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 Australian dollar (AUD) extended its gains for the second straight session on Monday, supported by hawkish comments from Reserve Bank of Australia (RBA) Governor Michele Bullock on Thursday. Bullock stressed that interest rates are currently tight enough and will remain unchanged until the central bank is confident about the inflation outlook. The yield on the benchmark 10-year Australian government bond eased slightly to around 4.66%, down from a one-year high. Recent data showed a slowdown in employment growth in October, while the unemployment rate remained stable, highlighting the...
Oil held a weekly decline on concerns over plentiful supply and the outlook for demand in China, the world's biggest crude importer. Brent crude traded below $71 a barrel after falling 3.8% last week, while West Texas Intermediate was near $67. The prospect of a supply glut next year and a stronger dollar has weighed on prices, while monthly figures showed another drop in apparent oil demand in China during October. Oil has swung between gains and losses since mid-October, with hostilities in the Middle East at times raising fears of an escalation and potential disruption to...
Gold rises in the early Asian trade in a likely technical recovery. Gold ended Friday's trading with largest weekly price drop since the Covid lockdown in March 2020. Recently, Fed Chair Jerome Powell emphasized there's no hurry to cut rates, pointing to U.S. economy's "notable" performance, says Pepperstone's Quasar Elizundia in an email. The shift in Fed rate-cut expectations and U.S. dollar strength have pressured the precious metal, the research strategist adds. Spot gold is 0.4% higher at $2,572.17/oz. Source: Marketwatch
Oil futures settled at their lowest in over two months Friday with expectations for a supply surplus next year, strength in the U.S. dollar, and continued worries over demand from China - the world's largest crude importer - prompting prices to post a loss for the week. West Texas Intermediate crude for December delivery fell $1.68, or nearly 2.5%, to settle at $67.02 a barrel on the New York Mercantile Exchange. Prices based on the front month contract settled at their lowest since Sept. 10 and logged a weekly fall of 4.8%, according to Dow Jones Market Data. January Brent crude, the...
Gold edged lower mid-afternoon on Friday following five losing sessions as the dollar eased and U.S. October retail sales came in higher-than-expected. Gold for December delivery was last seen down US$2.90 to US$2,570.00 per ounce. The dollar eased off a two-year high early, with the ICE dollar index last seen down 0.07points to 106.6. The rise comes as the U.S. Department of Commerce reported retail sales rose 0.4% in October, matching the September rise but ahead of the consensus estimate for a 0.3% increase. The rise showed the U.S. economy remains solid, with Federal Reserve chair...
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...