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 steadied on Thursday, paring early gains after the Kremlin announced that Russian President Vladimir Putin will meet U.S. President Donald Trump in the coming days, raising expectations for a diplomatic end to the war in Ukraine. Brent crude futures were up 21 cents, or 0.3%, at $67.1 a barrel by 0902 GMT while U.S. West Texas Intermediate crude gained 20 cents, or 0.3%, to $64.55. Both benchmarks slid about 1% on Wednesday, touching their lowest in eight weeks, after comments from Trump on progress in talks with Moscow. Kremlin aide Yuri Ushakov said on Thursday that Trump and...
Gold prices edged higher Thursday, aided by growing safe-haven demand after fresh tariff threats from U.S. President Donald Trump and weak U.S. economic data, which renewed bets on a Federal Reserve interest rate cut. At 04:30 ET (08:30 GMT), Spot Gold edged up 0.1% to $3,373.80 an ounce, while Gold Futures for December gained 0.4% to $3,447.90/oz. Trump threatens semiconductor tariffs Investor appetite for bullion strengthened after Trump said the U.S. would impose a 100% tariff on imported semiconductors from certain countries unless they invest in American chip manufacturing. The...
Sterling rose against a weakening dollar on Thursday with the markets watching whether the Bank of England will maintain its "gradual and careful" language on the pace of policy easing at its meeting due later in the day. That slow and steady path no longer looks so clear, with inflation above the BoE's projections and forecast by some economists to reach 4%, double the bank's target, in the coming months. Markets expect a 25-basis point rate cut, while pricing a total of 86 bps of rate cuts by December 2026. "Recent Monetary Policy Committee (MPC)-speak has leaned dovish, although it has...
The USD/CHF pair traded with a negative bias for the third consecutive day, despite the lack of further selling amid mixed fundamental signals. Spot prices managed to hold above their weekly low throughout the Asian session on Thursday and are currently trading just above the mid-0.8000s, down 0.10% for the day. The US dollar (USD) weakened to near a one-and-a-half-week low amid growing acceptance that the Federal Reserve (Fed) will resume its interest rate cutting cycle in September. This bet was reaffirmed by Friday's weaker-than-expected US Nonfarm Payrolls (NFP) report and Tuesday's...
World oil prices rose slightly on Thursday (August 7th) after experiencing a five-day decline, the longest decline since May. This increase occurred as investors monitored the US's move to impose sanctions on countries buying Russian oil, as well as President Donald Trump's diplomatic efforts to end the war in Ukraine. Brent crude prices rose above $67 per barrel, while West Texas Intermediate (WTI) hovered around $65. Trump previously doubled tariffs on Indian products in response to Russian energy purchases and opened the possibility of similar measures against China. On the supply side,...
Gold strengthened on Thursday (August 7), supported by renewed safe-haven demand after US President Donald Trump imposed additional 25% tariffs on Indian imports, escalating trade tensions. Spot gold rose 0.3% to $3,378.18 per ounce at 04:52 GMT. US gold futures rose 0.4% to $3,445.60. "Trump has issued new tariff threats, which keeps gold a top choice as a defensive strategy for investors," said Tim Waterer, chief market analyst at KCM Trade. "Gold is hovering near the psychological $3,400 level, with risk assets somewhat swayed by the US president's continued tariff announcements." On...
The Japanese Yen (JPY) weakens slightly during the Asian session on Thursday in reaction to reports that US President Donald Trump could impose an additional 15% tariff on all Japanese imports. This, along with the uncertainty over the likely timing of the next interest rate hike by the Bank of Japan (BoJ) and a generally positive risk tone, undermines the safe-haven JPY. Apart from this, a modest US Dollar (USD) bounce from over a one-week low touched on Wednesday pushes the USD/JPY pair back above mid-147.00s in the last hour. Meanwhile, the BoJ last week left the door open for a further...
The US Dollar Index (DXY), which measures the value of the US dollar (USD) against six major currencies, held steady after dropping more than 0.5% in the previous session. The DXY traded around 98.20 during the Asian session on Thursday (August 7th). Weekly US Initial Jobless Claims are likely to be monitored later in the North American session. Traders are awaiting further developments surrounding the next US Federal Reserve (Fed) Chair. US President Donald Trump announced on Tuesday that he will name a Fed Chair and Kugler's replacement by the end of the week. Trump is considering White...
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....