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 pound (GBP) traded subdued against the other major currencies on Wednesday (12/3) as investors looked for fresh cues on next week's Bank of England (BoE) monetary policy meeting. Traders are confident that the BoE will keep interest rates unchanged at 4.5% as a number of officials have been guiding a ‘gradual and cautious' approach to monetary easing. Last week, four BoE policymakers, including Governor Andrew Bailey, guided for a gradual path to "unwinding monetary policy restraint" as persistent inflation is unlikely to fade "on its own". Contrary to them, BoE member Catherine Mann...
Gold (XAU/USD) prices were flat at $2,915 at the time of writing on Wednesday (3/12) ahead of the release of the US Consumer Price Index (CPI) for February. Market consensus is for a slowdown in all inflation measures, both monthly and yearly. However, many analysts and economists have commented that the current US tariff approach will be inflationary for the US, which could be reflected in the numbers. Meanwhile, traders remain cautious about tariffs after Chinese Foreign Minister Wang Yi commented that if the US wants to hit China with its steel and aluminium tariffs. Meanwhile, Europe...
Gold (XAU/USD) prices extended its sideways consolidative price movement near weekly tops during the early European session on Wednesday (3/12) as traders remained on the sidelines ahead of the US consumer inflation figures. The crucial US Consumer Price Index (CPI) will be eyed for fresh cues on the Federal Reserve's (Fed) rate cut path, which in turn, will boost the US Dollar (USD) demand and provide a fresh directional impetus to the non-yielding yellow metal. Some repositioning trade ahead of the key data risk helped the USD gain some positive traction and reverse a part of its...
Oil prices edged higher on Wednesday, boosted by a weaker dollar, but rising concerns about a slowing U.S. economy and the impact of tariffs on global growth capped gains. Brent crude futures were up 13 cents, or 0.2%, at $69.69 a barrel by 0730 GMT, while U.S. West Texas Intermediate crude futures were up 13 cents, or 0.2%, at $66.38 a barrel. Despite the weakening economic outlook, oil prices have held steady in a positive position, said Daniel Hynes, senior commodity strategist at ANZ. "That's a sign that near-term demand for crude oil remains strong," he said. The dollar index (.DXY)...
The dollar struggled on Wednesday to recover from a five-month low against major currencies, as concerns about the U.S. economy eased, given President Donald Trump's unpredictable trade policies. The euro held near a five-month high on growing optimism that the war in Ukraine would end. The Canadian dollar steadied after a volatile session on Tuesday, when Trump vowed to double tariffs on steel and aluminum to 50%, only to reverse course hours later. The Bank of Canada decides policy on Wednesday, with traders expecting another quarter-point rate cut. "Trade uncertainty continues to...
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...