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...
Silver was trading near 32.6USD/troy on Friday, close to 2-week low as investors continued to assess Fed policy outlook and demand for safety ahead of the upcoming US elections.The ISM manufacturing PMI fell more than expected but mostly becouse the price pressures intensifed. Earlier, the labout data showed US jobs creation slowed much more than anticipated but mostly due to strikes and distortions related to hurricanes. Still, silver prices are expected to finish the week at least 3% lower as economic data from Eurozone, combined with the UK's new government budget reeinforced the view of...
The Japanese Yen (JPY) retraces some of its recent gains following the release of the Manufacturing Purchasing Managers Index (PMI) by Jibun Bank and S&P Global on Friday. However, the USD/JPY pair declined as the JPY strengthened after post-meeting comments from Bank of Japan (BoJ) Governor Kazuo Ueda on Thursday, which were seen as increasing the likelihood of a rate hike in December. The headline au Jibun Bank Japan Manufacturing PMI stood at 49.2 in October, indicating a decline from 49.7 in September. This composite single-figure indicator shows that Japanese manufacturing...
Gold prices rise in early European trade after sliding in the previous session, with investors awaiting U.S. payrolls data for more insights on the Federal Reserve's next policy move. Futures trade 0.5% higher at $2,764.00 a troy ounce following a 2% fall on profit-taking and increasing bets that the U.S. central bank will take a more cautious approach to rate cuts in the months ahead. "The fact that the core PCE rose the most on a monthly basis since April--along with strong spending and robust growth data released earlier this week--trimmed the Fed cut bets," Swissquote Bank's Ipek...
The Australian Dollar (AUD) remains edged against the US Dollar (USD) following two days of gains, as Australia's mixed Producer Price Index (PPI) data for the third quarter was released on Friday . However, expectations of a hawkish stance from the Reserve Bank of Australia (RBA) continue to support the Aussie Dollar, limiting losses in the AUD/USD pair. Australia's Producer Price Index rose by 0.9% quarter-on-quarter in Q3, following a 1.0% increase in the previous period and surpassing market forecasts of a 0.7% rise. This marks the 17th consecutive period of producer inflation. On an...
The Japanese Yen (JPY) retraces some of its recent gains following the release of the Manufacturing Purchasing Managers Index (PMI) by Jibun Bank and S&P Global on Friday. However, the USD/JPY pair declined as the JPY strengthened after post-meeting comments from Bank of Japan (BoJ) Governor Kazuo Ueda on Thursday, which were seen as increasing the likelihood of a rate hike in December. The headline au Jibun Bank Japan Manufacturing PMI stood at 49.2 in October, indicating a decline from 49.7 in September. This composite single-figure indicator shows that Japanese manufacturing...
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...