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 prices weakened slightly on Wednesday (August 6th) as the dollar strengthened slightly, while investors refrained from placing large bets ahead of US President Donald Trump's decision on Fed official appointments. Spot gold fell 0.1% to $3,376.01 an ounce, as of 03:12 GMT, after hitting a near two-week high on Tuesday. US gold futures fell 0.1% to $3,431.10. The dollar rebounded from a one-week low reached in the previous session, reducing gold's appeal for holders of other currencies. "We see that gold prices are consolidating and are actually biased slightly upward," said Brian Lan,...
Silver (XAG/USD) prices remained stable after posting gains in three consecutive sessions, trading around $37.80 per troy ounce during the Asian session on Wednesday (August 6th). Technical analysis of the daily chart shows the precious metal moving upward within an ascending channel pattern, indicating a persistent bullish bias. The 14-day Relative Strength Index (RSI) is above 50, reinforcing the bullish bias. However, silver is trading below the nine-day Exponential Moving Average (EMA), indicating weakening short-term price momentum. On the upside, the XAG/USD pair is likely to explore...
The US Dollar Index (DXY), a measure of the value of the US dollar (USD) against a basket of six global currencies, traded slightly higher near 98.80 during Asian trading hours on Wednesday (August 6th). Traders are preparing for speeches from Federal Reserve (Fed) policymakers, including Susan Collins, Lisa Cook, and Mary Daly, later this month. The DXY remained strong as traders continue to assess global trade developments, which could trigger renewed market volatility. US President Donald Trump's latest trade deadline also falls on Friday, when a new round of high tariffs will take...
The Japanese Yen (JPY) oscillated within a range against the US currency during the Asian session on Wednesday (August 6th), moving little following the release of less-than-impressive macro data. Japan's inflation-adjusted real wages fell for the sixth consecutive month in June, fueling concerns about a consumption-driven recovery. This occurred amid domestic political uncertainty and dampened speculation of an imminent interest rate hike by the Bank of Japan (BoJ). Furthermore, signs of stability in the equity market have hampered the JPY's safe-haven stance. Meanwhile, the BoJ revised...
Gold held its longest streak of gains since February, boosted by fears of a US economic slowdown that have increased haven demand, along with traders' bets on lower interest rates. Bullion was steady at around $3,383 an ounce in early Asian trading, after gaining more than 3% over the previous four trading sessions. In the US, the latest sign of tariff-inflicted damage on the economy came from data that showed the services sector effectively stagnated in July. Other figures last week highlighted a weak labor market and consumer spending. Signs of...
Oil prices held a four-day decline as investors shrugged off President Donald Trump's threat to impose secondary tariffs on Russian energy buyers, while US data pointed to weaker conditions in the world's largest economy. West Texas Intermediate crude traded near $65 a barrel after falling nearly 7% over four sessions, while Brent closed below $68. Trump hinted at higher tariffs on countries buying oil from Moscow possibly including China after saying he would raise levies on Indian exports within 24 hours. US special envoy Steve Witkoff is expected to travel to Russia to meet with...
The EUR/USD holds firm during the North American session on Tuesday, with traders still digesting the latest employment figures in the United States (US) and the release of further US data. Across the pond, HCOB Flash PMI numbers were mixed across the European Union (EU) yet failed to push the Euro higher against the US Dollar. At the time of writing, the pair trades at 1.1573, unchanged. Further developments, during the session, revealed that US President Donald Trump was considering nominating the US Treasury Secretary Scott Bessent to the vacant spot on the Federal Reserve, following...
Gold price advances during the North American session as speculation grows that the Federal Reserve (Fed) could begin to cut rates at the next meeting. At the same time, investors await US President Donald Trump's appointment of a new Fed Governor. The XAU/USD trades at $3,381, up 0.20%. Since last Friday, Bullion prices have recovered after July's Nonfarm Payrolls (NFP) report revealed a significant downward revision to May and June figures. Investors, caught off guard, began to price in the first 25-basis-point rate cut at the September meeting. On Tuesday, the Institute for Supply...
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....