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 was little changed to around $0.652 on Wednesday, after a 0.5% drop in the previous session, as strength in the US dollar offset upbeat domestic GDP data. The greenback held firm, supported by safe-haven demand amid global economic uncertainty, renewed trade tensions, and geopolitical risks, while concerns over rising debt burdens across major economies further supported appetite for the dollar. On the domestic front, Australia's economy grew 0.6% in Q2, surpassing expectations of 0.5% and accelerating from a revised 0.3% in Q1, marking the 15th straight quarter of...
Gold edges lower in the early Asian trade, after hitting a record high on Tuesday. There has been growing unease among investors about U.S. monetary policy, ANZ Research analysts write in a note. The Trump administration is looking to remake the Fed's board of governors with candidates more amenable to the President's policies, they say. Investors await the U.S. nonfarm payrolls data for August due Friday, which would shape the Fed's rate path trajectory. Weak data could benefit non-yielding assets, including precious metals, says Frank Walbaum, a market analyst at Naga, in a note. Spot...
Oil steadied after closing at the highest in a month as investors weighed a host of geopolitical risks, including a potential escalation of US sanctions on Russian flows, in the run-up to an OPEC+ meeting on supply. West Texas Intermediate was little changed below $66 a barrel, while global benchmark Brent settled above $69. President Donald Trump said he was watching closely to see how Russian President Vladimir Putin addressed efforts to set up a meeting with his Ukrainian counterpart, and signaled he was considering additional measures if talks did not progress. At...
The USD/JPY pair trades on a stronger note around 148.50 during the early Asian session on Wednesday. Heightened political uncertainty in Japan weighs on the Japanese Yen (JPY) against the US Dollar (USD). The US JOLTS Job Openings and the Fed Beige Book will be published later on Wednesday. On Friday, the US Court of Appeals for the Federal Circuit upheld a ruling that the sweeping tariffs the US President Donald Trump unilaterally imposed on most other countries were illegal. The decision impacts Trump's so-called "reciprocal" tariffs on most nations across the globe, including additional...
The USD/CHF advances for the third straight day, up by 0.57% on Tuesday trading at 0.8050 as risk aversion boosted the Greenback. Economic data revealed in the United States (US) was mixed, as business activity in the manufacturing sector showed that growth is slowing down. Despite this, threats to Fed independence courtesy of pressures from the White House, along with uncertainty due to policies by the Trump administration, triggered inflows towards the US Dollar. Source: Fxstreet
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...