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...
Silver (XAG/USD) oscillated in a narrow range around the $36.75 area during the Asian session on Thursday (June 19) and for now, seems to have stalled the previous day's modest decline from its highest level since February 2012. Meanwhile, the technical setup favors bullish traders and suggests that the path of least resistance for the white metal is to the upside. A sustained strength beyond the $36.45-$36.50 mark confirms a breakout through a short-term descending trend channel, which constitutes the formation of a bullish flag pattern. Moreover, the Relative Strength Index (RSI) on the...
The Japanese Yen (JPY) reversed modest Asian session gains against the broadly stronger USD and remained near monthly lows retested earlier this week. The Bank of Japan's (BOJ) cautious approach to winding down its decade-long monetary stimulus forced investors to push back their expectations about the likely timing of the next interest rate hike to Q1 2026. Additionally, concerns about the potential economic impact of the US's 25% tariffs on Japanese vehicles and a reciprocal 24% levy on other imports turned out to be key factors undermining the JPY. The USD, on the other hand, rose to...
Oil prices fell on Thursday as investors hesitated to take new positions after US President Donald Trump gave mixed signals about the country's potential involvement in the ongoing Israel-Iran conflict. Brent crude futures fell 37 cents, or 0.48%, to $76.33 a barrel by 0110 GMT after rising 0.3% in the previous session marked by high volatility, when prices fell as much as 2.7%. U.S. West Texas Intermediate crude for July fell 28 cents, or 0.37%, to $74.86 a barrel, after rising 0.4% the previous day despite falling as much as 2.4%. The July contract expires on Friday and the more active...
USD/CHF rallied for the fourth straight day after the Federal Reserve (Fed) decided to keep interest rates on hold, although they are still eyeing two rate cuts by 2025. This, coupled with US President Trump's statement that he is open to Iran talks, boosted the dollar. At the time of writing, the pair was trading at 0.8180, up 0.08%. USD/CHF Price Forecast: Technical outlook The price action suggests that the USD/CHF downtrend is still in play, although since June 13, it seems to be consolidating in the 0.8038-0.8350 range in the near term. This is because the Relative Strength Index...
Gold edges higher in the early Asian session amid ongoing geopolitical tensions. Israel's military said it struck more than 20 military targets in and around Tehran, including sites tied to Iran's nuclear weapons development and missile production. President Trump said that he wasn't looking for a ceasefire in Israel-Iran conflict and that he doesn't want Iran to have nuclear weapons. "Persistent geopolitical tensions continue to underpin safe-haven demand," DHF Capital's Bas Kooijman says in an email. There are growing worries that the U.S. could become directly involved, the CEO and asset...
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...