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 US dollar index rose to around 99.7 on Wednesday, extending gains from the previous session as improving US consumer confidence bolstered sentiment toward the greenback. Market optimism was further supported by President Trump's decision to delay a planned 50% tariff on the EU, easing concerns over escalating trade tensions and improving the outlook for US assets. Meanwhile, European leaders have reportedly asked top companies and CEOs to outline their US investment plans ahead of upcoming trade negotiations with Washington. On the monetary policy front, Minneapolis Fed President Neel...
Gold edged up 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 prices were trading near $3,309 an ounce after falling 1.3% on Tuesday as U.S. consumer confidence rose sharply in May from a near five-year low, signaling a more positive outlook for the economy and labor market. The dollar rose after the data, making bullion more expensive for most buyers. Investors also weighed improving trade relations between Washington and Brussels, with U.S. President Donald Trump saying he...
The EUR/USD pair dipped below 1.1400 for the second straight day, boosted by the recovery of the US Dollar (USD) following an upbeat Consumer Confidence report. Additionally, weak inflation data in France weakened the common currency, which was trading on Tuesday at 1.1335, down more than 0.40%. Risk appetite improved as market participants digested news that US President Donald Trump said trade talks between the United States (US) and the European Union (EU) were gaining strength following his threat of 50% tariffs last Friday. Although he backed off, leaving some room for negotiations, it...
Oil prices fell 1% on Tuesday as investors worried about a supply glut after Iranian and U.S. delegates made progress in their talks and expectations that OPEC+ would decide to raise output at a meeting this week. Brent crude futures settled down 65 cents, or 1%, at $64.09 a barrel, while U.S. West Texas Intermediate crude fell 64 cents, or about 1.04%, to $60.89 a barrel. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are not expected to change policy at a meeting on Wednesday. However, another meeting on Saturday is likely to agree on a further...
Gold fell for a second straight session on Tuesday, as risk sentiment improved following U.S. President Donald Trump's decision to delay tariffs on the European Union. Spot gold fell 1.2% to $3,302.10 an ounce by 2:03 p.m. ET (1802 GMT) after rising nearly 5% last week. U.S. gold futures settled 1.9% lower at $3,300.40. "There's a lot of volatility in gold prices because we keep getting changes on tariffs. Right now, the market is probably under the impression that there's a deal to be reached and that's weighing on gold," said Bart Melek, head of commodity strategies at TD Securities. A...
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...