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,...
The trading action in financial markets turns subdued early Thursday as investors gear up for the key June employment report from the US, which will feature Unemployment Rate, Nonfarm Payrolls and wage inflation figures. The US economic calendar will also offer weekly Jobless Claims data and the Institute for Supply Management's (ISM) Services Purchasing Managers' Index (PMI) report for June. After starting the day on a bullish note on Wednesday, the US Dollar (USD) lost its recovery momentum in the American session to end the day with small gains. The data published by Automatic Data...
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, remains on the defensive near 96.70 during the early Asian session on Thursday. All eyes will be on the release of highly-anticipated US Nonfarm Payrolls (NFP) data for June, which is due later on Thursday. The Greenback edges lower after the ADP National Employment Report showed US private payrolls fell for the first time in more than two years in June. US private-sector payrolls decreased 33,000 in June after a downwardly revised 29,000 gain in May. This figure came...
Gold eased after a three-day gain, before pivotal US jobs data due later Thursday that may shape the outlook for the Federal Reserve's monetary easing path. Bullion traded near $3,345 an ounce after gaining more than 2% earlier this week, as markets shifted focus to the incoming payrolls report that's forecast to show 106,000 jobs were added to the economy in June, which would mark the fewest in four months. Separate data from ADP Research on Wednesday showed employment at US companies fell for the first time in over two years, prompting traders to boost bets on at least two rate cuts...
Oil steadied after its biggest gain in almost two weeks, as a US trade deal with Vietnam boosted optimism further agreements will be made by next week's cutoff. West Texas Intermediate traded above $67 a barrel after surging more than 3% on Wednesday, with Brent crude closing near $69. The deal with Vietnam would be just the third announced following agreements with the UK and China, as trading partners race to cut agreements with the US ahead of a July 9 deadline. Crude has been buffeted in recent weeks, surging and collapsing along with perceived geopolitical risk in the...
The euro (EUR) posted a minimal loss of 0.08% against the US dollar (USD), trading below the 1.1800 mark on Wednesday. A worse-than-expected US jobs report raised speculation that the Federal Reserve (Fed) could cut interest rates amid growing fears of a recession in the world's largest economy. Currently, the EUR/USD pair is trading at 1.1795, almost unchanged. On Wednesday, Automatic Data Processing (ADP) announced that private payrolls declined in June, marking the first decline in two years. Although the US dollar initially weakened, it recovered slightly, dragging EUR/USD back below...
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...