
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 dollar index fell to around 99.5 on Thursday, marking its fourth straight daily decline, as fiscal concerns weighed on sentiment. Investors are increasingly uneasy over Trump's proposed budget, which includes sweeping tax cuts projected to add between $3 trillion and $5 trillion to the national debt. However, the legislation hit a political snag as several blue-state Republicans warned they would withhold support unless the bill includes a larger deduction for state and local taxes. Further pressure on the dollar came from a lackluster 20-year bond auction, which signaled weakening...
Gold rose toward $3,340 per ounce on Thursday, gaining for a fourth straight session to reach a near two-week high, as investors sought safe-haven assets amid growing concerns over the US fiscal outlook. Risk sentiment weakened following the release of a proposed US federal budget that could further widen the already large deficit, compounded by Moody's recent downgrade of the US credit rating due to rising debt levels and the Fed's cautious outlook on the economy. Geopolitical tensions further amplified gold's appeal, with ongoing unrest in the Middle East and President Trump appearing to...
EUR/USD extended its rally for the third straight day on Wednesday (5/21) as the US Dollar (USD) continued to face headwinds following Friday's US credit rating downgrade. This, coupled with the vote for Trump's "One Big, Beautiful Bill," weighed on traders, as it would increase the national debt, which has been deemed unsustainable by Federal Reserve (Fed) Chairman Jerome Powell. The single currency continued to capitalize on broad US Dollar weakness. Moody's revision to downgrade the US government debt rating from AAA to Aa1 on Friday fueled investor concerns over the weekend as the Trump...
Gold prices rose for a third straight session on Wednesday, hitting a one-week high, helped by a weaker dollar and safe-haven demand amid economic and geopolitical uncertainty. Spot gold rose 0.7% to $3,312.77 an ounce, as of 1:55 p.m. ET (1755 GMT). U.S. gold futures settled 0.9% higher at $3,313.50. The U.S. dollar (.DXY), opens a new tab , fell 0.6% against a basket of other currencies, making gold cheaper for holders of foreign currencies. Wall Street's main indexes fell and Treasury yields rose, as investors eyed a key debate over President Donald Trump's tax cut bill that has stoked...
Oil prices fell on Wednesday after Oman's foreign minister said a new round of nuclear talks between Iran and the U.S. would take place later this week. Oil prices rose in early trading after a CNN report on Tuesday said U.S. intelligence showed Israel was preparing to strike Iran's nuclear facilities. CNN cited U.S. officials and added that it was not clear whether Israeli leaders had made a final decision. Brent crude futures fell 47 cents, or 0.7%, to settle at $64.91 a barrel. U.S. West Texas Intermediate crude fell 46 cents, or 0.7%, to settle at $61.57. Iran is the third-largest oil...
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...