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...
Gold prices edged down to around $3,380 on Tuesday but remained close to a five-week high reached in the previous session, amid lingering uncertainty ahead of President Donald Trump's August 1 tariff deadline. Attention is now on the EU-US trade negotiations this week, as they seek to clinch a trade deal before the deadline, when Trump has threatened to hit most of the bloc's exports with 30% tariffs. Meanwhile, the bloc is preparing a broader set of possible countermeasures against the US in a scenario where there is no agreement. On the monetary policy front, the European Central Bank is...
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Tuesday after two days of losses. The AUD/USD pair remains subdued following the release of the Reserve Bank of Australia's (RBA) Meeting Minutes. The RBA Minutes of its July monetary policy meeting highlighted that the board agreed further rate cuts warranted over time, with attention centered on timing and extent of easing. The majority believed to await confirmation on inflation slowdown before easing. Most members felt cutting rates three times in four meetings would not be "Cautious and gradual." Traders are...
The Japanese yen hovered around 147.5 per dollar on Tuesday after gaining about 1% in the previous session, as investors continued to digest the weekend's election outcome. While the ruling coalition lost its majority in the upper house, the result was largely priced in. Crucially, Prime Minister Shigeru Ishiba is expected to stay in office, easing fears of political instability or a sudden resignation. Ishiba reiterated his commitment to overseeing ongoing tariff talks with the US and managing other key policy matters. Meanwhile, opposition parties are expected to push for increased...
Gold held near the highest in a month, as risk-off sentiment returned among investors watching the progress of trade negotiations ahead of US President Donald Trump's Aug. 1 tariff deadline. Bullion traded near $3,395 an ounce after closing 1.4% higher in the previous session, as concerns about Trump's next trade moves reignited demand for havens. White House Press Secretary Karoline Leavitt on Monday said the president may issue more unilateral tariff letters before Aug. 1. The dollar had its worst day in nearly a month, making gold cheaper for most...
The dollar traded in a tight range on Tuesday after a brief fall at the start of the week, as investors watched out for any progress on trade talks ahead of an August 1 deadline for countries to strike deals with the U.S. or face steep tariffs. The yen mostly held to gains from the previous session following results from a weekend upper house election in Japan that proved no worse than what had already been priced in, as focus now turns to how quickly Tokyo can strike a trade deal with Washington and Prime Minister Shigeru Ishiba's future at the helm. The Japanese currency was last a touch...
Oil was little changed after two modest declines as talks between the US and its trading partners gain urgency ahead of next week's deadline. West Texas Intermediate traded near $67 a barrel after closing lower for two sessions, while Brent settled near $69.European Union and US negotiators are heading into another week of intensive talks as they seek to clinch a trade deal by Aug. 1, when President Donald Trump has threatened to hit most of the bloc's exports with 30% tariffs. Meanwhile, US Treasury Secretary Scott Bessent said the next round of US-China talks could include a discussion...
The EUR/USD pair surged on Monday (July 22nd), gaining more than 0.50%, as the US dollar weakened, pressured by falling US Treasury yields and trade uncertainty ahead of the August 1st deadline. This triggered an outflow of the greenback, as the pair traded at 1.1694 after bouncing from a daily low of 1.1614. The market mood was upbeat as investors awaited earnings reports from two megacap companies in the United States. Trade tensions between the European Union (EU) and the US have escalated as EU diplomats explore a broader range of retaliatory measures against the US, as the chances of...
The US dollar (USD) started the week weaker, weakening against other major currencies in trading on Monday (July 22). Investors reacted to renewed trade tensions ahead of the August 1 deadline and generally cautious market sentiment. Although US economic data has been largely solid of late, the greenback is feeling pressure from continued uncertainty surrounding the Trump administration's escalating tariff threats and growing political pressure on the Federal Reserve (Fed) to cut interest rates. Concerns over the Fed's independence intensified after Representative Anna Paulina Luna...
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....