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 price climbs amid a soft US Dollar (USD) as the trade war between the United States (US), Canada, Mexico and China escalates with new tariffs taking effect on Tuesday. Therefore, the plunge of the USD underpins the precious metal. The XAU/USD is trading at $2,918, gaining 0.62%. Market sentiment remains downbeat after 25% tariffs on Canada and Mexico and an additional 10% duties in China took effect around midnight. Consequently, traders seeking safety pushed Bullion prices higher on increased demand, while the Greenback dropped across the board.Meanwhile, recently revealed US data...
The US Dollar Index (DXY), which measures the Greenback's value against six major currencies, suffers another leg lower on Tuesday, adding to Monday's losses and losing the key support of 106.00. Investors dumped the US Dollar after the US confirmed new tariffs on Canada, Mexico, and China with no last-minute extensions granted. As Canada and China announced countermeasures, further stoking market volatility.US Dollar tumbles amid tariff battleCanada retaliates with 25% tariffs on US goods worth C$30 billion with more to come in three weeks. In line, China pushes back on US tariffs, adding...
Silver (XAG/USD) prices were trading 0.5% higher around $32.00 during North American trading hours on Tuesday (04/03). The white metal showed strength as the trade war between the United States (US) and other North American countries, as well as China, has escalated. Canada, Mexico, and China have all hinted at retaliatory tariffs on US imports. On Monday, US President Donald Trump confirmed that tariffs of 25% on Canada and Mexico, and 10% on China would go into effect on Tuesday. Earlier in the day, Canadian Prime Minister Justin Trudeau said that Canada would impose "retaliatory tariffs...
Gold futures rose, gaining on market volatility. Futures were up 1.1% at $2,933 a troy ounce. The precious metal is once again approaching its all-time record of $2,974/oz set in late February. Gold has risen as weak manufacturing data has added to concerns about growth, with President Trump's tariff policies set to worsen the slowdown, SP Angel analysts said in a note. Trade tensions continue to escalate between the U.S. and China following the imposition of U.S. tariffs and Chinese retaliatory levies, which is likely to support gold prices, SP Angel said. Speculation is mounting that...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, weakened again on Tuesday (04/03) after US President Donald Trump confirmed that tariffs on Canada, Mexico and China would not be postponed. Markets remained skeptical on Monday whether President Trump would allow an extension before the deadline. However, it is not surprising that the US has imposed tariffs that have been set previously. Meanwhile, Canada and China have rejected unilateral US tariffs. On Monday night, Canadian Prime Minister Justin Trudeau announced retaliatory...
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...