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 (AUD) weakened further against the US Dollar (USD) on Tuesday following the release of US inflation data that dampened hopes for a near-term interest rate cut. The Greenback surged across the board, pushing AUD/USD to 0.6510 during the American trading session. US Consumer Price Index (CPI) rose 0.3% in June from the previous month, slightly above the 0.2% consensusand 2.7% YoY, surpassing May's 2.4% print. It marked the fastest pace since January and signaled that underlying price pressures remain sticky despite the Fed's tightening efforts. The data prompted a sharp...
The Swiss Franc (CHF) weakens against the US Dollar (USD) on Tuesday, as traders flock to the Greenback in response to hotter-than-expected US inflation data. The Consumer Price Index (CPI) figures reignited bets that the Federal Reserve may delay its first interest rate cut, boosting US Treasury yields and driving broad-based demand for the US Dollar, with USD/CHF climbing above the 0.8000 mark for the first time since late June. At the time of writing, the USD/CHF pair is trading near 0.8021, up over 0.50% on the day. The latest US inflation data showed that prices continued to rise in...
The US dollar index initially dipped but later rebounded to trade above 98.4 on Tuesday, as the CPI report did little to shift market expectations regarding the Fed's next policy moves. Headline inflation rose in line with expectations on both an annual and monthly basis, while core inflation came in softer than forecast, suggesting price pressures, particularly those stemming from recently imposed tariffs, were limited for now. Following the data, traders modestly increased their expectations for interest rate cuts, but markets are still pricing in two reductions in the federal funds rate...
Gold prices weakened slightly on Tuesday (July 15th) as market participants awaited tariff updates, while inflation reports showed a long-anticipated increase in US consumer prices last month. Spot gold prices fell 0.2% to $3,336.99 an ounce, as of 9:40 a.m. EDT (1:40 p.m. GMT). US gold futures fell 0.4% to $3,345. The US dollar strengthened 0.2%, making gold more expensive for holders of other currencies. "I think the market continues to focus on tariffs, which is keeping gold strong. I remain bullish on gold, even though we're in the range that's been in place since mid-May," said Peter...
Oil prices were little changed on Tuesday (July 15) after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end its war in Ukraine and avoid sanctions eased immediate supply concerns. Brent crude rose 1 cent to $69.22 a barrel at 12:01 GMT. U.S. West Texas Intermediate crude fell 7 cents to $66.91. "The focus is on Donald Trump. There were concerns he might soon impose sanctions on Russia, and now he's given another 50 days," said UBS commodities analyst Giovanni Staunovo. "Concerns about imminent additional tightening in the market have eased. That's the main news." Oil...
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...