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...
Silver (XAG/USD) oscillates in a narrow band during the Asian session on Friday and currently trades above mid-$32.00s, near its highest level in over a week touched the previous day. Moreover, the near-term bias seems tilted in favor of bullish traders and supports prospects for an extension of the weekly uptrend. The recent bounce from sub-$31.00 levels, nearing the 100-day Exponential Moving Average (EMA), and the fact that oscillators on the daily chart have just started gaining positive traction validate the constructive outlook for the XAG/USD. Hence, some follow-through strength...
The Japanese Yen (JPY) retains its positive bias for the third straight day against a broadly weaker US Dollar (USD) and keeps the USD/JPY pair close to its lowest level since early October during the Asian session on Friday. The growing acceptance that the Bank of Japan (BoJ) will continue to raise interest rates has been exerting upward pressure on Japanese government bond (JGB) yields. The resultant narrowing of the rate differential between Japan and other countries continues to act as a tailwind for the lower-yielding JPY. Moreover, the uncertainty surrounding US President Donald...
Gold traded around $2,900 per ounce on Friday, heading for a weekly gain, supported by its safe-haven appeal amid shifting global trade policies. While President Donald Trump paused the 25% tariffs imposed this week on most goods from Canada and Mexico, Canada's initial retaliatory tariffs remain, and China's measures take effect next week. Meanwhile, US jobs data painted a mixed picture, with the Challenger report showing layoffs surged to a 2020 high, while jobless claims dropped more than expected last week. These reports precede today's non-farm payrolls release, which could offer a...
Hong Kong stocks fell by 51 points or 0.2% to 24,324 in early trading on Friday, breaking a three-day winning streak amid losses mainly from financials. Markets pulled back from their highest in over three years following an overnight slump on Wall Street, due to uncertainty over US trade policy. This was particularly driven by President Donald Trump's decision to delay levies on Mexican and Canadian goods covered by the North American trade agreement. Also, caution grew ahead of key data from China, including January-February trade data later today, alongside CPI and PPI readings over the...
The dollar index stabilized above 104 on Friday as investors looked ahead to the highly anticipated monthly jobs report for further insights into the economy's health. The dollar also found support after President Donald Trump temporarily exempted certain Canadian and Mexican goods from the 25% tariffs imposed earlier in the week, raising hopes for additional concessions. However, the index remains on track to lose more than 3% for the week, as the escalating trade war stoked concerns about the potential negative impact on the US economy, particularly given the heavy reliance of many US...
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...