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...
Oil edged lower to head for a monthly loss, with trading dominated by concerns about a looming glut and geopolitical tensions, including US-led efforts to end the war in Ukraine. Brent for November delivery traded near $68 a barrel, with the global benchmark about 5% lower this month. West Texas Intermediate fell toward $64. Oil has lost ground in August on worries that global supplies will run ahead of demand in the coming quarters, boosting stockpiles. Investors are also focused on Ukraine, and potential shifts in crude flows from Russia. US President Donald Trump...
EUR/USD loses ground after three days of losses, trading around 1.1660 during the Asian hours on Friday. Traders await July Retail Sales and August preliminary Consumer Price Index (CPI) data from Germany later in the day. Focus will shift toward the July US Personal Consumption Expenditures (PCE) Price Index data due in the North American session. The EUR/USD pair depreciates as the US Dollar (USD) recovers ground, as the United States (US) economy grew in the second quarter. US Gross Domestic Product (GDP) Annualized climbed 3.3% in Q2, a faster pace than the initially estimated 3.1%...
Gold hovered around $3,410 per ounce on Friday, near its highest level in over a month, and is on track for a second consecutive weekly gain, sustained by a softer US dollar and safe-haven demand. The metal continued to draw support as investors sought refuge amid uncertainty over US monetary policy. Concerns that political pressure on the Federal Reserve could accelerate interest rate cuts have bolstered prices, with markets largely pricing in a 25 bps reduction in September. Fed Governor Christopher Waller also signaled support for starting rate cuts next month, saying he "fully expects"...
The Australian dollar edged higher to around $0.654 on Friday, marking its fourth consecutive session of gains to hit a two-week high, as the US dollar remained under pressure. The greenback continued to struggle from mounting expectations of a Federal Reserve rate cut next month as Governor Christopher Waller signaled support for easing, while President Donald Trump's removal of Fed Governor Lisa Cook raised fresh concerns about the central bank's independence. The AUD also drew strength from stronger-than-expected domestic inflation, tempering market bets on near-term rate cuts from the...
Gold prices are flat in early Asian trade. Geopolitical tensions, renewed trade frictions and dented global sentiment have kept investors leaning on the yellow metal as a safe haven, Phillip Nova analyst Priyanka Sachdeva says in a research note. While profit-taking could cap gains for gold prices after the recent rally, broader macro drivers are still supportive, she notes. Gold prices will be shaped by incoming U.S. data such as the July PCE print, the analyst says, as they could cement expectations of a Fed rate cut in September. Spot gold is flat at $3,415.35/ oz. Source: Bloomberg
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...