The United States and the European Union agreed on a framework trade deal to end months of uncertainty for industries and consumers. The two sides aim to produce a joint statement to clarify what they have agreed to, but here are the main elements of the deal that will enter into force on August 1 through an executive order by President Donald Trump, according to EU officials: * BASELINE TARIFF RATE: Almost all EU goods entering the U.S. will be subject to a 15% baseline tariff. The 15% tariff is not added to any existing rates. * CARS: Cars and car parts will be subject to the 15%...
Gold price registers modest gains on Thursday as geopolitical tensions rose due to increasing rumors that the United States (US) might become involved in the Israel–Iran conflict. Nevertheless, a slightly hawkish Federal Reserve (Fed) caps the golden metal's advance. At the time of writing, XAU/USD trades at $3,373, up 0.13%. Geopolitics continued to drive Gold's price action due to reports from several US news websites like The Wall Street Journal and CBS News revealing that plans of a US attack on Iran nuclear facilities had been approved by US President Donald Trump, who is weighing his...
Gold (XAU/USD) is trading within a tight range on Thursday, consolidating between $3,360 and $3,400. These levels have repeatedly served as key short-term support and resistance over recent sessions. With the United States (US) observing the Juneteenth holiday, lower trading volumes have resulted in subdued price movements, although underlying risks remain pronounced. Geopolitical tensions persist as significant drivers of Gold prices. Russia has issued a stark warning against potential US military involvement in Iran, describing it as an "extremely dangerous step" with "unpredictable...
The Silver (XAG/USD) edges lower for the second consecutive day on Thursday, retreating from a fresh multi-year high of $37.32 touched on Wednesday, as traders lock in profits following the Federal Reserve's (Fed) cautious policy pause. The Fed held rates steady but signaled that borrowing costs may remain elevated for longer, giving the US Dollar some breathing room and weighing slightly on precious metals. At the time of writing, XAG/USD is down about 1.10% on the day as the metal backs away from its highest level since 2012, drifting lower during the American session to trade near...
The Pound Sterling (GBP) faces selling pressure against its major peers on Thursday as the Bank of England's (BoE) leaves interest rates steady at 4.25%. The BoE was expected to do so as it guided a "gradual and careful" stance to the monetary expansion path in the May policy meeting, following an interest rate reduction by 25 basis points (bps). Investors expected the BoE to leave borrowing rates steady at 4.25%, with a 7-2 majority. However, three Monetary Policy Committee (MPC) members: Swati Dhingra, Dave Ramsden and Alan Taylor have supported for an interest rate cut. These members...
Gold price (XAU/USD) trades in a limited range below the round-level resistance of $3,400 during European trading hours on Thursday. The upside in the yellow metal appears to have been capped by upwardly revised interest rate target for 2026 and 2027 by the Federal Reserve (Fed) on Wednesday, following leaving them unchanged in the range of 4.25%-4.50% for the fourth straight meeting. The Fed warned of increasing upside risks to inflation due to the imposition of tariff policy by Unted States (US) President Donald Trump raised inflation target for 2026 and 2027 to 3.6% and 3.4%,...
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 European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of their ongoing trade deal, EU Trade Commissioner...