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) weakened against the US Dollar (USD) on Tuesday as downward pressure mounted on the AUD/USD pair. The decline followed US President Donald Trump's decision to expand steel and aluminum tariffs by 25% to include all imports, nullifying trade agreements with key US allies, including Australia. The White House confirmed that all import tax exclusions had been removed and indicated that further action on microchips and vehicles would be considered in the coming weeks.Australia's Westpac Consumer Confidence increased by 0.1% in February, reaching 92.2 from 92.1 in...
Oil prices were steady on Tuesday as traders digested another round of trade tariffs, this time a 25% levy on all U.S. imports of steel and aluminium, which could weigh on global economic and energy demand in the world's biggest oil consumer. Brent crude futures were up 11 cents, or 0.14%, at $75.98 a barrel by 0128 GMT, while U.S. West Texas Intermediate crude rose 5 cents or 0.07% to $72.37. President Donald Trump substantially raised tariffs on steel and aluminium imports to the U.S. on Tuesday to a flat 25% "without exceptions or exemptions" to aid the struggling industries that could...
Gold is higher in the early Asian session, aided by prospects of demand for the precious metal as a hedge against inflation. U.S. President Trump on Monday announced global 25% tariffs on imports of steel and aluminum to the U.S. Key commodities including gold have absorbed the latest round of inflation-inducing measures of the Trump administration, says Matt Simpson, market analyst at FOREX.com and City Index. Gold's daily chart shows a strong bullish trend which appears averse to any meaningful pullback greater than a day, Simpson adds. Spot gold is 0.3% higher at $2,916.41/oz. Source :...
Gold hit a record high after President Donald Trump imposed 25% tariffs on all U.S. steel and aluminum imports, adding to uncertainty across global markets that has boosted demand for precious assets. Bullion hit an all-time peak above $2,921 an ounce — after jumping 1.7% in the previous session. Trump said Monday that the levies, which take effect March 4, will help boost domestic production and bring more jobs to the U.S., and warned that tariffs "may go higher." The precious metal has surged 11% this year, hitting a series of records, as Trump's disruptive moves on trade and geopolitics...
Oil steadied after its biggest gain in nearly four weeks as tighter Russian crude supplies overshadowed concerns about the impact of President Donald Trump's expanded tariffs. West Texas Intermediate traded above $72 a barrel after rising nearly 2% on Monday, while Brent settled below $76. Russian data showed production last month fell further below the country's OPEC+ quota. Soaring European natural gas prices have also made burning oil more cost-effective, potentially boosting demand for crude. President Trump ordered 25% tariffs on steel and aluminum imports in a sign of a growing trade...
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...