The United States will impose tariffs on steel and aluminum imports from the European Union, Canada and Mexico from midnight Thursday, May 31, ending months of uncertainty over potential exemptions and sharply escalating the risk of a trade war. The announcement by Commerce Secretary Wilbur Ross was sure to cast a long shadow over a meeting of finance ministers from the world's Group of Seven top economies that opens later in the day in Canada.
When oil markets are headed towards rebalancing, any shocks due to supply shortage may lead to a huge spike in prices. Brent prices fell on Tuesday to a low of $73.47 per barrel, indicating that $75 may be a short-term top.
A major blow to the EU! The populist Five Star Movement won about one-third of the votes in the Italian general elections. It’s another negative shock for the European establishment. Will these stars shine on gold?
Gold made headway for the sixth day in a row in heavy trade on Monday as the metal continues to make up lost ground following Donald Trump's victory and as the dollar weakens and interest rates in the U.S. trend lower again.
Although it is expected and understood that the UK will be aiming to strengthen relationships around the world following the result of the EU Referendum, I am unsure how people will react to Theresa May strengthening a relationship with the United States that appears on track to isolate itself from globalization.
Prime Minister Theresa May said on Monday it was wrong to say a "hard Brexit" was inevitable, after sterling fell to a 10-week low following comments interpreted as a signal she would prioritize border controls over EU market access.
Investors have suddenly shifted to a “risk off” mode as a result of the recent shift in momentum towards Donald Trump being declared as the possible winner of the U.S. election in a couple of days’ time.