Crude oil edged higher as traders assessed the impact of fresh US sanctions on Iran, adding another layer of complexity to global supply dynamics. Meanwhile, gold hovered near its all-time high, fueled by ongoing demand for safe-haven assets amid economic uncertainty. Treasury 10-year yields slipped three basis points to 4.4% in Asia, tracking the flight to safety that pushed gold to a record high earlier in the week.
Crypto Under Pressure, Bitcoin Slumps for Third Straight Session
Bitcoin declined for a third consecutive session, with Ether and other major altcoins such as Solana and Dogecoin also facing continued selling pressure. The cryptocurrency sector remains on edge following last week’s record-breaking hack, leaving investors cautious. Bitcoin, often touted as a “Trump trade,” mirrored broader risk sentiment, struggling to find support.
Geopolitical Tensions Escalate as Trade and Ukraine Policy Shift
Uncertainty surrounding global trade deepened after former President Donald Trump reaffirmed that tariffs targeting Canada and Mexico remain on track for implementation next month. Markets remain divided on whether the trade policies will reignite inflationary pressures or weigh on economic growth.
Meanwhile, geopolitical risks intensified as Trump withdrew US support for condemning Russia’s 2022 invasion of Ukraine at the United Nations and within the Group of Seven. The shift raises concerns about Washington’s evolving stance on the conflict, injecting fresh volatility into global markets.