European Stocks Rise, Set for Modest Weekly Gains - Jordan News
This performance followed record highs on Wall Street on Thursday, fueled by strong economic data and earnings updates that showed continued robust consumer spending in the U.S.
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Jordan News
7 hours ago
- Jordan News
Oil Prices Steady Amid Economic Uncertainty and Anticipation of U.S. Interest Rate Decision - Jordan News
Oil prices held steady on Tuesday as markets remained cautious about global economic prospects following a trade agreement between the United States and the European Union, while investors awaited the upcoming decision from the U.S. Federal Reserve on interest rates. اضافة اعلان Brent crude futures rose by one cent, reaching $70.05 per barrel at 06:10 GMT, while West Texas Intermediate (WTI) crude edged down two cents to $66.69 per barrel. Both benchmarks had closed the previous session up by more than 2%, with Brent reaching a recent high. Although the trade deal between Washington and Brussels includes a 15% tariff on most European goods, it helped avert a full-blown trade war that could have endangered a third of global trade and weakened fuel demand. The agreement also outlines a commitment by the EU to purchase $750 billion worth of U.S. energy over the coming years—a target analysts describe as nearly impossible—in addition to $600 billion in European investments in the U.S. during President Donald Trump's second term. According to an analytical note from ANZ Bank, 'While the agreement provided relief to global markets amid persistent uncertainty, the timeline for implementing the investment commitments remains vague. We believe the 15% tariff will challenge eurozone economic growth but is unlikely to trigger a recession.' Meanwhile, senior economic officials from the U.S. and China met in Stockholm on Monday for more than five hours of discussions aimed at resolving ongoing economic disputes, with talks expected to resume on Tuesday. Oil market participants are also closely watching the Federal Open Market Committee (FOMC) meeting on July 29–30, amid expectations that interest rates will remain unchanged. However, analysts suggest the Fed may adopt a more dovish tone due to declining inflation indicators, according to Priyanka Sachdeva, market analyst at Phillip Nova. Sachdeva added, 'Momentum is skewed toward the upside in the short term, but the market remains vulnerable to volatility from surprise central bank moves or failed trade negotiations.' In another development, companies involved in global green hydrogen projects have begun canceling or scaling back investments, signaling that reliance on fossil fuels may persist longer than globally anticipated. Additionally, U.S. President Donald Trump on Monday gave Russia a new deadline of '10 to 12 days' to make progress in ending the war in Ukraine, threatening new sanctions on Moscow and on countries that continue buying Russian exports if no progress is made, according to Reuters.
Ammon
a day ago
- Ammon
Trump, Starmer to meet in Scotland, with Gaza on agenda
Ammon News - U.S. President Donald Trump will host British Prime Minister Keir Starmer at his golf resort in western Scotland on Monday for talks expected to range from their recent bilateral trade deal to the worsening hunger crisis in Gaza, the two governments said. Trump, riding high after announcing a huge trade agreement with the European Union late on Sunday, said he expected Starmer would also be pleased. "The prime minister of the UK, while he's not involved in this, will be very happy because you know, there's a certain unity that's been brought there, too," Trump said. "He's going to be very happy to see what we did." Starmer had hoped to negotiate a drop in U.S. steel and aluminum tariffs as part of the discussions, but Trump on Sunday ruled out any changes in the 50% duties for the EU and has said the trade deal with Britain has been "concluded." The two men are expected to travel from Trump's luxury golf resort in Turnberry, on Scotland's west coast, to a second sprawling estate owned by Trump in the east, near Aberdeen. Casting a shadow over their visit has been the deepening crisis in the war-torn Gaza enclave, where images of starving Palestinians have alarmed the world. Starmer has recalled his ministers from their summer recess for a cabinet meeting, a government source said on Sunday, most likely to discuss the situation in Gaza as pressure grows at home and abroad to recognize a Palestinian state. The British leader on Friday said his country would recognize a Palestinian state only as part of a negotiated peace deal, disappointing many in his Labour Party who want him to follow France in taking swifter action. Trump on Friday dismissed French President Emmanuel Macron's plan to recognize a Palestinian state, an intention that also drew strong condemnation from Israel, after similar moves from Spain, Norway and Ireland last year. Reuters
Ammon
a day ago
- Ammon
Gold stages rebound on dollar weakness; US, EU ink tariff deal
Ammon News - Gold prices gained in choppy trading on Monday, as a weaker dollar helped to offset pressure from improved risk appetite after United States and European Union announced a trade framework agreement. Spot gold was up 0.2% at $3,342.62 per ounce, as of 0421 GMT, after touching its lowest level since July 17. U.S. gold futures edged 0.2% higher to $3,342.90. The U.S. struck a framework trade agreement with the European Union on Sunday, imposing a 15% import tariff on most EU goods - half the threatened rate - and averting a bigger trade war between the two allies that account for almost a third of global trade. However, the agreement left key issues unresolved, including tariffs on spirits. The U.S. dollar index eased 0.1%, making greenback-priced bullion more affordable for overseas buyers. Risk sentiment improved following the agreement, with European currencies and U.S. stock index futures trading higher. Spot silver was up 0.2% at $38.21 per ounce, while platinum gained 1.2% to $1,417.67 and palladium rose 2.9% to $1,254.98. Reuters
