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...
Gold price recovered some ground on Tuesday, climbing 0.20% following the release of July's inflation print in the United States (US). Although prices had risen, Bullion's was supported by US President Donald Trump's remarks threatening the Federal Reserve's (Fed) independence. The XAU/USD trades at $3,348 at the time of writing. The US Consumer Price Index (CPI) for July missed estimates in its headline print YoY and increased the odds for a rate cut. However, the core CPI, which excludes volatile items, jumped above the 3% threshold YoY. Initially, XAU/USD fell toward its daily lows but...
The Australian Dollar (AUD) recovers ground against the US Dollar (USD) on Tuesday, with the Reserve Bank of Australia's (RBA) interest rate cut decision overshadowed by broad Greenback softness following mixed US Consumer Price Index (CPI) figures. At the time of writing, the AUD/USD pair is trading around 0.6530 during the American trading hours. Meanwhile, the US Dollar is also weighed down by political noise after President Donald Trump said on Truth Social he is "considering allowing a major lawsuit against Fed Chair Jerome Powell" and even suggested he "would sue Powell over...
The Swiss Franc (CHF) strengthens against the US Dollar (USD) on Tuesday, with USD/CHF drifting lower as mixed US inflation data reinforced expectations of a Federal Reserve (Fed) rate cut in September. Sentiment toward the Greenback was further dented after US President Donald Trump threatened to pursue legal action against Fed Chair Jerome Powell, escalating political pressure on the central bank. At the time of writing, USD/CHF is trading near 0.8080, down around 0.50% on the day, while the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, is...
Gold (XAU/USD) steadies on Tuesday after slipping to a fresh one-week low. At the time of writing, the precious metal is trading near $3,350 during American hours, recovering modestly after marking an intraday low of $3,331, pressured by rising US Treasury yields and a risk-on sentiment in global markets, which are offsetting support from a softer Greenback after the release of the latest US inflation data. Data from the US Bureau of Labor Statistics showed headline Consumer Price Index (CPI) rose 0.2% MoM in July, matching expectations and slowing from June's 0.3% gain. On an annual basis,...
Silver prices hovered at $37.7 per ounce on Tuesday, extending its strong momentum since the start of the year amid signs of strong industrial demand and the prospect of a Federal Reserve interest rate cut. China installed more than 93 gigawatts of solar panels in May, surging 300% year-on-year to a new record high before a series of new policy changes made it more difficult to connect panels to the grid. Additionally, the State Grid Corporation of China stated it would invest more than $90 billion in the power grid this year to prevent solar power curtailments, aiming to ease concerns...
Gold futures are down 0.2% following the release of the July CPI, with the data causing traders to pare the downward move seen heading into this morning. The year-over-year move in consumer prices was less than forecast by economists, while core inflation at 3.1% was above forecasts. The numbers have investors embracing a risk-on attitude, says XMArabia in a note. "The fact that inflation is unchanged… means that the odds are high for a rate cut and this is pushing the prices higher," says XMArabia. Source: Bloomberg
A Bloomberg gauge of the dollar fell after US consumer inflation figures largely matched expectations, sending Treasury yields lower across the curve. Traders added to bets on a September interest-rate cut by the Federal Reserve. The Bloomberg Dollar Spot Index down 0.3%; two-year Treasury yield falls 6bp to 3.71% US headline CPI rose 0.2% MoM (0.2% forecast); core CPI rose 0.3% MoM (0.3% expected) Headline YoY CPI came in at 2.7% versus 2.8% forecast Read more: US Core CPI Picks Up to Fastest Pace Since January on Services "Inflationary pressures look very...
Oil prices fell to the lowest in more than two months early on Tuesday as rising supply continues to offset strong summer demand. West Texas Intermediate crude oil for September delivery was last seen down US$0.44 to US$63.52 to US$63.52, the lowest since June 5, while October Brent crude was down US$0.34 to US$66.29. The drop comes as the market continues to grapple with rising supply, as OPEC+ completes the return of 2.2-million barrels per day of production cuts with a final tranche of 548,000 bpd in September, boosting output despite rising production from North and South America and...
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....