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 continued their rally on Tuesday (September 9), driven by the latest smaller-than-anticipated increase in OPEC+ oil production, expectations that China will continue to hoard oil, and concerns over potential new sanctions against Russia. The eight-member Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed on Sunday to increase production starting in October by 137,000 barrels per day, down from the roughly 550,000 barrels per day they made in September and August. Brent crude rose 53 cents, or 0.8%, to $66.55 a barrel at 12:00 GMT, while U.S. West...
Gold hit a new record high on Tuesday (September 9), holding well above the $3,600 level reached in the previous session, as rising bets on a US interest rate cut weakened the dollar and pushed bond yields down, boosting demand for the precious metal. Spot gold rose 0.4% to $3,654.09 an ounce at 09:31 GMT, after hitting a record high of $3,659.10 earlier in the session. US gold futures for December delivery rose 0.4% to $3,693. Gold prices have risen nearly 39% this year, after surging 27% in 2024, driven by a weaker dollar, strong central bank accumulation, dovish monetary policy, and...
Oil prices continued their rally on Tuesday (September 9), driven by the latest smaller-than-anticipated increase in OPEC+ oil production, expectations that China will continue to hoard oil, and concerns over potential new sanctions against Russia. The eight-member Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed on Sunday to increase production starting in October by 137,000 barrels per day, down from the roughly 550,000 barrels per day they made in September and August. Brent crude rose 73 cents, or 1.1%, to $66.75 a barrel at 08:10 GMT, while U.S. West...
EUR/USD recorded a slight gain at 1.1760 after a two-day rally on Tuesday. The US dollar remained on the defensive as investors anticipated a sharp downward revision to US employment figures, although the political crisis in France continued to weigh on positive sentiment for the euro (EUR). The US Bureau of Labor Statistics is expected to release its seasonally adjusted employment data for the 12 months to March 2025 at 14:00 GMT. Markets are expecting a decline of up to 800,000 jobs, which would reflect a weaker-than-expected labor market and likely prompt the Federal Reserve (Fed) to...
The British pound (GBP) continued its strengthening against the US dollar (USD) for the third trading day on Tuesday. The GBP/USD pair reached a new three-week high around 1.3580 during the European trading session as the US dollar weakened ahead of the release of the revised US Nonfarm Payrolls (NFP) report, which will be published at 14:00 GMT. At the time of writing, the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, hit a new six-week low around 97.30. Investors will be closely monitoring the US Nonfarm Payrolls (NFP) benchmark revision...
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...