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 slid over 1% to dip below $33.50 per ounce on Thursday, reaching a one-week low as traders grappled with market uncertainties following US President Donald Trump's sweeping tariff measures. Trump imposed a 10% baseline tariff on all imports, with steeper levies targeting major trading partners such as China (34%), the EU (20%), and Japan (24%). Additionally, a 25% tariff on foreign-made automobiles took immediate effect. Defending the move, Trump framed the tariffs as a strategy to bolster domestic manufacturing and reduce trade deficits. While gold surged to a record high in...
The Pound Sterling (GBP) surges above 1.3100 against the US Dollar (USD) during the European trading hours on Thursday, the highest level seen in almost six months. The GBP/USD pair soars as the US Dollar plummets after United States (US) President Donald Trump unveils worse-than-expected tariffs for his trading partners. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, tumbles to near 102.70. US President Trump announced a 10% baseline duty on all products entering the US and additional specific levies on the majority of its trading allies, which...
Gold dipped on Thursday as traders locked in profits after prices hit a record high, following a rush to safe-haven assets triggered by U.S. President Donald Trump's aggressive import tariffs, which escalated the already intense global trade war. Spot gold was down 0.4% at $3,122.1, as of 0710 GMT. Earlier in the session, bullion hit an all-time high of $3,167.57. U.S. gold futures fell 0.7% to $3,145.00. Trump unveiled on Wednesday a 10% baseline tariff on all imports to the U.S., and higher duties on dozens of countries, including some of its biggest trading partners, deepening a trade...
The dollar index fell below 103 on Thursday, hitting its lowest level in nearly six months as traders digested President Donald Trump's sweeping tariff measures. Late Wednesday, Trump announced a comprehensive tariff package aimed at reshaping US trade relationships. The measures include a 10% baseline tariff on all imports, with higher rates for key trade partners, such as China (34%), the European Union (20%), and Japan (24%). Additionally, a 25% tariff on all foreign-made automobiles took immediate effect. Meanwhile, fresh economic data painted a mixed picture. The ADP report showed a...
Gold price (XAU/USD) shot to a fresh record high during the Asian session on Thursday as investors rushed to take refuge in traditional safe-haven assets amid the risk-off impulse. US President Donald Trump announced sweeping reciprocal tariffs on Wednesday evening, sparking concerns about global economic growth and a recession in the US. This, in turn, sparked a severe risk-off move, which is evident from a sea of red across the equity markets, and provided a strong boost to bullion. Meanwhile, the anti-risk flow, along with the growing acceptance that a tariff-driven US economic slowdown,...
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...