The euro surged to its highest level in nearly four years against the U.S. dollar, as global investors turned to safe-haven assets amid growing geopolitical tensions and uncertainty surrounding the U.S.-China trade deal.
Market sentiment shifted sharply on Thursday as geopolitical tensions and fragile trade negotiations drove investors toward safer currencies. The dollar weakened after the U.S. president announced plans to send letters to trade partners outlining new tariff rates, with the 90-day pause on “reciprocal” levies nearing its end next month.
This retreat of the dollar helped the euro climb to $1.1589 — its highest level since late 2021 — supported not only by rate expectations but also growing investor confidence in the eurozone’s economic stability. Safe-haven currencies also gained ground, with the Swiss franc and Japanese yen rising 0.8% and 0.6% respectively, after President Trump’s warnings about rising Middle East tensions and efforts to curb Iran’s nuclear ambitions fueled caution.
In Asia, the Chinese yuan edged up to 7.1818 per dollar, though its gains were capped by persistent U.S.-China friction.
Indonesia's Mount Dukono erupted again, sending a thick ash plume 1,100 meters into the sky, as volcanic activity intensifies across the region....
Azerbaijani President Ilham Aliyev met with Pakistani Prime Minister Muhammad Shehbaz Sharif in Khankendi, highlighting strong bilateral ties and regi...
The Kremlin says it is closely watching U.S. President Donald Trump’s statements after he expressed disappointment with his latest call with Russian...
The European Commission has proposed a strategy to position Europe as a global leader in quantum technology by 2030. The initiative aims to advance th...
Unexpected weakness in Germany's manufacturing orders in May signals ongoing uncertainty in industrial demand, despite a yearly rise and sector-specif...
Indonesia's Mount Dukono erupted again, sending a thick ash plume 1,100 meters into the sky, as volcanic activity intensifies across the region.
Azerbaijani President Ilham Aliyev met with Pakistani Prime Minister Muhammad Shehbaz Sharif in Khankendi, highlighting strong bilateral ties and regional cooperation.
The Kremlin says it is closely watching U.S. President Donald Trump’s statements after he expressed disappointment with his latest call with Russian President Vladimir Putin regarding the Ukraine war.
President of the Republic of Türkiye, Recep Tayyip Erdoğan, arrived in Azerbaijan on July 4 to participate in the 17th Summit of the Economic Cooperation Organization (ECO).
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Unexpected weakness in Germany's manufacturing orders in May signals ongoing uncertainty in industrial demand, despite a yearly rise and sector-specific gains.
Oil futures fell on Friday after Iran reaffirmed its commitment to nuclear non-proliferation and amid expectations that major producers are set to agree to raise their output this weekend.
Russia actively shifted its trade focus away from Europe and the United States, redirecting it toward markets in friendly countries—primarily China, India, Central Asia, Africa, and the Middle East. The share of these countries in Russia's foreign trade has increased from 46% to 82%.
Fast fashion retailer Shein has been fined €40 million ($47.17 million) by France’s antitrust watchdog for allegedly having misleading discounts and unclear environmental claims, despite the company’s claim that the issues were fixed a year ago.
A multimodal cargo airport in Azerbaijan’s Alat Free Economic Zone (FEZ) is scheduled for commissioning in Q1 2027, the deputy head of the FEZ governing body Ismail Manafov announced.
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