European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
Oil futures fell on Friday after Iran reaffirmed its commitment to nuclear non-proliferation and amid expectations that major producers are set to agree to raise their output this weekend. Brent crude futures were down 35 cents, or 0.51%, to $68.45 a barrel by 0730 GMT, while U.S. West Texas Intermediate crude fell 25 cents, or 0.37%, to $66.75. Trade was thinned by the U.S. Independence Day holiday. U.S. news website Axios reported on Thursday that the U.S. was planning to meet with Iran next week to restart nuclear talk, while Iran Foreign Minister Abbas Araqchi said Tehran remains...
Gold price (XAU/USD) maintains its bid tone through the first half of the European session on Friday, though it remains below a one-week high touched the previous day. The US Dollar (USD) struggles to capitalize on the upbeat US NFP-inspired rally on Thursday amid concerns that US President Donald Trump's 'One Big Beautiful Bill' would worsen the country's fiscal situation. This, along with persistent trade-related uncertainties, turns out to be a key factor underpinning demand for the safe-haven precious metal. Meanwhile, traders dialled back expectations that the Federal Reserve (Fed)...
Silver prices held firm above $36.80 per ounce on Friday, approaching 13-year highs as renewed global trade tensions bolstered demand for safe-haven assets. Investors remained on edge after President Donald Trump announced plans to begin sending letters outlining new trade tariffs or potential deadline extensions as early as Friday, fueling uncertainty in global markets. Adding to market anxiety, the US House of Representatives passed Trump's sweeping tax cuts and spending bill, which now heads to the White House for his signature. The legislation is expected to widen the federal budget...
Markets stay relatively quiet early Friday and the US Dollar (USD) Index retreats after posting gains for two consecutive days. May Producer Price Index (PPI) for the Eurozone will be the only data featured in the European economic calendar. Financial markets in the US will remain closed in observance of the July 4 holiday, paving the way for subdued action heading into the weekend. The data published by the US Bureau of Labor Statistics showed on Thursday that Nonfarm Payrolls (NFP) in the US rose by 147,000 in June. This reading came in better than the market expectation for an increase...
Gold edged up to around $3,330 per ounce on Friday, heading for a weekly advance as concerns over the US fiscal deficit and lingering tariff uncertainty boosted the metal's safe-haven appeal. On Thursday, the House approved President Donald Trump's massive package of tax and spending cuts, which is expected to add more than $3 trillion to the country's deficit over the next decade. Meanwhile, Trump said he would begin sending letters to countries on Friday specifying what tariff rates they will face on imports to the US—a clear shift from earlier pledges to negotiate individual...
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 locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...