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 continues its losses for the second successive day, trading around 1.1310 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) draws support and as US yields depreciate following Japan's indication of potential cuts in government debt issuance, which has boosted global bond markets. At the time of writing, the 10- and 30-year yields on US Treasury bonds are standing at 4.46% and 4.97%, respectively. Additionally, the Greenback received support as the Conference Board's Consumer Confidence Index rose to 98.0 in May from the previous 86.0...
Gold price (XAU/USD) struggles to capitalize on a modest Asian session uptick and currently trades just below the $3,300 mark, close to the weekly low touched the previous day. Better-than-expected US economic data released on Tuesday calmed recession fears and assisted the US Dollar (USD) in attracting buyers for the second straight day, which, in turn, is seen undermining the commodity. Apart from this, a generally positive risk tone turns out to be another factor acting as a headwind for the safe-haven precious metal. However, the uncertainty surrounding US President Donald Trump's...
Silver price (XAG/USD) recovers its recent losses registered in the previous session, trading around $33.30 per troy ounce during the Asian hours on Wednesday. However, the precious metals, including Silver, faced selling pressure amid a strengthening US Dollar (USD). The dollar-denominated Silver lost its shine as a higher US Dollar makes it expensive for foreign buyers. The Greenback received support after Japan hinted at potential cuts in government debt issuance, boosting global bond markets and putting downward pressure on US yields. At the time of writing, the 10- and 30-year yields...
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 25 cents, or 0.4%, to $64.34 a barrel by 0345 GMT, while U.S. West Texas Intermediate crude gained 24 cents, or 0.4%, at $61.13 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,...
The Japanese yen weakened past 144.5 per dollar on Wednesday, marking its third straight session of losses as investors digested recent comments from top policymakers and developments in the bond market. BOJ Governor Kazuo Ueda noted that ongoing trade negotiations with the US are contributing to a highly uncertain outlook. He previously reiterated the central bank's willingness to adjust monetary policy as needed to ensure inflation targets are achieved. Finance Minister Katsunobu Kato added that authorities are closely monitoring conditions in the bond market. On Tuesday, both the yen...
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...