Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S. West Texas Intermediate crude finished at $62.69, a gain of 32 cents, or 0.51%. Early in the day, crude reacted to the drone attack on Russia's northwestern port of Primorsk, which led to a suspension of oil loading operations overnight, an official from Ukraine's SBU security service said. "Those attacks on Russian energy infrastructure have room...
Gold price (XAU/USD) is seen consolidating its intraday losses to over a one-week low and trades just below the $3,350 level during the first half of the European session. The US Federal Reserve (Fed) earlier this week trimmed the outlook for rate cuts in 2026 and 2027, which, in turn, is seen acting as a tailwind for the US Dollar (USD) and undermining demand for the non-yielding yellow metal. Apart from this, a generally positive tone around the European equity markets turns out to be another factor exerting pressure on the Gold price. However, rising geopolitical tensions in the Middle...
Brent crude oil prices pared gains from the previous session and fell nearly $2 on Friday after the White House delayed a decision on U.S. involvement in the Israel-Iran conflict, but prices were still poised for a third straight week of gains. Brent crude was down $1.89, or 2.4%, at $76.96 a barrel by 0255 GMT. For the week, it was up 3.8%. U.S. West Texas Intermediate crude for July - which did not close on Thursday because of a U.S. holiday and ends on Friday - rose 53 cents, or 0.7%, to $75.67. The more liquid WTI for August was up 0.2%, or 17 cents, to $73.67. Oil prices jumped...
Silver (XA/USD) is seen extending its retracement slide from the highest level since February 2012 touched earlier this week and weakened for the third straight day on Friday (6/20). The downward trajectory dragged the white metal to its lowest level in over one week, around the $35.65 area during the Asian session. From a technical perspective, XAG/USD's failure to extend this week's up-move beyond the $37.00 mark and a subsequent decline below the 23.6% Fibonacci retracement level of the May-June rally favors bearish traders. Moreover, oscillators on the 4-hourly chart have been gaining...
Gold prices fell on Friday and were on track for a weekly decline, as an overall stronger dollar and prospects for fewer U.S. interest rate cuts offset support from rising geopolitical risks in the Middle East. Spot gold was down 0.5% at $3,355.49 an ounce, by 0245 GMT, and down 2.2% so far this week. U.S. gold futures were down 1% at $3,371.80. "There's a lot of uncertainty in the Middle East right now that's keeping traders from taking aggressive positions on either the long or short side of the spectrum," said Kelvin Wong, senior market analyst, Asia Pacific at OANDA. Middle East...
The USD/CHF pair lost momentum to around 1.3690, ending three consecutive days of gains during Asian trading hours on Friday (6/20). Concerns about the US involvement in the Middle East conflict fueled demand for the Swiss Franc (CHF), a safe-haven currency. The US Philly Fed Manufacturing Index will be published later on Friday. The conflict between Israel and Iran has entered its seventh day. The White House said that US President Donald Trump will make a decision in the next two weeks on whether to join Israel in the war. Uncertainty about the war raging in the Middle East and fears that...
EUR/USD extends its winning streak for the third straight day, trading around 1.1520 during Asian hours on Friday (6/20). The currency pair strengthened as the US dollar (USD) weakened, possibly on technical pullback. The US dollar could recover on increased safe-haven demand, driven by growing concerns over potential US involvement in an Israel-Iran air war. Iran has not yet decided whether to build a nuclear weapon, despite having developed a large stockpile of enriched uranium needed to make a bomb, according to a senior US intelligence official quoted by The New York Times. Meanwhile,...
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, extended its decline for the second straight day and traded lower around 98.70 at the time of writing. Traders are likely to gauge the Fed Monetary Policy Report, which is scheduled to be released on Friday. The Federal Reserve Board will submit a report to Congress containing a discussion of "the conduct of monetary policy and economic developments and prospects for the future." The US dollar may have strengthened again due to rising safe-haven demand, driven by growing concerns over...
The Australian dollar (AUD) retraced its recent decline on Friday (6/20). The AUD/USD pair remained firm after the release of the interest rate decision from China. However, the pair's gains could be limited due to weaker risk sentiment amid rising Middle East tensions. The People's Bank of China (PBOC) decided to leave the Loan Prime Rate (LPR) unchanged on Friday. The one-year and five-year LPRs were at 3.00% and 3.50%, respectively. US intelligence agencies believe that Iran has not yet decided whether to pursue nuclear weapons, despite having developed a large stockpile of enriched...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....