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,...
Oil prices fell more than 1% on Thursday, retreating from earlier gains, as investors weighed the potential impact of a US court ruling blocking President Donald Trump's most sweeping tariffs. The market was also watching for potential new US sanctions curbing Russian crude flows and a decision by OPEC+ to raise output in July. Brent crude futures settled down 75 cents, or 1.2%, at $64.15 a barrel. U.S. West Texas Intermediate crude fell 90 cents, or 1.5%, to $60.94 a barrel. Prices had earlier risen after a US court ruled Wednesday that Trump had exceeded his authority by imposing...
Gold prices rebounded from a weekly low of $3,245 and climbed past $3,300 on Thursday, helped by a weaker US jobs report, as markets cheered a US court's decision to block US President Donald Trump's tariffs. At the time of writing, XAU/USD was trading at $3,318, up 0.94%. The US Labor Department revealed that the number of Americans filing for unemployment benefits exceeded estimates and the previous week's report. The report adds pressure on the Federal Reserve (Fed) to ease policy as the risk of high unemployment has increased. This, along with confirmation of a contraction in US Gross...
Oil fell as weak U.S. economic data and concerns about rising supplies eroded risk sentiment from a court ruling blocking most Trump administration tariffs. West Texas Intermediate fell as much as 2.1% to trade near $61 a barrel after Interfax quoted Kazakhstan as saying OPEC+ would raise output at its meeting on Saturday, with the size of the increase still to be decided. The broader market eased from earlier highs on data showing the U.S. economy shrank at the start of the year, further pressuring commodities. Crude had earlier rallied after a trade court blocked a range of President...
Gold rose as the dollar gave up short-lived gains from a court ruling that struck down President Donald Trump's global tariff agenda. Bullion rose as much as 1.3%, erasing losses suffered during a brief rally in the U.S. currency as a weaker dollar made the precious metal more attractive to buyers in other countries. The dollar gauge fell 0.4%. The dollar initially gained after the U.S. Court of International Trade ruled that many of Trump's tariffs were illegal. But strategists warn that there are many alternative routes the president can take to ensure his signature economic policies are...
Oil prices rose on Thursday after a U.S. court blocked most of President Donald Trump's tariffs, while the market was watching out for potential new U.S. sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July. Brent crude futures were up 19 cents, or 0.3%, to $65.09 a barrel at 1215 GMT. U.S. West Texas Intermediate crude was up 24 cents, or 0.4%, to $62.08 a barrel. A U.S. trade court on Wednesday ruled that Trump overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. The court was not asked to address some...
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...