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...
The Australian Dollar (AUD) retreats against the US Dollar (USD) on Tuesday, giving up recent gains. The AUD/USD pair remains under pressure following the release of the Reserve Bank of Australia (RBA) Meeting Minutes and Retail Sales data. The RBA's February Meeting Minutes highlighted downside risks to the economy. While the Board acknowledged the labor market's strength as a key reason to maintain rates, it noted that the current tightness was inconsistent with a 2.5% inflation target. Ultimately, the Board saw a stronger case for cutting rates. Australia's Retail Sales, a key...
WTI crude oil futures fell toward $68 per barrel on Tuesday, hovering near a three-month low after OPEC+ signaled plans to revive halted production amid pressure from U.S. President Donald Trump to lower prices. OPEC and its allies said it will proceed with unwinding 2.2 million barrels per day in output cuts starting April 1, following repeated delays. Crude prices also retreated amid concerns that U.S. tariffs could hurt global growth and reduce energy demand. Trump confirmed on Monday that 25% tariffs on goods from Mexico and Canada will take effect later today, alongside a second round...
Gold is steady in the early Asian trade, hovering around the $2,890/oz level after a recent rally. Investors are digesting the latest U.S. manufacturing data, which showed a slowing pace of expansion, and weighing the economic outlook as Trump's tariffs against key trading partners are due to kick in today, the ANZ Research team writes in a note. "Market participants have little risk-on appetite" given the ongoing geopolitical tensions, analysts at Sucden Financial write in a note. Spot gold is flat at $2,890.68/oz. Source : Dow Jones Newswires
GBP/USD rose on Monday, buoyed by a broadly-underbid US Dollar and a latent recovery in Pound Sterling flows. The pair is knocking back into the 1.2700 handle, with price action continuing to get mired in the 200-day Exponential Moving Average (EMA). US President Donald Trump reiterated his threats to impose a 25% tariff package on Canada and Mexico on Monday, which are set to automatically go into effect at midnight EST Tuesday morning. Markets have gotten used to President Trump kicking the can on his own policy threats since taking office in January, but this time may turn out to be...
Gold price is rallying over 1% on Monday, snapping two days of losses as the Greenback gets battered due to safe-haven demand and falling United States (US) Treasury bond yields. Geopolitical tensions and tariff threats by US President Donald Trump increased demand for the safety appeal of Bullion. XAU/USD trades at $2,888 at the time of writing.Risk appetite deteriorated following the clash between US President Donald Trump and Ukrainian President Volodymir Zelenskyy last Friday. In the meantime, tariffs imposed on Mexico, Canada and China are expected to kick in on Tuesday. Data-wise,...
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...