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...
Further sideways trading seems likely, perhaps within a range of 0.6240/0.6295. In the longer term, the current price action is likely to be the early stages of a recovery phase that could potentially reach 0.6350, noted UOB Group FX analysts Quek Ser Leang and Lee Sue Ann. "Yesterday, we expected the AUD to ‘trade sideways between 0.6220 and 0.6290.' The AUD subsequently traded within a narrower range of 0.6253/0.6293. The AUD closed largely unchanged at 0.6274 (+0.02%). Further sideways trading seems likely today, perhaps within a range of 0.6240/0.6295." "We revised our AUD view to...
Silver moved lower on Thursday (1/23) and for now, seems to have snapped a three-day winning streak to its highest level since December 13, around the $31.00 area touched the previous day. The white metal maintained its negative bias through the first half of the European session on Thursday and is currently trading around the $30.55 zone, down over 0.85% for the day. From a technical perspective, the $31.00 level is a confluence hurdle – comprising of the 100-day Simple Moving Average (SMA) and the upper end of a multi-month-old descending channel. The aforementioned barrier should now act...
The USD/CHF pair struggled to capitalize on the previous day's modest bounce from the 0.9035-0.9030 region, or above two-week lows and oscillated in a narrow range during the Asian session on Thursday (23/1). The spot price is currently trading around the 0.9060 region, nearly unchanged for the day amid a subdued US Dollar (USD) price action. The USD Index (DXY), which tracks the greenback against a basket of currencies, struggled to capitalize on the overnight bounce from monthly lows amid bets that the Federal Reserve (Fed) will cut interest rates twice this year. That said, a pickup in...
Gold (XAU/USD) prices attracted some sellers during the Asian session on Thursday (23/1) and for now, seems to have snapped three consecutive days of gains to the highest levels since early November, around the $2,763-$2,764 region touched the previous day. The US Dollar (USD) seems to extend its overnight recovery from monthly troughs amid a further recovery in the US Treasury bond yields. This, along with the underlying bullish sentiment around the equity markets, turned out to be the key factors weighing on the safe-haven demand for the precious metal. Meanwhile, signs of easing...
The Australian dollar (AUD) held steady against the US dollar (USD) on Thursday (23/1), as market concerns eased following news that China-specific tariffs proposed under US President Donald Trump's revised plan were much smaller than previously expected. The development helped calm investor nerves, especially given the strong trade ties between China and Australia, which make the Australian market sensitive to changes in China's economic landscape. President Trump announced plans to impose 10% tariffs on Chinese imports from February 1, citing concerns over fentanyl shipments from China to...
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...