The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President Donald Trump announced Sunday while in Scotland. The broad-strokes deal encompasses significant EU purchases of U.S. energy and military gear, along with substantial investments in the American economy. According to Trump, the European Union has committed to purchasing $750 billion worth of energy from the United States. He also stated that the EU has agreed to make $600 billion in investments in the U.S. "They are agreeing to open up their...
Oil prices edged up on Wednesday, finding some relief after falling in the past two sessions, as investors assessed the stability of a ceasefire between Iran and Israel. Brent crude rose 75 cents, or 1.1%, to settle at $67.89 a barrel. U.S. West Texas Intermediate (WTI) crude rose 71 cents, or 1.1%, to settle at $65.08. Brent closed on Tuesday at its lowest since June 10 and WTI since June 5, both before Israel launched a surprise attack on Iran's main military and nuclear facilities on June 13. Prices had risen to a five-month high after the U.S. struck Iranian nuclear facilities over...
The Japanese Yen (JPY) remained firm against its US counterpart during the Asian session on Wednesday (6/25) and remained close to a one-week high hit the previous day amid a combination of supportive factors. The Bank of Japan (BOJ) June meeting summary showed that some policymakers called for interest rates to be kept steady for the time being due to uncertainty over the impact of US tariffs on the Japanese economy. In addition, the fragile Israel-Iran ceasefire and trade-related uncertainties supported the JPY as a safe-haven asset. Meanwhile, investors appear convinced that the BOJ...
Gold was steady in early Asian trade on the prospect of a Fed rate cut that would boost the appeal of the non-yielding precious metal. Fed Chair Powell told lawmakers on Tuesday that recent economic data would likely justify a rate cut if there were no concerns that higher tariffs could derail policymakers' efforts to combat inflation. Two Fed officials, Christopher Waller and Michelle Bowman, have also recently indicated they could support a rate cut. "Gold prices are resilient on speculation about a U.S. rate cut," Thu Lan Nguyen, head of FX and Commodity Research at Commerzbank, said in...
EUR/USD extended its gains for the fourth straight day, up by 0.39%, even though it trades off the yearly highs of 1.1641, driven by US Dollar weakness spurred by a de-escalation of the Middle East conflict. Israel and Iran agreed to a ceasefire, which improved the market mood and ultimately weighed on the Greenback. At the time of writing, the pair traded at 1.1619, up 0.38%. Market mood turned upbeat, pushing the Dollar down. The US Dollar Index (DXY), which tracks the buck's performance against a basket of six currencies, including the Euro, tumbled over 0.47%, trading near weekly lows...
Oil prices fell 6% on Tuesday to settle at a two-week low, on expectations the ceasefire between Israel and Iran will reduce the risk of oil supply disruptions in the Middle East. The ceasefire was on shaky ground with U.S. President Donald Trump accusing both Israel and Iran of violating it just hours after it was announced. Brent crude futures fell $4.34, or 6.1%, to settle at $67.14 a barrel. U.S. West Texas Intermediate (WTI) crude fell $4.14, or 6.0%, to settle at $64.37. Settlement was the lowest for Brent since June 10 and WTI since June 5, both before Israel launched a surprise...
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.
It...
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...
The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President Donald Trump announced Sunday while in Scotland.
The...