consumer Inflation Expectations fell to 3.8% in November, down from 4.0% in the previous month, reaching the lowest level since October 2021. Australia's seasonally adjusted Unemployment Rate remained steady at 4.1% in October for the third month in a row, in line with market expectations. However, Employment Change showed only 15.9K new jobs were added in October, well below estimates of 25.0K. Reserve Bank of Australia (RBA) Governor...
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.
It...
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 said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...