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 moved lower near 1.0550 during the Asian trading hours on Thursday. The pair's decline could be attributed to the US Dollar (USD) improvement amid cautious sentiment surrounding the Federal Reserve's (Fed) December interest rate decision, following Wednesday's solid inflation data. Markets may witness thin trading due to the US Thanksgiving holiday. The latest US inflation report indicated solid growth in consumer spending in October, but also highlighted stagnation in the progress towards lowering inflation, keeping the Fed on guard. The US Personal Consumption Expenditures (PCE)...
Gold fell below $2,630 an ounce on Thursday (11/28), paring recent gains as investors continued to assess the latest U.S. economic data. Both PCE and core PCE prices showed that inflation has stalled, reinforcing the Federal Reserve's cautious stance on further interest rate cuts. Additional data suggested the economy remains strong, with the release of the second estimate of third-quarter GDP, while employment data pointed to continued resilience in the labor market, with the number of Americans filing for unemployment benefits falling below expectations. The data further limits the Fed's...
Silver price (XAG/USD) extends its losses for the second consecutive day, trading around $29.90 per troy ounce during the Asian session on Thursday. The decline in Silver prices can be attributed to safe-haven flows diminishing amid easing geopolitical tensions in the Middle East. A ceasefire between Israel and the Lebanese armed group Hezbollah was successfully upheld on Wednesday, following a deal mediated by the United States (US) and France. This truce has allowed people in the border areas, devastated by 14 months of conflict, to begin returning to their homes. Source: FXStreet
The Japanese Yen (JPY) weakens slightly against its American counterpart during the Asian session on Thursday and erodes a part of the recent strong gains to a five-week top touched the previous day. In the absence of a fresh fundamental catalyst, the intraday JPY slide is more likely to remain limited amid speculation that the Bank of Japan (BoJ) may hike interest rates again in December. Furthermore, US President-elect Donald Trump's tariff threats and geopolitical risks could underpin the safe-haven JPY. Meanwhile, traders have been dialling back on the so-called "Trump trades"...
The Australian Dollar (AUD) holds steady against the US Dollar (USD) following the release of stronger-than-expected Private Capital Expenditure on Thursday. Australia's total new capital expenditure rose by 1.1% quarter-on-quarter in the third quarter, surpassing market expectations of a 0.9% increase and rebounding from a 2.2% decline in the previous quarter. However, the AUD/USD pair may face downward pressure as the United States (US) is set to unveil additional measures on Monday aimed at curbing China's ability to advance in artificial intelligence technology. Given the close trade...
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...