Orders placed with US factories for business equipment unexpectedly declined in June, suggesting companies remained cautious about capital spending due to trade and fiscal policy uncertainty. The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military hardware, decreased 0.7% last month after an upwardly revised 2% gain in May, Commerce Department figures showed Friday. Bookings for all durable goods — items meant to last at least three years and including orders for commercial aircraft and military equipment — fell...
Gold prices eked out gains on Tuesday, buoyed by a lower dollar, while investors cautiously turned their attention to further developments in Russia-Ukraine peace talks and U.S. tariff policy. Spot gold was up 0.2% at $3,236.94 an ounce as of 1102 GMT. U.S. gold futures gained 0.2% to $3,239.40. The dollar index opens new tab was down 0.2% against its rivals, making gold less expensive for other currency holders. "Main focus of traders in the gold market today is on the optimism around the US-China trade and also on renewed hopes for progress towards peace in the Russia-Ukraine conflict,"...
EUR/USD gains further to near 1.1250 in Tuesday's European session, following the previous day's upside move. The major currency pair remains on the frontfoot as the United States (US) Sovereign Credit downgrade by Moody's continues to batter the US Dollar (USD), with the US Dollar Index (DXY) extending its downside to near 100.00. On Friday, Moody's downgraded the US credit rating by one notch to Aa1 from Aaa. This move shifted the focus of financial market participants to the growing $36 trillion US government debt pile and fiscal imbalances, which would lead to a long-term increase in...
Silver prices were near the $32.4 per ounce on Tuesday, trading with marginal gains for a second session and remaining around 12% higher year-to-date gain amid higher demand for silver as bullion and its industrial uses. Precious metals remained supported by the outlook of lower interest rates by major central banks, which reduce the opportunity cost of holding assets without any yield. Softer inflation prints maintained bets of two rate cuts by the Fed this year, while the BoE cut its benchmark rate and the PBoC reduced the rate on liquidity operations. In the meantime, higher...
Oil prices slipped on Tuesday as traders weighed the impact on supply from Russia-Ukraine peace talks and US-Iran negotiations, strong front-month physical demand in Asia and a cautious outlook for China's economy. Brent futures for July dipped 19 cents to $65.35 a barrel by 0625 GMT. June U.S. West Texas Intermediate crude futures, which expire on Tuesday, gained 3 cents to $62.72, while the more active July contract slipped 17 cents to $61.97 a barrel. Discussions on Iran's nuclear programme would "lead nowhere" if Washington insisted that Tehran slash uranium enrichment activity...
Gold prices eased on Tuesday, as a slightly firmer dollar and optimism over a potential ceasefire between Russia and Ukraine dampened demand for safe-haven assets. Spot gold was down 0.5% at $3,214.17 an ounce as of 0627 GMT. U.S. gold futures slipped 0.6% to $3,215.60. The dollar slightly recovered after touching a more-than-one-week low in the prior session, making greenback-priced gold less appealing to holders of other currencies. "We are seeing a knee-jerk response to the U.S. credit downgrade wear off and there's some hope of a truce between Ukraine and Russia," said Kyle Rodda,...
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...