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 moved steadily on Tuesday (9/7), after reversing sharp losses in the previous session. This stability was triggered by market concerns about increasing global trade tensions after US President Donald Trump announced new tariffs of 25% on Japan and South Korea. This move encouraged investors to return to safe haven assets such as gold, although the strengthening US dollar put pressure on the price of the precious metal. What happened? Trump stated that Asian countries, including Japan and South Korea, would be subject to a 25% tariff on a number of exports to the US. Additional...
GBP/USD fell on Monday, cutting further to the lower side and adding to short-term losses as Pound bulls took a breather. Losses were contained in early week trade; however, fresh tariff threats from US President Donald Trump have dented investor risk appetite, curbing upside market flows and sparking a renewed push to avoid risk on the US Dollar. The Trump administration went into overdrive this week, delaying its self-imposed July 9 deadline to restart the broad reciprocal tariffs that were initially announced and then quickly postponed in early April. Despite another change to the "firm"...
EUR/USD fell on Monday (07/07) during the North American session amid a push to avoid risk, due to the escalating trade war, as US President Donald Trump began sending letters containing tariffs on several countries. This pushed the US dollar, hurting the common currency, which was trading at 1.1718, down 0.44%. Trump announced a 25% tariff on all Korean and Japanese products imported into the US. In addition, he imposed duties on Malaysia, Kazakhstan, Myanmar, Laos, and South Africa in the range of 25% to 40%. As the headlines broke, EUR/USD dropped to a six-day low of 1.1686. However,...
Oil rose more than 1% on Monday on signs of strong demand, shrugging off the impact of a bigger-than-expected OPEC+ output increase for August and concerns about the potential impact of U.S. tariffs. Brent crude futures rose 79 cents, or 1.2%, to $69.08 by 2:05 p.m. ET (18:05 GMT). U.S. West Texas Intermediate crude was at $67.29, up 29 cents, or 0.4%. The benchmarks had dropped to $67.22 and $65.40, respectively, earlier in the session. "The supply picture is clearly improving, however, stronger demand remains above expectations as well," Dennis Kissler, senior vice president of trading...
Gold prices posted minimal losses on Monday (07/07) as concerns about a possible resumption of trade wars mounted, following US President Donald Trump's announcement on his social media platforms of the first trade letters sent to South Korea and Japan, imposing duties on goods and products. At the time of writing, XAU/USD was trading at $3,333, down 0.06%. The trade war resumed after Trump announced a 25% tariff on all Korean and Japanese products shipped to the US, starting from August 1. US Treasury yields have risen as has the US Dollar. Gold prices have recovered but remain down as...
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...