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 rebounds to near 1.0770 in European trading hours on Thursday. The major currency pair bounces back after posting a more than four-month low below 1.0700 on Wednesday. The recovery comes as the US Dollar (USD) corrects ahead of the Federal Reserve's (Fed) interest rate decision, which will be published at 19:00 GMT. On Wednesday, the USD Index surged more than 1.6% – the highest single-day gain in almost four years – as United States (US) citizens chose Republican Donald Trump in the presidential elections over Democratic candidate Kamala Harris. The reasoning behind the US Dollar's...
Silver (XAG/USD) remained on the back foot through the first half of the European session on Thursday, albeit managed to hold above the $31.00 mark. However, the technical setup seems to be tilted in favor of bearish traders and suggests that the path of least resistance for the white metal remains on the downside. The overnight decline and subsequent weakness below the 50-day Simple Moving Average (SMA) confirmed a short-term rising trend-channel breakout. Further, oscillators on the daily chart have been gaining negative traction and add credence to the near-term negative outlook for...
Gold price (XAU/USD) faced challenges as the dollar-denominated precious metals struggled due to a stronger US Dollar (USD) following the victory of former President Donald Trump in the US election. Gold prices are under pressure as safe-haven flows decline amid market optimism and "Trump trades." This shift is driven by the clarity of a presidential victory, while the market had previously been anticipating a contested outcome. US Federal Reserve's (Fed) policy decision will be eyed on Thursday. Markets expect a modest 25 basis point rate cut this week. This could provide support for Gold...
The Australian Dollar (AUD) strengthened following the release of China's Trade Balance data on Thursday. However, the AUD came under downward pressure against the US Dollar (USD) following the earlier Australian Trade Balance data during Asian hours. Downside risks for the AUD/USD pair seem likely as the US Dollar (USD) may strengthen further on market optimism following former President Donald Trump's victory in the US election. China's trade volume expanded in October, reaching $95.27 billion year-on-year, beating the estimate of $75.1 billion and the previous $81.71 billion. Exports...
Gold (XAU/USD) prices extended its decline for the second straight session on Thursday. The dollar-denominated precious metal faced downside pressure from a stronger US Dollar (USD) following former President Donald Trump's victory in the US elections. Gold prices came under pressure as safe-haven flows declined amid market optimism and the "Trump trade." The shift was driven by the apparent presidential victory, while markets had previously anticipated a disputed outcome. The US Federal Reserve's (Fed) policy decision will be eyed on Thursday. Markets are expecting a 25 basis point...
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...