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 edged higher in Asian trading on Monday after U.S. President Donald Trump extended a deadline for his proposed reciprocal tariffs against the European Union. However, gains were limited as oversupply worries persisted amid reports that the oil-procuring cartel, OPEC+, might hike production again in July. As of 21:18 ET (01:18 GMT), Brent Oil Futures expiring in July rose 0.2% to $64.93 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.3% to $61.69 per barrel. "We're likely to hear lots of noise this week ahead of the OPEC+ meeting on Sunday, 1 June, where...
EUR/USD extends its gains for the second successive session, trading around 1.1390 during the Asian hours on Monday. The Euro (EUR) gains ground as Bloomberg reported that US President Donald Trump agreed to extend the 50% tariff deadline on the European Union (EU) until July 9. On Sunday. European Commission President Ursula von der Leyen posted on social media that the EU was ready to move quickly in trade talks with the United States (US) but requires more time to reach a deal. US markets will be closed due to the Memorial Day holiday on Monday. On Friday, President Trump threatened in...
The GBP/USD pair is seen building on last week's strong move up and gaining some follow-through positive traction during the Asian session on Monday. The momentum lifts spot prices beyond the 1.3550 level, to the highest level since February 2022, and is sponsored by a combination of factors. The British Pound (GBP) continues with its relative outperformance on the back of the upbeat UK Retail Sales figures released on Friday, which suggest that consumer spending remains a bright spot despite a gloomy economic outlook. This, along with higher-than-expected inflation in April, fueled...
The US dollar index fell below 99 on Monday, hitting its lowest level in over a month, as the euro strengthened following President Donald Trump's decision to postpone the imposition of 50% tariffs on the European Union until July 9. Trump announced the delay on Truth Social after a call with European Commission President Ursula von der Leyen, who described the conversation as "good" but noted more time was needed to "reach a good deal." Adding to market unease, Trump threatened to impose a 25% tariff on iPhones sold in the US that are not manufactured domestically, raising concerns over...
Gold dropped below $3,340 per ounce on Monday as safe-haven demand eased after President Donald Trump agreed to delay the planned 50% tariff on European goods. Trump on Sunday set a July 9 deadline to buy time for negotiations with the bloc, backing away from his earlier threat to impose the tariff on June 1. However, trade concerns remain as Trump on Friday also warned Apple Inc. that it would be subject to 25% tariffs if it does not manufacture its iPhones in the US. Last week, bullion gained nearly 5%, supported by trade uncertainty and mounting concerns over the US economic and fiscal...
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...