Wall Street's main indexes advanced on Thursday, lifted by hopes that technology giants might dodge President Donald Trump's newest tariffs on chip imports. Apple's (AAPL.O), opens new tab shares climbed 2.4%, having risen 5.1% and led gains on Wall Street in the prior session, after Trump said the iPhone maker will invest an additional $100 billion in the U.S., bringing its total commitment to $600 billion over the next four years. Trump also announced a tariff of about 100% on imports of semiconductors but said it would not apply to companies that are manufacturing in the U.S. or have...
The Japanese Yen (JPY) kicks off the new week on a softer note as the latest optimism over a trade deal between the US and the European Union (EU) undermines traditional safe-haven assets. Furthermore, reduced bets for an immediate interest rate hike by the Bank of Japan (BoJ), amid signs of cooling inflation in Japan and domestic political uncertainty, keep the JPY bulls on the defensive. Meanwhile, Japan's trade deal with the US keeps the door open for an imminent BoJ rate hike this year, which, in turn, is seen acting as a tailwind for the JPY. This, along with subdued US Dollar (USD)...
The Australian Dollar (AUD) maintains its position on Monday, after registering losses in the previous two sessions. The AUD/USD pair gained ground following the announcement of a newly established trade agreement between the United States (US) and the European Union (EU). Traders await further development on the meeting between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, scheduled on Monday in Stockholm. The two countries are expected to extend their tariff truce by another three months, according to a source cited by the South China Morning Post (SCMP) on...
The US dollar index dipped to around 97.5 on Monday, retreating after a two-day advance as the euro strengthened following the weekend's US-EU trade agreement. The deal, which imposes a 15% tariff on most European exports, down from the 30% initially threatened, eased transatlantic trade tensions and boosted demand for the euro. Meanwhile, investors are turning their focus to a pivotal week for US monetary policy and economic data. The Federal Reserve is widely expected to leave interest rates unchanged on Wednesday, but markets will closely watch for signals regarding a potential rate cut...
The euro climbed above $1.175 on Monday, snapping a two-day losing streak after the US and EU reached a trade agreement over the weekend. The deal includes a 15% tariff on most European goods, significantly lower than the 30% originally threatened by Washington, easing fears of a broader trade conflict. Announced jointly by President Trump and European Commission President Ursula von der Leyen in Scotland on Sunday, the agreement was hailed by Trump as "the biggest of all the deals," while von der Leyen said it would provide "stability" and "predictability." However, key details, such as...
Oil steadied after the US and European Union agreed on a trade deal ahead of President Donald Trump's tariff deadline of Aug. 1. Brent was above $68 a barrel after closing 1.1% lower on Friday, and West Texas Intermediate traded near $65. The bloc faces 15% levies on most of its exports, although Trump and European Commission President Ursula von der Leyen appeared to differ on some key details of the agreement. Trump's trade policies and threats of retaliation from targeted countries have raised concerns about the outlook for global economic growth, weighing on oil and other commodities....