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 rose on Wednesday as investors digested data showing an increase in U.S. consumer prices last month and waited for further clarity on U.S. President Donald Trump's trade policy. Spot gold was up 0.4% at $3,334.12 per ounce, as of 0401 GMT. U.S. gold futures edged 0.1% higher to $3,340.90. "Gold at this moment is consolidating with a slight downward bias, especially with a stronger dollar," said Brian Lan, managing director at GoldSilver Central, Singapore. "However, many countries are still negotiating with the U.S. on the tariffs. There are still a lot of uncertainties in the...
EUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders' caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday. The Fed Beige Book and Industrial Production will also be eyed. However, the US Dollar may regain its ground as the US inflation report for June reignited concerns about prolonged high Federal Reserve (Fed) interest rates. The US Consumer Price Index (CPI) rose 2.7% year-over-year in June, matching market expectations. Core CPI came in...
Silver price (XAG/USD) gains ground after registering losses in the previous two sessions, trading around $37.80 per troy ounce during the Asian hours on Wednesday. The safe-haven demand for Silver grows amid uncertainty from tariffs. US President Donald Trump sent notified 25 countries of new tariff rates set to take effect on August 1st, including major trading partners Canada, Mexico, and the European Union (EU). Moreover, Trump said late Tuesday that letters notifying smaller countries, including nations in Africa and the Caribbean, of their US tariff rates would go out soon, per...
The Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday, with the USD/JPY bulls now awaiting a sustained strength beyond the 149.00 mark before placing fresh bets. Investors pared their bets for an immediate interest rate hike by the Bank of Japan (BoJ) amid concerns about the economic fallout from higher US tariffs. This, in turn, has been a key factor behind the JPY's relative underperformance since the beginning of this month. Adding to this, domestic political uncertainty ahead of the House of Councillors election on...
The Australian dollar strengthened to around $0.653 on Wednesday, snapping a three-day losing streak, as investors turned their attention to Thursday's labor market data, which could provide fresh insight into the near-term policy outlook. The Reserve Bank of Australia has recently adopted a cautious, data-driven stance, citing a more balanced inflation outlook and ongoing labor market resilience. And a robust jobs report could cast doubt on the 80% market-implied probability of a rate cut at next month's meeting. Markets are currently expecting a gain of 20,000 jobs in June and an...
The U.S. dollar rose alongside Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices. Rising prices on goods as varied as coffee, audio equipment and home furnishing pulled the inflation rate higher in June, with substantial increases in prices of the heavily imported items. That pushed the dollar and bond yields higher as investors pared back expectations of Federal Reserve interest rate cuts this year. The jump in the dollar was most apparent...
Gold edged higher after a slew of tariff-related announcements from President Donald Trump signaled concerns over the impact of a potential global trade war remain, giving support to the haven asset. Bullion ticked up to about $3,330 an ounce after closing 0.6% lower on Tuesday. Trump said he had reached a deal with Indonesia, imposing 19% tariff on country. The president also said levies on pharmaceuticals were likely as soon as the end of the month, while rates on semiconductors were also looming. Meanwhile, the US opened an investigation into Brazil about its "unfair" trade...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.70 during the early Asian trading hours on Wednesday. The WTI price edges lower amid easing concerns about supply disruption after US President Donald Trump gives a 50-day deadline for Russia to end the war in Ukraine. Trump late Monday announced new weapons for Ukraine and threatened sanctions on buyers of Russian exports unless Russia agrees to a peace deal in 50 days. The WTI price loses ground as the 50-day deadline raises hopes that sanctions could be avoided. US crude oil inventory unexpectedly rose last...
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....