The United States and the European Union agreed on a framework trade deal to end months of uncertainty for industries and consumers. The two sides aim to produce a joint statement to clarify what they have agreed to, but here are the main elements of the deal that will enter into force on August 1 through an executive order by President Donald Trump, according to EU officials: * BASELINE TARIFF RATE: Almost all EU goods entering the U.S. will be subject to a 15% baseline tariff. The 15% tariff is not added to any existing rates. * CARS: Cars and car parts will be subject to the 15%...
Oil prices edged up on Friday on reports Iran was preparing a retaliatory strike on Israel from Iraq in coming days, but record U.S. output weighed on prices. Brent futures were up 29 cents, or 0.4%, to settle at $73.10 a barrel. U.S. West Texas Intermediate (WTI) crude gained 23 cents, or 0.3%, to settle at $69.49. At their session highs, both benchmarks were up over $2 a barrel. Brent posted a weekly decline of about 4% with WTI down about 3%. On Thursday, U.S. news website Axios reported that Israeli intelligence suggests that Iran is preparing to attack Israel from Iraq within days,...
EUR/USD gives up gains after facing selling pressure near the key resistance of 1.0900 in North American trading hours on Friday. The major currency pair drops as the US Dollar (USD) bounces back strongly in the aftermath of the United States (US) Nonfarm Payrolls (NFP) data for October. Initial reaction from the US Dollar was negative, however, it rebounded strongly, with the US Dollar Index (DXY) returning back above 104.00. The report showed that the economy added 12K fresh payrolls, significantly lower than estimates of 113K and the former release of 223K, downwardly revised from 254K...
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...
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...
The European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of their ongoing trade deal, EU Trade Commissioner...