U.S. President Donald Trump said on Tuesday that India will likely face trade tariffs of 20% to 25%, although a deal is yet to be finalized. The tariff level is far greater than the 15% duties recently imposed on Japan and the European Union, and comes despite earlier signaling from Trump that talks with India were progressing well. "I think so," Trump told reporters aboard Air Force One when asked if 20% to 25% was a possible tariff rate against India. A Reuters report earlier in the day suggested that India was likely to face the tariffs on some exports as a temporary measure. The...
GBP/USD plummeted over 1.2% on Tuesday, backsliding through near-term congestion and popping out the other side near the 1.3400 handle after global investors were knocked off their pre-seeded hopes that the Israel-Iran altercation would find a quick and peaceful resolution. Donald Trump, posting on social media Tuesday, declared that he wants an "UNCONDITIONAL SURRENDER" from Iranian supreme leader Ali Khamenei, and announced that American military assets were moving into the Middle East conflict region. The escalation between Israel and Iran, on top of Trump's decision to further involve...
The US Dollar rallied past 98.86, up 0.74% at four-day highs, despite US Treasury yields plunging. This move came despite the release of worse-than-expected US Retail Sales data in May and a softer reading on Industrial Production. On Wednesday, Initial Jobless Claims for the last week, Housing Starts, Building Permits, and the Federal Open Market Committee (FOMC) policy decision would set the tone for the Greenback. Consequently, most G8 forex currencies were laggards compared to the US Dollar. The EUR/USD fell below 1.1500 even though German ZEW figures were positive, and ECB's officials...
WTI crude oil futures rallied 4.3% to settle at $74.8 per barrel on Tuesday, as escalating tensions between the US and Iran reignited supply concerns. US President Donald Trump demanded Iran's "unconditional surrender" and directly threatened Supreme Leader Ayatollah Ali Khamenei, calling him "an easy target" in a series of social media posts. The gains reversed Monday's losses, which were driven by hopes of a ceasefire between Iran and Israel. Despite the latest escalation, the oil market has remained relatively stable, supported by strong global supply, including rising OPEC+ output and...
EUR/USD slipped below the key 1.1500 level on Monday, retreating from recent highs as geopolitical risks drove demand for the US Dollar. At the time of writing, EUR/USD is trading near 1.1481, with intraday losses nearing 0.70% The move followed comments from US President Donald Trump, who called for Iran's "unconditional surrender" on Tuesday and warned Tehran to dismantle its nuclear program or face escalating consequences. He praised Israeli airstrikes as "excellent" and "very successful," warning that future operations could be "even more brutal," and urged Tehran to "make a deal now"...
Oil prices climbed over 3% on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact. Brent crude futures gained $2.76, or 3.77%, to $75.99 a barrel by 12:56 p.m. CDT (1756 GMT). U.S. West Texas Intermediate crude was up $2.50, or 3.48%, at $74.26. While there was no noticeable interruption to oil flows, Iran partially suspended gas production at the South Pars field it shares with Qatar after an Israeli strike started a fire there on Saturday. Israel also hit the Shahran oil depot 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.
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...
U.S. President Donald Trump said on Tuesday that India will likely face trade tariffs of 20% to 25%, although a deal is yet to be finalized.
The tariff level is far greater than the 15% duties...