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 rose on Wednesday (September 10th) after Israel attacked Hamas leaders in Qatar, Poland shot down a drone, and the US pushed for new sanctions on Russian oil buyers, but concerns over crude oversupply limited further gains. Brent crude rose 56 cents, or 0.8%, to $66.95 a barrel, as of 08:35 GMT, and U.S. West Texas Intermediate crude rose 56 cents, or 0.9%, to $63.19 a barrel. Prices had closed up 0.6% in the previous trading session after Israel said it had attacked Hamas leaders in Doha. Both benchmarks rose nearly 2% shortly after the strikes, but then recovered...
The US dollar held steady on Wednesday (September 10th) ahead of US inflation data this week that could help shape the Federal Reserve's policy outlook, while tense geopolitical conditions supported currencies like the Swiss franc. Last week's employment data showed that the US economy created far fewer jobs than expected last year, making a Fed interest rate cut next week seem a certainty. However, this did not shake confidence in equity markets, where stocks are trading at record highs, nor did it have a direct impact on the dollar itself, although investors are considering the...
The British pound (GBP) traded higher against other major currencies, except for the Antipodean currencies, on Wednesday. The British currency showed strength as market sentiment remained optimistic amid strong expectations that the Federal Reserve (Fed) will cut interest rates next week. On the domestic data front, investors are awaiting UK Gross Domestic Product (GDP) and factory data for July, scheduled for Friday. Monthly GDP growth in the UK economy is expected to stagnate after rising by 0.4% in June. Monthly Manufacturing and Industrial Production data are also expected to remain...
Gold prices edged higher on Wednesday, holding above the critical $3,600-per-ounce level, buoyed by expectations of a U.S. interest rate cut this month, while key inflation reports due this week were also on investors' radar. Spot gold was up 0.3% at $3,635.329 per ounce, as of 0101 GMT, after hitting a record high of $3,673.95 on Tuesday. U.S. gold futures for December delivery eased 0.2% to $3,673.70. "Sentiment is really bullish. There are several major factors driving gold prices right now. The primary is U.S. rate cut expectations," Capital.com financial market analyst Kyle Rodda...
Silver climbed above $41 per ounce on Wednesday, holding near 14-year highs as traders increased wagers on US Federal Reserve rate cuts. On Tuesday, the Bureau of Labor Statistics reported the US economy likely added 911,000 fewer jobs in the 12 months through March, or about 76,000 fewer per month, underscoring a weaker labor market than previously estimated. Together with last week's soft August jobs report, the data reinforced expectations for a 25 basis point cut next week, though some investors are betting on a larger 50 basis point move. Attention now turns to key inflation figures...
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...