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...
Silver prices held firm above $36.80 per ounce on Friday, approaching 13-year highs as renewed global trade tensions bolstered demand for safe-haven assets. Investors remained on edge after President Donald Trump announced plans to begin sending letters outlining new trade tariffs or potential deadline extensions as early as Friday, fueling uncertainty in global markets. Adding to market anxiety, the US House of Representatives passed Trump's sweeping tax cuts and spending bill, which now heads to the White House for his signature. The legislation is expected to widen the federal budget...
Markets stay relatively quiet early Friday and the US Dollar (USD) Index retreats after posting gains for two consecutive days. May Producer Price Index (PPI) for the Eurozone will be the only data featured in the European economic calendar. Financial markets in the US will remain closed in observance of the July 4 holiday, paving the way for subdued action heading into the weekend. The data published by the US Bureau of Labor Statistics showed on Thursday that Nonfarm Payrolls (NFP) in the US rose by 147,000 in June. This reading came in better than the market expectation for an increase...
Gold edged up to around $3,330 per ounce on Friday, heading for a weekly advance as concerns over the US fiscal deficit and lingering tariff uncertainty boosted the metal's safe-haven appeal. On Thursday, the House approved President Donald Trump's massive package of tax and spending cuts, which is expected to add more than $3 trillion to the country's deficit over the next decade. Meanwhile, Trump said he would begin sending letters to countries on Friday specifying what tariff rates they will face on imports to the US—a clear shift from earlier pledges to negotiate individual...
Gold edges higher in the early Asian session amid U.S. fiscal-deficit concerns that typically enhance the safe-haven appeal of the precious metal. The House of Representatives narrowly passed President Trump's "big, beautiful" tax and spending megabill on Thursday. "After factoring in the additional revenues from new tariffs, it appears that the budget deficit will remain close to 6% of GDP for the next few years," Capital Economics' Paul Ashworth says in a commentary. "The Federal debt is undoubtedly on an unsustainable path," the chief North America economist adds. Spot gold is 0.2%...
The euro weakened against the US dollar on Thursday following the release of June employment figures in the United States (US), which showed why the Federal Reserve (Fed) is not ready to ease borrowing costs. At the time of writing, EUR/USD was trading at 1.1744, down 0.45%. The Nonfarm Payrolls (NFP) report took center stage on Thursday, as it dropped in the shortened week for the US Independence Day. The data dashed investor expectations for a rate cut, beating estimates and May's figures. Additional metrics showed that the Unemployment Rate fell and Average Hourly Earnings held...
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...