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 USD/CHF pair hit a fresh more than a decade low near 0.8034 during the Asian trading hours on Wednesday (6/25). The Swiss Franc pair faced sharp selling pressure as the US Dollar (USD) continued to underperform against its peers following the ceasefire between Israel and Iran. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, appears vulnerable near weekly lows around 98.00. The ceasefire agreement between Israel and Iran has reduced the demand for the US Dollar as a safe-haven asset. On Monday, the US Dollar strengthened sharply after the...
Gold rose on Wednesday as the U.S. dollar and Treasury yields fell, while market participants monitored a fragile ceasefire between Israel and Iran. Spot gold was up 0.2% at $3,328.89 an ounce, as of 0250 GMT, after hitting a more than two-week low on Tuesday. U.S. gold futures rose 0.3% to $3,343.00. The dollar index (.DXY), opens new tab , hovered near a one-week low, making bullion more attractive to holders of other currencies. The benchmark 10-year Treasury yield remained near a more than one-month low. "Technical selling in the U.S. dollar and weaker U.S. Treasury yields have...
Silver (XAG/USD) prices posted modest gains near $35.95 during the Asian session on Wednesday (6/25). A weaker US Dollar (USD) provided some support to the USD-denominated commodity prices. Traders are gearing up for Federal Reserve (Fed) Chairman Jerome Powell's testimony later on Wednesday. US consumer confidence fell again in June amid uncertainty over US President Donald Trump's trade policies. Data released by the Conference Board on Tuesday showed that the US Consumer Confidence Index fell to 93 in June, below market consensus. The downbeat US economic data dragged the US Dollar lower...
GBP/USD extended its gains for the third straight session, trading around 1.3620 during Asian hours on Wednesday (6/25). The pair was hovering around 1.3648, the highest since February 2022, recorded on Tuesday. The risk-sensitive GBP/USD pair received support from improving risk appetite amid easing tensions in the Middle East. US President Donald Trump announced that a ceasefire between Iran and Israel was in effect on Tuesday, raising hopes for an end to the 12-day conflict. However, caution remains amid uncertainty over the sustainability of the truce. Traders are likely to focus on a...
Oil prices edged up on Wednesday, finding some relief after falling in the past two sessions, as investors assessed the stability of a ceasefire between Iran and Israel. Brent crude rose 75 cents, or 1.1%, to settle at $67.89 a barrel. U.S. West Texas Intermediate (WTI) crude rose 71 cents, or 1.1%, to settle at $65.08. Brent closed on Tuesday at its lowest since June 10 and WTI since June 5, both before Israel launched a surprise attack on Iran's main military and nuclear facilities on June 13. Prices had risen to a five-month high after the U.S. struck Iranian nuclear facilities over...
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...