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 AUD/USD pair extended its upward momentum for the fourth straight session, holding around the 0.6510 mark during Asian trading hours on Wednesday (07/05). The Australian dollar (AUD) found support from the release of mid-tier domestic economic data and improving global trade sentiment. In April, the AiG Industrial Index rose by 5.1 points to -15 on a seasonally adjusted basis, signaling a moderate improvement despite persistent headwinds in the industrial sector. Headwinds such as global trade uncertainty, currency volatility, and the upcoming federal election continued to weigh on...
Oil prices rose after rising more than 3% in the previous session as the U.S. and China agreed to start trade talks, raising optimism that tensions between the world's two largest economies could ease. West Texas Intermediate crude rose near $60 a barrel after rising the most in nearly three weeks on Tuesday. Brent crude settled above $62. U.S. Treasury and Commerce officials are due to travel to Switzerland this week for talks with Chinese officials, the first such discussions since President Donald Trump imposed sweeping tariffs. Crude is facing increasing pressure from escalating trade...
Gold fell in early Asia on a possible technical correction after front-month Comex gold futures closed up 3% at a fresh record high of $3,411.40/oz on Tuesday. Gold prices may be weighed down by positioning ahead of the outcome of today's two-day FOMC meeting. While the FOMC is widely expected to hold rates, Fed Chair Powell's press conference will be scrutinized for any change in tone, Konstantinos Chrysikos of Kudotrade said in an email. "A hawkish stance would likely benefit Treasury yields and limit gold's upside," the head of Client Relationship Management added. Spot gold was down 1.2%...
The AUD/USD pair corrects sharply to near 0.6450 in Tuesday's European session from the five-month high of 0.6500 posted on Monday. The Aussie pair retraces as the Australian Dollar (AUD) underperforms across the board due to a slowdown in business activity in China.Signs of moderate growth in economic activities in China weigh heavily on the Aussie Dollar, given Australia's significant reliance on its exports to Beijing. Caixin Manufacturing and Services Purchasing Managers' Index (PMI) data for April have demonstrated that businesses are facing pressure due to the fallout of higher...
Crude Oil WTI Futures rebounded Tuesday, following a slump a day earlier when major oil producers announced plans to ramp up production in the coming months, but the bears may soon retake the reins, Scotiabank (TSX:BNS) says, warning of a supply surplus. "The latest OPEC+ June quota increase of another 411,000 barrels per day will further pressure the already weakened oil market," Scotiabank analysts said in a recent note. The analysts expect that as Saudi Arabia ramps up production to its new quota, global supply could exceed demand by up to 1 million barrels per day for the rest of 2025...
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...