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...
Oil prices plunged more than 1% on Wednesday as rising US inventories and concerns about a renewed Sino-US trade war stoked fears of weaker economic growth, offsetting a renewed push by US President Donald Trump to eliminate Iranian crude exports. Brent crude futures fell 92 cents, or 1.21%, to $75.28 a barrel by 1210 GMT. US West Texas Intermediate (WTI) crude futures fell 86 cents, or 1.18%, to $71.84. Crude prices traded in a wide range on Tuesday, with WTI falling at one point as much as 3% to its lowest since December 31 after China announced tariffs on US oil, liquefied natural gas...
The US dollar weakened against most major currencies as traders continued to assess the risk of an imminent trade war. The Bloomberg Dollar Spot Index fell 0.4% to its lowest in more than a week, with the greenback continuing to weaken from its strongest level in more than two years hit on Monday. Traders recalibrated their outlook for the world's reserve currency after US President Donald Trump delayed the imposition of levies on Mexico and Canada. That returned the focus to market fundamentals, with weaker US jobs data on Tuesday leading to increased bets on interest rate cuts. "The...
The pound (GBP) strengthened near 1.2500 against the US dollar in the European session on Wednesday (5/2). The GBP/USD pair strengthened as the US dollar gave up its initial weekly gains due to the loss of risk premium after US President Donald Trump suspended tariffs on Canada and Mexico. Market participants have interpreted this scenario as a negotiating tactic by President Trump to close a better deal with its major trading partners. Trump called for an immediate suspension of the 25% tariff order on his North American counterparts after they agreed to cooperate on criminal law...
The AUD/USD pair surged near the key 0.6300 level in the European session on Wednesday (February 5). The Australian currency pair strengthened as investors' risk appetite improved amid expectations that the trade war would not be global and would be confined to the United States (US) and China. S&P 500 futures fell slightly during European trading hours but have recovered their losses significantly. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, fell sharply to near 107.50, its lowest level in more than a week. Market participants are...
EUR/USD strengthened above 1.0400 in the European session on Wednesday (5/2). The major currency pair strengthened as the US Dollar (USD) extended its decline for the third trading day. The US Dollar Index (DXY), which tracks the Greenback against six major currencies, fell near 107.50 as it lost some risk premium, with investors assuming that the scope of the trade war will not widen. Market participants expect the trade war to be mainly between the United States (US) and China because China has retaliated with 10% tariffs on various US exports, including farm equipment, some cars, and...
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...