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 consolidates in early Asian trade ahead of the Jackson Hole economic symposium later this week. Traders await any further signals that Fed rate cuts are imminent, ANZ Research analysts say in a research report. This may happen at the symposium, where Fed Chair Powell is expected to set the scene for rate cuts as soon as September, the analysts say. However, a stronger USD has tempered investor demand while easing geopolitical tensions have weighed on safe-haven-related buying, they add. Spot gold is little changed at $3,331.89/oz. Source: Bloomberg
GBP/USD saw a softer start to the new trading week, easing back around four-tenths of one percent through the opening market sessions. The US Dollar (USD) pared some of last week's overall losses, trimming near-term gains for the Pound Sterling (GBP) on Monday. The week starts on a quiet note, with little of note on the data docket. That all changes on Wednesday, with a fresh salvo of key economic data from the United Kingdom (UK) and the start of this year's Jackson Hole Economic Symposium hosted by the Federal Reserve (Fed) Bank of Kansas. UK Consumer Price Index (CPI) inflation figures...
EUR/USD begins the week on a lower note, down 0.30% as traders await the outcome of the meeting between US President Donald Trump and Ukraine's Volodymyr Zelenskiy, after the former met with his Russian counterpart Vladimir Putin last Friday. The pair trades at 1.1669 after hitting a daily high of 1.1715. Positive news emerged from the meeting between Trump, Zelensky, and European leaders in the White House. Trump said that the day has been successful so far as Russia agreed to security guarantees, though in exchange for some territory. He answered German Chancellor Merz's demands about a...
Oil prices settled 1% higher on Monday after talks between U.S. President Donald Trump and his Ukrainian counterpart in the wake of an inconclusive U.S.-Russia summit in Alaska on Friday. Brent crude futures settled 75 cents, or 1.14%, higher at $66.60 a barrel. U.S. West Texas Intermediate crude gained about 62 cents, or 0.99%, to $63.42. Last week, Brent eased by 1.1% while WTI dropped 1.7%. Trump and Ukrainian President Volodymyr Zelenskiy met on Monday at the White House to discuss a path to ending Russia's war in Ukraine. Speaking to reporters in the Oval Office with Zelenskiy...
The Australian Dollar (AUD) is losing ground against its US counterpart to kick off the week, with the AUD/USD pair slipping below the 0.6500 mark during the New York session on Monday. The move reflects a firmer US Dollar (USD), supported by rising Treasury yields and cautious market sentiment as a high-stakes meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy gets underway in Washington. The US Dollar Index (DXY), tracking the Greenback against a basket of major currencies, is trading near 98.14, recovering modestly after hitting a near two‑week low last...
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...