Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more "noise" than signals of a short-term surplus. As of 3:50 PM WIB, Brent was at $69.60/barrel (+0.29%) and WTI was at $64.83/barrel (+0.31%). The gains were moderate, but enough to keep prices near the psychological $70 level for Brent. From a geopolitical perspective, market focus is on the potential for escalation in the Middle East. Recent reports...
The United States was rocked by another political tragedy after Charlie Kirk, a conservative figure and close supporter of Donald Trump, was shot dead while attending an event at Utah Valley University. This incident immediately sparked national outrage, given that Kirk was known as an influential young figure in the conservative movement and a frequent mobilizer of Trump's voter base. The shooting is feared to deepen political polarization in the US, with Republicans viewing it as an attack on free speech, while the issue of gun control has resurfaced. This political uncertainty has the...
Initial jobless claims in the US surged by 27,000 from the previous week to 263,000 in the first week of September, the highest single-week figure since October 2021, and well above market consensus of 235,000 initial claims. This finding aligns with a series of downbeat labor market surveys released since the beginning of the month, adding to evidence of worsening employment conditions in the US. (alg) Source: Trading Economics
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the US Bureau of Labor Statistics (BLS) reported on Thursday. This figure was in line with market expectations. On a monthly basis, the CPI rose 0.4% after a 0.2% increase in July. Follow our live coverage of US inflation data and market reaction Core CPI, which excludes volatile food and energy prices, rose 3.1% annually in August, in line with July data and analyst estimates. (alg) Source: FXstreet
The European Central Bank (ECB) announced on Thursday that it kept its key interest rates unchanged after its September policy meeting, as expected. With this decision, the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate remained at 2.15%, 2.4%, and 2%, respectively. (alg) Source: FXstreet
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts the largest US base in the Middle East. Israel's surprise attack on Hamas leaders in Doha on Tuesday has shaken the relationship, angered Trump, and drawn strong condemnation from Doha and its Western allies. Ordered by Israeli Prime Minister Benjamin Netanyahu and targeting the Palestinian militant group's political offices, the attack killed a Qatari security agent and five others, but failed...
Floods on Indonesia's holiday island of Bali have killed at least nine this week and affected 600 people, blocking off major roads in the capital and disrupting a busy travel destination, officials said on Wednesday. Continuous heavy rains between Tuesday evening and Wednesday caused the floods and killed five people in Bali's capital Denpasar, Abdul Muhari, the spokesperson of the country's disaster mitigation agency said in a statement. Four more people were killed in the regions of Jembrana, Gianyar, and Badung, Abdul added. Two people were still missing. Out of 600 people affected,...
The White House update to its tariff schedule is a "welcome development" after challenges caused by a recent U.S. Customs ruling on gold bars, the London Bullion Market Association said on Wednesday. The executive order, issued on September 5 by President Donald Trump, updates the tariff schedule for certain goods, including key gold products. The White House referred to them as reciprocal tariffs. Under the update, gold bars imported from "aligned partner" countries under certain codes of the Harmonized Tariff Schedule of the United States - including 7108.11.00, 7108.12.50, 7108.13.10,...
If Israel failed to kill Hamas leaders in an air strike on Qatar on Tuesday, it would succeed next time, the Israeli ambassador to the United States said after the operation, which raised concerns it would torpedo efforts to secure a ceasefire in Gaza. "Right now, we may be subject to a little bit of criticism. They'll get over it. And Israel is being changed for the better," Yechiel Leiter told Fox News' "Special Report" programme late on Tuesday. Israel attempted to kill the political leaders of Hamas with the attack in the Qatari capital Doha on Tuesday, escalating its military action...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....