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 price (XAU/USD) continues losing ground for the fifth consecutive day and drops to its lowest level since September 19, around the $2,559-2,558 region as the US Dollar (USD) buying remains unabated through the Asian session on Thursday. Hopes that US President-elect Donald Trump's policies will spur growth and stimulate inflation, and force the Federal Reserve (Fed) to pause its easing cycle remain supportive of elevated US Treasury bond yields. This, in turn, lifts the USD to its highest level since November 2023 and continues to weigh heavily on the commodity. Furthermore, the US...
Gold prices (XAU/USD) attracted sellers for the fifth consecutive day and dropped to the lowest level since September 19, around the $2,559-2,558 region during the Asian session on Thursday. The US Dollar (USD) continued its post-election rally and climbed to a new peak so far this year (YTD) on hopes that US President-elect Donald Trump's policies will spur growth. This, in turn, was seen as a key factor that continued to weigh on the USD-denominated commodity. Meanwhile, investors believe that the protectionist tariffs expected from the new Trump administration could increase inflation...
The Australian Dollar (AUD) continued its losing streak against the US Dollar (USD) following the release of key economic data on Thursday. Australian Consumer Inflation Expectations fell to 3.8% in November, down from 4.0% in the previous month, reaching the lowest level since October 2021. Australia's seasonally adjusted Unemployment Rate remained steady at 4.1% in October for the third month in a row, in line with market expectations. However, Employment Change showed only 15.9K new jobs were added in October, well below estimates of 25.0K. Reserve Bank of Australia (RBA) Governor...
Oil prices steadied after hitting their lowest levels this month on Wednesday as a surging U.S. dollar weighed on the commodity, and concerns about demand growth clouded the outlook. Brent, the global benchmark, traded near $72 a barrel, while West Texas Intermediate was above $68. The U.S. currency has strengthened to a two-year high following Donald Trump's election victory, making dollar-priced raw materials more expensive for most buyers. China's weakening profile in global oil markets was highlighted midweek, with the U.S. Energy Information Administration saying India is now the main...
Silver (XAG/USD) attracted some follow-through selling during the Asian session on Thursday and dropped to its lowest level since September 19 in the last hour. Bearish traders now await a sustained break below the $30.00 psychological mark before positioning for an extension of the recent sharp decline from 12-year tops touched last month. An overnight close below the 50% Fibonacci retracement level of the August-October rally and a subsequent break through the 100-day Simple Moving Average (SMA) for the first time since September could be seen as a fresh trigger for bearish traders....
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...