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...
The Japanese yen slipped past 147 per dollar on Wednesday, marking its third consecutive session of losses as trade negotiations between the US and Japan showed signs of strain, particularly over Japan's rice market protections. The decline followed US President Donald Trump's announcement of a 25% tariff on Japanese goods, set to take effect on August 1. Trump emphasized that there would be no revisions or delays to the newly imposed tariffs, which target 14 countries in total. Japanese Prime Minister Shigeru Ishiba called the latest measures "truly regrettable," but affirmed Japan's...
The Australian Dollar (AUD) remains steady against the US Dollar (USD) on Wednesday after registering more than 0.50% gains in the previous session. The AUD/USD pair moves little following the release of the Consumer Price Index (CPI) data from China, Australia's close trading partner. China's Consumer Price Index climbed 0.1% year-over-year in June after declining 0.1% in May. The market consensus was 0% in the reported period. Meanwhile, the monthly CPI decreased by 0.1% against the expected 0% reading. Moreover, Producer Price Index (PPI) fell 3.6% YoY in June, following a 3.3% decline...
The dollar rose for a third day against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners. The greenback advanced against major peers on Tuesday after Trump began telling trade counterparts that sharply higher U.S. tariffs will start on August 1, but he later said he was open to extensions if countries made proposals. Trump said on social media that there would be announcements on Wednesday regarding "a minimum of 7 countries having to do with trade," without specifying whether he...
Gold edges lower in the early morning Asian session, weighed by higher Treasury yields. "Stronger-than-expected U.S. labor data last week dampened expectations for a near-term rate cut from the Fed," Traze's Erkin Kamran says in an email. The 10-year Treasury yield remains elevated, boosting the opportunity cost of holding nonyielding assets like gold, Kamran says. Meanwhile, market participants could stay cautious ahead of FOMC minutes due out later today, Kamran adds. Spot gold is 0.1% lower at $3,297.76/oz. Source: Dow Jones Newswires
Oil steadied as traders weighed signs of swelling US crude stockpiles and the fallout from President Donald Trump's tariff regime. West Texas Intermediate held near $68 a barrel after a two-day gain. Brent closed above $70 on Tuesday. US inventories rose by 7.1 million barrels last week, according to the American Petroleum Institute. That would be the largest increase since January if confirmed by government data on Wednesday. Investors continue to monitor US trade policy and any impact on demand, with Trump vowing to push ahead with his tariff agenda in coming...
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...