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...
The Australian dollar strengthened to around $0.653 on Wednesday, snapping a three-day losing streak, as investors turned their attention to Thursday's labor market data, which could provide fresh insight into the near-term policy outlook. The Reserve Bank of Australia has recently adopted a cautious, data-driven stance, citing a more balanced inflation outlook and ongoing labor market resilience. And a robust jobs report could cast doubt on the 80% market-implied probability of a rate cut at next month's meeting. Markets are currently expecting a gain of 20,000 jobs in June and an...
The U.S. dollar rose alongside Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices. Rising prices on goods as varied as coffee, audio equipment and home furnishing pulled the inflation rate higher in June, with substantial increases in prices of the heavily imported items. That pushed the dollar and bond yields higher as investors pared back expectations of Federal Reserve interest rate cuts this year. The jump in the dollar was most apparent...
Gold edged higher after a slew of tariff-related announcements from President Donald Trump signaled concerns over the impact of a potential global trade war remain, giving support to the haven asset. Bullion ticked up to about $3,330 an ounce after closing 0.6% lower on Tuesday. Trump said he had reached a deal with Indonesia, imposing 19% tariff on country. The president also said levies on pharmaceuticals were likely as soon as the end of the month, while rates on semiconductors were also looming. Meanwhile, the US opened an investigation into Brazil about its "unfair" trade...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.70 during the early Asian trading hours on Wednesday. The WTI price edges lower amid easing concerns about supply disruption after US President Donald Trump gives a 50-day deadline for Russia to end the war in Ukraine. Trump late Monday announced new weapons for Ukraine and threatened sanctions on buyers of Russian exports unless Russia agrees to a peace deal in 50 days. The WTI price loses ground as the 50-day deadline raises hopes that sanctions could be avoided. US crude oil inventory unexpectedly rose last...
Gold price tumbled on Tuesday, down more than 0.40% following the release of the latest inflation report in the United States (US), which boosted the US Dollar to the detriment of the precious metal. Comments by US President Donald Trump and risk aversion, instead of driving Bullion prices higher, weighed on the precious metal, which trades at $3,329 after hitting a daily peak of $3,366. The market mood is mixed, with US equities fluctuating between gains and losses following the release of the June Consumer Price Index (CPI). Headline and core figures on an annual basis rose, signaling...
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...