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 U.S. dollar rose against major currencies on Tuesday following better-than-expected retail sales data that pointed to underlying economic momentum as markets braced for interest rate moves from the Federal Reserve and other central banks. Commerce Department data on Tuesday showed U.S. retail sales beat expectations by rising 0.7% in November, supported by a surge in auto and online purchases. Markets expect the Fed to deliver a 25 basis point rate cut at the conclusion of its two-day policy meeting on Wednesday, with futures implying a nearly 97% chance of a cut, according to the CME...
Gold prices were steady in early Asian trading on Wednesday (12/18) as markets awaited the Federal Reserve's interest rate decision, with a rate cut widely expected. The future direction of monetary policy remains uncertain, especially given potential inflationary pressures, FlowCommunity's Ruben Ferreira wrote in a note. Upcoming policy decisions from other major central banks such as the Bank of Japan are among the factors that could influence the precious metal's trajectory in the coming months, Ferreira said. Gold typically has an inverse relationship to interest rates, with higher...
US benchmark West Texas Intermediate (WTI) crude oil prices were trading around $69.70 on Wednesday (12/18). WTI prices moved lower amid fresh concerns about Chinese demand. Investors remained cautious ahead of the US Federal Reserve's interest rate decision on Wednesday. Disappointing Chinese Retail Sales raised concerns about weakening consumer spending in China, the world's largest oil importer. "The bearish momentum generated by the Chinese data has crushed speculators' hopes of breaking out of the upper two-month range," said Robert Yawger, director of energy futures at Mizuho...
The bullish momentum behind the Euro evaporated on Tuesday, dragging the pair back below the 1.0500 level as traders prepare for the Federal Reserve's (Fed) final interest rate decision in 2024. European data was relatively light this week, forcing Fiber traders to navigate a slew of US data. The Euro market largely ignored the appearances of several European Central Bank (ECB) officials earlier in the week, and despite December's European PMI figures beating expectations. The pan-EU Services PMI survey figures remained in contraction as concerns over a deepening economic slowdown in Europe...
Gold price dropped to a new weekly low of $2,633 on Tuesday following the release of strong Retail Sales data in the United States. This weighed on investors' expectations of the Federal Reserve (Fed), which is expected to adopt a gradual approach to easing in 2025. At the time of writing, the XAU/USD trades at $2,637, down 0.57%.The Fed has begun its two-day meeting in Washington, DC, and is expected to lower interest rates by 25 basis points (bps) on Wednesday. The markets have already priced in the decision, but participants are looking for the Summary of Economic Projections (SEP) and...
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...