US President Donald Trump announced that a 19% tariff will be imposed on goods from the Philippines, following trade talks prompted by Filipino President Ferdinand Marcos Jr.'s recent visit to the White House. The new tariff is slightly lower than the 20% rate initially announced on July 9. As part of the deal, Trump stated that U.S. exports will face no import taxes in the Philippines. The White House also revealed new details of a finalized trade agreement with Indonesia, under which a 19% tariff will apply to Indonesian goods. Additionally, a 40% tariff will be imposed on any goods...
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...
Gold prices (XAU/USD) recovered from Friday's losses. Uncertainties surrounding the US presidential election and ongoing geopolitical tensions in the Middle East provided some support to the precious metal, a traditional safe-haven asset. However, rising US Treasury yields and a stronger US Dollar (USD) may weigh on the yellow metal. Traders will be eyeing the US October jobs report on Friday for fresh impetus, including Nonfarm Payrolls (NFP), Unemployment Rate, and Average Hourly Earnings. A stronger reading could boost bets for less aggressive policy easing by the Federal Reserve (Fed),...
Gold steadied around $2,750 an ounce on Friday after losing more than 1% in the previous session, as markets weighed demand for safety against pressure from a less dovish Federal Reserve. The latest U.S. data revealed strong personal income and spending figures, a rise in underlying inflation that remained above target, and an unexpected drop in jobless claims. This reinforced the perception that the U.S. economy is resilient to higher borrowing costs and gave the Fed more room to avoid implementing aggressive cuts. However, political uncertainty in the U.S. is supportive of gold, as the...
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...
US President Donald Trump announced that a 19% tariff will be imposed on goods from the Philippines, following trade talks prompted by Filipino President Ferdinand Marcos Jr.'s recent visit to the...