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 fell on Friday after U.S. President Donald Trump announced a trade deal with the UK, dimming bullion's safe-haven appeal, while attention shifted to U.S.-China talks this weekend. Spot gold fell 0.8% to $3,277.67 an ounce, as of 0217 GMT. U.S. gold futures lost 0.7% to $3,282.80. Trump and British Prime Minister Keir Starmer announced a "breakthrough deal". A 10% tariff on goods imported from the UK remains in place, while Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to U.S. goods. "I think the progress in trade talks and the U.S.-UK deal is the...
The AUD/USD pair extended its decline for the third straight session, trading near 0.6390 during the Asian session on Friday (09/05). The Australian dollar (AUD) remained pressured amid stalled progress in the US-China trade negotiations. Given the close economic ties between Australia and China, any pressure on the Chinese economy is likely to weigh on the AUD. Beijing is unlikely to ease tariffs ahead of upcoming talks in Switzerland, according to the Global Times—citing the Chinese Embassy in the United States. This has added to market uncertainty and dampened risk sentiment. In the...
Gold edged higher — after a tumultuous week in which it jumped nearly 6% in the first two sessions before retracing most of those gains — as markets digested the new U.S.-UK trade deal. Bullion was trading above $3,316 an ounce, up more than 2% for the week. The pact gives the U.S. better market access and a faster customs process for exports to the U.K., while the U.K. will see limited relief on auto, steel and aluminum tariffs. However, it falls short of the "complete and comprehensive" deal promised by President Donald Trump. Trump also said he was confident that this weekend's trade...
Oil extended gains as the market turned its attention to trade talks between the U.S. and China later this week after President Donald Trump announced a deal with the U.K. West Texas Intermediate rose above $60 a barrel after rising 3.2% in the previous session. Brent settled near $63. Trump said negotiations with China would produce real progress, although Beijing reiterated its call on Thursday for the U.S. to roll back tariffs before talks. Crude has fallen since mid-January on concerns that Trump's tariffs will hamper economic growth, and as OPEC+ moves to revive stalled production....
GBP/USD kicked off Thursday with an early spat of gains, fueled by the Bank of England (BoE) delivering the market a widely-anticipated quarter point rate cut. However, bullish momentum behind the Pound Sterling evaporated quickly as markets pivoted toward trade headlines from the United States (US). Investors are hoping for quick progress on the US making trade deals that will allow it to climb down from its own self-imposed tariff stance. Market sentiment pinned firmly on the high side and bolstered the US Dollar (USD) after the Trump administration announced an impending trade deal...
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...