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 US Dollar is trading lower on Wednesday, weighed by a combination of renewed stagflation concerns following weak US macroeconomic data and investors' caution, awaiting Trump's nominee for the Fed Chair. The US President narrowed down the number of candidates to four after the rejection of Treasury Secretary Scott Bessent. The best positioned are the National Economic Council Director, Kevin Hassett, and former Governor Kevin Warsh, both proponents of an easier monetary policy. Governour Crhistopher Waller and David Malpass, a former Trump administration official and ex-president of the...
Gold prices eased on Wednesday as U.S. Treasury yields inched higher, while investors remained cautious ahead of President Donald Trump's Federal Reserve appointments. Spot gold was down 0.5% at $3,362.54 per ounce by 1047 GMT, after hitting a nearly two-week high on Tuesday. U.S. gold futures also fell by 0.5% to $3,417.30. Yields on benchmark 10-year Treasuries rose after four straight days of declines, reducing the appeal of non-yielding bullion. "Investors will be keeping a close eye on developments regarding White House appointments to the Federal Reserve and any trade-related news,...
The EUR/USD pair is consolidating gains near weekly highs as the US Dollar languishes, following an unexpectedly weak services sector report that cast further doubts on the momentum of the United States (US) economy. Renewed concerns about stagflation keep the US Dollar pinned near lows, while in Europe, retail consumption figures have failed to provide significant support to the Euro. The Euro (EUR) is trading at 1.1580 in the early European session on Wednesday, after bouncing from 1.1530 lows on Tuesday. The pair holds most of the gains taken on Friday after the release of a grim US...
The Pound Sterling (GBP) trades in a tight range around 1.3300 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair tracks a rangebound US Dollar as investors await the announcement of Federal Reserve (Fed) Governor Adriana Kugler's replacement, which should happen sometime this week after she announced her resignation on Friday. At the time of writing, the US Dollar index (DXY), which tracks the Greenback's value against six major currencies, wobbles around 98.80. On Tuesday, US President Donald Trump said to reporters that he will announce Fed...
Gold prices slipped slightly Wednesday, consolidating after four days of gains, as investors digested weak U.S. economic data as well as President Donald Trump's potential appointment to the Fed's board. At 04:30 ET (08:30 GMT), Spot Gold ticked down 0.4% to $3,366.50 an ounce and Gold Futures for December also lost 0.4% to $3,420.72/oz. Bullion has risen in the last four consecutive sessions, with marginal gains this week after a 2% jump on Friday. Gold supported by Fed cut hopes Gold prices have been supported of late by the potential of early interest rates cuts by the Federal...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining steady after two days of slight gains and trading around 98.80 during the European hours on Wednesday. Traders will likely observe the speeches from the Federal Reserve (Fed) policymakers later in the day, including Susan Collins, Lisa Cook, and Mary Daly. The Greenback may gain ground as traders adopt caution following US President Donald Trump's announcement on Tuesday that he will appoint the Fed's Chair and Kugler's replacement by the end of the week, and confirmed his...
Oil prices climbed on Wednesday, rebounding from a five-week low in the previous day, on concerns of supply disruptions after U.S. President Donald Trump's threats of tariffs on India over its Russian crude purchases. "There's still plenty of uncertainty over the U.S. imposing secondary tariffs on buyers of Russian oil ... market chatter is growing that China's purchases of Russian oil may come into focus next," ING commodity strategists said on Wednesday. "If India were to stop buying Russian oil amid tariff threats, we believe the market would be able to cope with the loss of this...
USD/CHF weakened after two days of gains, trading around 0.8070 during the Asian session on Wednesday (August 6th). The currency pair depreciated as the US dollar (USD) weakened due to strong dovish sentiment surrounding the Federal Reserve's (Fed) policy outlook. Traders will likely be watching upcoming speeches by Fed policymakers, including Susan Collins, Lisa Cook, and Mary Daly. The US Fed is expected to cut interest rates by 25 basis points in September, following weak labor market data that has raised concerns about the US economic outlook. The market continues to price in a above...
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....