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...
EUR/USD is trading in a tight range near the psychological 1.0500 mark during the European session on Wednesday. The major currency pair is consolidating as investors await the outcome of the Federal Reserve's (Fed) final policy meeting of the year, which will conclude at 19:00 GMT. The Fed will also release a revised Summary of Economic Projections (SEP), also known as the dot plot, which shows the latest economic projections and where policymakers see the Federal Funds Rate heading in the medium to long term. Analysts at Bank of America (BofA) expect the Fed to cut interest rates by 25...
Silver (XAG/USD) struggled to capitalize on the previous day's modest rebound from the vicinity of monthly lows, around the psychological $30.00 mark and attracted some sellers on Wednesday. The white metal remained pressured through the first half of the European session and is currently trading just below mid-$30.00s, down nearly 0.30% for the day. From a technical perspective, the recent failure near the $32.35 horizontal resistance and a subsequent fall back below the 100-day Simple Moving Average (SMA) favors bearish traders. Moreover, oscillators on the daily chart are holding in...
Gold (XAU/USD) prices remained depressed through the first half of the European session on Wednesday, albeit lacked any follow-through selling and so far, has held above the one-week low touched the previous day. A less dovish Federal Reserve (Fed) outlook remained supportive of the US Treasury bond yields and acted as a headwind for the non-yielding yellow metal. However, the US Dollar (USD) investors seemed reluctant to place any aggressive bets and preferred to wait for the key FOMC decision. Investors will be closely watching the latest economic projections, including the so-called dot...
The Australian Dollar (AUD) extended its decline for the second straight session against the US Dollar (USD) on Wednesday (18/12). Traders are bracing for a potential 25 basis point interest rate cut by the US Federal Reserve (Fed) later in the North American session. The AUD is also facing headwinds as traders increase their bets that the Reserve Bank of Australia (RBA) will cut rates sooner and more significantly than previously expected. However, the upcoming decision will be data-driven, with evolving risk assessments guiding the RBA's approach. The US Dollar (USD) remains solid amid...
The Japanese Yen (JPY) struggled to build on the previous day's modest recovery against its US counterpart and attracted fresh sellers during the Asian session on Wednesday. Data released today showed that Japan's Trade Balance unexpectedly improved in November on strong export growth, although a decline in imports indicated weak local demand. This, coupled with an uncertain economic outlook amid concerns about US President-elect Donald Trump's tariff plans, reaffirmed expectations that the Bank of Japan (BOJ) will keep interest rates steady later this week and weakened the JPY. Meanwhile,...
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...