Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S. West Texas Intermediate crude finished at $62.69, a gain of 32 cents, or 0.51%. Early in the day, crude reacted to the drone attack on Russia's northwestern port of Primorsk, which led to a suspension of oil loading operations overnight, an official from Ukraine's SBU security service said. "Those attacks on Russian energy infrastructure have room...
Gold rose to around $2,940 per ounce on Thursday, approaching record levels, as escalating global trade tensions continued to fuel safe-haven demand. On Wednesday, President Donald Trump warned of additional tariffs on EU goods after the EU and Canada retaliated against existing US trade barriers. Commerce Secretary Howard Lutnick also said that Trump would impose trade protections on copper as well. Meanwhile, both headline and core US inflation came in below expectations, reassuring investors about disinflation progress and giving the Federal Reserve more flexibility for a less...
The Australian Dollar (AUD) continues to strengthen against the US Dollar (USD) for the third consecutive session, despite weaker Consumer Inflation Expectations data released on Thursday. Consumer expectations of future inflation during the next 12 months fell to 3.6% in March, down from 4.6% in February—the highest level since April 2024. The AUD/USD pair rises as the US Dollar faces headwinds amid ongoing tariff uncertainty from US President Donald Trump and growing concerns over a potential US recession. However, the pair's gains may be capped after Trump ruled out exempting Australia...
Gold edges higher in the early Asian session. EU and Canada unveiled retaliatory tariffs against the U.S. on Wednesday, further increasing prospects of a global trade war after the U.S. imposed levies on global steel and aluminum imports. Such prospects could enhance the safe-haven appeal of the precious metal. There's uncertainty over the impact of tariffs on the U.S. economy amid talk of a recession, XS.com's Samer Hasn says in an email. Market turmoil has also deepened due to President Trump's repeated "start-and-stop" over tariffs, Hasn adds. Spot gold is 0.1% higher at...
Oil steadied, after the biggest gain in two weeks, as easing US inflation aided broader financial market sentiment. West Texas Intermediate traded below $68 a barrel after jumping 2.2% on Wednesday, with Brent crude closing near $71. US consumer prices rose at the slowest pace in four months in February, official data showed, although economists anticipate that an escalating trade war will drive up prices on goods like food and clothing in the coming months. Crude has tumbled from a high in mid-January, with some of the biggest oil traders getting...
The AUD/USD pair added to Tuesday's uptick and trespassed the 0.6300 hurdle despite a decent rebound in the Greenback. The pair extended gains on Wednesday, supported by softening United States (US) inflation data, which bolstered expectations that the Federal Reserve (Fed) may adjust interest rates sooner than previously anticipated. While the US Dollar (USD) attempted a recovery, risk sentiment remained favorable for the Australian Dollar (AUD), opening the door for a potential test of the monthly highs near 0.6360.Australian Dollar extends gains as US CPI weakensThe US Consumer Price...
Gold price rises late in the North American session, unfazed by high US Treasury bond yields and a stronger US Dollar on Wednesday. At the time of writing, XAU/USD trades with gains of 0.63% and changes hands at $2,933 after a US inflation report that was softer than projected. The US Bureau of Labor Statistics (BLS) revealed that consumer inflation in the United States (US) edged lower in February. Nevertheless, investors remain skeptical of the improvement as aggressive tariffs on US imports could trigger a second round of inflation.February's data increased the odds that the Federal...
The US Dollar steadies on Wednesday, with DXY hovering around 103.50 as traders digest the latest Consumer Price Index (CPI) data. The February inflation report showed both headline and core figures cooling faster than anticipated, reinforcing expectations of softer price pressures ahead of recently imposed United States (US) tariffs. US President Donald Trump was also on the wires, and markets are assessing his words.The latest CPI report showed inflation decelerating in February, with both monthly and yearly figures coming in below expectations.Monthly headline inflation registered at...
Oil prices jumped on Wednesday, extending earlier gains that were powered by a weaker U.S. dollar, although persistent concerns over the impact of tariffs on global demand limited the uptick. By 11:00 ET (15:00 GMT), Brent futures had gained 1.8% to $70.83 per barrel, while U.S. West Texas Intermediate crude futures had climbed by 2.1% to $67.65 a barrel. The greenback hovered around a five-month low against several major currency pairs, with investors pouring through trade tensions and a possible Russia-Ukraine ceasefire deal. A weakening in the dollar can provide a lift for oil prices...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....