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 traded lower mid-afternoon on Thursday, moving down even as the dollar weakened following an unexpected jump in U.S. initial jobless claims last week. Gold for February delivery was last seen down US$28.10 to US$2,648.10 per ounce. The U.S. Department of Labor reported 224,000 initial jobless claims were made last week, above the consensus estimate and prior week level of 215,000, according to Marketwatch. The results follows on a weaker than expected rise in private sector employment in November, with the ADP Employment Report released Wednesday showing a rise of 146,000 positions,...
The U.S. dollar weakened slightly on Thursday ahead of the release of more important labor market data, while the euro gained a bit despite political turmoil in France. At 5:20 AM ET (10:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.1% lower at 106.180. The dollar has given back some of its recent gains after private monthly payrolls grew more slowly than expected while service sector activity slowed in November after posting gains in recent months. Federal Reserve Chairman Jerome Powell has indicated that the U.S. economy is...
Gold prices (XAU/USD) traded in a tight range around $2,650.00 during the European session on Thursday (5/12). The precious metal struggled to find direction as investors have been sidelined ahead of the United States (US) Nonfarm Payrolls (NFP) data for November, due for release on Friday. The labor market data will significantly influence market expectations for the Federal Reserve's (Fed) likely interest rate decision at its monetary policy meeting on December 18. Financial market participants currently expect the Fed to cut interest rates by 25 basis points (bps) to 4.25%-4.50%,...
Gold steadied after a modest gain as the market digested remarks from the head of the Federal Reserve before data that may influence the central bank's next interest-rate decision. Bullion traded near $2,645 an ounce after Fed Chair Jerome Powell said he expects officials can move cautiously as they continue to lower rates. US nonfarm payroll figures due Friday are the next major data point before policymakers meet on Dec. 17-18 in Washington, with swaps markets pricing in a 25-point cut. Gold has scope to push higher next year, likely hitting a...
Oil prices were mostly steady on Thursday ahead of an OPEC+ meeting later in the day, with investors waiting to see what the producer group will do next on supply cuts while also monitoring geopolitical tensions in the Middle East. Brent crude futures were up 5 cents, or 0.07%, at $72.36 a barrel by 0730 GMT, while U.S. crude futures were at $68.60 a barrel, up 6 cents, or 0.09%. Both benchmarks fell nearly 2% on Wednesday. A bank sold a large number of U.S. futures contracts in afternoon trading on Wednesday, a person with direct knowledge of the matter said, pushing prices lower. The...
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...