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 prices (XAG/USD) strengthened slightly to around $37.90 in Asian trading on Tuesday (August 12th), driven by expectations that the US Federal Reserve will cut interest rates at its upcoming September meeting. This optimism arose after US employment data for July showed weakness, reinforcing the view that the central bank would shift to a more accommodative monetary policy. Dovish statements from Fed officials also weakened the US dollar, thus supporting the strengthening of dollar-denominated commodities like silver. Lower interest rates reduce the opportunity cost of holding...
Oil prices were little changed as investors weighed President Donald Trump's delay of high US tariffs on China against the likely outcome of his meeting with Russia's Vladimir Putin. Brent crude traded near $67 per barrel, while West Texas Intermediate was around $64. Prices remained near two-month lows after a sluggish trading session on Monday and low volumes at the start of the Asian session. Trump signed an order extending a ceasefire with China until November 10, delaying a scheduled tariff increase on Tuesday. Traders were looking ahead to a meeting between Trump and Putin later this...
The Australian Dollar (AUD) held its ground against the US Dollar (USD) on Tuesday ahead of the Reserve Bank of Australia's (RBA) interest rate decision. The AUD/USD pair is likely to strengthen as US President Donald Trump has extended the China tariff deadline for another 90 days. The Reserve Bank of Australia (RBA) is expected to announce a 25 basis point (bps) interest rate cut to 3.6% from 3.85% at its August monetary policy meeting. Traders will likely be watching the Monetary Policy Statement, followed by a press conference by RBA Governor Michele Bullock. The Trump administration...
Gold strengthened in early Asian trading amid a possible technical recovery after its sharpest drop in three months on Monday. The rise came after a post on US President Trump's Truth Social account clarified that the precious metal would not be subject to tariffs. Last Friday, gold surged to an all-time high following reports that bullion might be subject to tariffs. Meanwhile, traders are likely to closely monitor the US July CPI data due later today for clues on the Fed's interest rate direction. Spot gold prices rose 0.2% to $3,347.81/oz. Source: Dow Jones Newswires
Oil was little changed after President Donald Trump extended a pause of sky-high tariffs on China, stabilizing trade ties between the world's two biggest economies. West Texas Intermediate traded near $64 a barrel, near the lowest in two months, while Brent closed above $66 in a subdued session on Monday. Trump signed an order extending the truce with China by 90 days, according to a person familiar with the matter. Oil is down more than 10% this year as traders grapple with a surplus in the market after OPEC+ reversed a supply cutback made in 2023, despite signs of slowing...
The EUR/USD edges lower on Monday, down 0.26% as the Greenback is bought by traders ahead of another inflation report in the United States (US) coming Tuesday. This, along with Italy's revelation that prices reached the European Central Bank's (ECB) target, justifies the need to hold rates even at the next meeting. The pair trades at 1.1615 after hitting a daily high of 1.1675. The shared currency halted its advance, even though talks between US President Donald Trump and Russian President Vladimir Putin are expected to show progress on a possible ceasefire in Ukraine. A favorable...
Gold price dives during the North American session as traders waited for the White House resolution on duties over physical Bullion bars, which triggered a downturn last Friday in the futures market. Traders awaiting the release of inflation data in the United States (US) pushed spot prices down. At the time of writing, XAU/USD trades at around $3,360, down over 1.20%. Demand for Gold took a hit due to speculation that the meeting between US President Donald Trump and his Russian counterpart, Vladimir Putin, on Friday could unveil a truce plan in Ukraine. The recovery of the US Dollar amid...
The U.S. dollar firmed across the board on Monday, a day before the release of a U.S. inflation report that could help determine whether the Federal Reserve lowers borrowing costs next month. The dollar index was up 0.3% at 98.52 after last week's 0.4% fall. Against the yen, the U.S. currency traded at 148.085, up 0.2%. Japanese markets were closed on Monday for the Mountain Day holiday. The euro was down 0.3% at $1.16123, while sterling was down 0.2% at $1.34335. "The buck is trading a little firmer against all peers, though the moves are overall modest in nature," said Michael Brown,...
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....