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 US Dollar Index (DXY), which tracks the US Dollar (USD) against six major currencies, extends its winning streak for a third consecutive day amid improved Treasury yields. The DXY is trading near 104.00 with 2- and 10-year yields on US Treasury bonds standing at 3.96% and 4.29%, respectively, during Asian hours on Friday. The Greenback strengthened after better-than-expected jobless claims and weaker-than-anticipated Producer Price Index (PPI) data released on Thursday. Traders now await the preliminary Michigan Consumer Sentiment Index for March, set for release in the North American...
Gold price (XAU/USD) extends its consolidative price move near the all-time peak touched the Asian session on Friday. Positive comments out of the White House and from Canadian officials, along with reports that there will be enough Democratic votes to avoid a US government shutdown, boost investors' confidence. This is evident from a generally positive tone around the equity markets, which, along with some follow-through US Dollar (USD) buying for the third straight day, acts as a headwind for the safe-haven precious metal. However, the growing market acceptance that the Federal Reserve...
Oil prices rebounded on Friday to recover some of their more than 1% losses in the previous session, partly due to diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies. Brent crude futures rose 46 cents, or 0.7%, to $70.34 a barrel by 0406 GMT after settling 1.5% lower in the previous session. U.S. West Texas Intermediate crude was at $67.03 a barrel, up 48 cents, or 0.7%, after closing down 1.7% on Thursday. Russian President Vladimir Putin said on Thursday that Moscow supported a U.S. proposal for a ceasefire in Ukraine in principle,...
GBP/USD continues its decline for the second straight session, trading near 1.2940 during Friday's Asian session. The pair faces challenges as the Pound Sterling (GBP) struggles amid weakened risk sentiment, exacerbated by concerns over global trade after US President Donald Trump threatened a 200% tariff on European wines and champagne, unsettling markets. Traders now await the UK's monthly Gross Domestic Product (GDP) and factory data for January, set for release on Friday. Investors will closely watch the UK GDP figures as the Bank of England (BoE) has expressed concerns over the...
The dollar index rose to around 104 on Friday, marking its third consecutive session of gains, as escalating global trade tensions pressured the euro and other major currencies. On Thursday, President Donald Trump threatened to impose 200% tariffs on all alcoholic products from the European Union, retaliating against the bloc's 50% tariff on American whiskey and other US goods. He also reaffirmed his stance on implementing reciprocal tariffs on global trading partners, set to take effect on April 2. Meanwhile, recent data showed that US inflation figures for February came in below...
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...