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 (XAU/USD) is trading between $3,340 and $3,370 on Monday in response to news that the US may impose a 30% tariff on imports from the European Union (EU) and Mexico, effective August 1. The latest tariff threats on two of America's largest trading partners have provided a tailwind for XAU/USD. At the time of writing, the Gold price is trading near $3,350 as bulls struggle to gain the momentum above $3,370. European Commission President Ursula von der Leyen and Mexican President Claudia Sheinbaum received letters from US President Donald Trump on Saturday. His remarks fueled fears of a...
The US Dollar Index (DXY), which measures the strength of the US Dollar (USD) against a basket of major currencies, remains under pressure at the start of the week, trading below the 98.00 level on Monday. Fresh geopolitical risks have emerged after US President Donald Trump's announcement of tariff threats against the European Union (EU) and Mexico over the weekend. At the same time, reports that President Trump is pressuring Federal Reserve (Fed) Chair Jerome Powell to resign have reignited concerns about the central bank's independence, a factor that may influence investor confidence...
The US dollar (USD) started the week with a positive bias, maintaining last week's gains as traders responded to the resurgence of trade tensions. However, the greenback traded slightly lower today as investors remained cautious. Late last week, US President Donald Trump again attracted attention by adding the European Union (EU) and Mexico to his growing list of tariff targets. The US Dollar Index (DXY), which measures the greenback against a basket of six major currencies, held near a two-week high. At the time of writing, the index was consolidating just below the 98.00 level, trading...
Gold rose to a three-week high on Monday, boosted by safe-haven demand after U.S. President Donald Trump threatened tariffs on the European Union and Mexico, while silver hit a nearly 14-year high. Spot gold rose 0.4% to $3,369.89 an ounce, as of 11:23 GMT, after hitting its highest level since June 23 earlier in the session. U.S. gold futures rose 0.5% to $3,381.10. Trump said on Saturday that he would impose 30% tariffs on most imports from the European Union and Mexico starting August 1, adding similar warnings to other countries. The European Union and Mexico described the tariffs as...
Oil prices rose on Monday to their highest level in three weeks, as investors anticipated further US sanctions against Russia that could impact global supply, while increased oil imports by China also provided support along with signs of tighter supply. Brent crude rose 89 cents, or 1.3%, to $71.25 a barrel at 11:14 GMT, while US West Texas Intermediate crude rose 93 cents, or 1.4%, to $69.38. Increased Chinese crude imports and expectations surrounding US President Donald Trump's announcement on Russia supported prices, said UBS analyst Giovanni Staunovo. "...There remains a perception of...
Silver (XAG/USD) continued its three-day uptrend, marking a new high since September 2011 and trading around $39.00 per troy ounce during the European trading session on Monday (July 14). The price of this safe-haven metal rose amidst weakening market sentiment, driven by concerns about new tariffs. US President Donald Trump announced on Saturday a 30% tariff on imports from the European Union (EU) and Mexico starting August 1. Trump also proposed a blanket tariff of 15%-20% on other trading partners, an increase from the current base rate of 10%. However, the European Union announced on...
Gold price (XAU/USD) remains on the defensive below a three-week high touched during the Asian session this Monday, albeit it lacks follow-through selling. Diminishing odds for an immediate interest rate cut by the Federal Reserve (Fed) assist the US Dollar (USD) to hold steady near its highest level since June 25 and turn out to be a key factor acting as a headwind for the non-yielding yellow metal. However, the downbeat market mood offers some to the safe-haven precious metal. The already weaker global risk sentiment took another hit from US President Donald Trump's fresh threat to...
USD/CHF remains subdued for the second successive session, trading around 0.7970 during the Asian hours on Monday. The pair struggled as the Swiss Franc (CHF) receives support from increased safe-haven demand amid ongoing global trade uncertainties, driven uncertain tariff concerns. Swiss Producer and Import Prices data for June will be eyed later in the day. Additionally, the CHF draws support from wavering expectations of further Swiss National Bank (SNB) policy easing amid a renewed inflation risk. The SNB officials are expected to keep the interest rate steady at 0% in September, with...
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....