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 (USD) held firm on Tuesday (July 29th) after posting its strongest daily gain since May, gaining 1.0% on Monday. This rally came after the United States (US) and the European Union (EU) announced the framework for a major trade deal on Sunday. The market welcomed the news, viewing the agreement as highly beneficial to Washington. Investors are betting that the deal will give the US greater economic and strategic power, boosting confidence in the greenback. The US Dollar Index (DXY), which measures the greenback against a basket of six major currencies, consolidated Monday's...
Oil prices edged higher on Tuesday (July 29th) amid optimism that the trade war between the United States and its major trading partners is easing and as President Donald Trump increases pressure on Russia over its war in Ukraine. Brent crude futures rose 22 cents, or 0.3%, to $70.26 a barrel at 12:18 GMT, after touching their highest level since July 18th, while U.S. West Texas Intermediate crude was at $66.98, up 27 cents, or 0.4%. Both contracts closed more than 2% higher in the previous session. The trade agreement between the United States and the European Union, despite imposing 15%...
Gold held steady as investors prepared for the Federal Reserve's policy decision, a series of key economic data, and the outcome of US trade negotiations. Gold bullion prices traded in a narrow range on Tuesday after weakening in the previous session amid a rally in the dollar. Although the deal announced Monday between the US and the European Union initially eased fears of a trade war, the asymmetric nature of the agreement has dampened expectations for economic growth outside the US. With President Donald Trump's August 1 tariff deadline approaching, several other trading partners,...
Oil prices edged higher on Tuesday (July 29th) amid optimism that the trade war between the United States and its major trading partners is easing and as President Donald Trump increases pressure on Russia over its war in Ukraine. Brent crude futures rose 47 cents, or 0.7%, to $70.51 a barrel at 09:24 GMT, after touching their highest level since July 18th, while U.S. West Texas Intermediate crude was at $67.24, up 53 cents, or 0.8%. Both contracts closed more than 2% higher in the previous session. The trade agreement between the United States and the European Union, despite imposing 15%...
Gold prices rose on Tuesday (July 29th) as initial euphoria over the US-EU trade truce subsided, while investors awaited the upcoming Federal Reserve policy meeting for clarity on the direction of US interest rates. Spot gold prices rose 0.4% to $3,327.30 per ounce, as of 08:27 GMT. Bullion hit its lowest level since July 9th on Monday. US gold futures rose 0.5% to $3,325.40. "We see market sentiment starting to improve after some trade deals, but there are still some hurdles to overcome," said Ricardo Evangelista, senior analyst at brokerage firm ActivTrades. "If the US and China fail to...
USD/CHF continued its strengthening for the second consecutive session, trading around 0.8060 during the European session on Tuesday (July 29). The currency pair strengthened as the US dollar (USD) was supported by trade optimism, driven by recent trade developments between the United States (US) and its trading partners. The United States and the European Union (EU) reached a finalized trade deal on Sunday, setting a 15% tariff on most European goods, which will take effect on August 1. Furthermore, market sentiment improved due to expectations that the US and China would extend the...
The Pound Sterling (GBP) holds onto losses near its two-month low around 1.3350 against the US Dollar (USD) during the European session on Tuesday. The GBP/USD pair faces selling pressure as the US Dollar trades firmly after officials from the United States (US) and the European Union (EU) approved a trade agreement ahead of the August 1 tariff deadline over the weekend. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades close to a weekly high near 98.70. The appeal of the US Dollar has strengthened as the US-EU trade...
Silver prices remained under pressure on Tuesday, holding below $38.20 per ounce and hovering near two-week lows as a strong US dollar continued to weigh on the market. The dollar's strength was supported by recent global trade agreements that are widely seen as favoring the US economy. On Monday, President Donald Trump warned that countries failing to negotiate separate trade deals could soon face tariffs of 15% to 20%, well above the 10% headline rate introduced in April. Meanwhile, investors remained focused on the ongoing US-China trade talks in Stockholm, with both sides aiming to...
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....