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 rose to a five-week high on Tuesday (July 22nd), driven by trade uncertainty and weakening US bond yields as investors continued to monitor US President Donald Trump's tariff deadline on August 1st. Spot gold prices rose 1% to $3,427.59 an ounce at 16:22 GMT, reaching their highest level since June 16th. US gold futures rose 1.2% to $3,442.50. The yield on the benchmark 10-year US Treasury note fell to a nearly two-week low, making non-yielding bullion more attractive. "Trade uncertainty is driving demand for safe-haven assets. The US is working on several trade deals, and there are...
The dollar weakened on Tuesday (July 22), with the yen among the currencies gaining ground against the greenback, as investors monitored negotiations ahead of an August 1 deadline that could impose steep tariffs on products from U.S. trading partners that fail to reach an agreement. Trading was largely subdued, with the Japanese currency strengthening for a second straight session following the widely expected outcome of the weekend's upper house elections in Japan. Focus has shifted to how quickly Tokyo can reach a trade deal with Washington and to Prime Minister Shigeru Ishiba's future as...
Gold climbed to a five-week high on Tuesday, drawing strength from trade uncertainty and weaker U.S. bond yields as investors continue to eye U.S. President Donald Trump's August 1 tariff deadline. Spot gold rose 0.6% to $3,415.61 per ounce by 1414 GMT, hitting its highest since June 16. U.S. gold futures were up 0.6% at $3,428.10. The yield on benchmark U.S. 10-year notes fell to a near two-week low, making non-yielding bullion more attractive. "Trade uncertainty is prompting some safe haven demand. The U.S. has got several trade deals in the works and there's rumors that the EU and the...
The Pound Sterling (GBP) demonstrates stability against its major peers on Tuesday, with investors awaiting preliminary United Kingdom (UK) S&P Global Purchasing Managers' Index (PMI) data for July, scheduled for release on Thursday. Investors will closely monitor the UK PMI data to get cues about whether the impact of a hiring slowdown has started flowing into the economy. The report is expected to show that the overall business activity grew moderately. The Composite PMI is expected to have dropped slightly to 51.9 from 52.0 in June. UK employers have restricted fresh hiring to...
The EUR/USD pair is posting marginal gains ahead of the US Session opening on Tuesday as the US Dollar retreats further with trade uncertainty growing. Meanwhile, a rather positive Lending survey from the European Central Bank (ECB), released earlier on the day, has provided additional support to the common currency. The Euro (EUR) has turned positive on the daily chart and returned above the 1.1700 level. The pair remains above Friday's high, at 1.1675, and also above the top of a bearish channel from July 1 highs, which suggests that further appreciation is likely. The ECB's survey...
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...