European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
The dollar index fell toward 99 on Monday, erasing gains from the previous week as investor sentiment soured amid renewed trade tensions. The decline followed President Donald Trump's announcement that the US will double tariffs on steel and aluminum imports to 50% starting June 4. Tensions with China also escalated after Beijing rejected Trump's claim that it had violated the trade agreement reached in Geneva last month, casting doubt on the likelihood of a near-term call between the two nations' leaders. Still, National Economic Council Director Kevin Hassett said over the weekend that...
The GBP/USD pair regains positive traction at the start of a new week amid renewed US Dollar (USD) selling, though it remains below the 1.3500 psychological mark during the Asian session. The Personal Consumption Expenditures (PCE) Price Index released on Friday pointed to further easing inflationary pressures in the US and bolstered the case for more policy easing by the Federal Reserve (Fed). Adding to this, concerns about the worsening US fiscal condition, fueled by the passage of US President Donald Trump's "Big Beautiful Bill," exert fresh downward pressure on the USD. The British...
The Japanese Yen (JPY) remains on the front foot against its American counterpart for the third consecutive day on Monday and seems poised to strengthen further amid a combination of supporting factors. The Tokyo Consumer Price Index (CPI) released on Friday indicated that core inflation accelerated more than expected in May and reaffirmed bets that the Bank of Japan (BoJ) will continue raising interest rates. Furthermore, persistent trade-related uncertainties and geopolitical risks turn out to be key factors underpinning the safe-haven JPY. Meanwhile, comments from Japan's top trade...
Oil prices rebounded more than $1 a barrel on Monday after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, in line with market expectations. Brent crude futures climbed $1.19, or 1.9%, to $63.97 a barrel by 0044 GMT after settling 0.9% lower on Friday. U.S. West Texas Intermediate crude was at $62.09 a barrel, up $1.30, or 2.14%, following a 0.3% decline in the previous session. Both contracts were down more than 1% for the week. The Organization of the Petroleum Exporting Countries and their allies decided on Saturday to raise output...
The Australian dollar rose to around 0.646 on Monday, supported by a weakening greenback amid investor concerns over US President Donald Trump's tariff measures. On Friday, Trump announced plans to double tariffs on steel and aluminum imports from 25% to 50% effective June 4. The announcement, along with escalating US–China trade tensions, deepened investor anxiety over slowing growth and mounting inflationary pressures. In Australia, data showed the manufacturing sector weakened for the second consecutive month in May, falling to its lowest level since February a sign of slowing...
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 locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...