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 (XAU/USD) holds steady on Thursday, moving quietly within the $4,160-$4,260 range as investors adopt a wait-and-see approach ahead of the Federal Reserve's (Fed) monetary policy meeting next week. At the time of writing, XAU/USD is trading around $4,200, with the cautious market backdrop keeping the metal in a consolidative phase after it climbed to a six-week high earlier this week. Markets largely expect the Fed to lower interest rates at the December 9-10 meeting. That conviction firmed after Tuesday's US economic data showed a surprise decline in ADP Employment Change,...
The U.S. dollar steadied Thursday, but remains weak after recent lackluster economic data largely cemented the case for a rate cut from the Federal Reserve next week. The Dollar Index, which tracks the greenback against a basket of six other currencies, traded largely unchanged at 98.805, near a five-week low and almost 9% lower so far this year. Fed meeting looms largeWeak U.S. economic data has bolstered expectations for a Fed rate cut next week, weighing heavily on the U.S. currency. "After yesterday's 32k drop in ADP payrolls, a Fed cut next week looks even closer to a certainty,"...
Oil prices firmed on Thursday after Ukrainian attacks on Russia's oil infrastructure signalled potential supply constraints, and stalled peace talks tempered expectations of a deal restoring Russian oil flows to global markets, though weak fundamentals kept gains limited. Brent crude rose 41 cents, or 0.65%, to $63.08 at 0659 GMT, while U.S. West Texas Intermediate rose 45 cents, or 0.76%, to $59.40. Ukraine hit the Druzhba oil pipeline in Russia's central Tambov region, a Ukrainian military intelligence source said on Wednesday, the fifth attack on the pipeline that sends Russian oil to...
Silver prices corrected after hitting a new record high. In Asian trading (Singapore), silver fell as much as 2.4% to around $57.09 per ounce, before settling around $57.43. Despite the correction, the price remains less than $2 from its previous record of $58.97. This correction occurred due to profit-taking by traders following the sharp rally in recent days, as well as a slight strengthening of the US dollar index of around 0.1%, making the precious metal slightly more expensive for non-dollar buyers. In terms of the broader trend, silver is actually still in a very strong upward phase....
Gold prices fell suddenly during the Asian trading session on Thursday (December 4), after previously holding firm above the $4,200 per troy ounce area. This movement reflected a brief correction rather than a major trend change, as gold was still trading within that upper range. Market participants took advantage of the sharp rally in recent days to secure short-term profits. The main selling pressure came from profit-taking after gold approached new highs around $4,240–$4,250 and failed to break through. Amid relatively thin liquidity during the Asian session, this modest selling was...
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...