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 on Thursday, bolstered by rising tensions in the Middle East and a weaker dollar, while softer-than-expected U.S. inflation data boosted expectations of Federal Reserve rate cuts. Spot gold was up 0.6% at $3,372.46 an ounce, as of 0202 GMT. U.S. gold futures gained 1.5% to $3,393. The U.S. dollar index (.DXY), opens new tab fell to a near two-month low, making greenback-priced bullion more attractive to overseas buyers. The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that gold faced...
The dollar slid on Thursday on further signs that U.S. President Donald Trump may adopt a softer stance in tariff negotiations and heightened expectations of Federal Reserve rate cuts. Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher U.S. tariffs are imposed. U.S. Treasury Secretary Scott Bessent suggested earlier that the Trump administration may offer extensions from a July trade deal deadline for countries negotiating in good faith. The remarks renewed dollar weakness, lifting the euro to a seven-week high....
Oil rises in early Asian trade amid Middle East tensions that could lead to supply disruptions. The U.S. is moving to reduce its presence in parts of Middle East to essential personnel, State Department and Pentagon said Wednesday, as tensions in the region increase. Also, data released overnight by U.S. EIA showed commercial crude-oil stocks excluding Strategic Petroleum Reserve fell by 3.6 million barrels in the week ended June 6. Analysts surveyed by The Wall Street Journal had forecast a 1.6 million-barrel decline in crude stockpiles. Front-month WTI crude oil futures are 0.4% higher...
Gold edges higher in the early Asian session amid geopolitical tensions that typically enhance the safe-haven appeal of the precious metal. The U.S. is moving to scale down its presence in parts of Middle East to essential personnel, State Department and Pentagon said Wednesday, as tensions in the region rise. The tensions come before the sixth round of nuclear talks between the U.S. and Iran scheduled this weekend in Oman. Ongoing hostilities in the Middle East continue to weigh on investor confidence, says Bas Kooijman, CEO and Asset Manager of DHF Capital, in an email. Spot gold is 0.2%...
The EUR/USD surged during the North American session but remains shy of clearing the 1.1500 figure, following the release of a softer-than-expected inflation report in the United States (US), which could prompt the Federal Reserve (Fed) to reduce borrowing costs in the near term. At the time of writing, the pair trades at 1.1482, up by over 0.50%. US data revealed that the Consumer Price Index (CPI) in May fell short of estimates as prices continued to trend lower. Following the data release, US President Donald Trump posted on his social network that the Fed should lower the fed funds rate...
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...