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 EUR/USD turned flat late on Thursday, spurred by rumors that the White House is considering Federal Reserve Governor Christopher Waller as the top candidate to be the next Fed Chair, succeeding Jerome Powell. Economic data in the US has been ignored by investors, who are digesting Trump's choice to replace Kugler with Dr. Stephen Miran for a period that would end in January 2026. The pair trades at 1.1661. Bloomberg revealed that "Trump advisers are impressed with Waller's willingness to move on policy based on forecasting, rather than current data, and his deep knowledge of the Fed...
The GBP/USD surges during the North American session, though trading below an eight-day high reached at 1.3436 after the Bank of England (BoE) decided to cut interest rates on a close vote split, signaling that policymakers remained worried about inflation. Also, a jump in unemployment claims in the United States (US) keeps the Dollar pressured. The pair trades at 1.3410, up 0.48%. Earlier, the BoE cut rates on a 5-4 vote split to 4%, as four members of the BoE's Monetary Policy Committee (MPC) voted to hold rates unchanged, while Taylor wanted a 50-bps rate cut. In its monetary policy...
Silver rose above $38 per ounce on Thursday, reaching its highest level in over a week as expectations for Federal Reserve rate cuts intensified amid signs of a softening US labor market. Investors now await the latest weekly jobless claims data for further confirmation. Adding to the dovish outlook, President Donald Trump is expected to nominate a successor to outgoing Fed Governor Adriana Kugler by the end of the week and has shortlisted four candidates to replace Fed Chair Jerome Powell. Geopolitical tensions also supported safe-haven demand. Trump announced a doubling of tariffs on...
Gold price (XAU/USD) struggles to break above $3,400.00 after testing this key level early Thursday. The precious metal hesitates to extend upside even as Federal Reserve (Fed) officials have shown support for interest rate cuts in the remainder of the year. On Wednesday, Minneapolis Fed President Neel Kashkari, San Francisco Fed President Mary Daly and Fed Governor Lisa Cook argued in favor of reducing interest rates amid growing labor market concerns. "The economy is slowing and the Fed needs to respond to the slowing economy," Kashkari said in an interview with CNBC. Kashkari added, "It...
Oil prices edged higher Thursday, benefiting from signs of healthy U.S.demand, while traders assessed the potential impact on supply from U.S. tariffs as well as Ukraine peace talks. At 08:30 ET (12:30 GMT), Brent oil futures for October rose 0.5% to $67.19 a barrel and West Texas Intermediate crude futures gained 0.5% to $64.66 a barrel. Both benchmarks slid about 1% on Wednesday, touching their lowest in eight weeks. U.S. crude stocks fall Crude prices have pushed higher after the Energy Information Administration said on Wednesday that U.S. crude oil stockpiles fell by 3 million...
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...