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 US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, lost ground on Tuesday, slipping to 101.50 as inflation data for April came in softer than expected. While CPI rose 0.2% monthly and 2.3% annually, missing forecasts, core inflation held steady at 2.8%. Traders remain cautious amid vague trade commitments with China and the UK, and there are new uncertainties after President Trump pushed ambitious investment and tax plans without detailing how they would impact the economy. Despite tariff de-escalation headlines, the Fitch-rated effective...
Crude oil futures climbed more than $1.60 a barrel on Tuesday, lifted by a temporary cut in U.S.-China tariffs and a better-than-expected inflation report. Brent crude futures settled at $66.63 a barrel, up $1.67, or 2.57%. U.S. West Texas Intermediate (WTI) crude finished at $63.67, up $1.72 or 2.78%. The two benchmarks rose by about 4% or more in the previous session after the U.S. and China agreed on sharp reductions to their import tariffs for at least 90 days, which also boosted stocks on Wall Street and the dollar. "We didn't participate as much as other markets did yesterday in the...
Gold prices traded with a positive tone on Tuesday, following Monday's drop of over 2.70%, exchanged hands at around $3,250, up by 0.42%. A softer-than-expected US inflation report and the trade truce between China and the US may keep Gold prices capped beneath the $3,300 figure. US inflation data for April was slightly softer than expected by market participants on a monthly basis. Annual basis figures were aligned with projections, indicating that the tariff effect has not been reflected so far in the "hard data." Meanwhile, analysts at a major US commercial bank revealed that tariffs...
Gold prices rose on Tuesday as the dollar crept lower and initial optimism over a trade truce between the United States and China ebbed, while investors looked forward to U.S. inflation data due later in the day. Spot gold was up 0.6% at $3,255.09 an ounce, as of 1144 GMT, after dropping more than 2% in the previous session. U.S. gold futures were up 0.9% at $3,258.40. The dollar index (.DXY), opens new tab slipped 0.2% after a sharp rise in the previous session. A weaker greenback makes gold less expensive for those holding other currencies. "The uncertainty around the trade tariffs...
Oil continued its recovery as attention moved from the deescalation of the US-China trade war towards the Middle East. Brent rose above $65 a barrel, after gaining more than 6% in the previous three sessions. President Donald Trump, who signaled progress in nuclear talks with Iran, started his trip to the Middle East on Tuesday with a stop in Saudi Arabia, OPEC+'s de-facto leader. The kingdom has pushed for the cartel to increase production to punish non-compliant members, contributing to a recent drop in prices. The 90-day truce on tariffs between the...
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...