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...
Oil prices rose as U.S.-Russia talks have so far failed to reach a deal to end Moscow's war in Ukraine, raising concerns that Russian oil supply curbs could continue for longer. West Texas Intermediate crude oil prices traded near $59, up 1.7%, while remaining within the tight range prices have maintained for the past several sessions. The Kremlin said President Vladimir Putin held "very fruitful" talks with U.S. envoys Steve Witkoff and Jared Kushner, although no compromise was reached on the crucial issue of territorial control. The talks come amid recent attacks on tankers linked to...
Gold (XAU/USD) strengthened as traders reacted to the release of the latest US economic data. At the time of writing, XAU/USD was trading around $4,225, slightly higher after briefly dipping below the psychological $4,200 level the previous day. Recent US data showed a mixed picture of underlying economic momentum. The ISM Services PMI edged up to 52.6 in November from 52.4, beating expectations of 52.1 and signaling steady expansion. Meanwhile, the ADP Employment Change report showed private sector payrolls fell by 32,000 in November, well below the 5,000 increase expected. October's...
Silver traded near a record high after US payrolls data reinforced speculation that the Federal Reserve will cut interest rates at its final policy meeting in 2025. Gold continued to rally. US companies cut payrolls in November, the most since early 2023, according to ADP Research data released Wednesday, adding to concerns about a more pronounced weakening in the labor market. Bond yields and the dollar weakened, helping silver recover from a 1.6% decline. Swap traders continue to expect a quarter-point rate cut at the Fed's December 9-10 meeting. Precious metals, including silver and...
Gold (XAU/USD) firms as traders react to the latest ADP Employment Change report. At the time of writing, XAU/USD is trading around $4,220, with attention now shifting to the ISM Services Purchasing Managers Index due later in the day. ADP came in noticeably weaker than expected, showing a 32K decline in November. Markets had expected a 5K increase, while October recorded a 47K gain. The private employment data underscored weakening labour conditions in the US. The report also holds significance as October's Nonfarm Payrolls (NFP) will be published together with the November report on...
Gold (XAU/USD) hangs near the lower end of the daily range during the first half of the European session on Wednesday, though it manages to hold above the $4,200 mark amid mixed cues. A generally positive tone around the equity markets is seen as a key factor acting as a headwind for the safe-haven precious metal. Furthermore, bulls opt to wait for important US macro releases for more cues about the Federal Reserve's (Fed) rate-cut path and placing fresh bets around the non-yielding yellow metal. In the meantime, firming expectations that the US central bank will lower borrowing costs at...
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...