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,...
Gold price (XAU/USD) trades with a mild negative bias during the early European session on Wednesday and for now, seems to have snapped a two-day winning streak to a one-week top touched the previous day. The US Dollar (USD) ticks higher and moves away from a three-and-a-half-year low, which, in turn, undermines the commodity. Moreover, a generally positive risk tone is seen as another factor denting demand for the safe-haven precious metal. However, expectations that the US Federal Reserve (Fed) will resume its rate-cutting cycle in the near future and concerns about the fiscal...
Oil futures were little changed on Wednesday as markets weighed expectations from more supply from major producers next month, a softer U.S. dollar and a mixed bag of economic and market indicators from the U.S., the world's largest oil consumer. Brent crude was up 2 cents at $67.13 a barrel at 0345 GMT, while U.S. West Texas Intermediate crude fell 1 cent to $65.44 a barrel. Brent has traded between a high of $69.05 a barrel and low of $66.34 since June 25, as concerns of supply disruptions in the Middle East producing region have ebbed following the ceasefire between Iran and...
A gauge of the dollar steadied after unexpectedly strong US job figures overnight lifted it off a three-year low. The Bloomberg Dollar Spot Index was little changed on Wednesday, having slipped as much as 0.4% to its weakest since 2022 during the previous session. The gauge then pared losses and Treasury yields rose after May JOLTs job openings came in above estimates. While trading in G-10 currencies is largely devoid of direction ahead of non-farm payrolls data due later this week, "we see nascent signs of the dollar staging a mini rebound should data continue to surprise to the upside,"...
The Japanese yen weakened toward 144 per dollar on Wednesday, pulling back from over three-week highs after US President Donald Trump threatened to impose a 35% tariff on Japanese imports in a bid to pressure Tokyo into making trade concessions. Trump described negotiations with Japan as "really hard," once again criticizing the country's reluctance to accept cars and rice from the US. Meanwhile, domestic data released earlier this week showed a surprise uptick in business sentiment among large manufacturers in the second quarter, underscoring resilience despite mounting external...
Gold fell to around $3,330 per ounce on Wednesday, trimming over 1% gains from the previous session as easing geopolitical risks reduced its safe-haven appeal. President Trump said Tuesday Israel agreed to a 60-day Gaza ceasefire and warned Hamas to accept before conditions worsen. Meanwhile, a weaker US dollar limited losses amid fiscal concerns and trade uncertainty. The Senate passed Trump's tax-and-spending megabill, sending it back to the House, which is projected to add $3.3 trillion to the national debt. Trump also expressed frustration over US-Japan trade talks, threatening a 35%...
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...