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 dollar index hovered around 97.8 on Tuesday as investors returned from the holiday weekend and awaited crucial labor market reports this week that could shape the Federal Reserve's policy path. Attention is on Friday's August payrolls release, alongside unemployment, job openings, and private hiring figures. The greenback has faced pressure recently as markets boosted bets on Fed rate cuts despite sticky inflation, with traders pricing in nearly a 90% chance of a 25 basis point reduction later this month. San Francisco Fed President Mary Daly said Friday the central bank is prepared to...
The spot gold price strengthened again and set a new record in trading on Tuesday (September 2nd) morning, reaching US$3,505 per ounce—its highest level ever. Market sentiment was driven by strong expectations that the Federal Reserve will cut interest rates by 25 basis points at its upcoming September meeting, with a probability of nearly 90 percent. The weakening US dollar also strengthened gold's position as a safe-haven asset, especially following dovish comments from Fed officials and a US court ruling that partially lifted Trump-era tariffs. Meanwhile, holdings of SPDR Gold Trust—the...
Gold prices rose to an over four-month high on Tuesday and were close to a record high as safe haven demand was boosted by heightened uncertainty over U.S. President Donald Trump's trade tariffs. Persistent bets that the Federal Reserve will cut interest rates in September kept gold underpinned, as did sustained weakness in the dollar, which hit a one-month low. Spot gold rose 0.2% to $3,483.02 an ounce, while gold futures for December rose 0.2% to $3,554.32/oz by 20:41 ET (00:41 GMT). Spot prices were trading less than $20 away from a late-April record high of $3,500/oz. US tariff...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.50 during the early Asian trading hours on Tuesday. The WTI edges lower amid concerns about weaker global demand following US President Donald Trump's doubling of the existing 25% duty on Indian exports. Traders brace for the American Petroleum Institute (API) weekly crude oil stock, which will be published later on Tuesday. The Trump administration's decision to impose steep tariffs on Indian imports took effect, raising fears of slowing trade and weaker global demand, which undermines the WTI price. The Trump...
Global benchmark Brent crude oil settled 1% higher on Monday, as concerns mounted that intensifying airstrikes in Russia and Ukraine could lead to supply disruptions, and as a weaker dollar lent additional support. Brent crude futures settled up 67 cents, or 1%, at $68.15 a barrel. The U.S. benchmark, the West Texas Intermediate futures contract , was up 67 cents, or 1.1% at $64.68 by 2:15 p.m. ET. There will be no settlement for WTI futures on Monday due to Labor Day holiday in the U.S. Trading volume for both Brent and WTI was also muted due to that reason. Ukrainian President Volodymyr...
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...