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 held around $37 per ounce on Monday after gaining nearly 1% in the previous session, supported by rising expectations for a Fed rate cut following a weak US employment report for July. Data released Friday showed nonfarm payrolls rose by just 73,000, well below expectations, with a downward revision of 258,000 from previous months, signaling deeper labor market stress. The market is now almost fully pricing in a Fed rate cut in September, with more than 63 basis points of easing expected by the end of the year. A weaker dollar and falling US Treasury yields have further boosted...
The Japanese yen weakened toward 148 per dollar on Monday (August 4), weakening after the previous session's gains as investors reassessed the direction of US Federal Reserve policy. Although a weak US jobs report on Friday reinforced expectations of a near-term interest rate cut, Fed officials remained cautious, citing inflation risks associated with President Trump's massive tariffs. The dollar strengthened again as sentiment shifted, pressuring the yen. Meanwhile, markets awaited the minutes of the Bank of Japan's latest policy meeting for clues on the timing of a potential interest rate...
The Australian Dollar (AUD) strengthened against the US Dollar (USD) on Monday (August 4), extending its gains for the second consecutive trading day. The AUD/USD pair strengthened following the release of Australian inflation gauge data. The TD-MI Inflation Gauge rose 0.9% month-on-month in July, following a modest 0.1% increase in June and marking the sharpest increase since December 2023. Meanwhile, the annual inflation gauge remained consistent at 2.4%. This monthly increase adds to the Reserve Bank of Australia's (RBA) concerns amid ongoing uncertainty in supply chains and consumer...
The EUR/USD currency pair fell near 1.1550 in early trading on Monday, despite market reactions to the prospect of an interest rate cut by the Federal Reserve. This decline occurred after the euro had strengthened by around 1.5% in the previous session. The strengthening of the US dollar was the main driver of the euro's weakness, following the currency's recovery from losses suffered following the release of disappointing US employment data. US Nonfarm Payrolls (NFP) data in July showed an increase of only 73,000 jobs, well below the 110,000 expected. The previous month's figure was also...
Gold edged lower early in the Asian session on a technical correction after gold futures closed nearly 1.7% higher last Friday. However, gold's decline may have been limited by rising expectations of a Fed rate cut, which has strengthened the appeal of the non-yielding precious metal. Friday's employment data "was clearly a warning," said Fawad Razaqzada, market analyst at City Index and FOREX.com, in an email. "The Fed's dual mandate includes employment, and this data shows weakness. Fed pessimists are circling," the analyst added. Spot gold fell 0.1% to $3,356.81/oz. (alg) Source: Dow...
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...