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...
Silver slipped below $41.5 per ounce on Thursday, falling for a third consecutive session after the US Federal Reserve delivered a widely expected quarter-point rate cut but struck a more cautious stance on further easing than markets anticipated. The Fed signaled two more reductions this year but only one in 2026, pushing back against expectations for two or three cuts next year. Chair Jerome Powell described the move as "risk management" in response to labor market weakness, while emphasizing there is no urgency to accelerate cuts. Elsewhere, the Bank of Canada also lowered its policy...
The Japanese Yen (JPY) edges lower during the Asian session on Thursday in reaction to the weaker-than-expected release of Core Machinery Orders data from Japan. This, along with a further US Dollar (USD) recovery from the post-FOMC swing low to the lowest level since February 2022, acts as a tailwind for the USD/JPY pair . Moreover, concerns that domestic political uncertainty could give the Bank of Japan (BoJ) more reasons to delay raising interest rates, along with the underlying bullish sentiment, seem to undermine the safe-haven JPY. Meanwhile, the US Federal Reserve's (Fed) dovish...
The U.S. dollar was steady early on Thursday following its plunge to a 3-1/2-year low and then forceful rebound as traders grappled with the ramifications of the Federal Reserve's measured rhetoric on further interest rate cuts. The Fed reduced rates by a quarter point on Wednesday, as expected, and indicated it will steadily lower borrowing costs for the rest of this year, initially sending the dollar plunging. However, Fed Chair Powell characterised the day's policy action as a risk-management cut in response to the weakening labour market, but the central bank does not need to...
Gold rises in the early Asian session amid prospects of further Fed rate cuts that would bolster the appeal of the non-interest-bearing precious metal. The Fed approved a 25bps rate reduction on Wednesday, with a narrow majority of officials penciling in at least two more cuts this year. "Investors cheered the beginning of the rate cut cycle," ANZ Research analysts say in a research report. However, gold price's gains have been curbed by Fed Chair Powell's remarks that were perceived as less dovish than the market had been expecting, the analysts add. Spot gold is 0.3% higher at...
Oil held a decline as traders weighed the impact of the Federal Reserve's interest-rate cut, alongside warnings of mounting US labor market weakness. West Texas Intermediate held steady at $64.13 a barrel, after falling 0.7% the previous day. Brent closed 0.8% lower on Wednesday, as traders had mostly priced in the 25 basis-point cut ahead of the Fed's decision and unwound hedges against a larger reduction. The decline cooled a three-session rally following concerns over oil flows amid Ukraine's attacks on Russian refineries, while oil markets are expected to face oversupply...
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...