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 Swiss Franc is one of the strongest G8 performers, amid higher demand for safe havens as risk aversion increased during Tuesday's European market session. The USD/CHF, as a result, has extended its decline to fresh 14-year lows at the 0.7900 area. US President Trump's comments highlighting the challenges to cut a trade deal with Japan and Treasury Secretary Bessent's threats of higher tariffs from July 9 have crushed risk appetite on Tuesday. In the US, the uncertainty about Trump's sweeping Tax bill, which is expected to add another $3.3 trillion to an already high US debt load, is...
Gold price (XAU/USD) builds on the previous day's goodish recovery from the $3,248-3,247 region or a one-month trough and gains positive traction for the second successive day on Tuesday. The momentum remains uninterrupted through the early part of the European session and lifts the bullion to a multi-day peak, around the $3,340 area in the last hour. The US Dollar (USD) remains depressed on the back of the growing acceptance that the Federal Reserve (Fed) would resume its rate-cutting cycle in the near future. Adding to this, concerns about the worsening US fiscal conditions drag the USD...
Silver prices held steady around $36 per ounce on Tuesday following a strong performance in June, underpinned by a weaker dollar amid bets on deeper Federal Reserve rate cuts, rising fiscal concerns, and persistent trade uncertainties. A softer dollar typically boosts demand for dollar-denominated commodities like silver by making them more affordable to foreign buyers. Investors are now turning their attention to upcoming US jobs data, as signs of weakness in the labor market may strengthen the case for a rate cut as early as July. Meanwhile, market participants are closely monitoring the...
The Australian Dollar (AUD) recovers its daily losses against the US Dollar (USD) on Tuesday amid improved risk appetite, driven by the news that the US may scale back its goals for comprehensive reciprocal agreements with trading partners. US President Donald Trump's top trade officials were seeking phased deals with the most engaged countries as they hurried to reach an agreement by the July 9 deadline, when Trump had vowed to reimpose his harshest levies, per the Financial Times. However, the AUD/USD pair faced challenges as Australia's S&P Global Manufacturing Purchasing Managers'...
Gold climbed for a second day on optimism that the Federal Reserve will resume rate cuts this half, while investors continued to monitor US trade talks before a July 9 tariff deadline. Bullion rose 0.6% to near $3,323 an ounce, after gaining 0.9% on Monday as traders priced in higher odds of at least two US rate reductions in 2025. A jobs report on Thursday also looms as a potential catalyst for a drop in yields on Treasuries — a scenario that typically tends to benefit gold. Gold is up by more than a quarter this year, and is trading less than $200 short of...
Oil declined for a second day to near its lowest level since early June, with the focus turning to how much OPEC+ will increase output quotas this weekend. Brent crude traded below $67 a barrel, while West Texas Intermediate was near $65. The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase at a meeting on Sunday, according to a Bloomberg survey, as leader Saudi Arabia continues its bid to reclaim market share. A 411,000 barrel-a-day quota hike is like this weekend and there will...
Gold edges higher in the early Asian session, underpinned by Fed rate-cut hopes. "The metal could find support amid subdued yields and dovish expectations," Kudotrade's Konstantinos Chrysikos says in an email. "Markets expect three rate cuts in the U.S. during the second half of the year, which could support non-yielding assets like gold," the head of Customer Relationship Management says. Worries over the Fed's independence might also drive investors toward the precious metal, Chrysikos adds. Spot gold is 0.2% higher at $3,310.66/oz. Source : Dow Jones
Oil held a decline to trade near the lowest level since early June with the focus on how much OPEC+ will increase production at a meeting on Sunday. West Texas Intermediate was near $65 a barrel after shedding 0.6% on Monday, while Brent for September closed under $67. The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase as leader Saudi Arabia continues its bid to reclaim market share, according to a Bloomberg survey. Oil lost 9% last quarter in a volatile three months that saw prices drop...
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....