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...
Brent rose toward $69 a barrel after a three-day decline, while West Texas Intermediate was near $66 a barrel. President Donald Trump unveiled an agreement with the Philippines setting a 19% tariff and a deal with Japan that sets a 15% rate, fueling a rally in Asian shares and US stock futures. US Treasury Secretary Scott Bessent said he will meet his Chinese counterparts for trade talks in Stockholm next week, and will "be working out what is likely an extension" to the current Aug. 12 deadline for negotiations. He also said that the...
The dollar held losses against the yen on Wednesday after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline. Trump said the agreement will result in Japan investing $550 billion into the United States and a tariff rate of 15% was set on U.S. imports from Japan. With an August 1 deadline looming before the imposition of sweeping import duties on trade partners, U.S. Treasury Secretary Scott Bessent said on Monday the administration is more concerned with the quality of trade agreements than the timing. Asked whether the deadline could be...
GBP/USD strengthened for the second consecutive day on Tuesday (July 22nd), driven by a general weakening in the global US dollar market. The US dollar (USD) continued to suffer as investors grew concerned about US President Donald Trump's targeting of Federal Reserve Chairman Jerome Powell, and concerns about the Fed's weakening political autonomy have shaken the dollar's support. President Trump continues to campaign for the removal of Fed Chairman Powell. Lacking the legal authority to directly intervene with Fed staff, the Trump administration is actively seeking to build arguments for...
Oil prices plummeted on Tuesday (July 23) for the third straight session, as hopes for a trade deal between the U.S. and Europe faded, fueling concerns of an economic slowdown in the world's largest oil market. Brent crude futures fell 82 cents, or 1.2%, to $68.39 a barrel at 1:59 p.m. EDT. U.S. West Texas Intermediate crude for August delivery, which expires on Tuesday, fell $1.05, or 1.6%, to $66.15 a barrel. The more active September WTI contract fell 87 cents, or 1.3%, to $65.08 a barrel. The European Union is exploring a broader range of possible retaliatory measures against the U.S....
Gold rose to a five-week high on Tuesday (July 22), boosted by trade uncertainty and weakening U.S. bond yields as investors continued to monitor U.S. President Donald Trump's tariff deadline on August 1. Spot gold rose 1% to $3,428.84 an ounce at 2:10 p.m. ET (18:10 GMT), reaching its highest level since June 16. U.S. gold futures rose 1.1% to $3,443.70. The yield on the benchmark 10-year U.S. Treasury note fell to a near two-week low, making non-yielding bullion more attractive. Trade uncertainty boosted demand for safe-haven assets. "The US is working on several trade deals, and there...
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...