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 price (XAU/USD) maintains its offered tone heading into the European session and currently trades well below the $3,300 mark, or over a one-week low touched earlier this Wednesday. Expectations that steep US tariffs would underpin inflation in the coming months and force the Federal Reserve to keep interest rates steady for an extended period remain supportive of elevated US Treasury bond yields. This, in turn, assists the US Dollar (USD) to stand firm near a two-week low and is seen as a key factor undermining the non-yielding yellow metal. Meanwhile, the global risk sentiment...
Oil prices edged lower on Wednesday after rising to two-week highs in the previous session, weighed down by investors waiting for clarity on new U.S. tariffs and expectations of rising crude inventories in the United States. Brent crude futures slipped 15 cents, or 0.2%, to $70 a barrel by 0601 GMT. U.S. West Texas Intermediate crude fell 16 cents, or 0.2%, to $68.17 a barrel. U.S. President Donald Trump's latest tariff delay provided some hope to major trade partners Japan, South Korea and the European Union that deals to ease duties could still be reached, while bewildering some smaller...
GBP/USD extends its losing streak, trading around 1.3580 during the Asian hours on Wednesday. The pair depreciates as the US Dollar (USD) gains ground amid increased risk aversion. On Tuesday, US President Donald Trump told reporters at a White House cabinet meeting to impose a 50% tariff on Copper imports but he did not say when the tariff would take effect, per Reuters. President Trump expressed his intention to strengthen domestic Copper production and reduce dependence on foreign supplies, as the US currently imports nearly half of its metal, primarily from Chile. The new tariff aligns...
Silver price (XAG/USD) falls to near $36.50 during Asian trading hours on Wednesday. The white metal faces a slight selling pressure even as the White House has signaled that it will release more letters, specifying additional import rates, to those nations that have not closed a trade deal during the 90-day tariff pause. United States (US) Commerce Secretary Howard Lutnick said in an interview with CNBC on Tuesday that more than 15 countries will receive letters in a couple of days. "I expect 15-20 trade letters to go out over the next 2 days," Lutnick said. On Tuesday, US President...
The EUR/USD pair tumbles to near 1.1705 during the Asian trading hours on Wednesday. The Euro (EUR) weakens against the Greenback as renewed tariff threats from US President Donald Trump unsettle markets. Traders await the FOMC Minutes, which will be released later on Wednesday. Trump broadened his global trade war by threatening a 50% tariff on copper imports and signaled that he might impose levies on semiconductors and pharmaceuticals. Trump noted on Tuesday that trade talks have been going well with the European Union (EU) and China, though he added he is only days away from sending a...
Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan...
Oil prices edged lower from a two-week high in Asian trading on Wednesday after industry data showed a sharp increase in U.S. crude inventories, while investors remained cautious awaiting more trade tariff announcements by President Donald Trump. As of 21:44 ET (01:44 GMT), Brent Oil Futures expiring in September fell 0.3% to $69.91 per barrel, while West Texas Intermediate (WTI) crude futures slipped 0.4% to $68.10 per barrel. Both contracts climbed to a two-week high on Tuesday, driven by supply disruption concerns from fresh Houthi attacks on Red Sea shipping lanes. A Reuters report on...
The Japanese yen slipped past 147 per dollar on Wednesday, marking its third consecutive session of losses as trade negotiations between the US and Japan showed signs of strain, particularly over Japan's rice market protections. The decline followed US President Donald Trump's announcement of a 25% tariff on Japanese goods, set to take effect on August 1. Trump emphasized that there would be no revisions or delays to the newly imposed tariffs, which target 14 countries in total. Japanese Prime Minister Shigeru Ishiba called the latest measures "truly regrettable," but affirmed Japan's...
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....