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...
Silver prices fell over 1% toward $32 per ounce on Thursday, marking a third consecutive session of decline, as easing global trade tensions dampened demand for safe-haven assets. Sentiment shifted after US President Donald Trump signaled potential trade agreements with India, Japan, and South Korea, and voiced optimism about a deal with China. At the same time, silver's industrial demand outlook came under pressure amid weaker economic data from major economies. The US economy unexpectedly contracted by 0.3% on an annualized basis in the first quarter—its first negative growth in three...
Oil prices steadied on Thursday a day after a steep decline triggered by signs that Saudi Arabia, the world's biggest crude exporter, may raise output and data showing a contraction in the economy of the U.S., the world's biggest oil consumer. Brent crude futures fell 6 cents, or 0.1%, to $61 a barrel as at 0730 GMT. U.S. West Texas Intermediate crude futures fell 12 cents or 0.2%, to $58.09. WTI closed at its lowest since March 2021 on Wednesday. "In the near term, the path of least resistance remains tilted to the downside," said Sugandha Sachdeva, founder of SS WealthStreet, a New...
Gold eased to hit its lowest level in two weeks on Thursday as the dollar's strength and easing trade tensions dulled the metal's safe-haven allure, while investors awaited the U.S. non-farm payrolls report. Spot gold was down 1.6% at $3,235.55 an ounce as of 0629 GMT, after hitting its lowest level since mid-April. The dollar (.DXY), opens new tab rose 0.4% against its peers, making bullion more expensive for overseas buyers. U.S. President Donald Trump said he has "potential" trade deals with India, South Korea and Japan as he sought to convert his tariff policy into trade...
Gold price (XAU/USD) extends its downtrend for the third successive day and drops to over a two-week low, around the $3,221 region during the Asian session on Thursday. Signs of easing trade tensions between the US and China – the world's two largest economies – continue to undermine demand for traditional safe-haven assets and exert downward pressure on the precious metal. Furthermore, the US Dollar (USD) climbs to a two-week top and further contributes to driving flows away from the commodity and the intraday downfall. Meanwhile, the surprise contraction in the US GDP and signs of easing...
The Australian Dollar (AUD) is facing headwinds against the US Dollar (USD) as traders adopt caution ahead of the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers Index (PMI) data from the United States (US) release due later on Thursday. However, the AUD/USD pair received support after the release of Trade Balance data from Australia. The Australian Bureau of Statistics reported a trade surplus of AUD 6.9 billion for March, significantly surpassing expectations of AUD 3.13 billion and the revised February figure of AUD 2.85 billion (down from AUD 2.97 billion). 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...