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 USD/CHF pair weakened to around 0.8830 during the Asian trading hours on Tuesday (3/25), pressured by a decline in the US Dollar (USD). Traders will keep an eye on the US Conference Board's Consumer Confidence gauge, New Home Sales, and the Richmond Fed Manufacturing Index, due on Tuesday. Data released by S&P Global on Monday showed that the US Composite PMI rose to 53.5 (preliminary) in March from 51.6 in February. Meanwhile, the Manufacturing PMI fell to 49.8 in March compared to 52.7 previously, missing the estimate of 51.9. The Services PMI improved to 54.3 in March from 51.0...
Oil prices were little changed on Tuesday as markets weighed the impact of newly announced U.S. tariffs on countries that buy Venezuelan oil and an uncertain outlook for global demand. Brent crude futures were up 1 cent at $73.01 a barrel by 0424 GMT. U.S. West Texas Intermediate crude futures were down 1 cent at $69.10. Both benchmarks rose more than 1% on Monday after U.S. President Donald Trump announced 25% tariffs on countries that import Venezuelan oil and gas. Oil is Venezuela's main export and China, already subject to U.S. tariffs, is its biggest buyer. "Investors are concerned...
GBP/USD held steady around 1.2920 during the Asian session on Tuesday (3/25) after a surge in the previous session. However, the pair held steady amid a US Dollar (USD) correction. The greenback strengthened, supported by strong S&P Services PMI data and cautious remarks from Federal Reserve officials. The S&P Global Services PMI jumped to 54.3 in March, the highest in three months, up from 51.0 in February and surpassing market expectations of 50.8. The services sector rebounded sharply from a 15-month low, while the Composite PMI rose to 53.5, marking its strongest expansion since...
Gold (XAU/USD) prices struggled to gain any meaningful traction during the Asian session on Tuesday (March 25), albeit held above the psychological $3,000 mark amid mixed fundamental cues. The US Dollar (USD) held on to its recent recovery from multi-month lows and hovered near three-week highs touched on Monday. Moreover, the upbeat market mood, supported by hopes for less disruptive US trade tariffs, a Russia-Ukraine peace deal, and optimism over Chinese stimulus, acted as a headwind for the safe-haven precious metal. Meanwhile, growing acceptance that the Federal Reserve (Fed) will soon...
Silver (XAG/USD) prices snapped a four-day losing streak, trading around $33.10 per troy ounce during Asian market hours on Tuesday (3/25). The recovery was driven by increased demand for safe-haven assets amid rising geopolitical tensions. The United Nations (UN) announced on Monday that it would reduce its international staff in Gaza by about a third after Israeli airstrikes killed hundreds of civilians, including UN personnel. After a two-month ceasefire brought relative calm to the 18-month war, Israel resumed a full-scale air and ground campaign against Hamas on Tuesday. Palestinian...
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...