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...
GBP/USD briefly touched the 1.3200 level for the first time in six months on Thursday (03/4), climbing to a new high as the greenback turned sour across the board. The Trump administration's "reciprocal" tariffs and fixed tariffs have shaken market sentiment, although a delayed reaction to the tariff announcement came after the US market closed on Wednesday. Forex Today: US NFP to take centre stage The UK economic data schedule is relatively quiet this week, but a fresh report on US Nonfarm Payrolls (NFP) is due on Friday. The NFP data could have a significant impact on markets as the US...
During the Thursday (03/4) session, the USD/CHF pair experienced a sharp decline, falling to the 0.8600 region and marking its weakest level in almost six months. The bearish move came amid a broad-based US dollar weakness following President Donald Trump's aggressive announcement of reciprocal import tariffs. The US Dollar Index (DXY) took a heavy hit, falling decisively as traders fled US assets and reallocated portfolios away from the Greenback. Meanwhile, oversold signals from momentum indicators suggest the pair may be poised for a comeback. Tariff shock hits US dollar President...
Oil prices plunged on Thursday (03/4) and closed with their biggest percentage drop since 2022, after OPEC+ agreed to a surprise output increase a day after U.S. President Donald Trump announced sweeping new import tariffs Brent crude futures settled at $70.14 a barrel, down $4.81, or 6.42%. U.S. West Texas Intermediate crude <CLc1> settled at $66.95 a barrel, down $4.76, or 6.64%. Brent was on track for its biggest percentage drop since Aug. 1, 2022, and WTI was on track for its biggest drop since July 11, 2022. At a ministerial meeting on Thursday, OPEC+ nations agreed to advance...
Gold prices pared losses on Thursday after falling more than 2% from an all-time high, as a broad market sell-off triggered by U.S. President Donald Trump's tariffs on imports caught up with bullion traders. Spot gold fell 0.85% to $3,106.99 by 1:47 a.m. EDT (1747 GMT) after hitting a record high of $3,167.57 earlier in the session. U.S. gold futures settled 1.4% lower at $3,121.70 Traders attributed the decline to some profit-taking and margin calls in other asset classes that likely prompted investors to sell some of their gold holdings to cover losses. "When the market sells off on...
Silver prices fell nearly 5% during North American trading hours on Thursday (03/4), testing the sub-$32.00 region. The white metal prices became vulnerable after United States (US) President Donald Trump unveiled a detailed reciprocal tariff plan for its trading partners. The "Buy the Rumor, Sell the News" indicator forced traders to trigger the sell button for Silver prices. The metal had previously performed strongly, along with Gold, over the past few months as investors grew convinced that Trump's tariffs would be inflationary and weigh on economic growth globally, including in the US....
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...