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 US Dollar (USD) continues to face selling pressure, with the US Dollar Index (DXY) dropping as low as 96.38, its weakest level since February 2022, during early trading on Tuesday (01/07). However, the greenback rallied during the American session, with the DXY last seen trading around 96.85, supported by better-than-expected US economic data. A stronger ISM Manufacturing PMI and a strong JOLTS jobs report helped ease some of the bearish momentum, although the overall sentiment remains cautious amid ongoing concerns over US fiscal stability, tariff uncertainty, and increasing political...
The EUR/USD pair keeps marching higher for the tenth consecutive day. The pair is trading with minor gains around the 1.1800 level at the moment of writing on Tuesday, ahead of the Fed Chairman's speech on the central bankers' meeting in Sintra, Portugal and US Manufacturing and Job Openings figures. The common currency appreciated earlier today, fuelled by an unexpected improvement in the Eurozone preliminary HCOB Manufacturing PMI and better-than-expected German Unemployment figures, while June's Consumer Prices Index (CPI) remained fairly steady. The Greenback remains on the defensive,...
The Pound is accelerating its uptrend on Tuesday, unaffected by rather downbeat UK manufacturing PMI data. US Dollar weakness is driving markets today with tariff uncertainty, renewed concerns about the US fiscal health, and rising bets on Fed cuts crushing demand for the US Dollar. UK manufacturing activity has remained steady at 47.7 in June, but new orders, employmen,t and output declined from the previous month and pointing to further contraction in the coming months. US debt, hopes of Fed cuts are hammering the USDThese figures, however, have failed to curb Sterling's rally. The...
Oil prices were steady on Tuesday as investors assessed expectations that OPEC+ will announce an output hike for August at an upcoming meeting as well as trade negotiations. Brent crude was up 5 cents to $66.79 a barrel at 0901 GMT, while U.S. West Texas Intermediate crude was up 4 cents to $65.15 a barrel. The market's main focus is the 411,000-barrel-per-day production hike that OPEC+ is expected to announce for August in a meeting on July 6, said Saxo Bank analyst Ole Hansen, adding that this was partially offset by potential trade deals improving the demand outlook. "The market is now...
The US Dollar Index (DXY) fell sharply below the 96.00 level on Tuesday, recording a decline for seven consecutive days and hitting its lowest level in 3.5 years. This weakening occurred after Eurozone economic data showed positive results, especially from the manufacturing sector and inflation, which immediately boosted the Euro against the Dollar. The US Dollar is currently burdened by a combination of factors: fiscal uncertainty due to Trump's controversial Tax Bill, new trade tensions with Japan, and expectations that the Fed will soon cut interest rates. Market concerns increased after...
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...