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 fluctuates near 1.3600 as markets grapple with inconsistent policy messages regarding President Donald Trump's erratic tariff policies. The reciprocal tariffs announced and immediately postponed in early April have been pushed back from July 9 to August 1, and within 24 hours, President Trump announced that further delays or suspensions of the tariffs could and should not be expected. Adding further fuel to the tariff fire, President Trump announced a new 50% tariff on all copper imports into the US, which he confirmed would take effect "today" on Tuesday. Trump also reiterated...
EUR/USD posted modest gains during the North American session as the US dollar erased some of its earlier gains, following US President Donald Trump's demand for the Federal Reserve to cut interest rates, as he pushed back the July 9 deadline to August 1. At the time of writing, the pair was trading at 1.1724, up 0.14%. Risk appetite soured late in the day, amid uncertainty over trade policy. US Commerce Secretary Howard Lutnick said he expected 15-20 more letters to be sent in the next few days, according to an interview with CNBC. Meanwhile, Trump's threat to expand tariffs on...
Brent crude rose 0.8% to settle at $70.1 a barrel on Tuesday, hitting a two-week high, as investors weighed the impact of new U.S. tariffs and a larger-than-expected OPEC+ output increase in August. President Trump's announcement of tariffs on 14 countries raised concerns about global economic growth and oil demand, although tightening production of middle distillates and ongoing Houthi attacks on cargo ships provided support to prices. OPEC+ agreed on Saturday to raise output by 548,000 barrels per day in August, a fourth straight monthly increase and larger than analysts had...
Gold prices fell more than 1% on Tuesday, as optimism over a trade deal between the U.S. and its trading partners weighed on safe-haven flows, with a stronger U.S. dollar and rising Treasury yields adding further pressure. Spot gold fell 0.8% to $3,307.16 an ounce, as of 1:49 p.m. EDT (1749 GMT), after hitting its lowest in more than a week earlier in the session. U.S. gold futures settled 0.8% lower at $3,316.9. The benchmark 10-year Treasury yield hit its highest in more than two weeks, making non-yielding bullion less attractive, while the dollar, opens new tab , edged up 0.1%. Asia's...
Oil prices held near two-week highs on Tuesday as investors assessed the latest developments in U.S. tariffs and a bigger-than-expected increase in OPEC+ output for August. Brent crude futures rose 29 cents, or 0.4%, to $69.87 a barrel by 11:07 a.m. EDT (1507 GMT), while U.S. West Texas Intermediate (WTI) crude rose 11 cents, or 0.2%, to $68.04. That put both benchmarks on track for their highest closes since June 23 for a second straight day. Major Asian economies Japan and South Korea said on Tuesday they would try to negotiate with the U.S. to soften the impact of much higher tariffs...
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...