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...
Oil prices declined on Thursday as U.S. President Donald Trump's August 1 tariff deadline loomed over investors, with uncertainty surrounding countries yet to negotiate a trade deal with the U.S. Brent crude futures for September expired on Thursday and settled down 71 cents, or 0.97% to $72.53 a barrel. U.S. West Texas Intermediate crude for September settled down 74 cents, or 1.06%, to $69.26. U.S. crude futures fell more than $1 earlier in the session. Both benchmarks had recorded 1% gains on Wednesday. Countries that haven't negotiated a trade deal or received a tariff letter from the...
The Japanese Yen (JPY) weakens for the sixth consecutive day against the US Dollar with the USD/JPY pair surging to its highest level in over four months after the Bank of Japan (BoJ) kept its short-term interest rate steady at 0.50% for a fourth consecutive meeting, as widely expected, but the accompanying tone and forward guidance triggered a notable dovish market reaction. At the time of writing, USD/JPY is edging higher, breaking decisively above the key psychological barrier at 150.00 and hovering near 150.72 during American trading hours, up nearly 0.85% on the day. At the BoJ press...
The Swiss Franc (CHF) steadies against the US Dollar (USD) on Thursday, snapping a six-day losing streak as investors rotate back into the Franc amid renewed safe-haven demand. The cautious tone in markets comes ahead of the looming US tariff deadline on Friday, August 1, with US President Donald Trump reiterating that new tariffs will be imposed on countries without finalized trade agreements. The shift in sentiment reflects heightened uncertainty surrounding global trade policy, prompting a pause in recent USD strength against the Swiss Franc. The USD/CHF pair hit its highest level in...
The EUR/USD pair is posting marginal gains on Thursday, following a sharp sell-off over the last three days. The pair extended its decline on Wednesday following a hawkish message from the Federal Reserve (Fed), and remains on the defensive after Germany's preliminary Consumer Prices Index (CPI) confirmed the easing inflationary pressures, with all eyes on the US Personal Consumption Expenditures (PCE) Prices Index figures. The Euro (EUR) is trading at 1.1450 at the European market opening, up from the seven-week lows at 1.1400 hit after the Fed's monetary policy decision on Wednesday, yet...
Gold prices recovered on Thursday after the Federal Reserve (Fed) held rates unchanged, as the August 1 trade deadline imposed by US President Donald Trump looms. The Greenback remains steady on a tranche of good economic data, though the XAU/USD trades at $3,296, gaining 0.61%. Yesterday, the Fed maintained the fed funds rate at the 4.25%-4.50% range on a 9-2 split decision, with Governors Bowman and Waller opting for a 25-bps rate cut. Besides this, the Fed Chair Jerome Powell pushed back against Trump's comments that they might ease policy in September and said that they would adopt a...
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...