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...
Citi released its latest currency analysis, projecting a moderate strengthening of the Swiss Franc (CHF) against the US Dollar (USD) while anticipating a slight weakening against the Euro (EUR). The financial services company indicated that the Swiss National Bank's (SNB) monetary easing and the growing interest rate differential with the US and the eurozone are unlikely to significantly depress the CHF. Nonetheless, these measures could help to curb any substantial appreciation of the currency. Citi's currency strategists foresee the CHF trading within a core range of CHF0.85 to CHF0.90...
Gold climbed to another record high early on Thursday as the dollar weakened after U.S. President Donald Trump said he will impose 25% tariffs on auto imports into the United States. Gold for June delivery was last seen up US$37.60 to US$3,089.90 per ounce, rising above Tuesday's record close of US$3,044.00. Trump's impulsive tariffs threats are boosting safe-haven demand for gold, as global equity markets are roiled by the levies, which promise to boost inflation and slow global growth. "Ongoing uncertainty around tariffs after Trump's auto tariff announcement and the broader April...
Crude prices have climbed to one-month highs on heightening geopolitical risks and supply concerns, but Citigroup (NYSE:C) sees the likelihood of a lower trading range through most of 2025. At 08:30 ET (12:30 GMT), the benchmark Brent contract slipped 0.2% lower to $72.93 per barrel, after having risen back to levels around $74 a barrel on heightened geopolitical risks of U.S. policies that could hit Venezuela and Iran's oil exports. This reverses the oil sell-off in early March that took prices down to $69 a barrel, when the Organization of Petroleum Exporting Countries and allies, known...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is currently flat to marginally lower after paring back earlier gains at 104.40 at the time of writing on Thursday. The DXY edged higher overnight on the back of tariff comments from United States (US) President Donald Trump. An additional 25% levy on all auto imports was issued to come into effect on April 3 and countries such as Canada and the European Union were threatened with more tariffs if they look to team up in their response to the US. On the economic data front, all...
Silver prices rose above $33.70 per ounce on Thursday, extending weekly gains to over 2% as escalating global trade tensions fueled demand for safe-haven assets. On Wednesday, President Donald Trump announced a 25% tariff on all imported cars and light trucks, set to take effect on April 2, alongside reciprocal tariffs on countries imposing levies on US goods—measures he vowed to maintain throughout his second term. The tariffs raised fears of retaliation, adding pressure on US economic growth while potentially reigniting inflation. Meanwhile, expectations of further Federal Reserve rate...
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...