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 yen has suffered a difficult month, but BCA Research thinks the Japanese currency is primed for a multi-year rally. At 08:30 ET (12:30 GMT), USD/JPY traded 0.2% lower at Y150.49, having earlier in the session climbed as high as Y150.91, the Japanese currency's lowest level since March 28. However, BCA Research sees the potential for a sharp recovery, basing its bullish cyclical thesis for the yen rests on three pillars: valuations, balance of payments, and policy normalization. The bank's long-term valuation models are unequivocal: the yen is attractively priced, especially versus the...
The EUR/USD surges more than 1% on Friday as the Greenback gets battered on a worse-than-expected jobs report in the United States (US), which triggered investors' reaction to price in two interest rate cuts by the Federal Reserve (Fed). Data across the pond was shrugged off by traders, which sent the pair from around lows of 1.1391 toward 1.1597. Wall Street extended its losses amidst fears of an economic slowdown in the US. July Nonfarm Payroll (NFP) figures were expected to be weaker compared to June's, but the downward revisions of the previous two months, alongside last month's print,...
Gold price rallies more than 1.50% on Friday following the release of a dismal Nonfarm Payrolls (NFP) report in the United States (US), which showed the jobs market is cooling faster than expected. Also, an escalation of geopolitical risks between Russia and the US prompted traders to buy Gold, which hovers near $3,350 at the time of writing. Market participants had begun to price in an interest rate cut by the Federal Reserve (Fed), following July's jobs data. Although the Unemployment Rate was nearly unchanged, cracks in the labor market vindicated Fed Governors Michelle Bowman and...
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...
Silver (XAG/USD) reverses early losses on Friday and climbs back above the $36.50 mark, buoyed by a broad-based sell-off in the US Dollar (USD) after the latest Nonfarm Payrolls (NFP) report surprised to the downside. The July Nonfarm Payrolls (NFP) report delivered a significant downside surprise. The US Bureau of Labor Statistics reported that the US economy added just 73,000 jobs, well below the 110,000 expected. Adding to the dovish tone, June's payrolls were revised sharply lower to 14,000 from a previously reported 147,000. The Unemployment Rate ticked higher to 4.2%, in line with...
Spot gold prices rose more than 1%, surpassing $3,340 an ounce on Friday (August 1), as the latest U.S. jobs report reinforced evidence of a cooling labor market and strengthened expectations of a Fed rate cut in September. The U.S. economy added only 73,000 jobs in July, short of the 100,000 projected by analysts, while the unemployment rate edged up to 4.2%, up from 4.1% in June. In response, the market now rates a 75% probability of a September rate cut, up sharply from 45% before the report. The data follows higher-than-expected PCE inflation figures released on Thursday, which...
Oil prices were little changed on Friday (August 1st) and headed for weekly gains as investors weighed the impact of further import tariffs imposed by US President Donald Trump and the threat of sanctions. Brent crude futures fell 26 cents, or 0.36%, to $71.44 a barrel at 12:12 GMT. US West Texas Intermediate crude fell 18 cents, or 0.26%, to $69.08. Crude oil prices stabilized on Friday after falling more than 1% in the previous session, although Brent and WTI remained on track for weekly gains of 4.4% and 6%, respectively. Investors have been focused on the potential impact of US...
Gold prices held steady on Friday (August 1st), but were set for a third consecutive weekly loss due to pressure from a stronger dollar and diminishing expectations for a US interest rate cut, while uncertainty surrounding US tariffs on trading partners provided support. Spot gold was steady at $3,293.56 per ounce as of 09:34 GMT. Bullion was down 1.4% for the week. US gold futures edged down 0.1% to $3,344.60. The dollar index hit its highest level since May 29, making gold more expensive for holders of other currencies. "Gold remains weighed down by diminishing speculation of a Fed rate...
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....