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 Australian Dollar (AUD) recovers its daily losses against the US Dollar (USD) on Tuesday amid improved risk appetite, driven by the news that the US may scale back its goals for comprehensive reciprocal agreements with trading partners. US President Donald Trump's top trade officials were seeking phased deals with the most engaged countries as they hurried to reach an agreement by the July 9 deadline, when Trump had vowed to reimpose his harshest levies, per the Financial Times. However, the AUD/USD pair faced challenges as Australia's S&P Global Manufacturing Purchasing Managers'...
Gold climbed for a second day on optimism that the Federal Reserve will resume rate cuts this half, while investors continued to monitor US trade talks before a July 9 tariff deadline. Bullion rose 0.6% to near $3,323 an ounce, after gaining 0.9% on Monday as traders priced in higher odds of at least two US rate reductions in 2025. A jobs report on Thursday also looms as a potential catalyst for a drop in yields on Treasuries — a scenario that typically tends to benefit gold. Gold is up by more than a quarter this year, and is trading less than $200 short of...
Oil declined for a second day to near its lowest level since early June, with the focus turning to how much OPEC+ will increase output quotas this weekend. Brent crude traded below $67 a barrel, while West Texas Intermediate was near $65. The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase at a meeting on Sunday, according to a Bloomberg survey, as leader Saudi Arabia continues its bid to reclaim market share. A 411,000 barrel-a-day quota hike is like this weekend and there will...
Gold edges higher in the early Asian session, underpinned by Fed rate-cut hopes. "The metal could find support amid subdued yields and dovish expectations," Kudotrade's Konstantinos Chrysikos says in an email. "Markets expect three rate cuts in the U.S. during the second half of the year, which could support non-yielding assets like gold," the head of Customer Relationship Management says. Worries over the Fed's independence might also drive investors toward the precious metal, Chrysikos adds. Spot gold is 0.2% higher at $3,310.66/oz. Source : Dow Jones
Oil held a decline to trade near the lowest level since early June with the focus on how much OPEC+ will increase production at a meeting on Sunday. West Texas Intermediate was near $65 a barrel after shedding 0.6% on Monday, while Brent for September closed under $67. The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase as leader Saudi Arabia continues its bid to reclaim market share, according to a Bloomberg survey. Oil lost 9% last quarter in a volatile three months that saw prices drop...
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...