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 USD/CHF pair moved higher near 0.9060 in the North American session on Wednesday (1/22). The Swiss franc pair recovered intraday losses and edged higher as Swiss National Bank (SNB) Chairman Martin Schlegel has opened the door to negative interest rates. Schlegel said in an interview with Bloomberg TV at the World Economic Forum (WEF) in Davos that the SNB "doesn't like negative interest rates" but if we have to do it, "we will do it." His ultra-dovish monetary policy stance is supported by the risk of inflation rising beyond the SNB's target range. Schlegel added, "We are ready to...
Gold prices edged up to an 11-week high in Asian trading on Wednesday, extending gains for a third straight session as safe-haven demand increased amid concerns about U.S. tariffs under President Donald Trump. Spot gold rose 0.2% to $2,749.29 an ounce, its highest since early November, while February gold futures rose 0.2% to $2,766.57 an ounce by 1:45 p.m. ET (06:45 GMT). The metal was set for a third straight day of gains, as traders remained cautious as they tried to gauge Trump's policies, which are expected to boost inflation. Gold is seen as a hedge against inflation. The dollar had...
Oil prices fell on Wednesday, extending the previous session's decline as markets digested U.S. President Donald Trump's declaration of a national energy emergency on his first day in office and eyed his tariff policies. Brent crude futures fell 36 cents, or 0.5%, to $78.93 a barrel by 0730 GMT. U.S. West Texas Intermediate crude futures fell 46 cents, or 0.6%, to $75.37. Crude prices closed lower on Tuesday after Trump laid out a sweeping plan to boost oil and gas production, including declaring a national energy emergency to speed up permitting, roll back environmental protections and...
The pound (GBP) weakened against the US dollar (USD) in London on Wednesday (22/1) but held on to Tuesday's gains above the key support level of 1.2300. The GBP/USD pair weakened slightly as the US dollar recovered slightly, with the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, edging higher from a two-week low of 107.90. However, the greenback could face selling pressure as its safe-haven demand has waned. The safe-haven appeal of the USD has waned as the tariff plans unveiled by the US administration of President Donald Trump were not as...
The Australian Dollar (AUD) remained weak against the US Dollar (USD) on Wednesday (1/22). The AUD/USD pair faced challenges as US President Donald Trump announced that his administration is considering imposing a 10% tariff on Chinese imports starting February 1. The move is reportedly related to concerns over fentanyl shipments from China to Mexico and Canada, according to Reuters. Trump said earlier, "If we make a TikTok deal and China doesn't agree to it, we could probably put tariffs on China." The comments followed the signing of an executive order that delayed the TikTok ban for 75...
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...