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...
Oil prices were flat in Asian trade on Tuesday after logging steep losses in the prior session as more stimulus measures in China underwhelmed, while focus also remained on U.S. supplies. Crude prices tumbled on Monday as China's plans for more fiscal spending left investors wanting, while inflation data from the world's biggest oil importer also disappointed. In the U.S., tropical storm Rafael was seen largely dissipating in the Gulf of Mexico, soothing any fears of supply disruptions in the region. Brent oil futures expiring in January rose 0.2% to $71.95 a barrel, while West Texas...
Silver (XAG/USD) prices fell for the third straight day, trading around $30.60 per troy ounce during the Asian session on Tuesday (12/11). The precious metals sector, including Silver, faced pressure due to reduced demand for safe-haven assets. Traders are increasingly turning to riskier assets as markets assess the potential impact of US President-elect Trump's fiscal policy and monetary strategy. The possibility of tariffs being implemented early in Trump's term could lead to inflation, which in turn could cause the Federal Reserve (Fed) to delay its expected easing measures in the coming...
The Japanese Yen (JPY) fell again in Asia to levels below 154.00 against the US currency, although there was no follow-through buying amid uncertainty over the Bank of Japan's (BOJ) rate hike plans. Japan's fragile minority government is expected to make it difficult for the BOJ to tighten its monetary policy. Moreover, the BOJ's Summary of Opinions from its October meeting revealed that policymakers were divided on whether to raise interest rates again. This, coupled with concerns over President-elect Donald Trump's tariffs returning, supported the JPY. Meanwhile, Trump's expansionary...
The Australian dollar depreciated past $0.656 on Tuesday(12/11), sliding toward its weakest levels in three months as the greenback continued to dominate on expectations that US economic outperformance and aggressive trade practices under a Trump presidency could drive up inflation. Additionally, weak economic data and a disappointing stimulus package from China, a key trading partner, added further pressure. The Australian dollar is often seen as a liquid proxy for the Chinese yuan, and its decline reflects ongoing concerns about China's economic outlook. Domestically, Australia's consumer...
West Texas Intermediate (WTI), the US crude oil benchmark, was trading around $68.00 on Tuesday (11/12). WTI prices moved lower amid concerns that the Trump administration will trigger a tariff-led trade war and concerns about demand growth in China. Donald Trump's victory in the US presidential election may continue to affect WTI prices. Trump has announced his intention to impose blanket tariffs ranging from 10% to 20% on all imports and additional tariffs on up to 60% of products imported from China. A renewed trade war with China is also likely to hurt economic growth in China, delaying...
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...