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 held gains, after weaker-than-expected US data reinforced expectations that the Federal Reserve will cut interest rates at least twice this year to prevent a recession. Bullion traded near $3,375 an ounce, following a 0.6% increase on Wednesday, after separate reports showed a contraction in US service providers and a deceleration in hiring. Treasury yields fell after the prints, with swap traders pricing in two Fed reductions in October and December. Lower rates are typically a tailwind for gold, which doesn't bear interest. Elsewhere, fears...
The dollar fell across the board on Wednesday after weaker-than-expected U.S. private payrolls highlighted continued slack in the labor market and data showed the U.S. services sector contracted for the first time in about a year in May. U.S. private payrolls rose by just 37,000 jobs in May, much less than expected, after a downwardly revised 60,000 gain in April, the ADP National Employment Report showed on Wednesday. Economists polled by Reuters had forecast private employment rising by 110,000 after a previously reported gain of 62,000 in April. U.S. President Donald Trump reiterated...
EUR/USD strengthened on Wednesday (04/06), edging up more than 0.42% as the greenback erased Tuesday's gains following the release of weaker-than-expected economic data from the United States (US). This, coupled with uncertainty fueled by the trade war, pushed the pair past the 1.1400 mark after hitting a daily low of 1.1356. On Tuesday night, US President Donald Trump signed an executive order doubling steel and aluminum tariffs from 25% to 50%, effective June 4, for most countries, except the UK, which remains at 25%. Meanwhile, traders are gearing up for Trump's phone call with Chinese...
Oil prices settled down just over 1% on Wednesday after U.S. data showed surprisingly large build in gasoline and diesel inventories, swelling fuel supplies with OPEC+ planning more output and trade tensions clouding the energy demand outlook. Brent crude futures closed down 77 cents, or 1.2%, at $64.86 a barrel. U.S. West Texas Intermediate crude settled 56 cents, or 0.9% lower at $62.85. U.S. gasoline stocks swelled by 5.2 million barrels, the Energy Information Administration said. Analysts polled by Reuters had expected a rise of 600,000 barrels. Distillate stockpiles rose by 4.2...
Gold rose 1% on Wednesday, supported by a weaker dollar and weak U.S. data, as investors grappled with rising economic and political uncertainty. Spot gold rose 0.8% to $3,378.22 an ounce by 2:02 p.m. ET (1802 GMT), after rising as much as 1% earlier. U.S. gold futures settled 0.7% higher at $3,399.20. The U.S. dollar index (.DXY), opened in a new tab, fell 0.5%, making bullion cheaper for buyers holding other currencies, while the benchmark 10-year U.S. Treasury yield edged lower. "The US services sector - two-thirds of the economy - contracting for the first time in a year has pushed...
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...