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 prices dropped to their lowest in more than four years on Wednesday on looming demand concerns fuelled by an escalating tariff war between the U.S. and China, the world's two biggest economies, and a rising supply outlook. Brent futures lost $2.38, or 3.79%, to $60.44 a barrel as of 0423 GMT. U.S. West Texas Intermediate crude futures fell $2.46, or 4.13%, to $57.12. Both contracts touched their lowest level since February 2021. The six-month spread for Brent slumped to 79 cents, its lowest level since mid-November, as the market was seen moving into a potential surplus. The spread has...
US President Donald Trump's global reciprocal kick in on Wednesday, fuelling a fresh risk-aversion wave across the financial markets, spiking up the demand for the traditional safe haven Gold. China is hit hardest with 104% tariffs by the US, heighening US-Sino trade tensions. Gold price is underpinned by US tariffs-inspired global flight to safetyThe White House press secretary Karoline Leavitt confirmed that the US will proceed with a sweeping 104% tariff on Chinese imports starting this Wednesday. This continues to fuel worries that an all-out trade war would push the global economy into...
The EUR/USD pair rises to near 1.1065 during the early European session on Wednesday. The US Dollar weakens against the Euro after US President Donald Trump's tariff policy takes effect. Later on Wednesday, traders will take more cues from the release of the FOMC Minutes. The Euro (EUR) gathered balance and prompted EUR/USD to leave behind two daily drops in a row and refocus on the upside, briefly flirting with the psychological 1.1000 hurdle. In fact, the US Dollar (USD) succumbed to the resurgence of the selling pressure on Tuesday as hopes of some negotiation surrounding US tariffs seem...
The GBP/USD pair advances for a second straight session, trading near 1.2820 during Asian hours on Wednesday. The pair's uptick is supported by easing trade tensions after US President Donald Trump signaled openness to negotiations with global partners, fueling hopes of a potential de-escalation in trade conflicts. US Customs and Border Protection confirmed on Tuesday that it is prepared to begin collecting country-specific tariffs from 86 trade partners. While President Trump maintained his broader tariff plans despite requests for exemptions, he indicated a willingness to engage in...
The Australian Dollar (AUD) halts its three-day losing streak against the US Dollar (USD) on Wednesday, supported by comments from US President Donald Trump suggesting a willingness to negotiate with trade partners. Trump's remarks boosted optimism for a potential easing of global trade tensions. US Treasury Secretary Scott Bessent revealed that nearly 70 countries have reached out to the White House seeking to negotiate tariffs. Despite this, market volatility is expected to remain elevated after Trump threatened to impose an additional 50% tariff on Chinese imports if Beijing does not...
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...