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...
Oil prices fell on Friday as concerning economic data from the U.S. and China, the world's two largest oil users, increased worries about fuel demand while investors also await the summit between U.S. President Donald Trump and Russian leader Vladimir Putin. Brent crude futures fell 39 cents, or 0.58%, to $66.45 a barrel by 0750 GMT. U.S. West Texas Intermediate crude futures declined 42 cents, or 0.66%, to $63.54. For the week, WTI is set to drop 0.5% while Brent is set to decline 0.2%. Chinese government data released on Friday showed factory output growth slumped to an eight-month low...
Gold prices gained on Friday, helped by a pullback in the dollar, although bullion was headed for a weekly fall as hotter-than-expected U.S. inflation data dented expectations for a super-sized 50-basis-point (bps) Federal Reserve rate cut. Spot gold rose 0.2% to $3,341.90 per ounce as of 0653 GMT. Bullion has lost 1.5% for the week. U.S. gold futures for December delivery gained 0.1% to $3,387.60. "Gold is still grappling with the aftermath of the PPI jump, which raised questions over just how far the Fed may be inclined to reduce rates this year," said Tim Waterer, chief market analyst...
Gold prices are expected to decline for the week on Friday (August 15th), as higher-than-expected US inflation data dampened expectations for a 50 basis point (bps) Fed rate cut in September. Spot gold prices rose 0.1% to $3,339 per ounce at 02:44 GMT. Bullion prices have fallen 1.8% over the week. US gold futures for December delivery were flat at $3,384. "Gold is still grappling with the impact of the surge in PPI, which raises questions about how much the Fed is willing to cut rates this year," said Tim Waterer, chief market analyst at KCM Trade. The US producer price index (PPI) rose...
The Australian Dollar (AUD) remained weak against the US Dollar (USD) on Friday (August 15th), following disappointing key economic data from China, Australia's main trading partner. AUD/USD weakened more than 0.5% in the previous session as the US Dollar strengthened following stronger US economic data. China's Retail Sales rose 3.7% year-on-year (yoy) in July, lower than the 4.6% forecast and 4.8% in June. Meanwhile, Industrial Production increased 5.7% YoY, compared to the 5.9% and 6.8% forecasts. The weakness of the AUD/USD pair is likely limited as the US Dollar weakened amid growing...
Silver prices (XAG/USD) held below US$38 per troy ounce on Friday, after plunging more than 1% in the previous session. Pressure persisted as higher-than-expected US producer price inflation (PPI) dampened hopes for a significant Fed rate cut in September and kept interest in non-yielding assets low. Data-wise, weekly jobless claims came in at 224,000, better than the 228,000 forecast, indicating a still-resilient labor market. The combination of a hot PPI and solid claims has reduced the urgency for aggressive easing, reinforcing the "soft landing" narrative among market...
Gold is headed for a weekly loss, as traders scale back bets on a Federal Reserve interest rate cut next month following rising inflation. Gold bullion traded near $3,335 an ounce, after ending the previous session 0.6% lower following a report showing US wholesale inflation rose in July at its highest pace in three years. Treasury yields and the dollar strengthened after the data, weighing on non-interest-bearing gold as it is priced in that currency. Swap traders now see about a 90% chance the US central bank will cut interest rates in September, having fully priced in such a move...
Oil prices were steady throughout the day and week, with investors focused on the meeting between the US and Russian presidents on Friday night. West Texas Intermediate crude traded near $64 a barrel after surging 2.1% in the previous session to offset losses earlier in the week, while Brent closed above $66 in thin trade. Vladimir Putin ramped up his appeal before the summit in Alaska, while Donald Trump sought to dampen hopes for a breakthrough. Any sign of easing US sanctions on Russian energy could lead to a further decline in oil prices, which have fallen about 10% this year amid...
GBP/USD recoiled from rising US inflation metrics on Thursday, sending the US Dollar (USD) broadly higher and snapping a two-day winning streak in the Cable-Dollar pairing. GBP/USD saw its largest single-day decline in over two weeks, pushing the pair back toward 1.3500 after flubbing a technical push toward 1.3600. Despite getting trimmed lower by around one-third of one percent, GBP/USD is still holding firmly onto the bullish side. Cable is still trading well above the 200-day Exponential Moving Average (EMA) near 1.3170, and immediate technical support is priced in at the 50-day EMA...
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....