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...
Gold edged lower as investors study the latest developments around tariffs and their impact on the US economy and Federal Reserve decisions. The precious metal was trading near $2,915 an ounce, about $40 short of the all-time high reached last week. Silver has also seen strong haven demand, and this week has gained nearly 5%. There was more movement on the tariff front on Wednesday, with President Donald Trump delaying newly imposed automaker levies on Mexico and Canada by a month. The move saw yields on Treasuries shift toward the lowest level of the year amid mounting investor conviction...
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, was trading around 104.00 during European hours on Thursday (06/03). The DXY extended its decline for the fourth straight day amid improving risk sentiment, boosted by another shift in US President Donald Trump's tariff strategy. On Wednesday, the White House announced a temporary one-month exemption for automakers in Mexico and Canada from newly imposed 25% import tariffs. Additionally, Trump is considering exempting certain agricultural products from tariffs in both countries, according...
Oil prices rose on Thursday after heavy sell-offs drove the market to a multi-year low, however tariff uncertainties and a rising supply outlook capped gains. Brent futures were trading up 50 cents, or 0.72%, at $69.80 a barrel by 0716 GMT, while U.S. West Texas Intermediate crude (WTI) futures climbed 48 cents, or 0.72%, to $66.79 a barrel. Brent plunged 6.5% in the previous four sessions, dropping to its lowest since December 2021 on Wednesday, while WTI fell 5.8% over the same period to its lowest since May 2023. "The sharp dip in oil prices below the key $70.00 level may prompt a...
Gold prices edged higher in Asian trading on Thursday as the U.S. dollar fell to a four-month low amid signs that President Donald Trump may be open to negotiating his recently imposed steep trade tariffs. Spot Gold inched 0.1% higher to $2,921.42 per ounce, while Gold Futures expiring in April gained 0.1% to $2,929.49 an ounce by 01:15 ET (06:15 GMT). Dollar falters on Trump auto tariff delay; US payrolls data awaited Gold prices advanced as the US Dollar Index weakened 0.2% to a four-month low following President Donald Trump's decision to delay imposing auto tariffs on Canada and...
The USD/CHF pair builds on the previous day's modest bounce from the vicinity of mid-0.8800s, or the lowest since December 12, and gains some follow-through positive traction for the second straight day on Thursday. Spot prices climb back above the 0.8900 mark during the Asian session, though any meaningful appreciating move seems elusive amid the bearish sentiment surrounding the US Dollar (USD). The USD Index (DXY), which tracks the Greenback against a basket of currencies, dives to a four-month low amid bets that the Federal Reserve (Fed) would cut interest rates multiple times this...
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...