Oil edges higher in early Asian trade, aided by renewed supply concerns. President Trump said that he would give Russian President Putin 10 or 12 days to reach a cease-fire with Ukraine or face more economic pressure from the U.S.. Previously, Trump had threatened Moscow with 100% secondary tariffs to create pressure toward a peace deal, ANZ Research analysts say in a research report. Trump's remarks have reignited fears that Russia's oil flows would be impacted, the analysts add. Front-month WTI crude oil futures are 0.2% higher at $66.85/bbl; front-month Brent crude oil futures are 0.2%...
A dollar index remained steady as traders weigh US-China trade talks ahead of key economic data releases expected later this week. The Bloomberg Dollar Spot Index little changed on Tuesday after rising 0.8% a day earlier US Commerce Secretary Howard Lutnick said a 90-day extension of a trade truce with China was a likely outcome with negotiations between the two countries underway in Stockholm US economic data to be released on Tuesday include wholesale inventories, JOLTS job openings, Conference Board consumer confidence "On US-China, a better-than-expected result,...
The Japanese yen hovered around 148.3 per dollar on Tuesday, holding near one-week lows after a sharp three-day decline, pressured by broad dollar strength. The greenback remained supported as recent global trade agreements are seen as disproportionately benefiting the US economy. US President Donald Trump also reiterated on Monday that countries unwilling to negotiate separate trade deals could soon face tariffs of 15% to 20%, significantly above the 10% headline rate imposed in April. On the domestic front, the Bank of Japan is set to announce its latest policy decision this week. While...
EUR/USD moves little after registering more than 1% losses in the previous session, trading around 1.1590 during the Asian hours on Tuesday. The pair faced challenges as the US Dollar (USD) rose on trade optimism, driven by the trade deal between the United States (US) and the European Union (EU). The US and EU reached a framework trade agreement on Sunday that sets 15% tariffs on most European goods, taking effect on August 1. This deal has ended a months-long stand-off, per Bloomberg. European Commission President Ursula von der Leyen said on Sunday that the bloc agreed not to impose...
Silver price (XAG/USD) trades cautiously near its weekly low around $38.00 during the Asian trading session on Tuesday. The white metal struggles to gain ground as its safe-haven demand has diminished, following the announcement of a trade agreement between the United States (US) and the European Union (EU). Over the weekend, both sides of the Atlantic confirmed that they have reached a framework under which Washington will charge 15% tariffs on imports from Brussels. The announcement of the trade framework has diminished fears of a damaging global trade war. Meanwhile, investors await the...