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 rose in Asian trading on Wednesday, lifted by optimism over a new U.S.-Japan trade deal and further supported by data showing a decline in U.S. crude stockpiles. As of 22:07 ET (02:07 GMT), Brent Oil Futures expiring in September rose 0.4% to $68.84 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.3% to $65.50 per barrel. Oil prices fell consecutively in the last three sessions amid the U.S.-EU trade conflict, and growing worries around President Donald Trump's August 1 tariff deadline. Japan trade deal lifts global growth outlook President Trump...
The dollar index stabilized around 97.5 on Wednesday, pausing a three-session slide as investors weighed the latest trade developments. President Donald Trump announced a trade agreement with Japan that includes a 15% tariff on Japanese exports to the US. He also said Japan will invest $550 billion into the US and open its markets to key American goods. Adding to the cautious optimism, Treasury Secretary Scott Bessent signaled that the current tariff truce with China is likely to be extended ahead of its August 12 expiration. The dollar had come under pressure in recent days amid rising...
The Australian Dollar (AUD) gains ground against the US Dollar (USD) on Wednesday, extending its winning streak for the fourth successive session. The AUD/USD pair appreciates amid improving market sentiment, driven by the US President Donald Trump's announcement of a major tariff deal with Japan, which includes a 15% tariff on Japanese exports. Additionally, talks between the United States (US) and China are gaining momentum ahead of the August 12 deadline. Westpac reports that its Leading Index continues to reflect weakening momentum. The six-month annualised growth rate in the...
The Japanese yen held its recent advance to around 146.5 per dollar on Wednesday, hovering at a near two-week high following news of a trade agreement between the US and Japan. The deal, announced by President Donald Trump, includes a 15% tariff on Japanese exports to the US. Trump also stated that Japan will invest $550 billion into the US and open its markets to key American goods. Prime Minister Shigeru Ishiba confirmed he had been briefed on the negotiations but offered no details, reaffirming his commitment to protecting the "national interest." Separately, reports suggested Ishiba is...
Gold held a three-day advance, as US President Donald Trump announced a highly-anticipated trade deal with Japan, signaling progress on fraught talks ahead of his Aug. 1 tariff deadline. Bullion traded near $3,430 an ounce — up 2.5% so far this week — as Trump announced it would impose 15% and 19% tariffs on goods from Japan and the Philippines, a strategic geopolitical ally. With several countries racing to secure trade deals, investors are seeking clarity specifically on progress with China. Treasury Secretary Scott Bessent said he will meet his Chinese counterparts...
Brent rose toward $69 a barrel after a three-day decline, while West Texas Intermediate was near $66 a barrel. President Donald Trump unveiled an agreement with the Philippines setting a 19% tariff and a deal with Japan that sets a 15% rate, fueling a rally in Asian shares and US stock futures. US Treasury Secretary Scott Bessent said he will meet his Chinese counterparts for trade talks in Stockholm next week, and will "be working out what is likely an extension" to the current Aug. 12 deadline for negotiations. He also said that the...
The dollar held losses against the yen on Wednesday after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline. Trump said the agreement will result in Japan investing $550 billion into the United States and a tariff rate of 15% was set on U.S. imports from Japan. With an August 1 deadline looming before the imposition of sweeping import duties on trade partners, U.S. Treasury Secretary Scott Bessent said on Monday the administration is more concerned with the quality of trade agreements than the timing. Asked whether the deadline could be...
GBP/USD strengthened for the second consecutive day on Tuesday (July 22nd), driven by a general weakening in the global US dollar market. The US dollar (USD) continued to suffer as investors grew concerned about US President Donald Trump's targeting of Federal Reserve Chairman Jerome Powell, and concerns about the Fed's weakening political autonomy have shaken the dollar's support. President Trump continues to campaign for the removal of Fed Chairman Powell. Lacking the legal authority to directly intervene with Fed staff, the Trump administration is actively seeking to build arguments for...
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....