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...
The Australian Dollar (AUD) remained steady after Australian Treasurer Jim Chalmers presented the 2025/26 budget and the Treasury's key economic forecasts before Parliament on Tuesday, including new tax cuts, with two rounds totaling approximately A$17.1 billion. Australia's budget deficit is projected at A$27.6 billion for 2024-25 and A$42.1 billion for 2025-26. Australia's GDP is expected to grow by 2.25% in fiscal year 2026 and 2.5% in fiscal year 2027. The tax cuts are likely aimed at bolstering political support. The AUD finds support as investors anticipate the Reserve Bank of...
Gold price (XAU/USD) struggles to build on modest intraday gains, though it manages to hold above the $3,000 psychological mark through the first half of the European session on Tuesday. The global risk sentiment remains well supported by hopes for less disruptive US trade tariffs, optimism over the Russia-Ukraine peace deal, and China's stimulus measures. Furthermore, the US Dollar (USD) preserved its recent recovery gains to a near three-week high touched on Monday, which, in turn, acts as a headwind for the precious metal. However, the growing acceptance that the Federal Reserve (Fed)...
Silver prices stabilized above $33 per ounce on Tuesday, recovering from recent declines as trade uncertainties and broader economic concerns fueled demand for safe-haven assets. Hopes that US President Donald Trump may take a more targeted approach to tariffs ahead of the April 2 deadline provided some market relief. However, his pledge on Monday to impose levies on automobiles, pharmaceuticals, and other industries added to uncertainty. Meanwhile, expectations of further interest rate cuts from the US Federal Reserve also supported silver prices. Traders are currently pricing in two...
Gold prices edged higher in Asian trade on Tuesday, staying below recent record highs as concerns eased over the severity of U.S. President Donald Trump's planned trade tariffs. However, demand for the safe-haven asset remained relatively high amid uncertainty over what tariffs will be imposed by Trump's April 2 deadline. Investors are also cautious ahead of a series of key economic readings this week. Gold and other precious metals pulled back from recent peaks this week, as risk appetite improved on reports that Trump's tariffs would not be as severe as feared. However, a weaker dollar...
The dollar hit a three-week high against the yen on Tuesday and strengthened across the board after some strong U.S. services data and cautious optimism on the tariff front. President Donald Trump said not all of the levies he threatened would be imposed on April 2 and that some countries might get relief, helping the dollar and the mood on Wall Street overnight by easing some concerns about a possible slowdown in U.S. growth. The dollar was last up at 150.56, after rising above 150 yen overnight ?t;JPY=EBS⪐. It rose to a three-week high of 150.92 yen in early Asian trading. The lack of...
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...