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 currently under pressure as markets await more news of trade deals ahead of Wednesday's tariff deadline. In the European session, Gold is trading around $3,300 at the time of writing. Liquidity and trade volumes are increasing on Monday as the US returns to financial markets following Friday's Independence Day holiday. US yields have also firmed after Thursday's Nonfarm Payrolls (NFP) report revealed a resilient labour market. This reduced the prospects that the Federal Reserve (Fed) would lower interest rates in July. The positive economic data has eased fears of a...
The US Dollar and the Swiss Franc are the best performers among major currencies on Monday, as investors rush for safety, anxious that Trump's tariffs will cause a significant disruption in global trade. Between them, however, the Dollar is showing a mild advantage. The USD/CHF advances to levels right above 0.7970, yet still below the 0.8000 psychological level and less than 100 pips above the 14-year low, at 0.7875, hit last week. The US president announced over the weekend that he will send letters to some countries specifying the tariffs that will be applied to their products, but did...
Oil pared losses on Monday as a tight physical oil market offset the impact of OPEC+ hiking oil output more than expected in August as well as concern about the potential impact of U.S. tariffs on economic growth and oil demand. The Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, agreed on Saturday to raise production by 548,000 barrels per day in August, more than the 411,000 bpd hikes they made for the earlier three months. Brent crude futures fell as low as $67.22 a barrel and by 0815 GMT were down 22 cents, or 0.3%, to $68.08. U.S. West Texas...
The EUR/USD pair is accelerating its reversal on Monday, as the US Dollar appreciates, in tandem with US Treasury yields. Growing uncertainty about the outlook of global trade, as the initial July 9 deadline approaches, has restored the traditional safe-asset status to the US Dollar, at least for now. The Euro (EUR) has returned to the lower range of the 1.1700s, at the early European trading session, and is moving right below 1.1720 at the time of writing. Correlation studies suggest a deeper Euro correction if the USD Index recovery extends below the key 97.00 level. Eurozone's upbeat...
Risk aversion is driving markets on Monday, as markets brace for the reintroduction of April's "Liberation Day" tariffs and the Aussie Dollar dives on a mix of fears of higher levies on exports to the US and a generalised disruption of global trade. Australia's economy is strongly dependent on international trade, and the uncertainty about the global trade outlook is hurting confidence in its currency. The AUD/USD accelerated its decline today and is losing about 0.9% in its third consecutive bearish day. Risk-sensitive currencies suffer with US tariffs loomingInvestors are rushing for...
The Pound Sterling (GBP) drops to near 1.3600 against the US Dollar (USD) during European trading hours on Monday. The GBP/USD pair declines as the US Dollar trades calmly, with investors awaiting trade-related headlines in the countdown to the United States (US) tariff deadline on July 9. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades 0.35% higher at near 97.35. US Treasury Secretary Scott Bessent expressed confidence in an interview with CNN over the weekend that Washington will announce several deals in a couple of days, New York Times...
The US Dollar is one of the best performers among major currencies on Monday. Investors' risk-averse sentiment amid growing concerns about global trade, as the US is likely to announce tariffs on imports today, The US Dollar Index (DXY), which measures the value of the Greenback against a basket of the most traded currencies, has climbed to the upper range of the 96.00s, putting some distance from last week's long-term lows, right below 96.00 and approaching a key resistance level, at 97.00. US tariffs have boosted risk aversionTrump said on the Weekend that he will send letters on Monday...
Gold price (XAU/USD) touches a fresh daily low during the early part of the European session on Monday, with bears now awaiting a sustained break below the $3,300 mark before positioning for deeper losses. The US Dollar (USD) regains positive traction and moves back closer to last week's swing high, which, in turn, is seen as a key factor undermining the commodity. However, bets that the Federal Reserve (Fed) will resume its rate-cutting cycle in the near future should keep a lid on the USD and lend support to the non-yielding yellow metal. Furthermore, concerns that US President Donald...
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....