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 held its recent decline to around $31.7 per ounce in late February amid demand uncertainties and robust supply. Profit-taking also weighed on silver prices, although the metal remains up about 10% year-to-date. Hecla Mining Company, the largest silver producer in the US, reported a 13% increase in silver output for 2024, mining 16.2 million ounces moz, the second-highest production level in its 134-year history. On the demand side, US silver coin purchases dropped 27% year-on-year in January to 3.5 moz, the lowest January demand since 2018. Meanwhile, softening US economic data fueled...
Oil prices climbed for the first time in three days on Thursday, with supply worries resurfacing after U.S. President Donald Trump announced a reversal of a license given to Chevron (CVX.N), opens new tab to operate in Venezuela. Brent crude oil futures rose 24 cents or 0.33% to $72.77 a barrel by 0328 GMT. U.S. West Texas Intermediate crude oil futures were up 18 cents or 0.26% at $68.80 per barrel. A day earlier, the contracts settled at their lowest since December 10 due to a surprise build in U.S. fuel inventories that hinted at weakening demand and hopes for a potential peace deal...
Gold prices fell in Asian trade on Thursday, pulling back further from record highs on pressure from a stronger dollar, as U.S. President Donald Trump kept up his threats of increased trade tariffs. The yellow metal was hit with a wave of profit-taking from record highs this week, even as the prospect of higher trade tariffs and a cooling U.S. economy kept safe haven demand in play. Gold prices struggled to cross the $3,000 an ounce level. Reports that a U.S.-brokered peace deal between Russia and Ukraine was close undermined some safe haven demand for gold. Broader metal prices were also...
The US Dollar Index (DXY) gains traction to near 106.65 during the early European session on Thursday. The cautious mood amid the tariff uncertainty from US President Donald Trump could lift the Greenback. However, the weaker US economic data have prompted traders to raise bets for interest rate cuts, now seeing two quarter-point reductions this year, with the first likely in July and the next as early as October. This, in turn, might cap the upside for the DXY. According to the 4-hour chart, the DXY keeps the bearish vibe as the price remains capped below the key 100-period EMA...
GBP/USD depreciates after two consecutive sessions of gains, trading around 1.2660 during Asian hours on Thursday. The pair loses ground as the US Dollar (USD) strengthens amid increased risk aversion and rising US Treasury yields. Federal Reserve Bank of Atlanta President Raphael Bostic stated late Wednesday that the Fed should maintain current interest rates to continue applying downward pressure on inflation, according to Bloomberg. Bostic noted the need for more data to determine if January's inflation was a temporary bump or the start of a trend. He emphasized that Fed policy remains...
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...