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 US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of six major currencies, continued its downtrend that began on June 19, as it traded around 97.20 during European hours on Monday (06/30). Traders are awaiting US employment figures due later this week, which could further provide fresh impetus on the US Federal Reserve's (Fed) policy outlook. The US Nonfarm Payrolls report is expected to show the economy added 110,000 new jobs in June, down from 135,000 in May. The current range is between a high of 140,000 and a low of 75,000. Additionally,...
Oil prices fell in Asian trade on Monday as waning geopolitical tensions between Israel and Iran saw traders further pare back a risk premium, while anticipation of more output hikes by the OPEC+ also weighed. Brent oil futures for August fell 0.8% to $67.20 a barrel, while West Texas Intermediate crude futures fell 1.1% to $64.77 a barrel by 21:44 ET (01:44 GMT). Oil was still headed to rise more than 5% this month, having initially rallied on the Israel-Iran war. Crude markets took middling cues from mixed purchasing managers index data from top oil importer China, which showed...
Gold edged up, supported by a dip in the dollar, as US trade talks progressed ahead of a July 9 deadline and Senate negotiations continued over President Donald Trump's $4.5 trillion tax cut package. Bullion fell as much as 0.8% on Monday before paring losses to trade slightly higher, following two consecutive weekly declines. With just 10 days to go until Trump's country-specific tariffs are set to resume, investors were weighing signs of potential trade progress following recent comments from top White House advisers that indicated the US is nearing agreements with...
The Australian dollar edged higher to around $0.653 on Monday, supported by continued weakness in the greenback amid a dovish Federal Reserve and growing fiscal concerns. Investors are closely watching upcoming US jobs data, which could shape expectations for a rate cut in July. Adding to pressure on the greenback is the investor anxiety over a sweeping tax and spending bill currently under consideration in the Senate, which could add $3.3 trillion to the national debt. Domestically, the Melbourne Institute's Monthly Inflation Gauge showed a modest uptick in June, reversing the previous...
The Japanese yen strengthened toward 144 per dollar on Monday, approaching two-week highs as the US dollar extended its decline amid a more dovish Federal Reserve outlook, mounting fiscal concerns, and persistent trade uncertainty. Markets are bracing for key US jobs data this week, which could reveal signs of labor market softness and bolster expectations for a Fed rate cut in July. Domestically, Japanese industrial production rose less than expected in May, as elevated US tariffs continued to weigh on the outlook. The 25% tariff on Japanese car imports remains a major sticking point in...
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...