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...
President Donald Trump said he would impose 25% tariffs on India starting August 1 and hinted at adding additional penalties on the country's energy purchases from Russia. In a post on Truth Social on Wednesday, Trump said India has tariffs that are "among the highest in the world, and they have the most onerous and obnoxious non-monetary trade barriers of any country." "Furthermore, they have always purchased the majority of their military equipment from Russia, and are Russia's largest energy buyer, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE,"...
The United States Gross Domestic Product grew at a 3% Annual Rate in the second quarter, according to the preliminary estimate from the US Bureau of Economic Analysis (BEA) on Wednesday. This figure follows a 0.5% contraction in the first quarter and is better than market expectations for a 2.4% expansion. Other details from the report show that the Core Personal Consumption Expenditures (PCE) Price Index rose 2.5% quarter-on-quarter in the second quarter, compared to market expectations of 2.4%. Furthermore, the Gross Domestic Product Price Index rose 2% in Q2, down from the 3.8% increase...
US companies increased hiring in July after a sharp decline the previous month, although the pace remained consistent with weakening labor demand. Private-sector jobs increased by 104,000, according to ADP Research data released Wednesday. The median estimate in a Bloomberg survey of economists was for a gain of 76,000. (alg) Source: Bloomberg
The Federal Reserve is expected to hold interest rates on hold on Wednesday (July 30), six days after President Donald Trump renewed his demand that the US central bank cut borrowing costs during a rare presidential visit to its Washington headquarters. The sharp rate cut Trump is seeking he has suggested cutting it from the current 4.25%-4.50% range to as low as 1% is highly inconsistent with economic conditions that have largely stabilized in the six weeks since the Fed's last meeting. Such a dramatic rate cut would likely increase inflation, according to many economists, and is more in...
The Australian monthly Consumer Price Index is foreseen stable at 2.1%. Quarterly CPI inflation is expected to have modestly decreased in Q2. The Reserve Bank of Australia kept the OCR at 3.85% at its May meeting. The Australian Dollar is set to post lower lows vs its American rival. Australia will release inflation updates on Wednesday, two weeks ahead of the Reserve Bank of Australia (RBA) monetary policy meeting, scheduled for August 11-12. The Australian Bureau of Statistics (ABS) will publish two different inflation gauges: the quarterly Consumer Price Index (CPI) for the second...
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...