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 U.S. dollar slipped on Friday as investors remained cautious about the rate outlook ahead of import price data, after recent figures suggested inflation could accelerate in the coming months. The yen outperformed the euro and the pound after surprising strong Japanese growth data which showed export volumes held up well against new U.S. tariffs. All eyes will be on a meeting in Alaska later on Friday between U.S. President Donald Trump and his Russian counterpart Vladimir Putin, though hopes of sealing a ceasefire agreement on Ukraine remain uncertain. U.S. import price figures will...
Oil prices fell on Friday as concerning economic data from the U.S. and China, the world's two largest oil users, increased worries about fuel demand while investors also await the summit between U.S. President Donald Trump and Russian leader Vladimir Putin. Brent crude futures fell 39 cents, or 0.58%, to $66.45 a barrel by 0750 GMT. U.S. West Texas Intermediate crude futures declined 42 cents, or 0.66%, to $63.54. For the week, WTI is set to drop 0.5% while Brent is set to decline 0.2%. Chinese government data released on Friday showed factory output growth slumped to an eight-month low...
Gold prices gained on Friday, helped by a pullback in the dollar, although bullion was headed for a weekly fall as hotter-than-expected U.S. inflation data dented expectations for a super-sized 50-basis-point (bps) Federal Reserve rate cut. Spot gold rose 0.2% to $3,341.90 per ounce as of 0653 GMT. Bullion has lost 1.5% for the week. U.S. gold futures for December delivery gained 0.1% to $3,387.60. "Gold is still grappling with the aftermath of the PPI jump, which raised questions over just how far the Fed may be inclined to reduce rates this year," said Tim Waterer, chief market analyst...
Gold prices are expected to decline for the week on Friday (August 15th), as higher-than-expected US inflation data dampened expectations for a 50 basis point (bps) Fed rate cut in September. Spot gold prices rose 0.1% to $3,339 per ounce at 02:44 GMT. Bullion prices have fallen 1.8% over the week. US gold futures for December delivery were flat at $3,384. "Gold is still grappling with the impact of the surge in PPI, which raises questions about how much the Fed is willing to cut rates this year," said Tim Waterer, chief market analyst at KCM Trade. The US producer price index (PPI) rose...
The Australian Dollar (AUD) remained weak against the US Dollar (USD) on Friday (August 15th), following disappointing key economic data from China, Australia's main trading partner. AUD/USD weakened more than 0.5% in the previous session as the US Dollar strengthened following stronger US economic data. China's Retail Sales rose 3.7% year-on-year (yoy) in July, lower than the 4.6% forecast and 4.8% in June. Meanwhile, Industrial Production increased 5.7% YoY, compared to the 5.9% and 6.8% forecasts. The weakness of the AUD/USD pair is likely limited as the US Dollar weakened amid growing...
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...