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 (XAU/USD) continued its sideways consolidation throughout the first half of the European session on Wednesday and remained near all-time highs. Growing acceptance that the US Federal Reserve (Fed) will cut interest rates this month limited the US Dollar's (USD) recovery and continued to act as a driver for the non-yielding yellow metal. Furthermore, ongoing trade-related uncertainty benefited the precious metal's safe-haven status and helped limit declines. However, gains remained limited as bullish investors appeared reluctant to place new bets amid highly overbought conditions....
Oil prices eased in Asia on Wednesday but held near one-month highs on the back of new U.S. sanctions on a network of shipping companies and vessels, while traders looked ahead to an OPEC+ meeting over the weekend. Brent crude fell 19 cents, or 0.3%, to $68.95 a barrel by 0433 GMT. U.S. West Texas Intermediate crude dipped 16 cents, or 0.2%, at $65.43 a barrel. The benchmarks settled up more than 1% in the previous session after the U.S. imposed new sanctions on a network of shipping companies and vessels led by an Iraqi-Kittitian businessman for smuggling Iranian oil disguised as Iraqi...
Silver traded around $40.7 per ounce on Wednesday, lingering at its strongest level since 2011 as fiscal strains, renewed trade tensions and ongoing geopolitical risks lifted safe-haven demand. Support also came from expectations of a US Federal Reserve rate cut this month, with markets pricing a 92% chance of a 25 basis point move. Geopolitical nerves heightened after President Xi Jinping warned the world faced a choice of "peace or war" and "dialogue or confrontation" during a military parade, while US President Donald Trump alleged on social media that China was conspiring against the...
Gold's surge in recent days, to a new record high, is mostly likely due to haven demand, according to Commonwealth Bank of Australia analyst Vivek Dhar. "This is likely tied to concerns over the Fed's independence and the legality of U.S. tariffs," Dhar says in a note. Demand for the precious metal as a haven for investors is "notoriously difficult to predict in respect to timing, duration and price impact," he says. Still, CBA's forecast for gold to average $3,500/oz in 4Q is already looking too low, says Dhar. A price around $3,650/oz instead next quarter is "now a real possibility," he...
The Japanese Yen (JPY) maintains its offered tone through the Asian session on Wednesday amid heightened domestic political and trade-related uncertainties. Furthermore, the lack of hawkish signals from Bank of Japan (BoJ) Deputy Governor Ryozo Himino on Tuesday seems to encourage speculators to continue building short JPY positions. Apart from this, some follow-through US Dollar (USD) uptick lifts the USD/JPY pair back closer to a one-month top, around the 149.00 neighborhood touched the previous day. Meanwhile, expectations that Japan's tight labor market could fuel further wage gains and...
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...