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...
Oil extended a decline as the global trade war hurt the outlook for demand, with data indicating strain in the US economy and China pushing back against the Trump administration's tariffs. Brent slipped below $65 a barrel, down for a second day, with West Texas Intermediate near $61. A widely referenced gauge of US manufacturing weakened significantly, another sign of the drag from President Donald Trump's levies. Other data due this week will shed further light on trading conditions. Brent is on track for the largest monthly loss since 2021, with prices battered by tit-for-tat...
The AUD/USD pair retraces to near 0.6400 during European trading hours on Tuesday from an over four-month high of 0.6450 posted earlier in the day. The Aussie pair corrects sharply as the US Dollar (USD) gains despite increasing uncertainty over the bilateral trade outlook between the United States (US) and China. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rebounds to near 99.30 after a steep correction on Monday. Market sentiment is favorable as investors expect the trade war will be limited between the world's two largest powerhouses....
Silver prices hovered around $33 per ounce on Tuesday, stabilizing after a recent pullback as investors awaited clarity on US-China trade relations and key US economic releases. China reiterated that it is not engaged in trade talks with the US, countering claims made by President Donald Trump. Meanwhile, US Treasury Secretary Scott Bessent said several major trading partners have made "very good" tariff proposals, and a trade agreement with India could be announced soon. Bessent also noted that China's move to exempt certain US goods from retaliatory tariffs signaled a willingness to ease...
The dollar recouped some of its losses on Tuesday, supported by reports that the U.S. administration may ease planned tariffs, although investor caution lingered over whether a meaningful de-escalation in the U.S.-China trade conflict was in motion. The administration of U.S. President Donald Trump is set to take steps on Tuesday to soften the impact of his automotive tariffs. The United States and China in recent days seemed to have softened their respective stances, with Washington signalling openness to reducing tariffs and Beijing exempting some U.S. imports from its 125%...
Gold prices dropped on Tuesday as softening trade tensions between the U.S. and its trading partners dulled the metal's safe-haven appeal, while investors awaited U.S. economic data to assess the Federal Reserve's policy path. Spot gold was down 0.8% at $3,314.65 an ounce, as of 0619 GMT. U.S. gold futures lost 0.7% to $3,324.20. "The risk environment has clearly improved recently, with market participants buoyed by optimism that the worst of the trade tensions may be behind us amid encouraging rhetoric around trade deals," said IG market strategist Yeap Jun Rong. U.S. Treasury Secretary...
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...