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 fell on Wednesday (July 30th) as investors awaited developments on US President Donald Trump's tighter deadline for Russia to end the war in Ukraine and his threat of tariffs on countries that trade its oil. The most active Brent crude futures fell 58 cents, or 0.81%, to $71.10 a barrel at 10:14 a.m. GMT, while US West Texas Intermediate crude fell 58 cents, or 0.84%, to $68.63. The September Brent crude contract, which expires on Wednesday, fell 59 cents, or 0.81%, to $71.92. Both contracts had hit their highest prices since June 20th on Tuesday. Trump said on Tuesday that he...
Gold prices edged higher on Wednesday (July 30th), boosted by a slightly weaker dollar as investors awaited the Federal Reserve's policy decision and comments that could provide further clues about the timing of the US central bank's next move. Spot gold rose 0.2% to $3,331.03 an ounce, as of 08:28 GMT. US gold futures rose 0.1% to $3,328.30. The dollar index, weakened 0.1% after hitting a more than one-month high on Tuesday, making gold cheaper for holders of other currencies. "There are a variety of factors that, combined, are keeping gold prices subdued. From a geopolitical perspective,...
The US dollar index weakened on Wednesday (July 30th), snapping a four-day winning streak as investors remained cautious ahead of the Federal Reserve's policy meeting, following a sharp reaction to the US-EU trade deal earlier this week. Meanwhile, the euro was poised to post its first monthly decline since December 2024. The Japanese yen strengthened against the dollar after a powerful earthquake struck the Kamchatka Peninsula in Russia's Far East and triggered a tsunami, prompting evacuation warnings across much of Japan's eastern coast. Forex markets were largely stable as investors...
The EUR/USD pair fluctuates near a one-month low and is on track for its first monthly decline since December of last year. The euro remains weak, weighed down by negative reactions to the trade deal between the European Union (EU) and the United States (US). Investors are also eyeing the latest second-quarter GDP figures from major European economies, with France growing higher than expected and Germany recording a mild contraction. Eurozone Gross Domestic Product (GDP) figures and the Federal Reserve's interest rate decision are due soon. The euro (EUR) posted a slight recovery from a...
Silver prices held around $38 per ounce on Wednesday, hovering near two-week lows as investors remained cautious ahead of the Federal Reserve's policy announcement. The Fed is widely expected to keep interest rates unchanged, though markets are closely watching for signals of a possible rate cut in September. President Donald Trump has continued pressuring the Fed to lower borrowing costs. Fed Governors Christopher Waller and Michelle Bowman, both seen as potential successors to Fed Chair Jerome Powell. are expected to dissent at this month's meeting. Meanwhile, trade tensions persisted...
Oil prices took a breather in Asian trade on Wednesday after the previous session's spike of more than 3%, as investors awaited developments from U.S. President Donald Trump's tighter deadline for Russia to end the war in Ukraine. Most active Brent crude futures rose 8 cents, or 0.12%, to $71.81 a barrel by 0419 GMT, while U.S. West Texas Intermediate crude gained 8 cents, or 0.12%, to $69.29 a barrel. The Brent crude September contract expiring on Wednesday was up 18 cents at $72.69 per barrel. Both contracts had settled on Tuesday at their highest since June 20. On Tuesday, Trump said...
Gold prices edged up on Wednesday, supported by lower Treasury yields and a slight pullback in the dollar, while investors await the Federal Reserve's policy decision later in the day for guidance on the monetary policy trajectory. Spot gold was up 0.1% at $3,328.65 per ounce as of 0422 GMT. U.S. gold futures rose 0.1% to $3,326.10. "There could be a chance that the Fed may start to tilt towards the dovish side of the pendulum, and that is being portrayed on the Treasury yields," OANDA senior market analyst Kelvin Wong said, adding that dollar strength has also eased for now. The U.S....
The Japanese Yen (JPY) edges higher against the retreating US Dollar (USD) during the Asian session on Wednesday and moves away from a one-week low touched the previous day. The upside for the JPY, however, seems limited as traders might opt to move to the sidelines ahead of key central bank events. The Federal Reserve (Fed) will announce its decision at the end of a two-day meeting later today. This will be followed by the Bank of Japan (BoJ) policy update on Thursday. Given that both central banks are expected to keep interest rates steady, investors will look for cues about the policy...
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....