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...
Oil prices edged slightly higher on Tuesday, helped by weakness in the dollar but capped by mounting concerns over a U.S. slowdown and the impact of tariffs on global economic growth. Brent crude futures settled 28 cents, or 0.4%, higher at $69.56 a barrel after falling as low as $68.63 in early trade. U.S. West Texas Intermediate crude futures gained 22 cents, or 0.3%, to $66.25 a barrel after previous declines as well. Both benchmarks closed 1.5% lower in the previous session. Stocks, which crude prices often follow, were flirting with a correction after slumping on Monday when the...
The US Dollar (DXY) continues its downward spiral on Tuesday, with DXY hovering near 103.40 as trade tensions escalate. United States (US) President Donald Trump's decision to hike tariffs on Canadian steel and aluminum to 50% rattled markets, adding further pressure on the Greenback. Meanwhile, in Europe, Germany's Green coalition voiced support for a defense spending bill, providing an additional boost to the Euro (EUR). US equities erased earlier gains, with the Dow Jones down over 1%, reflecting broader market concerns.Trade dispute and policy shiftsThe US-Canada trade rift intensified...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against a basket of six major currencies, hit a low not seen since October 2024. The index was trading above 103.50 at the time of writing on Tuesday. The greenback faced headwinds on early European comments from Germany's Green coalition, who were said to be back on track to reach a deal on a German defense spending bill. This pushed the US Dollar (USD) lower and supported the Euro (EUR). On the economic data front, the US JOLTS Job Openings report for January will be the main focus. Traders are already gripped by recession fears,...
Oil prices rose 1% on Tuesday, helped by a weaker U.S. dollar, although gains were capped by growing concerns about a U.S. slowdown and the impact of trade tariffs on global economic growth. Brent crude futures were up 73 cents, or 1.05%, at $70.01 a barrel by 1116 GMT after falling in early trading. U.S. West Texas Intermediate crude futures were up 66 cents, or 1%, at $66.69 a barrel after also falling earlier. Both benchmarks closed 1.5% lower in the previous session. The dollar index (.DXY), opens new tab , hit a four-month low, making oil cheaper for overseas buyers. Investors are...
Gold prices rose on Tuesday, supported by safe-haven inflows as trade war concerns dampened risk sentiment in broader markets, while attention was on US inflation data. Spot gold rose 0.8% to $2,912.88 an ounce by 1031 GMT after hitting its lowest since March 3 in the previous session. US gold futures rose 0.6% to $2,917.90. The dollar index (.DXY), opens a new tab, hit a four-month low, making bullion cheaper for overseas buyers. US President Donald Trump's volatile trade policies — imposing and delaying tariffs on Canada and Mexico, while raising duties on Chinese goods — have rattled...
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...