Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Gold price (XAU/USD) is seen consolidating its intraday losses to over a one-week low and trades just below the $3,350 level during the first half of the European session. The US Federal Reserve (Fed) earlier this week trimmed the outlook for rate cuts in 2026 and 2027, which, in turn, is seen acting as a tailwind for the US Dollar (USD) and undermining demand for the non-yielding yellow metal. Apart from this, a generally positive tone around the European equity markets turns out to be another factor exerting pressure on the Gold price. However, rising geopolitical tensions in the Middle...
Brent crude oil prices pared gains from the previous session and fell nearly $2 on Friday after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict, but prices were still poised for a third straight week of gains. Brent crude was down $1.89, or 2.4%, at $76.96 a barrel by 0255 GMT. For the week, it was up 3.8%. U.S. West Texas Intermediate crude for July - which did not close on Thursday because of a U.S. holiday and ends on Friday - rose 53 cents, or 0.7%, to $75.67. The more liquid WTI for August was up 0.2%, or 17 cents, to $73.67. Oil prices jumped...
Silver (XA/USD) is seen extending its retracement slide from the highest level since February 2012 touched earlier this week and weakened for the third straight day on Friday (6/20). The downward trajectory dragged the white metal to its lowest level in over one week, around the $35.65 area during the Asian session. From a technical perspective, XAG/USD's failure to extend this week's up-move beyond the $37.00 mark and a subsequent decline below the 23.6% Fibonacci retracement level of the May-June rally favors bearish traders. Moreover, oscillators on the 4-hourly chart have been gaining...
Gold prices fell on Friday and were on track for a weekly decline, as an overall stronger dollar and prospects for fewer U.S. interest rate cuts offset support from rising geopolitical risks in the Middle East. Spot gold was down 0.5% at $3,355.49 an ounce, by 0245 GMT, and down 2.2% so far this week. U.S. gold futures were down 1% at $3,371.80. "There's a lot of uncertainty in the Middle East right now that's keeping traders from taking aggressive positions on either the long or short side of the spectrum," said Kelvin Wong, senior market analyst, Asia Pacific at OANDA. Middle East...
The USD/CHF pair lost momentum to around 1.3690, ending three consecutive days of gains during Asian trading hours on Friday (6/20). Concerns about the US involvement in the Middle East conflict fueled demand for the Swiss Franc (CHF), a safe-haven currency. The US Philly Fed Manufacturing Index will be published later on Friday. The conflict between Israel and Iran has entered its seventh day. The White House said that US President Donald Trump will make a decision in the next two weeks on whether to join Israel in the war. Uncertainty about the war raging in the Middle East and fears that...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...