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...
EUR/USD trades firmly around the fresh four-month high of 1.0850 in Friday's North American session after the release of the softer-than-expected United States (US) Nonfarm Payrolls (NFP) data for February. The US NFP report showed that the economy added 151K fresh workers, slightly lower than estimates of 160K. However, the pace of labor demand remained higher than what investors saw in January. In the previous month, 125K fresh workers were added, downwardly revised from 143KThe Unemployment Rate accelerated to 4.1%, from estimates and the former release of 4%. Meanwhile, Average Hourly...
The dollar index remained near a four-month low of 103.7 on Friday, marking its fifth straight session of declines, the longest losing streak in nearly a year. Traders were analyzing the payrolls report, which showed that the labor market showed few signs of weakness. The U.S. economy added 151,000 payrolls, slightly lower than the 160,000 expected, the unemployment rate unexpectedly edged up to 4.1% and wage growth eased to 0.3%, as expected. Meanwhile, federal government employment declined by 10,000, but the full impact of the DOGE layoffs has yet to materialize. Additionally, ongoing...
Gold prices edged up on Friday, poised for a weekly gain on safe-haven inflows and a U.S. jobs report that showed weaker-than-expected job growth in February, suggesting the Federal Reserve will cut interest rates this year. Spot gold was up 0.3% at $2,918.11 an ounce by 9:24 a.m. (1424 GMT). Bullion has gained more than 2% so far this week, as U.S. President Donald Trump's ever-changing tariff policies fueled uncertainty. U.S. gold futures were steady at $2,925. The U.S. dollar index was on track for its worst weekly performance since Nov. 4, making dollar-priced bullion cheaper for...
Oil rose on Friday but remained on track for its biggest weekly decline since late last year as U.S. President Donald Trump's tariffs on major trading partners injected volatility and uncertainty into global markets. Brent crude futures rose near $70 a barrel on Friday, helped by a falling dollar and potential U.S. plans to replenish its strategic oil reserves, but are still down more than 3% this week. Trump signed an order Thursday to cut tariffs on Mexico and Canada covered by the trade pact through April 2, just days after the tariffs went into effect. (Newsmaker23) Source: Bloomberg
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, had its worst week in more than a year, down more than 3.5% since Monday and trading near 103.70 at the time of writing on Friday (07/3). The greenback is undergoing a regime change where the US Dollar is no longer favored by traders. The interest rate differential between the Federal Reserve (Fed) and other central banks is set to narrow after Fed Governor Christopher Waller said on Thursday that there could be two to three rate cuts this year. On the economic data front, all eyes...
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...