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 edged up, supported by a dip in the dollar, as US trade talks progressed ahead of a July 9 deadline and Senate negotiations continued over President Donald Trump's $4.5 trillion tax cut package. Bullion fell as much as 0.8% on Monday before paring losses to trade slightly higher, following two consecutive weekly declines. With just 10 days to go until Trump's country-specific tariffs are set to resume, investors were weighing signs of potential trade progress following recent comments from top White House advisers that indicated the US is nearing agreements with...
The Australian dollar edged higher to around $0.653 on Monday, supported by continued weakness in the greenback amid a dovish Federal Reserve and growing fiscal concerns. Investors are closely watching upcoming US jobs data, which could shape expectations for a rate cut in July. Adding to pressure on the greenback is the investor anxiety over a sweeping tax and spending bill currently under consideration in the Senate, which could add $3.3 trillion to the national debt. Domestically, the Melbourne Institute's Monthly Inflation Gauge showed a modest uptick in June, reversing the previous...
The Japanese yen strengthened toward 144 per dollar on Monday, approaching two-week highs as the US dollar extended its decline amid a more dovish Federal Reserve outlook, mounting fiscal concerns, and persistent trade uncertainty. Markets are bracing for key US jobs data this week, which could reveal signs of labor market softness and bolster expectations for a Fed rate cut in July. Domestically, Japanese industrial production rose less than expected in May, as elevated US tariffs continued to weigh on the outlook. The 25% tariff on Japanese car imports remains a major sticking point in...
The US dollar index hovered around 97.2 on Monday, lingering at its lowest level since February 2022, as markets grappled with a more dovish Federal Reserve outlook, mounting fiscal concerns, and ongoing trade uncertainty. Investors are awaiting key US employment data this week, which could reveal signs of softening in the labor market and strengthen the case for a rate cut as early as July. While the Fed has previously cited labor market resilience as a reason to remain patient, a weak June jobs report could prompt policymakers to act sooner. Meanwhile, focus remains on the sweeping tax...
Gold edged lower after two consecutive weekly declines, with demand impeded by a risk-on mood as the White House aims to finalize trade deals with several nations ahead of a July 9 deadline. Bullion fell as much as 0.8% in early Asian trading before paring some losses, as investors weighed progress on the trade front. The European Union and the US believe they can clinch some form of trade agreement in time, Bloomberg News reported Friday, while talks with India, Japan and many others continue. Bloomberg News has also reported that the US is nearing...
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...