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...
Oil prices edged lower on Monday (September 22nd) as oversupply concerns outweighed geopolitical tensions in Russia and the Middle East. Brent crude futures fell 24 cents, or 0.4%, to $66.44 a barrel at 11:01 a.m. ET (15:01 GMT). Brent has traded between $65.50 and $69 a barrel since early August. The U.S. West Texas Intermediate crude contract for October, which expires on Monday, was at $62.49 a barrel, down 19 cents, or 0.3%. The more actively traded second-month contract fell 26 cents, or 0.5%, to $62.12. "Traders are again focusing on the possibility of an imminent oversupply in the...
Gold surged to an all-time high on Monday (September 22nd), driven by growing expectations of further US interest rate cuts and continued safe-haven demand amid political uncertainty. Investors are eyeing an upcoming Federal Reserve speech and key inflation data for the latest policy signals. Spot gold prices rose 1.4% to a new record high of $3,735.40 per ounce, as of 11:51 a.m. ET (1551 GMT). US gold futures for December delivery rose 1.7% to $3,768.70. "Safe-haven demand continues to flow amidst still-uncertain geopolitical issues, including the Russia-Ukraine war. The Fed's rate cut...
The dollar traded slightly lower on Monday as traders awaited several Federal Reserve speakers and key data later this week. The Canadian dollar lagged behind other currencies. The Bloomberg Dollar Spot Index fell about 0.1%. This was the first session of declines after three days of gains. Federal Reserve Governor Stephen Miran said interest rates are too high and proposed aggressive rate cuts in the coming months to protect the labor market. "The FOMC may have injected more two-way volatility into currency markets," Vasileios Gkionakis, senior economist and strategist at Aviva...
The U.S. dollar snapped a three-day rising streak on Monday, as investors await comments from Federal Reserve officials to better gauge the monetary policy outlook after the central bank resumed its easing cycle last week. The dollar hovered near levels seen before last week's Fed decision. The current pricing is consistent with the central bank's messaging, which highlighted rising concerns over the U.S. labour market as the key driver of policy, analysts said. Last week's U.S. economic data showed the number of Americans filing new applications for unemployment benefits fell, reversing...
Silver rose to around $43.5 per ounce on Monday, reaching a fresh 14-year high as expectations of further US Federal Reserve rate cuts bolstered demand for precious metals. Last week, the Fed delivered a widely anticipated 25 basis point cut, the first since December, while signaling the possibility of two more reductions this year. Investors are now looking ahead to fresh Fed commentary and a key US inflation report this week for further guidance on the rates outlook. Strong fundamentals also supported silver, with tight supply helping maintain upward momentum. On the demand side, robust...
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...