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 held around $37 per ounce on Monday after gaining nearly 1% in the previous session, supported by rising expectations for a Fed rate cut following a weak US employment report for July. Data released Friday showed nonfarm payrolls rose by just 73,000, well below expectations, with a downward revision of 258,000 from previous months, signaling deeper labor market stress. The market is now almost fully pricing in a Fed rate cut in September, with more than 63 basis points of easing expected by the end of the year. A weaker dollar and falling US Treasury yields have further boosted...
The Japanese yen weakened toward 148 per dollar on Monday (August 4), weakening after the previous session's gains as investors reassessed the direction of US Federal Reserve policy. Although a weak US jobs report on Friday reinforced expectations of a near-term interest rate cut, Fed officials remained cautious, citing inflation risks associated with President Trump's massive tariffs. The dollar strengthened again as sentiment shifted, pressuring the yen. Meanwhile, markets awaited the minutes of the Bank of Japan's latest policy meeting for clues on the timing of a potential interest rate...
The Australian Dollar (AUD) strengthened against the US Dollar (USD) on Monday (August 4), extending its gains for the second consecutive trading day. The AUD/USD pair strengthened following the release of Australian inflation gauge data. The TD-MI Inflation Gauge rose 0.9% month-on-month in July, following a modest 0.1% increase in June and marking the sharpest increase since December 2023. Meanwhile, the annual inflation gauge remained consistent at 2.4%. This monthly increase adds to the Reserve Bank of Australia's (RBA) concerns amid ongoing uncertainty in supply chains and consumer...
The EUR/USD currency pair fell near 1.1550 in early trading on Monday, despite market reactions to the prospect of an interest rate cut by the Federal Reserve. This decline occurred after the euro had strengthened by around 1.5% in the previous session. The strengthening of the US dollar was the main driver of the euro's weakness, following the currency's recovery from losses suffered following the release of disappointing US employment data. US Nonfarm Payrolls (NFP) data in July showed an increase of only 73,000 jobs, well below the 110,000 expected. The previous month's figure was also...
Gold edged lower early in the Asian session on a technical correction after gold futures closed nearly 1.7% higher last Friday. However, gold's decline may have been limited by rising expectations of a Fed rate cut, which has strengthened the appeal of the non-yielding precious metal. Friday's employment data "was clearly a warning," said Fawad Razaqzada, market analyst at City Index and FOREX.com, in an email. "The Fed's dual mandate includes employment, and this data shows weakness. Fed pessimists are circling," the analyst added. Spot gold fell 0.1% to $3,356.81/oz. (alg) Source: Dow...
Oil prices slumped in early Asian trading on Monday (August 4th), after OPEC+ agreed to another large production increase in September. Brent crude fell 43 cents, or 0.62%, to $69.24 a barrel at 22:18 GMT, while U.S. West Texas Intermediate crude was at $66.94 a barrel, down 39 cents, or 0.58%, after both contracts closed about $2 a barrel lower on Friday. OPEC+ agreed on Sunday to increase oil production by 547,000 barrels per day for September, the latest in a series of accelerated production increases to regain market share amid growing concerns over potential supply disruptions linked...
The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, giving back most of its earlier gains despite broad weakness in the Greenback following a disappointing Nonfarm Payrolls (NFP) data. The AUD/USD initially surged nearly 70 pips after US jobs data surprised to the downside, but the momentum quickly faded as markets shifted focus to rising expectations of an interest rate cut by the Reserve Bank of Australia (RBA) at its upcoming meeting on August 12. The dovish outlook is keeping the Aussie pinned near multi-week lows. At the time of writing, the...
Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, while a weaker-than-expected U.S. jobs report fed worries about demand. Brent crude futures settled at $69.67 a barrel, down $2.03, or 2.83%. U.S. West Texas Intermediate crude finished at $67.33 a barrel, down $1.93, or 2.79%. Brent finished the week with a gain near 6%, while WTI rose 6.29%. Three people familiar with discussions among OPEC members and allied producers said the group may reach an agreement as early as Sunday to boost production by 548,000 barrels per day...
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....