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...
The US Dollar Index (DXY), which tracks the greenback against six major currencies, attempted to strengthen during the European session on Tuesday after hitting a fresh six-week low near 97.30 the previous day. The US labor market has deteriorated following tariffs imposed by President Donald Trump since taking office. The US Nonfarm Payrolls (NFP) report for August showed on Friday that labor demand is slowing further, with companies adding fewer new workers. In August, the US economy added 22,000 new jobs, the worst figure seen since January 2021. The weakening US labor market has led to...
Gold prices scaled a fresh peak on Tuesday, as a weaker dollar and a dip in bond yields amid growing bets for a Federal Reserve rate cut this month lifted demand for the precious metal. Spot gold gained 0.4% to $3,651.38 per ounce as of 0249 GMT. U.S. gold futures for December delivery added 0.4% to $3,690.90. "We probably will see more upside in gold from here provided that the U.S. central bank delivers with regards to market expectations of seeing multiple rate cuts," KCM Trade Chief Market Analyst Tim Waterer said. U.S. job growth weakened sharply in August and the unemployment rate...
Silver is currently trading at around US$41.26 per ounce in Asian trading on Tuesday, a slight decline of 0.19% from the previous session. This level remains near its highest level in recent years, reflecting moderate volatility but remaining below the broader bullish trend. The decline in silver prices was driven by market optimism regarding the possibility of a Fed interest rate cut. Expectations of monetary policy easing have depressed bond yields, reducing the appeal of non-interest-bearing "safe haven" assets like silver. Furthermore, a weakening US dollar has strengthened investment...
Gold held near its latest record reached on Monday, with its rally stoked by a surge in bets for a wave of Federal Reserve rate cuts this year. Bullion was little changed in early Asian trading, trading at around $10 short of its latest peak of $3,646.46 an ounce. It climbed 2.5% in the previous two sessions after unexpectedly weak US payrolls data on Friday prompted traders to price in three rate cuts this year, including a quarter-point cut at the Fed's meeting next week. Gold tends to benefit from lower borrowing cost as it doesn't pay interest. Whether gold...
Oil steadied as investors weighed the prospect for softening demand after Saudi Arabia cut pricing for most of its grades. West Texas Intermediate traded above $62 a barrel after climbing 0.6% in the previous session. Brent closed near $66. State producer Saudi Aramco will trim the price for all its crude for buyers in Asia next month, following a decision by OPEC+ to continue adding idled barrels to the market in October. Aramco reduced the price for its flagship Arab Light crude to Asia more than expected, potentially sending a bearish signal, according to...
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...