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...
Silver climbed above $38.6 per ounce on Thursday, trading near one-month highs as the dollar retreated on growing expectations of a US Federal Reserve rate cut next month. Markets now assign an 89% probability of a 25 basis point cut in September, up from 82% a week earlier. The shift came as President Donald Trump sought to exert greater influence over the central bank after attempting to remove Fed Governor Lisa Cook and replace her with a more dovish candidate. On the industrial side, silver demand drew support from robust photovoltaic sector data in China. Recent figures showed Chinese...
The Australian dollar appreciated to above $0.650 on Thursday, extending its rally for the third consecutive session, supported by tempered expectations of another near-term rate cut from the Reserve Bank of Australia. Market pricing now implies only around 34 basis points of additional easing for the rest of 2025, with the likelihood of a September move slipping to about 25%. Analysts expect the central bank to wait until the November meeting before resuming its easing cycle. The Aussie also drew support from a softer US dollar, as traders ramped up bets on a September Fed rate cut after...
Gold dipped to around $3,380 per ounce on Thursday, retreating from a two-week high as investors awaited fresh policy signals ahead of Friday's PCE price index, the Fed's preferred inflation gauge. Nevertheless, the metal held near record levels, supported by political and institutional uncertainty between the US administration and the Federal Reserve. President Trump recently moved to dismiss Fed Governor Lisa Cook, but her lawyer vowed to challenge the decision in court, setting up a legal battle. Traders also increased bets on Fed easing, with markets pricing an 89% chance of a 25 bps...
The US dollar started Thursday (August 28th) weakly at $98.13 after market speculation increased that a Fed rate cut would occur in September, following a signal from New York Fed President John Williams that a cut was "possible." Pressure also stemmed from President Donald Trump's increasingly aggressive efforts to influence monetary policy, attempting to fire Fed Chair Lisa Cook and replace her with a more dovish figure. In the foreign exchange market, the DXY held steady at 98.135 after two days of declines. The euro edged up to $1.1646 despite the heated French political situation,...
Gold edges lower in early Asian trade as investors continue to weigh the impact of a legal battle between Trump and Fed governor Lisa Cook. However, gold demand in Asia remains robust, with China's July net imports via Hong Kong more than doubling from June, Traze.com analyst Osama Al Saifi notes. Investors will pay attention to U.S. PCE data due Friday. The data could shape expectations after Powell's dovish tone at Jackson Hole, Al Saifi adds. Spot gold is 0.1% lower at $3,396.56/oz. Source: Bloomberg
Oil edged lower as traders looked past US efforts to force India to quit buying Russian crude, and broader markets carried a risk-off tone. West Texas Intermediate fell below $64 a barrel, while Brent closed above $68. White House trade adviser Peter Navarro stepped up the pressure on New Delhi to halt purchases of Russian energy after Washington doubled a levy on imports from the country to 50%. Calling Indians "arrogant," he cast the conflict in Ukraine as "Modi's war," referencing the Indian prime minister. Financial markets including stocks were softer in...
The US dollar (USD) exchange rate experienced significant pressure in today's trading, following market concerns about the independence of the Federal Reserve (The Fed), the United States' central bank. News of President Trump's plan to dismiss Fed Chair Lisa Cook sparked widespread uncertainty among market participants. Reasons for the Dollar's Decline Political intervention in the Fed is considered to diminish the central bank's credibility and independence in monetary policymaking. This has the potential to impact investor confidence in the Fed's ability to control inflation and...
The USD/JPY pair loses ground to near 147.20 during the early Asian session on Thursday. The US Dollar (USD) weakens against the Japanese Yen (JPY) as worries persist over the Federal Reserve's (Fed) independence. Traders brace for the second estimate of US Q2 Gross Domestic Product (GDP) Growth Rate, followed by the weekly Initial Jobless Claims and Pending Home Sales reports. The Greenback remains on the defensive due to US President Donald Trump's attempt on Monday to fire Fed Governor Lisa Cook. On Tuesday, Trump said that he will soon have a "majority" of his own nominees on the Fed...
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....