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...
Gold traded around $3,030 per ounce on Friday, remaining near record highs, and headed for a third weekly gain, driven by dovish signals from the Federal Reserve and safe-haven demand. On Wednesday, the Fed acknowledged rising economic uncertainty and reaffirmed plans for two rate cuts this year, boosting non-yielding gold. Fed Chair Powell also downplayed President Trump's tariff impact on inflation as "transitory", however he reiterated no urgency to cut rates. Meanwhile, tensions continued to escalate in the Middle East, as Israel expanded its Gaza offensive, Hamas struck Tel Aviv, and...
The Japanese yen slipped to around 149 per dollar on Friday, snapping a two-day advance as investors reacted to the latest inflation figures. Japan's core inflation rate slowed to 3% in February from 3.2% in January but still exceeded forecasts of 2.9%. This marked the second consecutive month that inflation surpassed expectations, highlighting persistent price pressures and reinforcing the case for further interest rate hikes. Earlier this week, the Bank of Japan kept its policy rate steady at 0.5%, as widely anticipated. Policymakers maintained a cautious stance, opting to assess the...
The US dollar index held its recent advance to around 103.8 on Friday as investors continued to assess the Federal Reserve's monetary policy stance. On Wednesday, the Fed kept policy unchanged but signaled two interest rate cuts this year. The central bank also highlighted rising risks to growth, employment, and inflation in its latest economic projections. Meanwhile, Fed Chair Jerome Powell downplayed concerns over the inflationary impact of President Donald Trump's tariffs, calling them "transitory," but reiterated that the central bank is in no rush to cut rates further. Traders are...
Oil extended gains after the US sanctioned a Chinese refinery for the first time in a marked step-up of measures to curb oil flows from Iran. West Texas Intermediate rose toward $69 a barrel after advancing on Thursday, with Brent crude closing at $72. The US penalized a Chinese oil refinery — Shandong Shouguang Luqing Petrochemical Co. — and its chief executive officer for allegedly buying Iranian oil, the Trump administration's first intervention in the Asian nation's refining system. Crude is on track for its biggest one-week gain since mid-January, after US data...
Gold price retreats on Thursday as bulls take a breather following the Federal Reserve's (Fed) latest monetary policy decision and an escalation of hostilities in the Middle East. The XAU/USD trades at $3,042, down over 0.19% Market sentiment turned negative, while the Greenback stages a recovery as depicted by the US Dollar Index (DXY), which tracks a basket of six currencies against the buck. Gold traders failed to drive prices higher, even though the Fed held rates unchanged at the 4.25%–4.50% range for the second consecutive meeting. Officials added that they will slow down the pace 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...