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 U.S. dollar rose for a second day on Wednesday on optimism that a trade deal will brighten the U.S. economic outlook, while the Japanese yen weakened after the government saw weak demand for 40-year bonds. Pessimism about the U.S. economy has eased after Trump delayed plans to impose 50% tariffs on European Union imports over the weekend and following a deal with China earlier this month to reduce tariffs imposed on each other. "The quick reversal of tariff threats against Europe over the weekend has improved risk appetite and reduced negative perceptions about the U.S. growth...
The dollar index edged up to 99.7 on Wednesday, extending a nearly 0.4% gain from the previous session, as traders awaited fresh catalysts while continuing to monitor trade tensions and fiscal developments under the Trump administration. Despite the recent uptick, the greenback remains near its 2023 lows reached in April and is down more than 7% year-to-date. On Sunday, President Trump postponed the implementation of a planned 50% tariff on EU imports to July 9th, just days after announcing the sweeping measure. Meanwhile, his so-called "big beautiful bill" narrowly passed the House of...
Oil prices inched up on Wednesday, with the U.S. barring Chevron (CVX.N), opens new tab from exporting crude from Venezuela and production shut-ins from Canada, while markets eyed an expected production increase from OPEC+. Brent crude futures rose 54 cents, or 0.8%, to $64.63 a barrel by 1050 GMT, while U.S. West Texas Intermediate crude gained 64 cents, or 0.9%, to stand at $61.45 a barrel. The Trump administration has issued a new authorisation for U.S.-major Chevron (CVX.N), opens new tab that would let it keep assets in Venezuela but not export oil or expand activities, Reuters...
Gold firmed on Wednesday as investors bought the dip after prices declined in the previous session, while markets awaited minutes of the Federal Reserve's latest policy meeting and economic data for insights on the U.S. interest rate outlook. Spot gold was up 0.6% to $3,319.61 an ounce, as of 1029 GMT. Bullion fell below the $3,300 level and hit a low of $3,285.19 in the previous session. U.S. gold futures rose 0.6% to $3,318.60. "Gold is rebounding mainly due to bargain hunting after a sharp drop in the previous session," said Jigar Trivedi, senior commodity analyst at Reliance...
The Pound Sterling (GBP) recoups initial losses against the US Dollar (USD) during European trading hours on Wednesday after correcting to near 1.3460 earlier in the day. The GBP/USD pair bounces back as the US Dollar (USD) gives up initial gains despite firm hopes that the United States (US) and the European Union (EU) will reach a trade deal soon. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, falls back to near 99.50 from the intraday high of 99.85. On Tuesday, US President Donald Trump expressed confidence in a post on Truth.Social that the...
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...