West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on Friday's move higher and attract fresh sellers at the start of a new week. The commodity, however, recovers slightly from the Asian session low and currently trades around the $61.70-$61.65 region, still down nearly 0.40% for the day. The uncertainty over the outcome of Iran-US nuclear talks and rising tensions between Estonia and Russia, following the latter's detention of a Greek-owned oil tanker on Sunday, turned out to be key factors acting as a tailwind for the black liquid. In fact, US special envoy Steve...
Gold price (XAU/USD) attracts buyers during the Asian session on Monday as a surprise downgrade of the US government's credit rating tempers investors' appetite for riskier assets and boosts demand for traditional safe-haven assets. Furthermore, US Treasury Secretary Scott Bessent's reaffirmation of President Donald Trump's tariff threats lends additional support to the bullion. Meanwhile, bets that the Federal Reserve (Fed) will cut interest rates further this year keep the US Dollar (USD) depressed and turn out to be another factor lending some support to the non-yielding yellow...
Silver price (XAG/USD) extends its losses for the second successive session, trading around $32.30 per troy ounce during the Asian hours on Monday. While silver prices have recently faced downward pressure, the downside may be limited due to rising demand for safe-haven assets, spurred by growing concerns over the US economic outlook and fiscal stability. Moody's has downgraded the US credit rating by one notch from Aaa to Aa1 citing surging debt levels and an increasing burden from interest payments. This follows similar downgrades by Fitch Ratings in 2023 and Standard & Poor's in...
Oil prices ticked lower in Asian trading on Monday after weekly gains, as oversupply concerns persisted amid U.S.-Iran nuclear talks, while investors assessed Chinese factory data showing resilience despite the effect of U.S. tariffs. Investors were also cautious as the global ratings agency Moody's downgraded its investment grade rating on the U.S. As of 23:23 ET (03:23 GMT), Brent Oil Futures expiring in June inched 0.3% lower to $65.20 per barrel, while West Texas Intermediate (WTI) crude futures also fell 0.3% to $61.77 per barrel. Both contracts gained more than 1% last week, driven...
The GBP/USD pair recovered from prior session losses, trading near the 1.3300 level during Asian session on Monday. The rebound is largely driven by renewed pressure on the US Dollar (USD) after Moody's Investors Service downgraded the US credit rating by one notch, from Aaa to Aa1. The agency cited escalating debt levels and a growing burden from interest payments as primary concerns. This move aligns with previous downgrades by Fitch Ratings in 2023 and Standard & Poor's in 2011. Moody's now forecasts US federal debt to rise to approximately 134% of GDP by 2035, up from 98% in 2023....