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...
Oil prices fell slightly on Thursday as investors worried that U.S. tariffs could slow energy demand ahead of expected supply increases by major crude producers. Brent crude futures settled 31 cents, or 0.45%, lower at $68.80 a barrel. U.S. West Texas Intermediate crude fell 45 cents, or 0.67%, to $67 in thin trading ahead of the Independence Day holiday. President Donald Trump's 90-day pause on higher U.S. tariffs expired on July 9, and several major trading partners have yet to reach a trade deal, including the European Union and Japan. Oil traders are concerned about the impact on the...
Gold prices fell 0.80% on Thursday (03/07) as a strong US Nonfarm Payrolls report strengthened the US Dollar, leading market participants to believe that the Fed is unlikely to cut interest rates at its July meeting. At the time of writing, XAU/USD was trading at $3,332, having hit an intraday high of $3,365. The US June jobs report beat estimates and also surpassed May's reading. It is worth noting that the Unemployment Rate fell close to the 4% threshold, indicating that the labor market remains solid. The data called into question Wednesday's ADP National Employment Change report, which...
Gold fell 1% on Thursday as stronger-than-expected U.S. payrolls data reinforced expectations that the Federal Reserve is unlikely to cut interest rates as quickly as previously anticipated, denting the metal's appeal. Spot gold fell 1% to $3,323.49 an ounce by 11:02 a.m. EDT (1502 GMT), while U.S. gold futures fell 0.8% to $3,333. The dollar (.DXY), opens a new tab and U.S. stock index futures rose after nonfarm payrolls increased by 147,000 jobs last month, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast payrolls rising by 110,000. A...
Oil prices fell slightly on Thursday as the possibility of renewed U.S. tariffs raised questions about demand ahead of expected supply increases by major producers. Brent crude futures fell 63 cents, or 0.91%, to settle at $68.48 a barrel by 11:12 a.m. EDT (1512 GMT). U.S. West Texas Intermediate crude fell 77 cents, or 1.14%, to settle at $66.68. Both contracts hit one-week highs on Wednesday as Iran, a major oil producer, suspended cooperation with the U.N. nuclear watchdog, raising concerns that a lingering dispute over its nuclear program could escalate into armed conflict. A...
The campaign period for the July 20 election for the upper chamber of Japan's parliament kicked off earlier Thursday, and Bank of America Securities stated that the Japanese currency has not yet priced in election risk. At 08:00 ET (12:00 GMT), USD/JPY traded 0.1% higher to ¥143.84, but the pair is approximately 8.5% lower so far this year. "We have argued that the risk from Japan's Upper House election to be held on July 20 is skewed to a weaker yen with a rise in volatility in the case of a loss by the ruling coalition party," said analysts at Bank of America Securities, in a note dated...
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...