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 inched up on Wednesday as investors considered supply risks after the U.S. barred Chevron (NYSE:CVX) from exporting crude from Venezuela under a new asset authorisation, though expectations of more output from OPEC+ continued to limit gains. Brent crude futures rose 7 cents, or 0.1%, to $64.16 a barrel by 0640 GMT, while U.S. West Texas Intermediate crude gained 9 cents, or 0.2%, at $60.98 a barrel. The Trump administration has issued a new authorisation for U.S.-major Chevron that would allow it to keep assets in Venezuela but not to export oil or expand its activities, Reuters...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is steadying after registering more than 0.50% gains in the previous session. The DXY is trading around 99.60 during the European hours on Wednesday. Traders await the FOMC Minutes due later in the North American session. The US Dollar is gaining support amid growing optimism among US consumers following the Conference Board's Consumer Confidence Index rising to 98.0 in May from the previous 86.0 reading. Additionally, the emergence of bond market optimism is supporting the Greenback,...
Gold prices fell in Asian trade on Wednesday, remaining under pressure from improved risk appetite after U.S. President Donald Trump postponed plans to impose steep trade tariffs on the European Union. Gold and broader metals were also pressured by a mild recovery in the dollar, which came amid some signs of stability in the Treasury market. But bullion still remained relatively underpinned by uncertainty over U.S. trade and fiscal health, with focus on more U.S. trade deals and the progress of a divisive tax cut bill backed by Trump. Spot gold steadied at $3,301.96 an ounce, while gold...
The GBP/USD pair attracts some sellers to around 1.3480 during the Asian trading hours on Wednesday. The Greenback strengthens against the Pound Sterling (GBP) on the encouraging economic signs in the United States (US). Data released by the Conference Board on Tuesday showed that the US Consumer Confidence Index rose to 98.0 in May from 86.0 in April (revised from 85.7). The Minutes of the Federal Open Market Committee (FOMC) will take center stage later on Wednesday. The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of...
The Australian Dollar (AUD) extends its losses against the US Dollar (USD) on Wednesday for the third successive session. The AUD/USD pair loses ground after the release of the Monthly Consumer Price Index (CPI). However, the Australian Bureau of Statistics reported that monthly inflation, in the price of a fixed basket of goods and services acquired by household consumers, steadied at 2.4% year-over-year in April, surpassing the expected 2.3% increase. The AUD/USD pair depreciates as the US Dollar receives support from a dovish tone surrounding the US yields, driven by Japan's indication...
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...