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 prices held steady above $32 an ounce on Monday (2/17) after experiencing wild swings in the previous session. The metal found support from a weaker dollar, boosted by weak US economic data and easing concerns over a global trade war. Investors are also keeping an eye on US-led efforts to resolve the war in Ukraine, which could dampen demand for safe-haven assets such as silver. However, silver hit a three-month high on Friday as strong industrial demand, especially from the electrification and manufacturing sectors, supported prices. Recent data showed that China is adding 357...
GBP/USD traded for its fifth straight easy gain on Monday (2/17), rising almost a third of a percent and re-passing the 1.2600 mark. Currency market flows were limited to start the new trading week with US markets quiet due to the Presidents Day holiday. UK Average Earnings for the three months to December are expected to rise on a yearly basis on Tuesday. The headline figure for bonuses and allowances taken into account is expected to come in at 5.9%, compared to the previous reading of 5.6%. The UK Claimant Count Change for January is also projected to rise to 10,000 net new jobless...
Oil prices rose on Monday as attacks on Caspian Sea oil pumping stations slowed oil flows from Kazakhstan, while investors monitored developments on a possible Moscow-Kiev cease-fire agreement that could ease sanctions and boost global supplies. The dollar index, which hovered near a two-month low after weaker-than-expected U.S. retail data for January, also boosted oil prices by making crude cheaper for non-U.S. buyers. Brent crude futures settled at $75.22 a barrel, up 48 cents. U.S. West Texas Intermediate crude was up 65 cents at $71.39 a barrel at 2:33 p.m. EST, and did not close at...
Gold prices rose on Monday (17/) during the North American session, posting a gain of 0.56% amid thin trading as markets in the United States (US) were closed for Presidents Day. XAU/USD was trading at $2,898 after hitting an intraday low of $2,878. Gold posted its biggest loss since December 18 last Friday, but the outlook for the precious metal looks promising amid geopolitical uncertainty and US trade policy aimed at narrowing the deficit. Data from the US was mixed last week with the Consumer Price Index (CPI) and Producer Price Index (PPI) rising slightly. Retail Sales disappointed...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, consolidates last week's losses and trades flat at around 106.80 at the time of writing on Monday. The United States (US) economy is no longer an outlier, with several data points and the blood-red January Retail Sales data released last week pointing to slower economic growth. All eyes this week will be on Riyadh, in Saudi Arabia, where US and Russian officials are set to meet ahead of a meeting between US President Donald Trump and Russian President Vladimir Putin. The economic...
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...