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...
EUR/USD advances steadily during the North American session as the Federal Reserve (Fed) unveils its latest Meeting Minutes. At the time of writing, the pair trades at around 1.1660 and clings to minimal gains of 0.13%. Hawkish Fed Minutes caps Euro's advance; Trump presses Fed governor to resign amid fraud probe The Minutes of the Fed's August meeting showed that the majority of the board "saw inflation risk outweighing employment risk," and that several officials said, "that the current rate may not be far above neutral." This contradicts what US Treasury Secretary Scott Bessent argued...
The Australian Dollar (AUD) extends its decline for the third consecutive day against the US Dollar (USD) on Wednesday, touching a three-week low before steadying. At the time of writing, AUD/USD is consolidating losses around 0.6432, down over 0.30% on the day, as the Aussie remains under pressure despite a softer Greenback. The US Dollar is easing back from a one-week high, weighed down by renewed political tension in Washington after President Donald Trump publicly called for the resignation of Federal Reserve Governor Lisa Cook. The move has injected fresh uncertainty into the central...
Oil prices climbed about 2% on Wednesday on a bigger-than-expected weekly drop in U.S. crude inventories as investors awaited the next steps in talks to end the Ukraine war, with sanctions on Russian crude remaining in place for now. Brent crude futures were up $1.05, or 1.6%, to settle at $66.84 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 86 cents, or 1.4%, to settle at $63.21. The U.S. Energy Information Administration said energy firms pulled 6.0 million barrels of crude from inventories during the week ended August 15. That was bigger than the draw of 1.8 million...
Gold prices are rising on Wednesday after US President Donald Trump continued to exert pressure on the Federal Reserve (Fed) as he demands Fed Governor Lisa Cook resign due to an investigation of mortgage fraud. Threats of curtailing the Fed's independence pushed XAU/USD higher, from around $3,330 toward $3,350, its daily high. At the time of writing, Gold trades at $3,342, up 0.84%. Domestic political issues in the US weighed on the US Dollar. The US Dollar Index (DXY), which tracks the performance of a basket of six currencies against the Greenback, is down 0.05% at 98.21. A Bloomberg...
The dollar fell on Wednesday after U.S. President Donald Trump called on Federal Reserve Governor Lisa Cook to resign, but pared gains after minutes from the Fed's latest meeting showed that only two policymakers supported an interest rate cut last month. Trump cited allegations made by one of his political allies about mortgages Cook holds in Michigan and Georgia, intensifying his effort to gain influence over the U.S. central bank. Trump has also told aides he is considering attempting to fire Cook, the Wall Street Journal reported on Wednesday. "The market has voted with its pocketbook...
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...