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...
GBP/USD extends its losing streak, trading around 1.3580 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground amid increased risk aversion. On Tuesday, US President Donald Trump told reporters at a White House cabinet meeting to impose a 50% tariff on Copper imports but he did not say when the tariff would take effect, per Reuters. President Trump expressed his intention to strengthen domestic Copper production and reduce dependence on foreign supplies, as the US currently imports nearly half of its metal, primarily from Chile. The new tariff aligns...
Silver price (XAG/USD) falls to near $36.50 during Asian trading hours on Wednesday. The white metal faces a slight selling pressure even as the White House has signaled that it will release more letters, specifying additional import rates, to those nations that have not closed a trade deal during the 90-day tariff pause. United States (US) Commerce Secretary Howard Lutnick said in an interview with CNBC on Tuesday that more than 15 countries will receive letters in a couple of days. "I expect 15-20 trade letters to go out over the next 2 days," Lutnick said. On Tuesday, US President...
The EUR/USD pair tumbles to near 1.1705 during the Asian trading hours on Wednesday. The Euro (EUR) weakens against the Greenback as renewed tariff threats from US President Donald Trump unsettle markets. Traders await the FOMC Minutes, which will be released later on Wednesday. Trump broadened his global trade war by threatening a 50% tariff on copper imports and signaled that he might impose levies on semiconductors and pharmaceuticals. Trump noted on Tuesday that trade talks have been going well with the European Union (EU) and China, though he added he is only days away from sending a...
Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan...
Oil prices edged lower from a two-week high in Asian trading on Wednesday after industry data showed a sharp increase in U.S. crude inventories, while investors remained cautious awaiting more trade tariff announcements by President Donald Trump. As of 21:44 ET (01:44 GMT), Brent Oil Futures expiring in September fell 0.3% to $69.91 per barrel, while West Texas Intermediate (WTI) crude futures slipped 0.4% to $68.10 per barrel. Both contracts climbed to a two-week high on Tuesday, driven by supply disruption concerns from fresh Houthi attacks on Red Sea shipping lanes. A Reuters report on...
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...