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...
Oil prices fell on Thursday, reversing gains seen earlier in Asia, as market participants assessed the U.S. decision to remove personnel from the Middle East ahead of talks with Iran over Tehran's nuclear activities. Brent crude futures fell 73 cents, or 1.1%, to $69.04 a barrel by 0901 GMT, while U.S. West Texas Intermediate crude fell 66 cents, or 1%, to $67.49 a barrel. Both Brent and WTI jumped more than 4% to their highest levels since early April a day earlier. U.S. President Donald Trump said the U.S. was removing personnel because the Middle East "can be a dangerous place." He...
Gold prices rose to a one-week high on Thursday, boosted by softer US inflation data that reinforced expectations of a Federal Reserve interest rate cut this year, while investors eyed a raft of other inflation data for further direction. Spot gold was up 0.2% at $3,360.29 per ounce, as of 0838 GMT, after hitting its highest since June 5 the previous day. U.S. gold futures were up 1.1% at $3,380.00. The U.S. dollar index (.DXY), fell 0.3% to a near two-month low. A weaker dollar makes bullion cheaper for buyers holding other currencies. "Gold remains on the back foot... with a break...
The US dollar was among the weakest G8 currencies on Thursday (6/12). Risk-off sentiment fueled by US President Trump's fresh tariff threats, coupled with higher expectations of a Fed rate cut, pushed the USD lower against the safe-haven Japanese yen. US CPI figures released on Wednesday revealed that inflation grew at a 0.1% pace in May and 2.4% year-on-year, below the 0.2% and 2.5% increases expected by market analysts, respectively. The figures have eased concerns about the inflationary impact of Trump's "Liberation Day" tariffs and raised expectations that the Fed will cut rates again...
The pound (GBP) fell sharply against other major currencies on Thursday (6/12) as the U.K. Office for National Statistics (ONS) reported that the economy shrank at a faster-than-expected pace in April. According to the report, U.K. Gross Domestic Product (GDP) shrank by 0.3% month-on-month in April, faster than the 0.1% expected in March. In March, the GDP growth rate was 0.2%. The country's stronger-than-expected economic downturn is expected to force Bank of England (BoE) officials to reassess their "gradual and cautious" monetary expansion guidance, which they delivered in May after...
Silver (XAG/USD) prices extended its correction for the third trading day, dropping nearly 1.5% to near $35.50 during European trading hours on Thursday (6/12). The white metal corrected after failing to extend its more than a decade-high of $36.90 recorded on Monday. The asset faced sharp selling pressure despite the escalating tensions in the Middle East. According to officials in the United States (US) and Europe, Israel appears to be preparing to launch an attack on Iran soon, The New York Times reported. Meanwhile, Washington has announced that it will reduce the number of personnel...
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...