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 EUR/USD pair trades on a stronger note near 1.1705 during the Asian trading hours on Monday. The rising rate cut expectation from the US Federal Reserve (Fed) continues to weigh on the Greenback against the Euro (EUR). Later on Monday, the European Central Bank (ECB) President Christine Lagarde is scheduled to speak. The Personal Consumption Expenditures (PCE) Price Index came in line with the expectations in July, according to the US Bureau of Economic Analysis. The headline PCE rose 2.6% YoY in July, while core PCE, which excludes the more volatile food and energy, climbed 2.9% in the...
Oil prices fell in Asian trading on Monday after recording monthly losses for August, as investors discounted the risk of immediate supply disruptions from potential secondary sanctions on Russian crude and focused on fresh Chinese factory data for demand signals. As of 23:01 ET (03:01 GMT), Brent Oil Futures expiring in October fell 0.4% to $67.21 per barrel, while West Texas Intermediate (WTI) crude futures also declined 0.4% to $63.78 per barrel. Both contracts dropped more than 7% in August, dragged by supply glut fears from steady OPEC+ production hikes. Markets shrug off...
Gold prices climbed toward $3,480 per ounce on Monday, nearing a record high as investors weighed the future of the Federal Reserve and uncertainty over US President Donald Trump's tariffs. A hearing on Trump's move to fire Fed Governor Lisa Cook ended Friday without a decision, and a ruling is not expected to arrive before at least Tuesday. At the same time, a federal appeals court ruled that Trump's global tariffs were illegally imposed under an emergency law, upholding a May ruling by the Court of International Trade. But these tariffs will be allowed to persist until October 14, giving...
The yen strengthened to around 146.8 per dollar on Monday, recovering losses from the previous session as the greenback stayed under pressure from expectations of Federal Reserve rate cuts. Traders are also awaiting a series of US labor market releases this week that could shape the Fed's next move. In Japan, data showed capital spending rose 7.6% in Q2 2025, accelerating from 6.4% in the prior quarter and topping forecasts of 6.2%. Meanwhile, the August manufacturing PMI was revised down to 49.7 from 49.9, marking the 13th contraction in factory activity over the past 14 months. Markets...
The Australian dollar appreciated past $0.654 on Monday, marking its fifth consecutive session of gains and its highest level in over two weeks amid a mixed set of domestic economic indicators. Notably, Australia's Manufacturing PMI rose to a near three-year high of 53 in August 2025, marking its eighth consecutive month above the 50-point threshold. Labor market conditions also showed resilience, with ANZ-Indeed Job Ads edging up 0.1% month-over-month in August, rebounding from a decline in July. In the housing sector, private house approvals increased by 1.1% month-over-month in July to...
The dollar index hovered around 97.8 on Monday, near one-month lows, as traders awaited a series of labor market releases this week that could shape the Federal Reserve's next policy decision. Key reports include Friday's August jobs data, alongside figures on unemployment, job openings, and private payrolls. Investors also weighed Friday's PCE price index, which confirmed continued price increases and added uncertainty to the outlook for rate cuts. Still, markets are pricing in about an 88% probability that the Fed will lower rates by 25 basis points later this month. On the trade front,...
The USD/JPY pair gains ground to around 147.20 during the early Asian session on Monday. The Japanese Yen (JPY) softens against the US Dollar (USD) as cooling inflationary pressures in Japan undermine bets of one more interest rate hike by the Bank of Japan (BoJ) this year. Traders await the US ISM Manufacturing Purchasing Managers Index (PMI) report later on Tuesday ahead of highly anticipated US Nonfarm Payrolls (NFP) data. Inflation in Japan, as measured by the Tokyo Consumer Price Index (CPI), grew at a moderate pace in August. The headline CPI rose 2.5% YoY in August against a...
Gold is steady in early Asian trade. Prices are likely to consolidate in the short term before another rally toward $3,600/oz by year-end, ANZ Research commodity strategists write in a note. The precious metal's recent rally, which has been mainly supported by trade uncertainty, is losing steam as U.S.-China trade negotiations are underway. A strong catalyst would be needed to push gold's prices beyond their record high, they say. "We believe macroeconomic data are likely to take over as the primary catalyst," they add. Spot gold is flat at $3,446.70/oz. Source: Bloomberg
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....