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...
Oil prices plunged more than 2% on Thursday (July 10th), as investors weighed the potential impact of US President Donald Trump's tariffs on global economic growth. Brent crude futures closed at $68.64 per barrel, down $1.55, or 2.21%. US West Texas Intermediate crude futures closed at $66.57 per barrel, down $1.81, or 2.65%. On Wednesday, Trump threatened Brazil, Latin America's largest economy, with punitive 50% tariffs on exports to the US, pressuring his Brazilian counterpart, Luiz Inácio Lula da Silva, over the trial of former President Jair Bolsonaro in Brazil on charges of plotting...
Gold prices were little changed on Thursday (July 10) as a stronger U.S. dollar offset the impact of U.S. President Donald Trump's latest tariffs, prompting buying by investors seeking protection from geopolitical risks. Spot gold rose 0.1% to $3,317.44 an ounce at 1:50 PM ET (17:50 GMT). U.S. gold futures closed 0.1% higher at $3,325.7. The U.S. dollar index rose 0.2%. Gold tends to lose traction when the U.S. dollar strengthens, as it becomes more expensive for investors holding other currencies. "Unless there's a major geopolitical escalation, I don't see gold breaking above $3,400. In...
Gold prices were little changed on Thursday (July 10) as a stronger U.S. dollar offset the impact of U.S. President Donald Trump's latest tariffs, prompting buying by investors seeking protection from geopolitical risks. Spot gold prices rose 0.2% to $3,318.56 an ounce at 11:03 a.m. ET (1603 GMT). U.S. gold futures rose 0.2% to $3,328.30. The U.S. dollar index rose 0.2%. Gold tends to lose traction when the U.S. dollar strengthens, as it becomes more expensive for investors holding other currencies. "Unless there's a major geopolitical escalation, I don't see gold breaking above $3,400. In...
The US dollar (USD) held its ground on Thursday (July 10th) after a weak start to the day, as investors digested new tariff threats from US President Donald Trump. The US Dollar Index (DXY), which measures the greenback against a basket of six major currencies, strengthened slightly during American trading hours following stronger-than-expected weekly jobs data. At the time of writing, the index was hovering around 97.75, a level last seen on June 25th, marking a new weekly high after rebounding from a daily low of 97.27. The greenback weakened during Asian trading hours and retraced some...
Oil prices edged lower on Thursday as investors weighed the potential impact of U.S. President Donald Trump's tariffs on global economic growth. Brent crude futures were down 17 cents, or 0.24%, at $70.02 a barrel by 1100 GMT. U.S. West Texas Intermediate crude fell 24 cents, or 0.35%, to $68.14 a barrel. On Wednesday, Trump threatened Brazil, Latin America's largest economy, with a punitive 50% tariff on exports to the U.S., after a public spat with his Brazilian counterpart Luiz Inacio Lula da Silva. He has also announced plans for tariffs on copper, semiconductors and pharmaceuticals...
The US Dollar is featuring a moderate recovery on Thursday, paring some losses after the previous two days' reversal. The pair, however, remains trading near long-term lows, with upside attempts capped below the 0.8000 psychological level. The Greenback extended losses on Wednesday after the minutes of the latest Federal Reserve's Monetary Policy Meeting revealed a deep division among policymakers, with the majority of the MPC showing willingness to reduce borrowing costs in the next months. Traders ramped up expectations of an at least 25 basis point rate cut in September, according to...
Gold (XAU/USD) is ticking up slightly on Thursday, benefiting from escalating global trade tensions as recent tariff announcements from US President Trump have rekindled investors' appetite for bullion as a traditional safe-haven asset. At the time of writing, XAU/USD is trading near $3,325, with persistent tariff threats – the latest targets were Brazil and Copper products – underpinning the Gold price in the short term. Traders look ahead to the next fundamental catalyst, US Jobless Claims data, scheduled for release at 12:30 GMT. This report, published by the US Department of Labor,...
The US Dollar (USD) holds its footing on Thursday after a weak start to the day, as investors digest fresh tariff threats from US President Donald Trump. The Greenback slipped during Asian trading hours and retraced some of this week's gains. It also came under pressure from a sharp drop in Treasury yields, driven by strong demand in Wednesday's 10-year note auction and signals in the June Federal Open Market Committee (FOMC) Meeting Minutes that interest rates could be lowered later this year. The US Dollar Index (DXY), which measures the value of the Greenback against a basket of six...
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....