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 prices edged up on Thursday, lifted by a weaker dollar and rising uncertainty after a report showed U.S. President Donald Trump was considering replacing Federal Reserve Chairman Jerome Powell as early as September or October. The report raised concerns about the U.S. central bank's future independence, boosting demand for safe-haven bullion. Spot gold rose 0.2% to $3,339.20 per ounce, as of 0242 GMT. U.S. gold futures rose 0.3% to $3,353.10. The dollar (.DXY), however, fell to its lowest since March 2022, making dollar-priced bullion cheaper for overseas buyers. Powell told a U.S....
The Japanese Yen (JPY) remained firm against the broadly weaker US Dollar (USD) and re-approached weekly highs during the Asian session on Thursday (6/26). Investors appear convinced that the Bank of Japan (BOJ) will raise interest rates again amid signs of expanding inflation in Japan. In contrast, the Federal Reserve's (Fed) latest projections and the dot plot point to two more rate cuts before the end of the year. This marks a significant divergence from the BOJ's hawkish expectations and is seen as a key factor behind the JPY's outperformance against its American...
The dollar weakened amid rising bets on a U.S. interest-rate cut as expectations grew that the next Federal Reserve chairman would likely ease monetary policy earlier than currently anticipated. A Bloomberg greenback gauge fell to a three-year low after the Wall Street Journal reported that President Donald Trump may announce a replacement for current Chairman Jerome Powell in September or October. Traders saw the news as a signal that an early rate cut is becoming more likely, given that Trump has repeatedly pressed Powell to lower borrowing costs. "A Trump nomination would increase the...
Gold edged up in early Asian trade amid US tariff uncertainty that could support the precious metal's appeal as a safe haven. "News and noise around the trade topic will pick up again as [President] Trump's Liberation Day tariff grace period ends in early July," Julius Baer's Carsten Menke said in an email. In addition, central bank gold buying shows no signs of slowing, the head of Next Generation Research added. Spot gold rose 0.1% to $3,338.05/oz. (alg) Source: Dow Jones
Oil edged higher as President Donald Trump said his maximum pressure campaign against Iranian oil would continue, while a government report showed another big drop in U.S. crude stockpiles. West Texas Intermediate crude futures rose above $65 a barrel after rising 0.9% in the previous session. Brent settled near $68. Trump said he was "not giving up" on a strategy targeting Tehran's petrodollars, after comments that appeared to undermine the plan. The president also flagged talks with Iran next week. Oil hit its biggest two-day decline since 2022 earlier in the week after Israel and Iran...
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...