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...
EUR/USD retraced recent gains from the previous session, holding near 1.1360 during the Asian session on Wednesday (07/05). Technical analysis on the daily chart continues to show a bullish bias, with the currency pair remaining within an ascending channel pattern. The EUR/USD pair remains marginally above the nine-day Exponential Moving Average (EMA), signaling strong near-term bullish momentum. The 14-day Relative Strength Index (RSI) is also holding above the 50 mark, further supporting the prevailing bullish bias. On the upside, the EUR/USD pair could retest the April 21 high of 1.1573...
Silver (XAG/USD) weakened on Wednesday (07/04) during Asian trading hours, hovering around $33.00 an ounce after two consecutive days of gains. The decline came as safe-haven demand weakened following news that US and Chinese officials will meet this week to discuss trade, raising hopes of a de-escalation. In a key development, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are scheduled to meet Chinese Vice Premier He Lifeng in Geneva over the weekend. This marks the first high-level dialogue since the US imposed tariffs that sparked a global trade conflict....
The Japanese Yen (JPY) weakened across the board during the Asian session on Wednesday (07/05) as optimism over the US-China trade talks was seen denting demand for traditional safe-haven assets. This comes on top of uncertainty over the likely pace and timing of future interest rate hikes by the Bank of Japan (JPY), which was seen weighing on the JPY. This, along with a modest uptick in the US Dollar (USD), helped the USD/JPY pair to gain some positive traction and snap a three-day losing streak to a near one-week low touched on Tuesday. However, investors seem convinced that the BoJ could...
The dollar was steady on Wednesday before a Federal Reserve meeting to determine policy for an uncertain economy and as major investors in Asia continued to cash out of U.S. assets. News that the United States and China will hold talks on Saturday eased concerns about a trade war that has shaken investor confidence in the dollar and U.S. markets. Fed Chair Jerome Powell is expected to say more data is needed before deciding on the U.S. central bank's next move. There appears to be a slowdown in dollar selling since last week, which has been driven by investors globally, particularly in...
Gold prices fell on Wednesday as optimism over potential US-China trade talks dampened demand for safe-haven assets, while investors prepared for a Federal Reserve policy meeting later in the day. Spot gold fell 1.2% to $3,388.67 an ounce by 0225 GMT. The metal had gained nearly 3% in the previous session. US gold futures fell 0.7% to $3,397.70. "Gold appears to be pulling back amid the broad risk-on movement across the market ... this is a pro-cyclical configuration that may echo optimism amid hints that the US and China have begun real trade negotiations," said Ilya Spivak, global head...
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...