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 strengthened to around $0.657 on Friday (October 10), rebounding from a nearly two-week low. This gain came after RBA Governor Michele Bullock struck a cautious tone: services inflation remains sticky, second-quarter inflation was slightly above forecasts but trending upwards. She also emphasized the volatile monthly CPI data and said the labor market remains tight but is approaching equilibrium. The market also expects the RBA to hold interest rates (after keeping them at 3.6% in September). Despite today's strength, the AUD is still headed for a slight weekly decline...
Gold rose slightly in the early Asian session, up 0.3% to $3,986.90/oz, recovering from a sharp overnight decline. This gain is seen as a technical recovery, and according to Fadi Al Kurdi (FFA Kings), gold's bullish momentum still has the potential to continue. On the sentiment side, the US government shutdown delayed the release of important data and added fiscal uncertainty, thus maintaining interest in safe assets. Furthermore, the September FOMC minutes showed that the Fed sees significant labor market risks for further interest rate cuts, although it remains cautious due to...
Oil held the biggest decline in a week on cautious optimism about easing tensions in the Middle East and the outlook for supply. West Texas Intermediate traded below $62 a barrel after closing 1.7% lower on Thursday. Brent settled near $65. A peace agreement between Israel and Hamas took another major step forward following Israel's approval of a framework that would see hostages and prisoners released. OPEC+ agreed to raise production quotas again at a gathering on Sunday, exacerbating concerns of an oversupplied market in the coming months. Still, the...
Oil prices settled lower on Thursday after Israel and the Palestinian militant group Hamas signed an agreement to cease fire in Gaza. Brent crude futures closed down $1.03, or 1.6%, at $65.22 a barrel. U.S. West Texas Intermediate crude was down $1.04, or 1.7%, at $61.51. Israel and the Palestinian militant group Hamas signed an agreement on Thursday to cease fire and free Israeli hostages in exchange for Palestinian prisoners, in the first phase of U.S. President Donald Trump's initiative to end the war in Gaza. Under the ceasefire deal, fighting will cease, Israel will partially...
Gold price retreated during the North American session on Thursday after hitting a record high of $4,058, plunges below $4,000 as the Greenback posts solid gains.. XAU/USD trades at $3,978, down 1.5%. Safe haven demand eases amid Israel–Hamas ceasefire hopesThe Gold market mood turned negative on Thursday. Bullion prices fell as traders booked profits, sending prices toward a daily low of $3,944 as China's traders got back from holidays. Upbeat news regarding a permanent ceasefire between Israel and Hamas added to relief sentiment by market players. Despite this, the ongoing Russia-Ukraine...
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...