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...
Gold prices weakened slightly on Wednesday (August 6th) as the dollar strengthened slightly, while investors refrained from placing large bets ahead of US President Donald Trump's decision on Fed official appointments. Spot gold fell 0.1% to $3,376.01 an ounce, as of 03:12 GMT, after hitting a near two-week high on Tuesday. US gold futures fell 0.1% to $3,431.10. The dollar rebounded from a one-week low reached in the previous session, reducing gold's appeal for holders of other currencies. "We see that gold prices are consolidating and are actually biased slightly upward," said Brian Lan,...
Silver (XAG/USD) prices remained stable after posting gains in three consecutive sessions, trading around $37.80 per troy ounce during the Asian session on Wednesday (August 6th). Technical analysis of the daily chart shows the precious metal moving upward within an ascending channel pattern, indicating a persistent bullish bias. The 14-day Relative Strength Index (RSI) is above 50, reinforcing the bullish bias. However, silver is trading below the nine-day Exponential Moving Average (EMA), indicating weakening short-term price momentum. On the upside, the XAG/USD pair is likely to explore...
The US Dollar Index (DXY), a measure of the value of the US dollar (USD) against a basket of six global currencies, traded slightly higher near 98.80 during Asian trading hours on Wednesday (August 6th). Traders are preparing for speeches from Federal Reserve (Fed) policymakers, including Susan Collins, Lisa Cook, and Mary Daly, later this month. The DXY remained strong as traders continue to assess global trade developments, which could trigger renewed market volatility. US President Donald Trump's latest trade deadline also falls on Friday, when a new round of high tariffs will take...
The Japanese Yen (JPY) oscillated within a range against the US currency during the Asian session on Wednesday (August 6th), moving little following the release of less-than-impressive macro data. Japan's inflation-adjusted real wages fell for the sixth consecutive month in June, fueling concerns about a consumption-driven recovery. This occurred amid domestic political uncertainty and dampened speculation of an imminent interest rate hike by the Bank of Japan (BoJ). Furthermore, signs of stability in the equity market have hampered the JPY's safe-haven stance. Meanwhile, the BoJ revised...
Gold held its longest streak of gains since February, boosted by fears of a US economic slowdown that have increased haven demand, along with traders' bets on lower interest rates. Bullion was steady at around $3,383 an ounce in early Asian trading, after gaining more than 3% over the previous four trading sessions. In the US, the latest sign of tariff-inflicted damage on the economy came from data that showed the services sector effectively stagnated in July. Other figures last week highlighted a weak labor market and consumer spending. Signs of...
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...