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 EUR/USD pair strengthened during the North American session, rising 0.16%, as rumors grew that the United States and the European Union (EU) would soon sign a deal similar to the one signed between Washington and Tokyo on Tuesday. At the time of writing, the pair was trading above 1.1770, after hitting a daily low of 1.1710. Trade news in the US was the main headline, keeping investors on edge as market sentiment fluctuated between risk-on and risk-off. The trade deal between Japan and the US, under which Japan would pay a 15% tariff on US imports, triggered the initial decline in...
Oil prices were little changed on Wednesday (July 23rd) as investors assessed trade developments between the European Union and the US after President Donald Trump reached a tariff deal, opening a new chapter with Japan. Brent crude futures closed 8 cents, or 0.12%, lower at $68.51 a barrel, while U.S. West Texas Intermediate crude fell 6 cents, or 0.09%, to $65.25 a barrel. On Wednesday, European Union officials said they were moving toward a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the US, avoiding the higher 30% tariffs scheduled to...
Gold prices continued to weaken on Wednesday (July 23rd) following reports that the US and the European Union were close to reaching a deal on 15% tariffs, which reduced demand for safe-haven assets. Meanwhile, silver had earlier surged to its highest level since September 2011. Spot gold fell 1.1% to $3,394.64 an ounce at 2:33 PM ET (18:33 GMT), after hitting its highest level since June 16th earlier. US gold futures closed down 1.3% to $3,397.60. "So, we're seeing a trade deal with Japan and also with the European Union. Ultimately, this means there are no major retaliatory tariffs from...
Gold fell after a three-day rally as US President Donald Trump's deal with Japan and reports of progress in negotiations with the European Union eased trade war fears that had fueled demand for safe-haven assets. Bullion fell as much as 1.4% after Trump said he would impose 15% tariffs on Japanese goods, while the Financial Times reported that the US and EU were close to reaching a similar agreement. The terms with Japan were better than most investors had expected, following tough negotiations. Commerce Secretary Howard Lutnick previously said that Japan's pledge to invest hundreds of...
The US dollar (USD) stabilized on Wednesday (July 23rd) after a sharp three-day decline. Traders appeared to be taking a breather as global trade tensions eased slightly after the US and Japan reached a trade deal ahead of the August 1st tariff deadline. At the same time, mounting political pressure on the Federal Reserve (Fed), with renewed criticism of Chairman Jerome Powell, has reignited concerns over the central bank's independence, keeping market sentiment fragile and the greenback weakening. The US Dollar Index (DXY), which measures the greenback's strength against six major...
Oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a U.S. tariff deal with Japan ahead of a U.S. stocks data announcement. Brent crude futures were down 35 cents, or 0.5%, at $68.24 a barrel as of 1246 GMT. U.S. West Texas Intermediate crude futures were down 33 cents, or 0.5%, at $64.98 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against U.S. tariffs. U.S. President Donald Trump said on Tuesday that the U.S. and Japan had struck a trade deal that...
Silver (XAG/USD) is treading water on Wednesday after a sharp two-day run to mark fresh multi-year highs. The metal consolidating just below the key $39.50 mark during the American trading hours. While bullish momentum remains intact, the pause comes as the US Dollar (USD) stabilizes on the back of a trade agreement between the United States and Japan, which has injected a dose of cautious optimism into broader markets and tilted sentiment toward risk-on. Despite the intraday slowdown, Silver still trades near 14-year highs, at levels last seen in September 2011, underlining the strength of...
Gold (XAU/USD is undergoing a modest pullback on Wednesday, as markets assess the implications of a United States (US)–Japan trade agreement and remain cautious ahead of further developments in the European Union (EU)–US negotiations. Despite the correction, XAU/USD is holding above the $3,400 mark, supported by lingering tariff risks and broader policy uncertainty. Attention now turns to incoming US economic data for near-term direction. The June Existing Home Sales report, on Wednesday, will provide insight into consumer resilience and housing market trends amid elevated interest...
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....