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 British pound edged higher toward $1.37, partially recovering from Wednesday's decline, as markets reacted positively to Prime Minister Keir Starmer's strong backing of Chancellor Rachel Reeves. Starmer defended Reeves amid speculation about her future, attributing her emotional moment to a "personal matter" and affirming she would remain chancellor "for a very long time to come." His remarks helped ease investor concerns that a potential replacement might be less committed to fiscal discipline and more inclined toward increased borrowing. Meanwhile, traders also digested comments from...
Silver price revisits two-week high near $36.80 during European trading hours on Thursday. The white metal trades firmly ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT. The US official employment data will significantly influence market expectations for the Federal Reserve's (Fed) monetary policy outlook as officials have lately warned of downside labor market risks. Economists expect US employers to have added 110K fresh workers, fewer than 139K in May. The Unemployment Rate is estimated to have accelerated to 4.3% from the prior...
Gold prices were little changed on Thursday as investors held back from making significant bets, awaiting U.S. payroll data later in the day for insight into the Federal Reserve's policy direction. Spot gold held steady at $3,357.96 per ounce as of 0601 GMT, while U.S. gold futures edged up 0.2% to $3,369.10. Gold appears to be consolidating at present within the $3,320 to $3,360 range, with the market adopting a wait-and-see approach rather than taking significant positions ahead of U.S. non-farm payroll and ISM Services PMI data, OANDA senior market analyst Kelvin Wong said. Data...
The trading action in financial markets turns subdued early Thursday as investors gear up for the key June employment report from the US, which will feature Unemployment Rate, Nonfarm Payrolls and wage inflation figures. The US economic calendar will also offer weekly Jobless Claims data and the Institute for Supply Management's (ISM) Services Purchasing Managers' Index (PMI) report for June. After starting the day on a bullish note on Wednesday, the US Dollar (USD) lost its recovery momentum in the American session to end the day with small gains. The data published by Automatic Data...
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, remains on the defensive near 96.70 during the early Asian session on Thursday. All eyes will be on the release of highly-anticipated US Nonfarm Payrolls (NFP) data for June, which is due later on Thursday. The Greenback edges lower after the ADP National Employment Report showed US private payrolls fell for the first time in more than two years in June. US private-sector payrolls decreased 33,000 in June after a downwardly revised 29,000 gain in May. This figure came...
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...