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 fell 1.5% on Tuesday, boosted by concerns about a supply glut after Iranian and U.S. delegates made some progress in their talks and expectations that OPEC+ will decide to raise output at a meeting later this week. Brent crude futures were down 99 cents, or 1.5%, at $63.73 a barrel by 1457 GMT. U.S. West Texas Intermediate crude was down $1.02, or about 1.7%, at $60.48 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...
Gold fell as the dollar strengthened and demand for safe-haven assets waned, with investors also weighing the prospect of improving trade relations between the U.S. and the European Union. Bullion fell 1.5% as signs that Japan may be ready to adjust its debt issuance boosted global bonds and the U.S. currency. A stronger dollar makes gold more expensive for buyers in other currencies, while lower yields on non-interest-bearing debt reduce the appeal of the precious metal. Investors are also less fearful of risk as the EU and U.S. signaled a willingness to end a standoff and work toward a...
Oil prices were little changed on Tuesday as easing trade war concerns offset expectations OPEC+ will decide to increase output at a meeting later this week. Brent crude futures were down 28 cents, or 0.4%, at $64.46 a barrel by 1154 GMT, while U.S. West Texas Intermediate (WTI) crude fell 33 cents, or 0.5%, to $61.20 a barrel. Easing trade war concerns are lifting prices, but the upside remains limited until it is clear what the OPEC+ will decide on Saturday, said UBS analyst Giovanni Staunovo. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will...
Gold prices declined more than 1% on Tuesday as the dollar's reversal to trade higher added to the pressure on the safe-haven asset following U.S. President Donald Trump's less aggressive trade stance towards the European Union. Spot gold was down 1.6% at $3,289.93 an ounce as of 1155 GMT. U.S. gold futures fell 2.3% to $3,287.80. Prices had softened on Monday as well after Trump, on Sunday, retreated from his threat to impose new tariffs on the European Union next month, instead reinstating a July 9 deadline for trade negotiations. "Gold trades lower for a second day with technical...
The U.S. dollar edged lower at the start of the week, weighed down by lingering deficit concerns and renewed trade tensions, despite U.S. President Donald Trump backing away from a proposed 50% tariff on European Union (EU) goods. According to ING, markets had already moved past April's tariff-related risks, instead focusing on the potential for trade deals in the months ahead. However, the latest standoff with the EU has brought those fears back into view. "If there's a lesson from April, it's that the dollar bears the brunt of tariff drama," the bank said. ING analysts noted that...
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...