Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from BRICS, six countries, basically, I hit them very, very hard. And if they ever really form in a meaningful way, it will end very quickly," Trump said without specifying which nations he was referring to. The BRICS group currently includes Brazil, Russia, India, China, South Africa, and has recently expanded to include other nations. In addition to...
Oil prices rose on Wednesday, boosted by expectations of firm summer demand in the world's two largest consumers, the United States and China, though gains were capped by analysts' caution about the wider economy. Prices have seesawed in a tight range as signs of steady demand from an increase in travel during the Northern Hemisphere summer have competed with concerns that U.S. tariffs on trading partners will slow economic growth and fuel consumption. Brent crude futures rose 13 cents, or 0.2%, to $68.84 a barrel by 0411 GMT. U.S. West Texas Intermediate crude futures were up 25 cents, or...
Gold prices rose on Wednesday as investors digested data showing an increase in U.S. consumer prices last month and waited for further clarity on U.S. President Donald Trump's trade policy. Spot gold was up 0.4% at $3,334.12 per ounce, as of 0401 GMT. U.S. gold futures edged 0.1% higher to $3,340.90. "Gold at this moment is consolidating with a slight downward bias, especially with a stronger dollar," said Brian Lan, managing director at GoldSilver Central, Singapore. "However, many countries are still negotiating with the U.S. on the tariffs. There are still a lot of uncertainties in the...
EUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders' caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday. The Fed Beige Book and Industrial Production will also be eyed. However, the US Dollar may regain its ground as the US inflation report for June reignited concerns about prolonged high Federal Reserve (Fed) interest rates. The US Consumer Price Index (CPI) rose 2.7% year-over-year in June, matching market expectations. Core CPI came in...
Silver price (XAG/USD) gains ground after registering losses in the previous two sessions, trading around $37.80 per troy ounce during the Asian hours on Wednesday. The safe-haven demand for Silver grows amid uncertainty from tariffs. US President Donald Trump sent notified 25 countries of new tariff rates set to take effect on August 1st, including major trading partners Canada, Mexico, and the European Union (EU). Moreover, Trump said late Tuesday that letters notifying smaller countries, including nations in Africa and the Caribbean, of their US tariff rates would go out soon, per...
The Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday, with the USD/JPY bulls now awaiting a sustained strength beyond the 149.00 mark before placing fresh bets. Investors pared their bets for an immediate interest rate hike by the Bank of Japan (BoJ) amid concerns about the economic fallout from higher US tariffs. This, in turn, has been a key factor behind the JPY's relative underperformance since the beginning of this month. Adding to this, domestic political uncertainty ahead of the House of Councillors election on...
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 said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...