Oil prices slipped at market open on Tuesday (14/1) but remained near four-month highs as Chinese and Indian buyers sought new suppliers in the wake of the Biden administration's toughest sanctions yet on Russian oil. Brent futures slipped 22 cents, or 0.27%, to $80.79 a barrel by 0122 GMT, while U.S. West Texas Intermediate (WTI) crude fell 16 cents, or 0.2% to $78.66 a barrel. That followed roughly 2% gains in Monday trading, after the U.S. Treasury Department on Friday imposed sanctions on Gazprom Neft and Surgutneftegas as well as 183 vessels that trade oil as part of Russia's...
Gold (XAU/USD) prices maintained their positive bias through the early European session on Tuesday, albeit lacked bullish conviction and remained below one-month highs touched the previous day. Reports that US President-elect Donald Trump's top economic adviser is considering a gradual tariff hike to prevent a sudden spike in inflation triggered a modest pullback in the US Treasury bond yields. This, in turn, kept the US Dollar (USD) pressured below two-year highs touched on Monday and provided some support to the commodity. Meanwhile, easing concerns about disruptive trade tariffs under...
The Australian Dollar (AUD) continued its gains against the US Dollar (USD) for the second straight day on Tuesday, rising from 0.6131, its lowest level since April 2020. The AUD/USD pair strengthened as the AUD benefited from strong commodity prices. US President-elect Donald Trump's economic team believes that gradually increasing import tariffs is boosting investor confidence, supporting risk-sensitive currencies such as the AUD and contributing to the appreciation of the AUD/JPY pair. Source: FXStreet