European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US President Donald Trump. They acknowledged what they considered an unbalanced deal, but managed to avoid a deeper trade war. The agreement announced Sunday between the two countries, which account for nearly a third of global trade, will see the US impose 15% import tariffs on most EU goods – half the threatened tariffs, but much higher than Europe had hoped. However, many specific details of the deal remain unknown. "While awaiting the full...
Oil prices hit multi-week highs on Monday, buoyed by a weaker U.S. dollar, while investors awaited news from U.S.-China trade talks in London in hopes a deal could boost the global economic outlook and subsequently fuel demand. Brent crude futures settled 57 cents higher, or 0.9%, to $67.04 a barrel. During the session, the benchmark rose to $67.19 a barrel, the highest since April 28. U.S. West Texas Intermediate crude rose 71 cents, or 1.1%, to $65.29. The contract reached $65.38 a barrel during the session, the highest since April 4. A weaker U.S. dollar gave some support to oil...
XAG/USD hit another 13-year high to kick off the new trading week, testing above $36.80 per ounce and laying fresh tracks toward $37.00/oz as metals investors bank on a perfect storm of factors to continue pushing Silver prices into their highest bids since early 2012. The US Dollar (USD) continues to get pummeled across the global FX market, with the US Dollar Index (DXY) stuck near multi-year lows. A weaker Greenback is helping to bolster spot Silver prices, with further support coming from ongoing market hopes for Federal Reserve (Fed) rate cuts sometime this year. Industrial demand for...
Oil prices hit multi-week highs on Monday, buoyed by a weaker U.S. dollar, while investors awaited news from U.S.-China trade talks in London in hopes a deal could boost the global economic outlook and subsequently fuel demand. Brent crude futures settled 57 cents higher, or 0.9%, to $67.04 a barrel. During the session, the benchmark rose to $67.12 a barrel, the highest since April 28. U.S. West Texas Intermediate crude rose 71 cents, or 1.1%, to $65.29. The contract reached $65.38 a barrel during the session, the highest since April 4. A weaker U.S. dollar gave some support to oil...
Gold prices posted solid gains on Monday as the US Dollar weakened during the North American session despite positive news regarding US-China trade talks. A retracement of US Treasury bond yields underpins the golden metal, which trades at $3,329 a troy ounce at the time of writing. An improvement in risk appetite was not an excuse for Bullion buyers to extend the XAU/USD uptrend despite the reduced demand for safe haven assets. A Wall Street Journal article mentioned that US President Donald Trump granted some flexibility on export controls to US Treasury Secretary Scott Bessent as talks...
The dollar fell against all major currencies on Monday, as cheer over a better-than-expected U.S. jobs report turned to caution ahead of crucial U.S.-China trade talks due in London later in the day. The talks come at a crucial time for both economies, with China grappling with deflation and trade uncertainty sapping sentiment among U.S. businesses and consumers, prompting investors to reassess the dollar's safe-haven status. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are expected to represent the U.S. at the talks, while...
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...