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 yen was the currency market's leading currency on Friday(24/1) ahead of a Bank of Japan policy decision that will almost certainly raise interest rates, while the dollar headed for its worst week in two months. The BOJ ends its two-day policy meeting later in the day and markets have widely priced in a 25 basis point rate hike, with recent comments from BOJ officials also hinting at such a move. Ahead of the decision, the yen was little changed at 156.11 per dollar, near a one-week low hit in the previous session. The Japanese currency surged last week on rising expectations for a...
Oil headed for the first weekly decline this year after Donald Trump raised the prospect of trade wars and said he will ask Saudi Arabia and OPEC to lower prices in his first few days as the new US president. West Texas Intermediate fell toward $74 a barrel, and is down almost 5% this week, while Brent closed near $78. Trump's first week in the White House began with tariff threats on Canada, Mexico and China, followed by a pledge that he would ask the producer group to "bring down the cost of oil." That's helped put futures on track for the biggest weekly loss since...
Gold is steady in the early Asian session, underpinned by U.S. President Trump's call for lower interest rates that would bolster the allure of the non-interest-bearing precious metal. Trump said Thursday that he would like to see rates "come down a lot" and implied that steps to keep a lid on price pressures were an important precursor to lower rates. Also, gold could remain well supported by several factors including expectations of continued institutional demand, says Ramy Zeytouni, market analyst at Ramy Zeytouni LLC, in an email. Spot gold is little changed at...
EUR/USD flatlined, cycling near the 1.0400 handle as investors grind through a largely unremarkable week despite a strong start on Monday. A lack of meaningful economic docket data isn't doing already-tepid markets any favors, and political headlines are driving most of what little trading volume exists. President Donald Trump lashed out about a wide variety of topics during his appearance at the WEF's annual gathering in Switzerland, colloquially referred to as Davos, the city that hosts the forum every year. President Trump reminded everyone listening that he intended to "obliterate" the...
Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum.Uncertainty over how Trump's proposed tariffs and energy policies would affect global economic growth and energy demand also weighed on prices.Brent crude futures settled 71 cents, or 0.9%, lower at $78.29 a barrel. U.S. West Texas Intermediate crude (WTI) settled down 82 cents, or 1.09%, to $74.62.Prices dipped after Trump announced he would ask Saudi Arabia and OPEC to bring down the cost of oil during his speech at the World Economic...
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...