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 held steady on Friday (August 1st), but were set for a third consecutive weekly loss due to pressure from a stronger dollar and diminishing expectations for a US interest rate cut, while uncertainty surrounding US tariffs on trading partners provided support. Spot gold was steady at $3,293.56 per ounce as of 09:34 GMT. Bullion was down 1.4% for the week. US gold futures edged down 0.1% to $3,344.60. The dollar index hit its highest level since May 29, making gold more expensive for holders of other currencies. "Gold remains weighed down by diminishing speculation of a Fed rate...
The dollar headed for its strongest weekly performance in nearly three years against major currencies, maintaining momentum on Friday (August 1st) after US President Donald Trump imposed new tariffs on dozens of trading partners. Some currencies of the hardest-hit countries, such as Switzerland, which now faces 39% tariffs, fell sharply. The Swiss franc hit its weakest level in six weeks, while the Canadian dollar headed for its seventh straight weekly decline. The dollar also strengthened against other currencies due to factors other than tariffs. The yen headed for its biggest weekly...
Oil prices were little changed on Friday (August 1st) and headed for weekly gains, as investors weighed the impact of further tariffs and sanctions from US President Donald Trump. Brent crude futures rose 19 cents, or 0.26%, to $71.89 per barrel at 08:23 GMT. US West Texas Intermediate crude futures rose 20 cents, or 0.29%, to $69.46 per barrel. Oil prices stabilized on Friday after falling more than 1% in the previous session. However, for the week, Brent is expected to rise 5%, and WTI around 6.6%. Investors have been focused on the potential impact of US tariffs on oil prices this week,...
Silver prices fell 0.5% to near $36.50 during the European trading session on Friday (August 1). The precious metal faced selling pressure as the confirmation of tariff agreements by the United States (US) with several of its major trading partners, such as Japan, the European Union (EU), South Korea, and others, as well as growing investor confidence that Washington will reach a deal with China, has reduced demand for safe-haven assets, such as silver. Safe-haven assets have performed strongly since US President Donald Trump's announcement of tariff policies, which aim to reduce the...
Silver prices hovered around $36.60 per ounce on Friday and were on track for a weekly loss of about 4%, pressured by a stronger US dollar. The dollar's strength was underpinned by renewed trade tensions after President Donald Trump reaffirmed a 10% global tariff and imposed reciprocal levies of up to 41% on countries without finalized trade deals. Investors also remained cautious ahead of the July US jobs report, which is expected to guide the Federal Reserve's next policy move. On Thursday, core PCE prices, the Fed's preferred inflation gauge, rose 0.3% in June and 2.8% year-on-year,...
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...