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 Japanese Yen (JPY) struggles near a three-week low against its American counterpart during the Asian session on Tuesday and seems vulnerable to prolonging a two-week-old downtrend. US President Donald Trump showed willingness to engage in trade negotiations, fueling hopes for a US-Japan deal before the August 1 deadline and lending some support to the JPY. Meanwhile, the optimism boosts investors' appetite for riskier assets and acts as a headwind for the safe-haven JPY. Furthermore, bets that the Bank of Japan (BoJ) would keep interest rates low for longer than it wants amid concerns...
The Australian dollar edged higher to around $0.654 on Tuesday, following a notable decline in the previous session, largely driven by renewed optimism over US President Donald Trump's willingness to further engage in trade discussions. Despite maintaining a firm stance on the upcoming 30% tariffs set to take effect on August 1, Trump indicated a readiness to resume negotiations with the European Union and other major trading partners, hinting at a potential diplomatic opening and easing investor fears of a deepening trade conflict. Domestically, sentiment was further buoyed by positive...
The US dollar index held above 98 on Tuesday, hovering near a three-week high as investors awaited the June consumer inflation report that could provide clues on how the Trump administration's tariffs have been affecting prices. Federal Reserve Chair Jerome Powell recently indicated that inflation is expected to rise over the summer due to tariff pressures, reinforcing expectations that the Fed may delay interest rate cuts until later this year. Meanwhile, concerns over central bank independence resurfaced as President Donald Trump renewed criticism of Powell, arguing that interest rates...
Gold edges higher in the early Asian session. Key development is today's release of U.S. CPI, XS.com's Rania Gule says in an email. "Inflation remains the core variable steering the Fed's monetary policy, and therefore directly impacts market sentiment toward safe-haven or risk-on assets," the senior market analyst says. Should inflation be hotter than expected, expectations of a Fed rate cut in September may be scaled back, strengthening USD and putting downward pressure on gold. On the other hand, weak inflation readings would boost the case for Fed rate cuts and be strongly supportive of...
Oil held a drop after slumping by more than 2% on Monday as US President Donald Trump's latest plan to pressure Russia refrained from immediate new measures aimed at hindering Moscow's energy exports. US benchmark West Texas Intermediate traded near $67 a barrel, while Brent settled near $69 in the previous session. Trump boosted military support for Ukraine to resist Moscow's invasion, and threatened to impose 100% tariffs if the hostilities did not end with a deal in 50 days. The planned action effectively represents secondary sanctions on countries buying oil from Russia, according...
The EUR/USD remains pressured during the North American session, below the 1.1700 figure as the Dollar got boosted by Trump unveiling new tariff letters on two of its largest trade partners, increasing appetite for haven assets. At the time of writing, the pair trades at 1.1667, down 0.15%. US President Donald Trump revealed levies of 30% on the European Union (EU) and Mexico last weekend. Initially, investors' sentiment deteriorated, but traders seem to be fading from Trump's decision, amid speculation that Washington could backpedal on trade decisions. Analysts cited by Reuters revealed...
Silver retreated from a nearly 14-year high as the dollar pushed higher after US President Donald Trump escalated trade tensions on the European Union and Mexico, the world's top producer of the white metal. Spot silver slipped as much as 0.8% as the greenback advanced during US trading hours. The precious metal is priced in US currency, so the strength in the dollar makes it less attractive for foreign investors. Trump unleashed tariff threats this weekend, declaring a 30% rate for Mexico and the EU, and informing key trading partners of new rates that will kick in on Aug. 1 if...
Oil prices edged lower on Monday, as investors weighed new threats from U.S. President Donald Trump for sanctions on buyers of Russian oil that may affect global supplies, while still worried about Trump's tariffs. Brent crude futures fell 79 cents, or 1.12%, to $69.57 a barrel by 1:04 pm EDT (1704 GMT). U.S. West Texas Intermediate crude futures were down $1.07, also 1.56%, to $67.38. Trump announced new weapons for Ukraine and threatened to hit buyers of Russian exports with sanctions unless Russia agrees to a peace deal in 50 days. Oil prices rallied early, on expectations that...
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....