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 rose on Monday after the United States clinched a trade deal with the European Union and may extend a tariff pause with China, relieving concerns that higher levies could have hurt economic activity and limited fuel demand. Brent crude futures inched up 20 cents, or 0.29%, to $68.64 a barrel by 0336 GMT, while U.S. West Texas Intermediate crude stood at $65.31 a barrel, up 15 cents, or 0.23%. The US-European Union trade deal and a possible extension in the US-China tariff pause are supporting global financial markets and oil prices, IG markets analyst Tony Sycamore said. "With...
Oil rose after the US and European Union agreed on a trade deal ahead of President Donald Trump's tariff deadline of Aug. 1. Brent was near $69 a barrel after closing 1.1% lower on Friday, and West Texas Intermediate traded above $65. The EU faces 15% levies on most of its exports, although Trump and European Commission President Ursula von der Leyen appeared to differ on some key details of the agreement. Trump's trade policies and threats of retaliation from targeted countries have raised concerns about the outlook for global economic growth, weighing on oil and...
The Japanese Yen (JPY) kicks off the new week on a softer note as the latest optimism over a trade deal between the US and the European Union (EU) undermines traditional safe-haven assets. Furthermore, reduced bets for an immediate interest rate hike by the Bank of Japan (BoJ), amid signs of cooling inflation in Japan and domestic political uncertainty, keep the JPY bulls on the defensive. Meanwhile, Japan's trade deal with the US keeps the door open for an imminent BoJ rate hike this year, which, in turn, is seen acting as a tailwind for the JPY. This, along with subdued US Dollar (USD)...
The Australian Dollar (AUD) maintains its position on Monday, after registering losses in the previous two sessions. The AUD/USD pair gained ground following the announcement of a newly established trade agreement between the United States (US) and the European Union (EU). Traders await further development on the meeting between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, scheduled on Monday in Stockholm. The two countries are expected to extend their tariff truce by another three months, according to a source cited by the South China Morning Post (SCMP) on...
The US dollar index dipped to around 97.5 on Monday, retreating after a two-day advance as the euro strengthened following the weekend's US-EU trade agreement. The deal, which imposes a 15% tariff on most European exports, down from the 30% initially threatened, eased transatlantic trade tensions and boosted demand for the euro. Meanwhile, investors are turning their focus to a pivotal week for US monetary policy and economic data. The Federal Reserve is widely expected to leave interest rates unchanged on Wednesday, but markets will closely watch for signals regarding a potential rate cut...
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...