WTI crude oil futures rose to around $70.3 per barrel on Monday, buoyed by strong manufacturing data from China, the world's largest crude importer, as well as lingering U.S.-Ukraine tensions that could sustain supply disruptions. Data released on Saturday showed that China's manufacturing activity rose to a three-month high in February, fueling optimism about increased fuel demand. Additionally, the recent clash between Ukrainian President Volodymyr Zelenskyy and U.S. President Donald Trump added uncertainty on the prospects of a Russia-Ukraine peace deal. This raises the likelihood that...
The EUR/USD pair attracts fresh buyers at the start of a new week and for now, seems to have snapped a three-day losing streak to over a two-week low, around the 1.0360 area touched on Friday. The momentum lifts spot prices further beyond the 1.0400 mark during the Asian session and is sponsored by a weaker US Dollar (USD). From a technical perspective, the EUR/USD pair showed some resilience below the 50% Fibonacci retracement level of the rally witnessed in February. The subsequent move above the 38.2% Fibo. level suggests that the pullback from the 1.0525-1.0530 area, or a one-month...
Silver price (XAG/USD) rebounds after two consecutive days of losses, trading around $31.30 per troy ounce during Asian market hours on Monday. The precious metal benefits from safe-haven demand amid concerns over US President Donald Trump's tariff policies. Over the weekend, Trump announced an additional 10% tariff on Chinese imports, effective Tuesday, following a similar 10% tariff imposed last month. Additionally, on Thursday, he stated via Truth Social that 25% tariffs on Canadian and Mexican goods will take effect on March 4. In response, China is considering countermeasures,...