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,...
EUR/USD fell below 1.1300 during the North American session as the US Dollar (USD) remained firmer following the release of the Federal Reserve's (Fed) latest meeting minutes. High US bond yields and a slightly downbeat mood have pushed the greenback higher against most G7 currencies. On May 6-7, the Fed decided to keep interest rates unchanged, citing uncertainty about the impact of tariffs on the economy. The minutes revealed that policymakers were concerned that inflation could become more persistent, driven by the Trump administration's inflation-prone trade policies. The policymakers...
Oil prices rose more than 1% on Wednesday on supply concerns as OPEC+ agreed to leave its output policy unchanged and as the U.S. banned Chevron (CVX.N), opening up new opportunities to export Venezuelan crude. Investors had anticipated OPEC+ members would agree to increase output later this week. Brent crude futures settled up 81 cents, or 1.26%, at $64.90 a barrel. U.S. West Texas Intermediate crude rose 95 cents, or 1.56%, to $61.84 a barrel. OPEC+, the Organization of the Petroleum Exporting Countries and its allies, left output policy unchanged. They agreed to establish a mechanism...
Gold prices were little changed, trading around $3,300 an ounce on Wednesday as investors digested the minutes from the Federal Reserve's May meeting, which revealed growing concerns about inflation and a weakening labor market, in part due to trade tensions and proposed tariffs. The Fed maintained a cautious stance, opting to hold interest rates steady for a third straight meeting while acknowledging rising economic uncertainty and risks to inflation and employment. While the economy remains solid, officials have warned of lower growth forecasts and rising recession risks. Gold, up 26%...
Oil prices rose as markets weighed the risk of additional U.S. sanctions on Russia and the possibility that nuclear talks with Iran would fail to produce a deal. West Texas Intermediate crude rose more than 2% to $62 a barrel after President Donald Trump said Russian President Vladimir Putin was "playing with fire" by escalating attacks on Ukraine. The U.S. is considering additional sanctions on the country after aggressive actions against Russia's oil industry earlier this year sent crude surging past $80 a barrel. Russia-Ukraine talks are set to be held in Istanbul on June 2, according to...
Gold fluctuated after a two-day decline as markets remained in wait-and-see mode despite data showing improving economic sentiment and signs of progress in trade talks. Bullion fell as much as 0.3% after earlier rising as much as 0.7%, while the dollar wavered and Treasury yields edged higher. Investors weighed improving trade relations between Washington and Brussels. The European Union's trade chief, Maros Sefcovic, said he planned to speak with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer on Thursday, as the EU has sought to speed up negotiations...
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...