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...
The Australian Dollar (AUD) is under pressure against the US Dollar (USD) on Thursday, with AUD/USD down almost 0.50%, trading near 0.6510 at the time of writing. The pullback reflects broad Greenback resilience as markets digest a mixed batch of US labor data and stronger services activity, though the pair is holding firm above the 0.6500 psychological level. The US Dollar is regaining ground, with the DXY index hovering near 98.40, underpinned by cautious positioning ahead of Friday's Nonfarm Payrolls (NFP). Labor signals this week have pointed to softer hiring and rising layoffs, while...
Oil prices eased about 1% to a two-week low on Thursday on a surprise build in U.S. crude inventories last week and expectations that OPEC+ producers will increase output targets at a meeting this weekend. Brent crude futures fell 67 cents, or 1.0%, to $66.93 a barrel at 12:05 p.m. EDT (1603 GMT), while U.S. West Texas Intermediate (WTI) crude fell 59 cents, or 0.9%, to $63.38. That put Brent on track for its lowest close since August 20. The U.S. Energy Information Administration said energy firms added 2.4 million barrels of crude into storage during the week ended August 29. [EIA/S]...
Gold price edges lower during the North American session on Thursday as the Greenback recovers some ground, even though the latest round of economic data increased speculation that the Federal Reserve may cut interest rates at the September meeting. The XAU/USD trades at $3,542, down 0.48%. Bullion eases 0.48% despite weak US jobs data fueling near-certainty of a September Fed rate cut The US economic docket revealed that the labor market continues to weaken after Initial Jobless Claims for the previous week rose. Other data showed that the trade deficit widened in July, while the...
Oil prices plunged 1.5% on Thursday, extending a more than 2% decline in the previous session, as investors awaited the weekend OPEC+ meeting where producers are expected to consider another production hike. Brent crude fell $1, or 1.5%, to $66.59 a barrel at 11:04 GMT, while U.S. West Texas Intermediate crude fell $1, or 1.6%, to $62.95 a barrel. The eight-member Organization of the Petroleum Exporting Countries (OPEC+) and its allies – known collectively as OPEC+ – will consider further production increases in October at a meeting on Sunday, two sources familiar with the discussions told...
The US dollar held steady on Thursday (September 4) amid a volatile week as investors grappled with a fragile bond market and data showing a weakening labor market, which has reinforced expectations that the Federal Reserve will cut interest rates this month. With the Fed's focus on employment, Friday's key employment report will help set expectations for the central bank's next few policy meetings. Wednesday's data showed job openings fell to a 10-month low in July, although layoffs remained relatively low. Separate surveys of private-sector employment and monthly layoffs will be released...
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...