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 USD/CHF rises during the North American session as recent economic data from the States prompted investors to reduce bets that the Fed would cut rates by 50 bps, as stated by the US Treasury Secretary Scott Bessent on Wednesday. At the time of writing, the pair traded at 0.8077, up 0.26%. On Thursday, Bessent backpedaled and said that it is the Fed's job to set interest rates. Meanwhile, traders who piled in for a big size cut scrambled to get out of those positions as US PPI approached the 3.5% figure. Source; Fxstreet
EUR/USD dives sharply on Thursday as the latest inflation report in the United States (US) caught traders off guard, who were betting on a slim chance of a 50 basis points (bps) Federal Reserve (Fed) rate cut in September. Currently, the pair trades at 1.1638, down 0.57%. The US Bureau of Labor Statistics (BLS) revealed that the Producer Price Index (PPI) in headline and core prints accelerated sharply, mainly influenced by higher tariff levels imposed by the US. Meanwhile, jobs data showed that the number of people filing for unemployment benefits dipped compared to the previous reading,...
Oil prices climbed about 2% to a one-week high on Thursday after U.S. President Donald Trump warned of "severe consequences" if his talks with Russian President Vladimir Putin on Ukraine fail, and on optimism that a likely U.S. interest rate cut next month could spur oil demand. Central banks, like the U.S. Federal Reserve, use interest rates to control inflation. Lower rates reduce consumer borrowing costs and can boost economic growth and demand for oil. Brent crude futures rose $1.21, or 1.8%, to settle at $66.84 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.31, or...
The Japanese Yen (JPY) loses ground against the US Dollar (USD) on Thursday, snapping a two-day winning streak after stronger-than-expected US Producer Price Index (PPI) and steady Weekly Jobless Claims data lifted the Greenback. USD/JPY, which fell earlier in the day to its lowest level in three weeks near 146.22, attracted fresh buying interest and reversed sharply higher during the American session, last seen trading around 147.90, up nearly 0.35%. The rebound in the pair mirrors a broader recovery in the US Dollar, with the Dollar Index (DXY), which tracks the Greenback's value against...
Silver (XAG/USD) edges lower on Thursday, snapping a two-day losing streak as stronger-than-expected US Producer Price Index (PPI) and upbeat Jobless Claims data bolster the US Dollar. At the time of writing, the metal is trading near $38.00 during the American session, down nearly 1.30% on the day. Earlier in the Asian session, XAG/USD struggled to sustain gains above $38.50, peaking at $38.74 — its highest level since July 25 — before sellers pushed prices lower. Meanwhile, the US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, is staging a...
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...