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 rose above $31 per ounce on Thursday, extending gains for a second session as commodities rebounded after Trump's reversal on his reciprocal tariff policy. Trump dropped new tariff rates on imports from most US trade partners to 10% for 90 days to allow for trade negotiations. However, top consumer China remains subject to a steep 125% tariff amid continued tit-for-tat escalations between Washington and Beijing—maintaining a level of geopolitical and economic uncertainty that continues to support safe-haven demand. Meanwhile, minutes from the latest FOMC meeting revealed that...
USD/CHF pair loses ground to near 0.8530 during the early European session on Thursday. The US Dollar (USD) weakens against the Swiss Franc (CHF) amid the escalating trade tension between the US and China, the world's two largest economies. President Donald Trump announced a 90-day pause on many new tariffs on trading partners to 10% to allow trade negotiations with those countries. However, US-China trade relations have reached a crisis level, with Trump raising tariffs to 125% on Chinese imports on Thursday, up from the 104% implemented just a day earlier. Escalating trade war between...
The EUR/USD pair attracts some buyers to around 1.0980 during the Asian session on Thursday. The Euro (EUR) edges higher against the Greenback as German conservative leader agreed on a coalition deal with the center-left Social Democrats on Wednesday. The US March Consumer Price Index (CPI) inflation report will be the highlight later on Thursday. On Wednesday, German conservatives under Friedrich Merz clinched a coalition deal with the center-left Social Democrats (SPD) to boost growth in Europe's biggest economy amid a global trade war that threatens recession. This development is likely...
Oil prices retreated on Thursday as U.S. President Donald Trump ramped up a trade war with China, even as he announced a 90-day pause on tariffs aimed at other countries. Brent futures fell 77 cents, or 1.18%, to $64.71 a barrel by 0320 GMT, while U.S. West Texas Intermediate crude futures fell 65 cents, or 1.04%, to $61.70. Following the tariff pause for most countries, the benchmark crude contracts had settled 4% higher on Wednesday after dropping as much as 7% during the session. Trump, however, raised the tariff rate for China to 125% effective immediately, from the previously...
The GBP/USD pair recovers its daily losses and continues its winning streak for the third successive session, hovering around 1.2850 during Asian trading hours on Thursday. The British Pound (GBP) came under pressure following the release of weaker-than-expected data from the RICS Housing Price Balance, which showed just a 2% increase in March. This marked a significant slowdown from the 20% and 11% gains recorded in January and February, respectively, and fell far short of the anticipated 8% rise highlighting a stagnation in price growth over recent months. Further weighing on the British...
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...