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 prices fell on Thursday (September 18th) due to profit-taking, after hitting a record high in the previous session, as the market assessed the Federal Reserve's stance on further interest rate cuts. Spot gold fell 0.6% to $3,639.05 an ounce at 11:15 a.m. EDT (15:15 GMT). U.S. gold futures for December delivery fell 1.2% to $3,672.20. The previous session was marked by volatile trading, with spot prices briefly reaching a record high of $3,707.40 before retreating. The U.S. dollar index strengthened 0.6%, making dollar-priced commodities more expensive for holders of other...
Gold (XAU/USD) stabilizes on Thursday after a sharp reversal following the Federal Reserve's (Fed) interest rate decision. The metal briefly spiked to a fresh all-time high near $3,707 in the immediate aftermath of the widely expected 25-basis-point (bps) rate cut on Wednesday, but gains quickly faded as the outcome had already been largely priced in. Profit-taking and a rebound in the US Dollar (USD) sent Gold lower, with the metal closing the day down 0.88%. At the time of writing, XAU/USD is edging higher, trimming some of the previous day's losses. The metal is trading around $3,770...
Oil prices drifted higher Thursday, trading near two-week highs as traders digested an interest rate cut from the Federal Reserve amid worries of slowing U.S. growth. At 04:55 ET (08:55 GMT), Brent oil futures for November gained 0.2% to $68.10 a barrel and West Texas Intermediate crude futures rose 0.3% to $64.23 a barrel. Crude prices had steadily advanced this week as continued military action between Russia and Ukraine spurred concerns over disruptions in Russian oil output. Speculation over more western sanctions on Russia's oil industry also buoyed prices. A softer dollar, which...
Gold prices extended declines in Asian trading on Thursday, slipping from record highs as the U.S dollar rebounded after the Federal Reserve lowered interest rates in a widely expected move and signalled a measured approach to further policy easing. Spot gold fell 0.7% to $3,635.55 an ounce by 02:24 ET (06:24 GMT), extending a nearly 1% loss from the previous session, where it reached a fresh record high of $3,707.40/oz. U.S. Gold Futures for December delivery dropped 1.3% to $3,670.45. Fed lowers rates by 25bps, cautious on future easingThe Fed lowered its benchmark rate by 25 basis...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, has lost its daily gains and is trading around 97.00 during the European hours on Thursday. Traders will likely observe weekly US Initial Jobless Claims later in the North American session. However, the US Dollar (USD) gained support from strong inflation projections that have curbed expectations of more aggressive Federal Open Market Committee (FOMC) rate cuts. The Federal Reserve (Fed) lowered the funds rate by 25 basis points (bps), marking the first cut of the year. A Summary of...
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...