The European Union and the US are moving toward a deal that would impose 15% tariffs on most products, according to diplomats briefed on the negotiations. Member states are likely ready to accept 15% tariffs, and EU officials are pushing for them to cover sectors including autos, diplomats said. Steel and aluminum imports above a certain quota would be subject to a 50% duty, one diplomat added. Diplomats said that while the EU is optimistic that a deal can be reached, they are also cautious that any final agreement would require the approval of US President Donald Trump, and his final...
Silver price (XAG/USD) bounces back to near $32.00 during European trading hours on Thursday after sliding to near the monthly low around $31.65 earlier in the day. The outlook of the Silver price remains bearish as trade relations between the United States (US) and China have improved further. During European trading hours, US Treasury Secretary Scott Bessent signaled more talks with China to avoid trade tensions. "We are going into a series of negotiations with China to prevent escalation again," Bessent said. Meanwhile, Beijing also appears to be making efforts to improve relations with...
Oil prices fell by about $2 on Thursday on expectations for a U.S.-Iran nuclear deal that could result in sanctions easing, while a surprise build in U.S. crude oil inventories last week heightened investor concerns about oversupply. Brent crude futures were down $1.99, or 3%, to $64.10 a barrel at 0806 GMT. U.S. West Texas Intermediate (WTI) crude futures were down $2.05, or 3.3%, to $61.10. U.S. President Donald Trump said on Thursday that the United States was getting very close to securing a nuclear deal with Iran, and Tehran had "sort of" agreed to the terms. This came after an...
The U.S. dollar lost its footing against major peers on Thursday ahead of retail sales later in the day that could offer clues on U.S. consumer strength in the face of tariff risks, while excitement over a Sino-US trade deal faded. The greenback has given up most of its gains from Monday after the United States and China announced a 90-day pause on most of the tariffs imposed on each other's goods since early April, easing fears of a global recession. "Markets have exhausted the positivity from the U.S.-China trade talk," said Benjamin Ford, strategist at Macro Hive in London. Safe-haven...
Gold prices hit a one-month low on Thursday as investors awaited key US inflation figures for clues on the Federal Reserve's monetary policy path, while easing US-China trade tensions also weighed on bullion's appeal. Spot gold fell 1.3% to $3,136.97 an ounce by 0536 GMT, after hitting its lowest since April 10 earlier in the session. US gold futures fell 1.5% to $3,140.00. The US and China agreed to drastically reduce tariffs and impose a 90-day pause, defusing a potentially damaging trade war between the world's two largest economies. "The intraday outlook today is weak for the yellow...
Oil prices plunged more than $1 during trading on Thursday on hopes of a potential U.S.-Iran nuclear deal, while a surprise build in U.S. crude inventories last week raised investor concerns about a supply glut. Brent crude fell $1.49, or 2.3%, to $64.60 a barrel by 0405 GMT. U.S. West Texas Intermediate (WTI) crude fell $1.46, or 2.3%, to $61.69. Both benchmarks fell about 0.8% on Wednesday. Iran is willing to agree to a deal with the U.S. in exchange for the lifting of economic sanctions, an Iranian official told NBC News in an interview published Wednesday. "The renewed selling was...
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...
US President Donald Trump announced that a 19% tariff will be imposed on goods from the Philippines, following trade talks prompted by Filipino President Ferdinand Marcos Jr.'s recent visit to the...