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 were little changed on Monday as investors awaited US-China trade talks in London in hopes that a deal could improve the global economic outlook and further boost demand. Brent crude futures were up 4 cents at $66.51 a barrel by 0940 GMT while US West Texas Intermediate crude was down 1 cent at $64.57. Brent rose 4% last week and WTI 6.2% as the prospect of a US-China trade deal boosted risk appetite for some investors. US President Trump and Chinese leader Xi Jinping spoke by phone on Thursday before US and Chinese officials meet in London on Monday in a bid to ease trade...
EUR/USD started the week on a fairly positive note on Monday (09/06), following a significant decline on Friday. The currency pair is currently trading at 1.1415, having bottomed at 1.1370 on Friday, supported by a weaker US dollar (USD) and aggressive comments from European Central Bank member Peter Kazimir. The Eurozone economy still faces downside risks, Kazimir said, but inflationary pressures are rising, which according to the ECB official, suggests that the bank is done with monetary easing, "if not at the end of the cycle." In the absence of relevant releases, these comments have...
Gold prices rose on Monday, supported by a weaker U.S. dollar ahead of U.S.-China trade talks aimed at easing tensions, while platinum extended gains for a sixth straight session to hit a four-year peak. Spot gold was up 0.4% at $3,323.71 an ounce, by 0806 GMT, after dropping earlier in the session to $3,293.29, its lowest since June 2. U.S. gold futures were steady at $3,344.70. The dollar (.DXY), down 0.3% against a basket of major currencies, made bullion cheaper for holders of other currencies. Investors are realizing that gold's key drivers, such as trade and geopolitical tensions,...
Silver (XAG/USD) prices extended their gains for the third straight session, hitting a fresh 13-year high of $36.42 per troy ounce on Monday (09/06). The grey metal gained on rising demand for safe-haven assets amid concerns over global economic and trade uncertainties. Non-yielding assets, including Silver, may have found support after Citigroup released its forecasts on Monday, which predicted the Fed would cut interest rates by 25 basis points each in September, October, and December. The firm also predicted the central bank would cut rates by 25 basis points each in January and March...
Oil prices dipped a few cents on Monday but held onto most of last week's gains as investors watched for U.S.-China trade talks in London later in the day supported by some hopes a deal could boost the global economic outlook and fuel demand. Brent crude futures slipped 6 cents to $66.41 a barrel by 0450 GMT. U.S. West Texas Intermediate crude fell 4 cents to $64.54. The prospect of a U.S.-China trade deal have boosted some investors' risk appetite and supported oil prices as three of Donald Trump's top aides were set to meet with counterparts in the first meeting of the U.S.-China...
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...