Brent crude oil prices fell more than $1 a barrel on Monday as economic concerns over the U.S.-China trade war weighed on demand. Brent crude futures settled at $65.86 a barrel, down $1.01, or 1.51%. U.S. West Texas Intermediate crude futures settled at $62.05 a barrel, down 97 cents, or 1.545%. Brent crude prices edged up in the previous two sessions, but ended Friday with a weekly loss of more than 1%. The U.S.-China trade war is dominating investor sentiment in driving oil prices, said analyst John Evans of brokerage PVM, overtaking nuclear talks between the U.S. and Iran and...
The US Dollar (USD) weakened slightly on Monday (4/28) as markets kicked off a busy week, overshadowed by skepticism surrounding US trade policy. While US officials hinted at ongoing talks with Asian partners and "daily conversations" with China, Beijing reiterated that it was not engaged in negotiations, stressing the lack of winners in the tariff war. Against this backdrop, the US Dollar Index (DXY) traded slightly lower, around 99.33 at the time of writing. Optimism that US trade policy could eventually ease global tariffs is increasingly being viewed as misplaced. Analysts at Standard...
The USD/JPY pair faced heavy selling pressure, dropping to the 142.00 zone during North American trading hours on Monday (4/28). Investor caution has returned as broader trade optimism has eroded, boosting demand for the safe-haven Japanese yen. A temporary recovery in risk sentiment last week had pushed USD/JPY back to 144.00, but the start of the week has seen renewed yen strength ahead of key domestic and US events. Japanese markets remain closed on Monday for Showa Day, but attention is on the upcoming BoJ meeting where policymakers are expected to keep interest rates at 0.50%. However,...