Oil steadied after an advance as OPEC+ delegates said the group was considering delaying restoring output, and Ukrainian drones attacked a crude-pumping station in Russia. Brent crude traded above $75 a barrel after a modest gain on Monday, while West Texas Intermediate was near $71. The cartel and its allies are considering pushing back a series of monthly supply increases due to start in April, according to delegates. Meanwhile, the Ukrainian strike forced exports through the main pipeline from Kazakhstan to slow. Postponing the 120,000 barrel-a-day hike would...
The Australian Dollar (AUD) pauses its three-day winning streak against the US Dollar (USD) as traders await the Reserve Bank of Australia's (RBA) policy decision on Tuesday. The central bank is widely expected to lower its Official Cash Rate (OCR) by 25 basis points (bps) to 4.10%, marking the first rate cut in four years. However, policymakers may adopt a cautious stance, as trimmed mean inflation remains above the RBA's 2%-3% target range. Signs of easing inflation in Australia have increased expectations for a rate cut in February. December data indicated slowing price pressures, with...
The Japanese Yen retreats after touching a one-week high against its American counterpart. Rising bets for an imminent BoJ rate rise this year should limit any deeper losses for the JPY. The narrowing US-Japan yield differential might also lend support to the lower-yielding JPY. The Japanese Yen (JPY) attracts some sellers during the Asian session on Tuesday, which, along with a modest US Dollar (USD) uptick, assists the USD/JPY pair in staging a modest recovery from the 151.25 area or over a one-week low. Investors cheered a delay in the implementation of US President Donald Trump's...