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 Silver price ( XAG/USD) attracts some buyers to around $38.85, the highest since 2011 during the Asian trading hours on Monday. The white metal edges higher as US President Donald Trump's shock trade tariff on copper spurred a rush to import silver into the world's largest economy. Last week, Trump said that the 50% tariff on copper imports will take effect on August 1. The decision was made after Trump received a national security assessment. It's worth noting that Silver and copper are both used in industrial applications, especially in electronics and clean energy. If copper becomes...
Oil prices nudged higher on Monday, adding to gains of more than 2% from Friday, as investors eyed further U.S. sanctions on Russia that may affect global supplies, but a ramp-up in Saudi output and ongoing tariff uncertainty limited gains. Brent crude futures rose 15 cents to $70.51 a barrel by 0400 GMT, extending a 2.51% gain on Friday. U.S. West Texas Intermediate crude futures climbed to $68.59, up 14 cents, after settling 2.82% higher in the previous session. U.S. President Donald Trump said on Sunday that he will send Patriot air defence missiles to Ukraine. He is due to make a...
The US dollar index held firm around 97.8 on Monday, maintaining its recent gains as investors assessed the latest developments in global trade. President Trump announced a 30% tariff on imports from the EU and Mexico, set to take effect on August 1, further escalating trade tensions. In response, EU and Mexican officials signaled their willingness to continue negotiations with Washington this month in hopes of securing a lower rate. Meanwhile, the EU is reportedly intensifying talks with other countries hit by US tariffs, including Canada and Japan, as it considers possible coordinated...
Gold prices rose to around $3,360 per ounce on Monday, marking a fourth consecutive session of gains, as President Donald Trump's announcement of new tariffs drove investors toward the safety of bullion. In letters to the EU and Mexico, Trump set a 30% tariff for both and referred to their respective trade deficits with the US as a "major threat" to national security. This follows a broader set of tariff hikes unveiled last week, targeting more than 20 countries—including Japan, South Korea, Canada, and Brazil—as well as a 50% duty on copper imports. The new measures are set to take effect...
The Japanese yen appreciated toward 147 per dollar on Monday, recouping some losses from last week as investors responded to renewed global trade concerns. The move followed President Donald Trump's announcement of a 30% tariff on imports from the European Union and Mexico, set to take effect on August 1. In response, EU and Mexican leaders signaled their intent to continue negotiations with the Trump administration this month in hopes of securing a lower tariff rate. The EU is also reportedly expanding talks with other nations impacted by the tariffs, including Canada and Japan,...
The Australian dollar weakened to around $0.656 on Monday, reversing gains from the previous week, as renewed tariff threats from US President Donald Trump stirred fears of potential global trade war. Trump announced a 30% tariff on imports from the European Union and Mexico starting August 1, while also signaling the possibility of further duties on other countries and urging trading partners to return to the negotiating table. In a related move, Trump proposed a steep 200% tariff on Australian pharmaceuticals, sparking concern among Australian industry leaders and government officials, as...
EUR/USD halts its three-day losing streak, trading around 1.1700 during the Asian hours on Monday. The pair gains ground as the US Dollar (USD) loses ground due to escalating global trade tensions. On Saturday, US President Donald Trump announced a 30% tariff on imports from the European Union (EU) and Mexico starting August 1. He also proposed a blanket tariff rate of 15%-20% on other trading partners, an increase from the current 10% baseline rate. In response, the European Union announced on Sunday that it will extend its pause on retaliatory measures against US tariffs until early...
The GBP/USD pair enters a bearish consolidation phase during the Asian session and oscillates in a narrow band around the 1.3500 psychological mark, just a few pips above a three-week low touched on Friday. Moreover, the fundamental backdrop suggests that the path of least resistance for spot prices remains to the downside. A modest US Dollar (USD) pullback from its highest level since June 25 turns out to be a key factor lending some support to the GBP/USD pair. However, diminishing odds for a near-term reduction in borrowing costs by the Federal Reserve (Fed), amid concerns that US...
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....