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...
The GBP/USD pair attracted fresh sellers after the previous day's decent rebound from the 1.3415 area, or weekly lows amid a modest US Dollar (USD) uptick. The spot price is currently trading around the 1.3475-1.3470 region, down 0.15% for the day, though the downside seems limited as traders might opt to wait for the release of the US Personal Consumption Expenditures (PCE) Price Index. Ahead of the key data risk, some repositioning trade helped the USD to regain some positive traction after the previous day's dramatic turnaround from over one-week highs and exerted some pressure on the...
Gold price (XAU/USD) struggled to capitalize on the previous day's strong recovery move from the $3,246-3,245 region, or over a one-week low, and attracted fresh sellers during the Asian session on Friday. The US Dollar (USD) regains some positive traction following Thursday's dramatic intraday turnaround, amid some repositioning trade ahead of the pivotal inflation report from the US. This, in turn, is seen undermining demand for the bullion. However, a combination of factors should act as a tailwind for the commodity and help limit deeper losses. A federal appeals court on Thursday paused...
The US dollar index hovered around 99.4 on Friday, steadying after a volatile session as traders awaited the release of the PCE price index, the Federal Reserve's preferred measure of inflation. The report could offer early signals on whether tariffs are beginning to feed into price pressures, potentially influencing the Fed's next policy decision. On Thursday, government data confirmed the US economy contracted in the first quarter, marking the first negative growth reading in three years, further complicating the Fed's rate outlook. Meanwhile, San Francisco Fed's Mary Daly said the...
Oil prices were on track to end the week down more than 1% on Friday amid whipsawing tariff rulings in the U.S. and as the market braced for a potential OPEC+ output hike. Brent crude futures slipped 26 cents, or 0.41%, to $63.89 a barrel by 0104 GMT. U.S. West Texas Intermediate crude fell 27 cents, or 0.44%, to $60.67 a barrel. The Brent July futures contract is due to expire on Friday. In the U.S., President Donald Trump's tariffs were to remain in effect after a federal appeals court temporarily reinstated them on Thursday, reversing a trade court's decision on Wednesday to put an...
Gold recovered some heavy losses sustained earlier this week, as markets were once again rattled by uncertainties around US President Donald Trump's global tariffs agenda and the strength of the US economy. The precious metal traded near $3,314 an ounce, following a gain of nearly 1% on Thursday after a federal appeals court offered Trump a temporary reprieve from a ruling threatening to throw out the bulk of his tariff agenda. A weakening dollar also helped, driven by growing fiscal risks and renewed political pressure on the Federal Reserve to lower interest rates. Disappointing...
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...