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...
A Bloomberg gauge of the dollar fell after US consumer inflation figures largely matched expectations, sending Treasury yields lower across the curve. Traders added to bets on a September interest-rate cut by the Federal Reserve. The Bloomberg Dollar Spot Index down 0.3%; two-year Treasury yield falls 6bp to 3.71% US headline CPI rose 0.2% MoM (0.2% forecast); core CPI rose 0.3% MoM (0.3% expected) Headline YoY CPI came in at 2.7% versus 2.8% forecast Read more: US Core CPI Picks Up to Fastest Pace Since January on Services "Inflationary pressures look very...
Oil prices fell to the lowest in more than two months early on Tuesday as rising supply continues to offset strong summer demand. West Texas Intermediate crude oil for September delivery was last seen down US$0.44 to US$63.52 to US$63.52, the lowest since June 5, while October Brent crude was down US$0.34 to US$66.29. The drop comes as the market continues to grapple with rising supply, as OPEC+ completes the return of 2.2-million barrels per day of production cuts with a final tranche of 548,000 bpd in September, boosting output despite rising production from North and South America and...
Gold futures fall ahead of key U.S. economic data. Futures are down 0.3% at $3,394.40 a troy ounce. If Tuesday's Consumer Price Index data comes in soft, pressure will mount on the Federal Reserve to cut interest rates further, benefiting non-interest bearing bullion, Commerzbank analysts say in a note. Gold prices came under pressure in the prior session, falling sharply on a stronger U.S. dollar and renewed hopes for an end to the Russia-Ukraine war sapping safe-haven demand, Commerzbank says. Gold prices on U.S. commodities exchange Comex were further weighed down by expectations that...
The Pound Sterling (GBP) attracts significant bids against its major peers on Tuesday after the release of the upbeat United Kingdom (UK) labor market data for the three-months ending June. The Office for National Statistics (ONS) reported that the economy created fresh 239K jobs in the second quarter of the year, well above the 134K workers hired in the three months ending May. This is a significant recovery from earlier indicatores, which showed that firms became reluctant to increase their workforce due to the increase in employers' contributions to social security schemes to 15%. The...
Gold prices edged higher on Tuesday, after a sharp selloff in the previous session, as investors focused on U.S. inflation data that could shape the Federal Reserve's rate-cut timeline. Spot gold was up 0.2% at $3,349.13 per ounce, as of 0904 GMT. U.S. gold futures for December delivery were steady at $3,398.90. Bullion slid 1.6% to a more than one-week low on Monday, while futures dropped more than 2%, after U.S. President Donald Trump ruled out tariffs on imported bullion. Comex front-month gold futures are now in line with London spot after a near $40/ounce premium on Friday, said...
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...