President Donald Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. Trump told reporters his administration will notify some 200 countries soon of their new "world tariff" rate. "I would say it'll be somewhere in the 15 to 20% range," Trump told reporters, sitting alongside British Prime Minister Keir Starmer at his luxury golf resort in Turnberry, Scotland. "Probably one of those two numbers." Trump, who has vowed to end...
Gold prices rose to a one-week high on Thursday, boosted by softer US inflation data that reinforced expectations of a Federal Reserve interest rate cut this year, while investors eyed a raft of other inflation data for further direction. Spot gold was up 0.2% at $3,360.29 per ounce, as of 0838 GMT, after hitting its highest since June 5 the previous day. U.S. gold futures were up 1.1% at $3,380.00. The U.S. dollar index (.DXY), fell 0.3% to a near two-month low. A weaker dollar makes bullion cheaper for buyers holding other currencies. "Gold remains on the back foot... with a break...
The US dollar was among the weakest G8 currencies on Thursday (6/12). Risk-off sentiment fueled by US President Trump's fresh tariff threats, coupled with higher expectations of a Fed rate cut, pushed the USD lower against the safe-haven Japanese yen. US CPI figures released on Wednesday revealed that inflation grew at a 0.1% pace in May and 2.4% year-on-year, below the 0.2% and 2.5% increases expected by market analysts, respectively. The figures have eased concerns about the inflationary impact of Trump's "Liberation Day" tariffs and raised expectations that the Fed will cut rates again...
The pound (GBP) fell sharply against other major currencies on Thursday (6/12) as the U.K. Office for National Statistics (ONS) reported that the economy shrank at a faster-than-expected pace in April. According to the report, U.K. Gross Domestic Product (GDP) shrank by 0.3% month-on-month in April, faster than the 0.1% expected in March. In March, the GDP growth rate was 0.2%. The country's stronger-than-expected economic downturn is expected to force Bank of England (BoE) officials to reassess their "gradual and cautious" monetary expansion guidance, which they delivered in May after...
Silver (XAG/USD) prices extended its correction for the third trading day, dropping nearly 1.5% to near $35.50 during European trading hours on Thursday (6/12). The white metal corrected after failing to extend its more than a decade-high of $36.90 recorded on Monday. The asset faced sharp selling pressure despite the escalating tensions in the Middle East. According to officials in the United States (US) and Europe, Israel appears to be preparing to launch an attack on Iran soon, The New York Times reported. Meanwhile, Washington has announced that it will reduce the number of personnel...
Most Asian currencies rose on Thursday, led by gains in the South Korean won and the Japanese yen as the U.S. dollar weakened after President Donald Trump took a softer stance while affirming progress in U.S.-China trade negotiations. The US Dollar Index, which measures the greenback against a basket of major currencies, slid 0.3% in Asia hours, reaching its lowest level in over six weeks. The moves were also affected by expectations of Federal Reserve interest rate cuts this year after a benign consumer inflation print. US Dollar Index Futures were also trading 0.3% lower. Investors...
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 United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President Donald Trump announced Sunday while in Scotland.
The...