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A survey conducted by the European Central Bank revealed that eurozone companies are facing a growin...
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2025-07-25
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The euro fell against a basket of global currencies at the European market opening on Friday, extend...
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2025-07-25
Cryptocurrencies fell during Friday trading amid anticipation of the US trade negotiations with its...
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2025-07-25
UK retail sales rose by 0.9% month-on-month in June, following a sharp 2.8% decline in May, with sup...
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2025-07-25
Gold futures prices fell as the dollar strengthened following economic data showing resilience in th...
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2025-07-25
China's gold consumption declined 3.55% year-on-year in the first half of 2025 to 505.2 tons. Howeve...
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2025-07-24
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A survey conducted by the European Central Bank revealed that eurozone companies are facing a growing slowdown amid intensifying competition with their Chinese counterparts, amid declining business confidence due to US tariffs. The survey, which included 72 entities operating in the region, reported a slowdown in activity in recent months due to escalating geopolitical tensions and tariffs, which negatively impacted investor and consumer confidence alike. The companies warned that US tariffs pose a direct threat to growth, while Chinese products play an increasing role in stifling European competition, particularly with the redirection of Asian exports to Europe at the expense of the US market. The report indicated that this trade shift has so far affected intermediate goods without a significant impact on final consumer prices, but it is expected to expand in the coming period. On the wage front, companies expect salary growth to slow from 4.5% last year to 3.3% this year, and then to 2.8% in 2026
2025-07-25
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The euro fell against a basket of global currencies at the European market opening on Friday, extending its losses for the second consecutive day against the US dollar, moving away from a two-week high, as corrections and profit-taking continue. Despite this decline, the single European currency, the euro, is on the verge of achieving a weekly gain, especially after the European Central Bank's hawkish meeting, during which it announced a temporary pause in monetary policy easing. This decision came amid continuing uncertainty regarding the risk of increased US tariffs on economic activity in Europe, which raises doubts about the possibility of a European interest rate cut next September. Euro exchange rate today: The euro fell 0.1% against the dollar to $1.1734, from today's opening price of $1.17477, and reached a high of $1.1759.
2025-07-25
Cryptocurrencies fell during Friday trading amid anticipation of the US trade negotiations with its trading partners. Bitcoin fell 3.31% to $115,083 as of 10:08 a.m. Mecca time, according to Coinbase data. Ripple fell 5.16% to $3,064, Ethereum fell 3.15% to $3,620.6, and Dogecoin fell 5.85% to $22.62. This comes amid uncertainty over US monetary policy and pressure from the administration on Federal Reserve Chairman Powell to cut interest rates, which is negatively impacting risk appetite. Cryptocurrencies rose sharply last week, boosted by US President Trump's signing of the first stablecoin regulatory law
2025-07-25
UK retail sales rose by 0.9% month-on-month in June, following a sharp 2.8% decline in May, with supermarkets reporting a boost in beverage sales amid the high temperatures. A report released by the Office for National Statistics on Friday attributed this improvement to the impact of warm weather, which encouraged consumers to shop and boosted food and fuel sales. Grocery store sales rose by 0.7%, rebounding from a previous 5.4% decline. Online sales grew by 1.7%, their highest level since February 2022. Fuel sales jumped by 2.8%, the strongest increase since May 2024. In the second quarter, retail sales rose by 0.2% quarter-on-quarter, recording a 1.7% annual increase compared to June 2024. However, they are still 1.6% below pre-COVID-19 levels recorded in February 2020. The Met Office reported that June was the hottest month on record in England and the second hottest month in the UK as a whole, which played a pivotal role in stimulating consumer spending
2025-07-25
Gold futures prices fell as the dollar strengthened following economic data showing resilience in the US labor market, coinciding with easing concerns about the trade war. During Friday's trading, gold futures for August delivery fell 0.35%, or $11.9, to $3,361.60 per ounce. Spot gold fell 0.3%, or $9.40, to $3,359.28 per ounce, as of 8:28 a.m. Mecca time. The dollar index, which measures the performance of the US currency against a basket of six major currencies, rose 0.2% to 97.56. While silver futures for September delivery settled at $39.23 per ounce, spot platinum prices fell 0.9% to $1,402.15, and palladium fell 0.85% to $1,227.37. This comes after economic data showed an unexpected drop in US unemployment claims last week, falling to 217,000 from 221,000 during the week ending July 19, contrary to expectations of a rise to 227,000
2025-07-25
China's gold consumption declined 3.55% year-on-year in the first half of 2025 to 505.2 tons. However, the decline was slower than previous periods, following declines of 5.95% in the first quarter and 5.6% in the first half of 2024. According to the China Gold Association, purchases of gold bars and coins—usually considered a measure of safe-haven demand—accounted for more than half of total consumption during the period, recording a 23.7% year-on-year increase to 264.2 tons, outpacing jewelry purchases, which fell 26% to 199.8 tons due to high prices. The association added: "Escalating geopolitical conflicts, coupled with economic uncertainty, have further highlighted gold's role as a safe haven, leading to a significant increase in private investment in gold bars and coins." The report, issued Thursday, indicated that spot gold prices, the most active contract on the Shanghai Futures Exchange, rose by about 25% during this period, according to Reuters. Separately, official data from the People's Bank of China showed that the central bank increased its gold reserves in June for the eighth consecutive month
2025-07-24
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Bank of America (NYSE:BAC) released a research note on Tuesday outlining its expectations for the EU...
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Natural gas futures declined during the European session on Tuesday. According to the New York Merca...
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The Japanese yen declined in the Asian market on Monday against a basket of major and minor currenci...
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Bitcoin is on track to achieve one of its biggest gains in September, with a global wave of interest...
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