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...
Gold prices (XAU/USD) attracted some buyers during the Asian session on Wednesday (13/11) and for now, seems to have snapped three consecutive days of declines to the lowest level since September 20, around the $2,590-$2,589 region touched the previous day. The uptick lacked any obvious fundamental catalyst and could be attributed to some repositioning activity ahead of the US consumer inflation figures. The key data could influence expectations about the Federal Reserve's (Fed) interest rate cut path and provide a fresh directional impetus to the non-yielding yellow metal. Ahead of the key...
Gold prices edged up on Wednesday as investors hunted for bargains after steep declines in the previous session, while spotlight shifted to U.S. inflation print, which could shed more light on the Federal Reserve's monetary policy path. Spot gold rose 0.4% at $2,608.18 per ounce by 0200 GMT, after hitting its lowest since Sept. 20 on Tuesday. U.S. gold futures was up 0.3% at $2,614.10. There is currently some bargain hunting going on as prices fell below the $2,600 mark. Recent sessions saw gold negatively impacted due to a stronger dollar, driven by expectations of inflationary Trump...
The Australian Dollar (AUD) attempted to halt its losing streak against the US Dollar (USD) on Wednesday (13/11) following a radio interview with Australian Prime Minister Anthony Albanese. Albanese said he discussed trade with US President-elect Donald Trump during a phone call last week. Albanese told Trump that the United States has a trade surplus with Australia and stressed that Washington's best interest is to "trade fairly" with its allies. Meanwhile, the defense minister underlined Australia's significant investment in security. The AUD/USD pair remained subdued following the...
The Japanese Yen (JPY) remained on the back foot against its American rival and hit a fresh low since July 30 during the Asian session on Wednesday, albeit managing to defend the psychological 155.00 level. Growing market confidence that the Japanese political landscape could make it difficult for the Bank of Japan (BOJ) to raise interest rates again continued weighing on the JPY. Meanwhile, US President-elect Donald Trump's inflation rate, which could have a significant impact on Japanese exports, could limit the scope for the Federal Reserve (Fed) to cut interest rates. This remained...
Oil prices edged up on Wednesday on signs of short-term supply tightness but remained near a two-week low after OPEC lowered its forecast for global oil demand growth in 2024 and 2025. Brent crude futures were up 13 cents, or 0.18%, at $72.02 a barrel by 0205 GMT, and U.S. West Texas Intermediate (WTI) crude futures were up 13 cents, or 0.19%, at $68.25. But weaker demand projections and weakness in top consumer China continued to weigh on market sentiment. In its monthly report on Tuesday, the Organization of the Petroleum Exporting Countries (OPEC) said global oil demand will rise by...
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 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...