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...
After reaching its highest level in three weeks near 100.40 on Thursday, the US Dollar (USD) Index corrects lower to start the European session on Thursday. The US Bureau of Labor Statistics will publish April employment data, which will feature wage inflation, Unemployment Rate and Nonfarm Payrolls figures. Earlier in the day, the European economic calendar will offer preliminary Harmonized Index of Consumer Prices (HICP) data, the European Central Bank's (ECB) preferred gauge of inflation, for April.Despite mixed macroeconomic data releases from the US, the USD outperformed its rivals on...
Gold price (XAU/USD) struggles to capitalize on modest intraday gains on Friday and remains below the $3,260-3,265 support breakpoint, now turned resistance, through the Asian session. The optimism over a possible US-China trade deal remains supportive of the upbeat market mood and acts as a headwind for the safe-haven precious metal. However, bets for more aggressive policy easing by the Federal Reserve (Fed) cap the recent US Dollar (USD) move up to a multi-week high and lend some support to the commodity. Traders, however, seem reluctant to place aggressive directional bets and opt to...
The Australian Dollar (AUD) is rebounding modestly against the US Dollar (USD) on Friday, retracing some of the previous session's losses. Australia's Retail Sales—a key indicator of consumer spending—increased by 0.3% month-over-month in March, up from a 0.8% rise in February (revised from 0.2%), according to data released Friday by the Australian Bureau of Statistics (ABS). However, the figure fell short of market expectations, which had forecast a 0.4% gain. However, the AUD/USD pair remains vulnerable as falling metal prices weigh on sentiment. Key commodities like iron ore, copper, and...
The Japanese yen traded near 146 per dollar on Friday after losing about 1.6% in the previous session, weighed down by easing safe-haven demand amid progress in US-China trade relations. China said it is considering the possibility of trade talks after multiple outreach efforts by the U.S. to initiate tariff negotiations. Meanwhile, Japan and the U.S. concluded a second round of bilateral trade talks this week, with Tokyo aiming to finalize an agreement by June. On the domestic front, Japan's unemployment rate edged up to 2.5% in March, though the labor market remained relatively tight....
Silver (XAG/USD) builds on the previous day's goodish bounce from the $31.65 area, or a nearly three-week low, and gains some follow-through traction during the Asian session on Friday. The white metal climbs back above mid-$32.00s in the last hour and for now, seems to have snapped a three-day losing streak, though the technical setup warrants some caution before positioning for any further gains. The overnight sustained breakdown below the 100-hour Simple Moving Average (SMA) was seen as a key trigger for bearish traders. Moreover, oscillators on daily/4-hour charts have been gaining...
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...