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 nudged lower following its first weekly drop this month, with traders focused on US tariff talks and the European Union's efforts to curb Russian energy exports. West Texas Intermediate crude fell 1% to trade below $67 a barrel, after slipping 1.6% last week. EU envoys are set to meet as early as this week to formulate a plan to respond to a possible no-deal scenario with US President Donald Trump, whose position is seen to have stiffened ahead of an Aug. 1 deadline. Late last week, the 27-nation bloc agreed on a package of sanctions against Moscow,...
Gold (XAU/USD) is benefiting from renewed trade tensions on Monday, which have triggered demand for the safe-haven yellow metal. As the August 1 tariff deadline looms, prospects of a deal between the European Union (EU) and the United States (US) are fading. As a result, XAU/USD has recovered with bulls approaching the $3,400 psychological barrier at the time of writing. EU-US trade tensions rise, lifting demand for Gold Ongoing talks between the EU and the US have failed to make any meaningful progress over recent weeks. US President Donald Trump has threatened to impose a 30% tariff on...
The US Dollar (USD) kicks off the week on the back foot, slipping against major currencies in Monday trading. Investors are reacting to renewed trade tensions ahead of the August 1 deadline and a generally cautious market sentiment. Despite mostly solid US economic data lately, the Greenback is feeling the heat from ongoing uncertainty surrounding the US President Donald Trump administration's ramped-up tariff threats and increasing political pressure on the Federal Reserve (Fed) to cut interest rates. The US Dollar Index (DXY), which measures the Greenback against six major currencies, is...
Gold prices rose slightly in European trade on Monday, taking some support from haven demand fueled by persistent uncertainty over elevated U.S. tariffs set to take effect in the coming weeks. A mild pullback in the dollar, after a two-week ascent, also helped spur some gains in metal markets, although gold remained squarely in a $200 trading range seen since at least April. Spot gold ticked higher by 0.5% to $3,365.49 an ounce, while gold futures for September rose 0.4% to $3,372.88/oz by 06:23 ET (10:23 GMT). Gold gains amid murky tariff outlook Advances in gold came after the Wall...
The Pound Sterling (GBP) starts the week on a slightly positive note. The British currency ticks up as market experts have pared bets supporting a higher number of interest rate cuts by the Bank of England (BoE) for the remainder of the year. According to a report from Reuters, a number of Wall Street brokerage houses have reassessed their BoE rate cut expectations, following the release of the hotter-than-projected United Kingdom (UK) Consumer Price Index (CPI) data for June and lesser-than-expected weakness in the labor market data for the three months ending in May. Analysts at Bank of...
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...