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 rallies for the second straight day, shy of testing the $3,400 figure following the release of softer inflation and jobs data in the United States (US) as geopolitical tensions grow in the Middle East. The XAU/USD trades at $3,386 at the time of writing. Market mood remains upbeat, following back-to-back positive inflation reports in the US, which are pressuring the Federal Reserve (Fed) to reduce interest rates as the economy has yet to show the full impact of tariffs on prices. The labor market continues to exhibit some weakness, as the number of Americans filing for...
Oil prices settled slightly lower on Thursday as traders booked profits from a 4% rally in the prior session, driven by concerns that worsening tensions in the Middle East could cause supply disruptions. Brent crude futures settled down 41 cents, or 0.6%, at $69.36 a barrel. U.S. West Texas Intermediate crude fell 11 cents, or 0.2%, to settle at $67.97 a barrel. U.S. President Donald Trump on Thursday said an Israeli strike on Iran "could very well happen," but added that he would not call it imminent and prefers to avoid conflict. The U.S. had earlier decided to move personnel out of the...
EUR/USD advances for the second consecutive day, posting gains of over 0.70% and trades below the three-year high of 1.1631 hit earlier, as traders digest the latest Producer Price Index (PPI) report in the United States (US), alongside jobs data. At the time of writing, the pair trades at 1.1575 after the US Bureau of Labor Statistics (BLS) reported that the Producer Price Index (PPI) in May indicated continued disinflation, aligning with the Consumer Price Index (CPI) report released on Wednesday. Jobs data revealed that more people are applying for unemployment benefits in the US. The...
Gold (XAU/USD) prices are attempting to retest the key psychological level of $3,400, as the US Dollar remains pressured on Thursday. At the time of writing, the yellow metal is battling another major resistance zone above $3,380, a level that coincides with the upper boundary of the rising wedge pattern. The resurgence of bullish momentum can be attributed to several factors. Over the past 24 hours, these have included the release of US inflation data, rising tensions in the Middle East, and the ongoing tariff threats from the US Trump administration. The release of US Producer Price...
Gold (XAU/USD) emerged as a major beneficiary of the US Dollar (USD) weakness, a theme that is expected to drive prices on Thursday (6/12). With prices currently hovering around the $3,380 mark, geopolitical risks and the US fundamental backdrop continue to support the safe-haven demand for Gold. The US Producer Price Index (PPI) data release on Thursday showed that inflation slowed at the wholesale level. The headline PPI showed an annual increase of 2.6% in May, in line with analysts' forecasts, following a 2.5% increase in April. The core PPI, which excludes volatile items, fell to 3%...
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...