WTI crude futures fell 0.8% to $70.70 a barrel on Friday, but are up about 1% this week, as hopes for a peace deal between Russia and Ukraine eased supply concerns. President Donald Trump has resumed peace talks after Putin and Zelenskiy signaled interest in ending the conflict. The potential lifting of sanctions on Moscow could boost global energy supplies, although the International Energy Agency noted that Russian oil exports may continue through alternative channels. Meanwhile, a delay in reciprocal U.S. tariffs provided some stability to oil prices, as investors grew more optimistic...
Gold price (XAU/USD) edges lower to near $2,880 due to profit-taking during the early Asian session on Monday. However, fears of a global trade war in the wake of US President Donald Trump's push for reciprocal tariffs might help limit the precious metal's losses. The delay in the Trump administration's tariff proposals being implemented and profit-taking by traders cap the upside for the yellow metal. Trump on Thursday signed a presidential memorandum laying out his plan to impose "reciprocal tariffs" on foreign nations. However, he delayed their implementation as his administration...
Gold edges higher in the early morning Asian session on a likely technical recovery after front-month Comex gold futures closed nearly 1.5% lower on Friday. However, gains in the precious metal may be capped by easing worries over U.S. tariffs that could hurt economic growth. Markets are coming around to the view that President Trump is using tariffs as a negotiating tool, ANZ Research analysts say in a note. This follows his order for reciprocal tariffs, which might take weeks or even months to complete, the analysts add. Spot gold is 0.1% higher at $2,885.86/oz. Source : Dow Jones...
EUR/USD halts its four-day winning streak, hovering around 1.0490 during Asian trading hours. Liquidity during the North American session may remain thin as all major US financial markets will be closed on Monday for the federal holiday, Presidents' Day. The EUR/USD pair gained ground recently due to delays in implementing US President Donald Trump's reciprocal tariffs, which are taking longer than analysts had anticipated. Additionally, disappointing US economic data has pressured the US Dollar (USD), providing further support for the EUR/USD pair. A weaker-than-expected US retail sales...
West Texas Intermediate (WTI) Oil price rebounds from losses in the previous session, trading around $70.60 per barrel during Monday's Asian hours. However, crude Oil prices faced headwinds as optimism surrounding a potential peace deal between Russia and Ukraine eased supply concerns. The possible removal of sanctions on Moscow could boost global energy supplies. According to BBC sources, Trump administration officials are scheduled to meet with their Russian counterparts in Saudi Arabia on Tuesday to discuss a potential peace agreement. This meeting marks a significant step in restoring...