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...
The GBP/USD pair started the new week on a calm note, consolidating its relatively strong recovery from the 1.3140 area, its lowest level since April 14, reached earlier this month. Spot prices traded just below the mid-1.3400s during the Asian session, remaining largely unchanged throughout the day, although the fundamentals appear to be tilted toward bullish traders. The Bank of England (BoE), as widely expected, cut interest rates by 25 basis points (bps) last week, bringing the benchmark interest rate down to 4%, its lowest level since 2023. However, the narrow 5-4 vote indicated...
EUR/USD strengthened slightly after posting losses in the previous session, trading around 1.1650 during the Asian session on Monday (August 11th). The pair was supported by a strengthening euro (EUR), driven by prevailing expectations that the European Central Bank (ECB) will end its easing cycle in September. Furthermore, the euro was supported by improving market sentiment due to the possible end to the Ukraine-Russia war. News of a possible Trump-Putin meeting next week has some hoping for a deal that could end hostilities in Ukraine. The EUR/USD pair also strengthened as the US dollar...
Gold futures in New York were steady as traders awaited clarification from the White House on its tariff policy, after a US government agency surprised markets last week by formally deciding that 100-ounce and one-kilogram gold bars would be subject to duties. Gold futures traded around $65 an ounce above the global spot benchmark on Monday, after surging to a record on Friday before erasing gains as the government told Bloomberg it would clarify what it called "misinformation" about tariffs on gold and other specific products. The price spread between trading centers in the US and London...
Oil prices fell after their biggest weekly drop since late June before a meeting between U.S. and Russian leaders on Friday, which raised the prospect of an end to the war in Ukraine and more supplies. Brent traded near $66 a barrel, after falling 4.4% last week, while West Texas Intermediate was above $63. President Donald Trump did not reveal additional sanctions on Russia, or tariffs on its energy buyers, when he announced the summit in Alaska, despite setting an August 8 deadline for the Kremlin to agree to a ceasefire. U.S. and Russian officials are working on a deal that would lock...
The EUR/USD consolidates near the week's highs, shy of testing the 1.1700 figure on a week in whichthe US Dollar is poised to finish the week with over 1.84% losses against its peers. The hangover of last week's US Nonfarm Payroll figures, and subsequent worse-than-expected employment data, underpins the Euro, due to increasing chances that the Federal Reserve (Fed) will resume its easing cycle. The EUR/USD trades at 1.1648, down 0.14% daily, as market mood is upbeat due to the chance that the Ukraine-Russia war could end. News of a possible Trump-Putin meeting next week leads some to...
The Australian Dollar (AUD) is consolidating gains against the US Dollar (USD) on Friday, buoyed by weakness in the Greenback amid growing expectations that the Federal Reserve (Fed) will cut interest rates in September, following soft labor market data and signs of a slowing US economy. At the time of writing, the AUD/USD pair is trading around 0.6520 during the American session, heading into the weekend poised to post weekly gains of approximately 0.80%. Meanwhile, the US Dollar Index (DXY), which tracks the value of the Greenback against a basket of six major currencies, remains pinned...
The Swiss Franc (CHF) remains subdued against the US Dollar (USD) on Friday, with USD/CHF hovering in a familiar range established this week, as traders weigh the latest US tariff decision targeting Swiss Gold exports and its potential fallout on Switzerland's economy and trade relations. At the time of writing, the pair is trading around 0.8080, struggling to break out decisively in either direction amid cautious market sentiment and diminished safe-haven demand, as risk-on mood prevails on the back of strong global equity markets. The spotlight is firmly on Switzerland's gold industry...
Oil prices edged lower on Friday and were poised for the steepest weekly losses since late June on reports of a deal between U.S. and Russia, and a tariff-hit economic outlook. Brent crude futures were down 7 cents at $66.36 a barrel by 11:18 a.m ET (1518 GMT). U.S. West Texas Intermediate crude futures eased 21 cents, or 0.3%, to $63.67. Brent was on track to fall 4.8% over the week, while WTI was set to finish 5.5% lower than last Friday's close. Washington and Moscow are aiming to reach a deal to halt the war in Ukraine that would lock in Russia's occupation of territory seized during...
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....