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 prices rose on Friday (July 18th), but were on track for a weekly decline as concerns about the US Federal Reserve's independence eased and strong US data emerged, while platinum rose to a nearly 11-year high. Spot gold rose 0.3% to $3,349.49 an ounce, as of 08:34 GMT, after falling 1.1% in the previous session. Bullion has fallen 0.2% so far this week. US gold futures fell 0.3% to $3,354.70. The US dollar, open a new tab, fell 0.4% for the day, but was headed for a second straight weekly gain. A stronger dollar tends to make gold more expensive for buyers holding other...
The dollar headed for a second straight weekly gain against major peers, buoyed by some solid U.S. economic data that supported the view the Federal Reserve can afford to wait a while longer before cutting interest rates again. The yen remained on the back foot heading into upper house elections on Sunday in Japan, with polls suggesting the ruling coalition is at risk of losing its majority - a development that would stir policy uncertainty and complicate tariff negotiations with the U.S. Bitcoin hovered just above $120,000, after this week pushing to an all-time peak of $123,153.22, with...
Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce, heading for a 0.5% drop on the week. That came after data that showed applications for unemployment benefits fell for a fifth straight week to the lowest level since mid-April, and advancing retail sales in June. San Francisco Fed President Mary Daly said it's reasonable for policymakers to plan on two interest-rate cuts this year, emphasizing that the central bank...
The USD/CHF pair tumbles to around 0.8030 during the early European session on Friday. Persistent trade tensions and Federal Reserve (Fed) policy uncertainty boost the safe-haven demand, supporting the Swiss Franc (CHF). The preliminary reading of the University of Michigan Consumer Sentiment will be the highlight later on Friday. Also, the US Building Permits and Housing Starts will be released. Concerns over the economic impact of US President Donald Trump's tariff policies, the US fiscal and debt outlook, and the Fed's independence provide some support to the safe-haven assets like the...
Oil headed for a back-to-back daily gain after US data showed the world's largest economy holding up despite the fallout from the Washington-led trade war, while market metrics pointed to near-term tightness. Global benchmark Brent rose toward $70 a barrel after adding more than 1% in the previous session, while West Texas Intermediate was near $68. In wider markets, strong US data eased concerns about the economy, helping to underpin a risk-on mood and global equity rally. Asian stocks advanced. Crude futures, as well as those for gasoil, remain in backwardation in the nearer months 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...