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...
GBP/USD rebounds from session lows and trades marginally higher on the day above 1.3550. The renewed selling pressure surrounding the USD following the inflation and Jobless Claims data help the pair gain traction in the American session. Although the US Dollar (USD) came under bearish pressure with the immediate reaction to the weaker-than-expected Producer Price Index (PPI) data for August on Wednesday, the cautious market stance helped the currency find support and made it difficult for GBP/USD to gain traction. During a meeting of government ministers on Wednesday, Britain's finance...
Gold price trimmed some of its earlier losses on Thursday, yet it remains negative in the day, down over 0.14% as the latest print of consumer inflation was aligned with estimates. Nevertheless, jobs data outweighed August's Consumer Price Index (CPI) report as the number of Americans filing for unemployment benefits rose. XAU/USD trades at $3,635 after hitting a daily high of $3,649. Bullion edges lower after soft CPI and higher Jobless Claims boost easing odds The US Bureau of Labor Statistics (BLS) revealed that inflation remained steady on the consumer side, with headline CPI standing...
Oil prices slid about 2% on Thursday on concerns over softening U.S. demand and broad oversupply that offset threats to output from the conflict in the Middle East and the war in Ukraine. Brent crude futures were down $1.11, or 1.6%, to $66.38 a barrel at 11:34 a.m. EDT (1534 GMT), while U.S. West Texas Intermediate (WTI) crude fell $1.20, or 1.9%, to $62.47. "Oil prices are falling today in response to bearish IEA (International Energy Agency) headlines, which suggest massive oversupply on the oil market next year," said Carsten Fritsch, an analyst at Commerzbank. The IEA said in its...
Gold trimmed losses after US inflation and labor market data strengthened bets that the Federal Reserve will cut interest rates next week. Consumer prices excluding food and energy rose 3.1% last month from a year earlier, in line with analysts' expectations, according to a Bureau of Labor Statistics report released Thursday (September 11). Separate data showed US initial jobless claims jumped to their highest level in nearly four years. The mixed data bolstered traders' confidence that the US central bank will lower borrowing costs at its two-day meeting ending September 17. Treasury bond...
Oil prices fell on Thursday (September 11), pressured by concerns over weakening US demand and a widespread oversupply, offsetting the threat to production from conflicts in the Middle East and Russia's war in Ukraine. Brent crude futures fell 86 cents, or 1.3%, to $66.63 per barrel at 12:40 GMT, while US West Texas Intermediate crude fell 89 cents, or 1.4%, to $62.78. "Oil prices fell today in response to the IEA's bearish headlines, which point to a massive oversupply in the oil market next year," said Commerzbank analyst Carsten Fritsch. The International Energy Agency (IEA) said in its...
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...