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...
Silver prices rose 1% to around $38.30 an ounce on Wednesday (August 13), strengthening for the second straight session as the latest US inflation data reinforced expectations of a Fed rate cut next month. Headline inflation held steady at 2.7%, beating projections for a rate hike to 2.8%, while core inflation edged up to 3.1%, its highest level in six months. Markets currently price in a 94% probability of a 25 basis point rate cut in September, with another rate cut before the end of the year also reflected in expectations. Meanwhile, investors await this week's US-Russia talks in Alaska...
GBP/USD remained stable after posting a 0.5% gain in the previous session, trading around 1.3500 during the Asian session on Wednesday (August 13). The pair strengthened further as the US dollar (USD) weakened, driven by the latest US inflation data, which reinforced expectations of a Fed rate cut in September. The US Consumer Price Index (CPI) rose 2.7% year-on-year (yoy) in July, matching the 2.7% increase recorded in the previous month and below expectations of a 2.8% increase. Meanwhile, the annual core CPI rose 3.1% in July, compared to the 2.9% increase recorded in June, above market...
Gold edged higher on Wednesday (August 13th), supported by a weaker dollar after weak US inflation data reinforced speculation of a September interest rate cut, while investors focused on this week's US-Russia talks on the war in Ukraine. Spot gold rose 0.2% to $3,351.46 per ounce, as of 02:39 GMT. US gold futures for December delivery rose 0.1% to $3,401.60. "The weaker USD is allowing for a modest rise in gold prices, with the precious metal oscillating around the $3,350 level ahead of the Trump-Putin meeting on Friday," said Tim Waterer, chief market analyst at KCM Trade. "If the Alaska...
The dollar index strengthened as traders awaited comments from Federal Reserve officials for further clues on central bank policy after low inflation figures raised expectations for an interest rate cut next month. The Bloomberg Dollar Spot Index was little changed after a 0.4% decline on Tuesday. Chicago Fed President Austan Goolsbee and Atlanta Fed President Raphael Bostic are scheduled to speak later in the day. "The recent consolidation of the U.S. dollar in Asia reflects markets carefully considering incoming data and evolving policy signals," said Shier Lee Lim, head of macro strategy...
Oil prices held steady on Wednesday (August 13th) after a slight decline the previous day, with investors awaiting talks between US and Russian leaders on Friday as a potential catalyst for a new direction. Global benchmark Brent traded above $66 per barrel after falling 0.8% in the previous session, while West Texas Intermediate (WTI) hovered near $63. On the diplomatic front, US Secretary of State Marco Rubio held discussions with Russian Foreign Minister Sergei Lavrov to prepare for a summit between Donald Trump and Vladimir Putin. However, he reiterated that a breakthrough in the...
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...