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...
Gold prices fell on Monday as U.S. Treasury yields rose, while the Federal Reserve's recent hint at a slower pace of rate cuts in 2025 kept investors keenly awaiting a slew of economic data due this week to shed more light on that view. Spot gold fell 0.3% to $2,632.47 per ounce by 9:55 a.m. ET (1455 GMT). U.S. gold futures were down 0.4% at $2,644.50. "Bond yields are back up again, placing pressure on gold," said Nitesh Shah, commodity strategist at WisdomTree. Yield on the 10-year U.S. Treasury Note rose to an over one-week high, making non-yielding gold less attractive. "We...
The US Dollar Index (DXY), which tracks the greenback against a basket of currencies, fell for the second straight day on Monday and continued to slide from its highest level since November 2022 reached last week. The index maintained its negative bias through the first half of the European session and is currently hovering around the 108.70-108.65 area, down 0.25% for the day, although the fundamental backdrop warrants caution for bearish traders. The US ISM Manufacturing PMI improved from 48.4 to 49.3 in December, showing signs of economic resilience and growth potential amid optimism...
Oil prices fell on Monday amid a stronger U.S. dollar ahead of key economic data by the U.S. Federal Reserve and U.S. payrolls data later in the week. Brent crude futures were down 28 cents, or 0.4%, at $76.23 a barrel by 0800 GMT after closing at their highest since Oct. 14 on Friday. U.S. West Texas Intermediate crude futures were down 27 cents, or 0.4%, at $73.69 a barrel after closing at their highest since Oct. 11 on Friday. Crude prices posted gains in the previous five sessions on hopes of improved demand following cold weather in the Northern Hemisphere and more fiscal stimulus by...
Gold (XAU/USD) prices attracted some follow-through sellers at the start of a new week and retreated further from near three-week highs, around the $2,665 region touched on Friday. Prospects for a slower pace of interest rate cuts by the Federal Reserve (Fed) in 2025 remained supportive of the uptick in the US Treasury bond yields and turned out to be a key factor undermining the non-yielding yellow metal. Additionally, a positive risk tone exerted additional pressure on the safe-haven commodity and contributed to its offered tone for the second consecutive day. Meanwhile, the US Dollar...
Silver prices held steady around $29.50 an ounce on Monday as investors cautiously await key US economic data that could influence the Federal Reserve's monetary policy outlook. Among the upcoming reports, the market is mainly focused on the US monthly jobs report due on Friday, which could provide insight into whether silver will recover further. The white metal is also getting support from the positive economic outlook in China, the world's largest silver consumer. Beijing recently pledged "more proactive" macroeconomic policies and lower interest rates this year to stimulate...
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...