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 EUR/USD pair attracts heavy follow-through selling on Monday and dives to the 1.0200 neighborhood, or a three-week low during the early Asian session. Spot prices have now moved back closer to over a two-year low touched in January and seem vulnerable to prolonging a multi-month-old downtrend. The US Dollar (USD) surges across the board in reaction to US President Donald Trump's decision over the weekend to impose 25% duties against Canada and Mexico, and an additional 10% duty on China. This marks the start of a new global trade war and tempers investors' appetite for riskier assets....
Oil prices jumped at the market open on Monday after U.S. President Donald Trump imposes tariffs on Canada, Mexico and China, raising fears of a trade war and disruption in crude supply from two of the United States' biggest suppliers. U.S. West Texas Intermediate crude was at $74.27 a barrel, up $1.74, or 2.4%, by 2319 GMT, after hitting more than a week's high at $75.18 a barrel earlier in the session. Brent crude futures rose 73 cents, or 1%, to $76.40 a barrel. Trump on Saturday ordered sweeping tariffs on goods from Mexico, Canada and China, kicking off a trade war that could dent...
Gold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday. The yellow metal faces some pressure from the stronger Greenback after US President Donald Trump set tariffs over the weekend. On Saturday, Canada was notified that the United States will place 25% tariffs on Canada and Mexico while China will be hit with 10% tariffs. Canadian energy will be tariffed at 10%, according to CTV. The tariffs will take effect on Tuesday. Canada, Mexico and China have vowed to respond to sweeping new tariffs on their exports to the US announced by Trump. This, in...
The US Dollar Index (DXY), which tracks the US Dollar against six major currencies, is currently trading at 108.25 at the time of writing after receiving a major boost on Friday (1/31). The first boost came from US President Donald Trump, who announced the first wave of tariffs on Mexico and Canada. The Trump administration will impose 25% tariffs on about $900 billion worth of goods from Canada and Mexico, Bloomberg reported. The US President also threatened to impose 100% tariffs on BRICS countries if they try to replace the US Dollar with a new currency in international trade. The second...
Gold (XAU/USD) prices hit a new record high at the time of writing, approaching $2,581.75, which will hit intraday resistance as the US session begins. On the geopolitical front, markets were shaken by comments from US President Donald Trump confirming 25% tariffs will be imposed on Canada and Mexico, two of the US's largest trading partners, starting Saturday, and threatening to impose 100% tariffs on BRICS countries if they try to replace the US Dollar with a new currency in international trade. This should be a headwind for Bullion as it could lead to trade wars and inflation fears with...
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...