Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Gold prices edged higher on Friday (September 5th) and were on track for their best weekly gain in three months, as expectations of a Federal Reserve interest rate cut boosted bullion's appeal and investors awaited US non-farm payrolls data due later today. Spot gold rose 0.1% to $3,548.49 an ounce, as of 09:34 GMT. Bullion has gained 3% so far this week. US gold futures for December delivery were steady at $3,605.10. US jobless claims rose more than expected last week, while the ADP National Employment Report showed private payrolls grew less than expected in August, both further signs of...
Silver climbed to around $41.8 per ounce on Friday, holding near its strongest levels since 2011 as signs of a cooling US labor market reinforced expectations for a Federal Reserve rate cut. The latest ADP report showed private payrolls rose just 54K in August, well below forecasts, while jobless claims reached their highest since June, pointing to further weakness. Investors now await the August jobs report due later today, expected to cement bets on a near-term Fed move. Markets are pricing in nearly 100% odds of a 25 basis point cut on September 17.Safe-haven demand also underpinned...
Gold rose to around $3,550 per ounce on Friday, near record levels and on track for a weekly gain of over 3%, supported by expectations of lower US interest rates and safe-haven demand. A drop in job openings, higher-than-expected layoffs, and initial jobless claims reaching a two-month high have led markets to largely price in a September rate cut.Traders are now betting on up to three cuts this year, which would benefit gold, as lower interest rates reduce the opportunity cost of holding non-yielding assets. Investors are now awaiting the US nonfarm payrolls report for a broader view of...
Oil prices drifted down in early trading on Friday for the third straight day as investors awaited an OPEC+ meeting this weekend that will consider further output hikes.Brent crude futures fell 23 cents, or 0.3%, to $66.77 a barrel at 0012 GMT, while U.S. West Texas Intermediate crude fell 19 cents, or 0.3%, to $63.29.Eight members of the Organization of the Petroleum Exporting Countries and allies like Russia in OPEC+ will consider further raising production in October at a meeting on Sunday, two sources familiar with the discussions told Reuters. Another boost would mean that OPEC+, which...
EUR/USD trades marginally lower on the day at around 1.1650 on Thursday. The data from the US showed that private sector payrolls rose 54,000 in August, missing the market expectation of 65,000 and helping the pair hold its ground. US ISM Services PMI data is coming up next. The EUR/USD spent the first half of the day confined to a tight intraday range, stuck around the 1.1650 area. The US Dollar (USD) pushed marginally higher against most major rivals amid continued caution among market participants ahead of United States (US) macro releases. Meanwhile, the Euro (EU) had no reason to...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...