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 US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, is trading softer near 108.30 as investors react to mixed economic data and fresh tariff concerns. Market participants are also turning their focus to Federal Reserve (Fed) Chair Jerome Powell's upcoming testimony before Congress for guidance on future interest rate policy. The US Dollar Index remains under pressure, struggling to hold above 108.00 as sellers continue to dominate. The Relative Strength Index (RSI) remains below 50, indicating growing bearish momentum, while the DXY holds...
Crude oil futures rose after three straight weeks of declines as the market shrugged off President Trump's announcement of tariffs on steel and aluminum imports to the U.S., while the dispute between Israel and Hamas over their cease-fire agreement revived some of the geopolitical risk premium that had recently been lost from the market. Israel's statement that Hamas violated the cease-fire by delaying the next planned hostage release added to the rally, said Robert Yawger of Mizuho. He noted that the rally came amid a build in U.S. crude stockpiles as refineries slowed for maintenance,...
President Trump's threats to impose or raise tariffs on trading partners around the world have sent traders into gold futures — with the front-month contract closing up 1.6% at $2,914.30 an ounce. That was a new record for front-month gold, breaking through the $2,900 barrier for the first time. Trump's latest threat, a 25% tariff on steel and aluminum shipped to the U.S., appears to have had a major impact on Canada and Mexico, with Canada selling about 60% of its aluminum imports to the U.S. But the market is uncertain whether that will be the case. "Recent events have taught us all to...
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, is not showing any reaction to the vast amount of headlines around tariffs that were published over the weekend. United States (US) President Donald Trump announced 25% steel and aluminum tariffs for all countries importing into the US. Also, plans for reciprocal tariffs are on the table, which would increase US import duties to match those imposed by the country's other trading partners. Meanwhile Gold, the precious metal, is printing fresh all-time highs almost every hour while trading...
Oil prices rose Monday, bouncing after three consecutive weekly declines despite US President Donald Trump's new tariff announcement on all steel and aluminum imports. At 08:10 ET (13:10 GMT), Brent Oil Futures rose 1.4% to $75.69 a barrel, while Crude Oil WTI Futures expiring in March gained 1.5% to $72.05 a barrel. Both contracts lost nearly 2% last week after a sharp jump in US crude stockpiles, fears about a global trade war, and Donald Trump's pledge to boost production. Trump signals levies on steel and aluminum imports The imposition of a 10% tariff on Chinese imports by the US...
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...