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 US dollar (USD) traded slightly weaker on Tuesday (July 15th) as investors prepared for the highly anticipated release of the US Consumer Price Index (CPI). With market participants repositioning ahead of key inflation data, the greenback struggled to maintain its gains from the previous day. The US Dollar Index (DXY) traded slightly lower, holding near the psychological 98.00 level during the European session. Although the index remains supported, it faces key technical resistance at current levels, preventing traders from placing aggressive bets. The broader market mood remains...
Oil prices plummeted 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 existing supply concerns. Brent crude futures fell 56 cents, or 0.8%, to $68.65 a barrel at 07:36 GMT, while U.S. West Texas Intermediate crude fell 62 cents, or 0.9%, to $66.36. "The focus was on Donald Trump, there were concerns he might soon impose sanctions on Russia, and now he's given another 50 days," said Giovanni Staunovo, a commodities analyst at UBS. "Concerns about imminent additional tightening in the market have...
Gold prices rose on Tuesday (July 15th) as concerns over a global trade war fueled demand for safe-haven assets, while investors awaited key US inflation data. Spot gold rose 0.5% to $3,361.39 per ounce, as of 08:16 GMT. US gold futures rose 0.3% to $3,370.40. The US dollar (.DXY), opened in a new tab, fell 0.1%, making gold cheaper for buyers holding other currencies. "Gold strengthened as bullish investors looked to capitalize on the slightly weaker dollar today," said Han Tan, chief market analyst at Nemo.Money. "Gold is enjoying a multitude of supporting factors, ranging from...
Silver prices (XAG/USD) recovered from their latest decline from the previous session, rebounding toward a 14-year high of $39.13, reached on Monday (July 15th), and traded around $38.40 per troy ounce during the European session on Tuesday. Silver prices strengthened as traders remained cautious ahead of the June US Consumer Price Index (CPI) data, which may provide fresh insight into the Federal Reserve's monetary outlook. Silver attracted sellers as Federal Reserve Chairman Jerome Powell indicated that inflation is expected to rise over the summer, driven by tariff-related pressures....
The dollar traded in a tight range ahead of key US inflation data that may influence monetary policy and shape discussions around Federal Reserve leadership. The Bloomberg Dollar Spot Index edged down 0.1% Dollar-yen was sold on fix flows and in view of Japan's 10-year government bond yield touching the highest level since 2008, according to an Asia-based FX trader Commodity currencies edged higher after data show China's economic growth exceeded expectations in the second quarter, with gross domestic product expanding 5.2% in April-June from a year...
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...