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) attracts some buyers for the second straight day on Thursday and retains its positive bias through the first half of the European session. The US Dollar (USD) selling remains unabated amid reports that US President Donald Trump was considering replacing Federal Reserve (Fed) Chair Jerome Powell, fueling concerns about the future independence of the central bank. Adding to this, bets that the Fed will resume its rate-cutting cycle as early as July drags the USD to over a three-year low and benefits the non-yielding yellow metal. Meanwhile, the latest optimism over a...
Oil prices inched higher on Thursday, extending gains from the previous day as a larger-than-expected draw in U.S. crude stocks signalled firm demand, while investors remained cautious about the Iran-Israel ceasefire and stability in the Middle East. Brent crude futures rose 53 cents, or 0.8%, to $68.21 a barrel by 0630 GMT. U.S. West Texas Intermediate (WTI) crude gained 56 cents, or 0.9%, to $65.48 a barrel. Both benchmarks climbed nearly 1% on Wednesday, recovering from early-week losses after data showed resilient U.S. demand. "Some buyers are favouring solid demand indicated by...
The Pound Sterling (GBP) extends its winning streak against the US Dollar (USD) for the fourth consecutive trading day on Thursday, refreshing an over three-year high at around 1.3725 at the time of writing. The GBP/USD pair strengthens as the US Dollar faces a sharp selling pressure after United States (US) President Donald Trump reiterated attacks on Federal Reserve's (Fed) independence, following Chair Jerome Powell's commitment to a "wait and see" approach on interest rates in the two-day semi-annual testimony before Senate. The US Dollar Index (DXY), which tracks the Greenback's value...
The US Dollar is trading lower for the sixth consecutive day on Thursday, as Trump's attacks on Fed Chairman Jerome Powell have undermined confidence in the US central bank and revived the "Sell America" trade. The USD Index (DXY), which measures the value of the Dollar against the most traded currencies, is nearly 2% lower this week, at the lower range of the 97.00s for the first time since March 2022. President Trump reacted with anger to Powell´s testimony to Congress, calling him names and suggesting that he might announce the name of his replacement as soon as September or October....
Silver (XAG/USD) price attracted some buyers around $36.35 during the early European session on Thursday (6/26), supported by a weaker US Dollar (USD). Traders will take more cues from the final US Q1 GDP Growth Rate and Fed speeches due later on Thursday. The greenback faced some selling pressure amid concerns about the future independence of the US Federal Reserve (Fed). This, in turn, provided some support to the USD-denominated commodity, as a weaker USD makes Silver cheaper for foreign buyers. US President Donald Trump said that he will pick a replacement for Fed Chair Jerome Powell 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...