Oil prices rose about 2% on Tuesday to their highest in two weeks as geopolitical tensions between Russia and Ukraine continued, and the U.S. and Iran appeared set to keep sanctions on OPEC+ members Russia and Iran in place for a while longer. Brent crude futures rose $1, or 1.5%, to settle at $65.63 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 89 cents, or 1.4%, to settle at $63.41. "Risk premiums have increased this week as the prospect of a Russia/Ukraine ceasefire and Iran nuclear deal now appear to have been put on hold for weeks or even months," analysts at energy...
EUR/USD fell after hitting a six-week peak of 1.1454 on Tuesday (03/06) amid growing market concerns about a trade war triggered by the United States (US). The appreciation of the greenback weighed on the currency pair, which was trading at 1.1379, down 0.52%. Wall Street remained in the green zone on news that US President Donald Trump will reportedly speak with Chinese President Xi Jinping this week, according to Reuters sources. Data from the United States lifted the US Dollar (USD), which has been battered and lost almost 2% this week, according to the US Dollar Index (DXY). The US Job...
Gold edges higher in the early Asian session amid geopolitical tensions that typically enhance its safe-haven appeal. Ukraine on Tuesday attacked the Kerch Bridge, which connects occupied Crimea with Russia. "Geopolitical tensions add to the appetite for gold and could support a return to the upside," DHF Capital's Bas Kooijman says. Also, worries over fiscal imbalances and expectations for Fed rate cuts later this year should continue to lend support to the precious metal, the CEO and asset manager adds. Spot gold is 0.2% higher at $3,358.83/oz. Source: Bloomberg