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 (XAG/USD) price extended its decline for the second straight session, trading around $31.90 per troy ounce during Asian hours on Thursday (5/15). The daily chart technical analysis suggests a weakening bullish outlook, as the precious metal has dropped below an ascending channel pattern. The 14-day Relative Strength Index (RSI) has dropped below the 50 level, indicating a developing bearish bias. Moreover, Silver price has fallen below the nine-day and 50-day Exponential Moving Averages (EMA), further highlighting the fading strength of its near-term upside momentum. On the...
GBP/USD bounced back from recent losses, trading near 1.3280 during the Asian session on Thursday (5/15). The pair was supported by a weaker US Dollar (USD), as investors weighed the ongoing trade-related uncertainties despite a slight de-escalation in tensions. Market focus now shifts to the release of US Retail Sales and Producer Price Index (PPI) data later in the day. Speculations are growing that Washington may prefer a weaker dollar to strengthen its trade position. The Trump administration has argued that a strong greenback, relative to weaker regional currencies, hurts US...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, traded lower around 100.90 during the Asian session on Thursday (5/15). The greenback remained under pressure as investors assessed ongoing trade-related uncertainties, despite recent easing of tensions. Speculation has been growing that Washington may prefer a weaker dollar to support its trade agenda. The Trump administration has argued that a strong dollar, compared to weaker regional currencies, has hurt US exporters. Improving global trade sentiment has eased recession fears,...
The Japanese Yen (JPY) traded with a positive bias against its US counterpart for the third straight day on Thursday (May 15) and for now, seems to have stalled the previous day's decline from weekly highs. The Japanese wholesale inflation data released on Wednesday indicated that companies continued to pass on costs to consumers, adding to concerns over a more entrenched price rise in Japan. This is expected to keep the Bank of Japan (BOJ) on track for further interest rate hikes, which in turn, was seen supportive of the JPY. Additionally, a slight deterioration in the global risk...
Gold steadied after falling more than 2% on Wednesday on signs the Federal Reserve will cut interest rates fewer times than previously anticipated, and as easing U.S.-China tensions dampened demand for safe-haven assets. Bullion traded above $3,182 an ounce on Thursday, near its lowest level in more than a month. U.S. Treasury yields rose on expectations the Fed will lower borrowing costs more slowly than expected as the economic outlook improves following a U.S.-China trade truce. Higher yields and interest rates tend to be negative for non-yielding bullion. Continued progress in U.S.-led...
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...