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 fell on Friday and headed for a second weekly loss, as a slight rise in the dollar and an Israel-Iran truce weighed on prices, with markets eyeing U.S. inflation data for clues on the Federal Reserve's interest rate trajectory. Spot gold fell 1% to $3,292.19 an ounce by 0402 GMT. Bullion has fallen 2.2% so far this week. U.S. gold futures fell 1.3% to $3,305.20. The dollar (.DXY), opens a new tab, rose 0.2% against its rivals, making dollar-priced bullion more expensive for overseas buyers. The decline this week was driven by the Israel-Iran peace deal, said Brian Lan, managing...
The US Dollar Index (DXY), a measure of the US Dollar (USD) against a basket of six major currencies, held steady near 97.25, its lowest level in three-and-a-half years during the Asian session on Wednesday (6/27). US President Donald Trump is considering picking the next Federal Reserve (Fed) Chair early, fueling fresh bets on a US interest rate cut. Trump said he has a shortlist of potential Powell successors down to "three or four people," without naming the finalists. Concerns over the Fed's future independence could weaken the US Dollar (USD) against its rivals. "For now, expectations...
The Japanese Yen (JPY) weakened across the board during the Asian session on Friday (6/27) in reaction to data showing that consumer inflation in Tokyo slowed sharply in June. Moreover, Japanese Retail Sales posted growth for the 38th straight month, albeit at the slowest pace since February. This came on top of expectations that the Bank of Japan (BoJ) could delay an interest rate hike until Q1 2026, which, along with upbeat market sentiment, turned out to be the main factors weakening the safe-haven JPY. Moreover, uncertainty over the impact of US tariffs on the Japanese economy turned...
Oil prices edged up in early Asia amid positive sentiment driven by overnight gains on Wall Street. However, "supply tensions should again surpass their summer seasonal strength as under the surface, several bearish factors are gearing up for the end of the third quarter," Francesco Martoccia of Citi Research said in a research report. These factors include global refinery production set to fall by more than 1.5 million barrels per day between August and September, the analyst said. Front-month WTI crude futures were up 0.2% at $65.37/bbl; front-month Brent crude futures were up 0.2% at...
Gold fell slightly in early Asian trade, weighed by stronger-than-expected US data that could dampen hopes for a Fed rate cut. The number of people filing for unemployment benefits fell to a five-week low last week and durable goods orders posted their biggest increase in 11 years. The focus will likely be on the PCE inflation report due later in the day. Market participants are now looking to upcoming data for further direction, Exness' Krisada Yoonaisil said in an email. Meanwhile, concerns over the Fed's independence could fuel safe-haven demand, the financial market strategist added....
Gold price retreats on Thursday during the North American session, failing to gain traction amid a session characterized by a weak US Dollar, which is testing levels last seen in February 2022. The XAU/USD trades at $3,331 and prints modest losses of 0.05%. The yellow metal is struggling to rally despite the Greenback being near three-and-a-half-year lows and US Treasury yields plunging. Solid economic data in the United States (US) kept bullion from advancing, even though market participants got slightly ahead of themselves, pricing in two rate cuts toward the end of 2025. US jobs data...
Oil prices edged higher on Thursday with investors focused on market fundamentals as crude and fuel inventories fell in the U.S. and the dollar sank to a multi-year low, while the market remained cautious about the Iran-Israel ceasefire. Brent crude futures were up 32 cents, or 0.47%, to $68 a barrel at 2:01 p.m. EDT (1801 GMT). U.S. West Texas Intermediate crude was up 55 cents, or 0.85%, to $65.47 a barrel. Both benchmarks climbed nearly 1% on Wednesday, recovering from losses earlier in the week after data showed resilient U.S. demand. Brent futures were trading below their close of...
Gold is retreating on Thursday despite persistent US Dollar (USD) weakness as traders continue to favour risk assets. With XAU/USD trading near $3,330 in the American session at the time of writing, the yellow metal continues to display signs of resiliency despite a minor pullback. The risk-on tone being adopted by global markets has continued to ripple through markets as US equity indices continue their ascent to fresh, record highs. This has limited Gold's ability to extend gains, despite a weaker Greenback. With the timing of Fed rate cuts still in question, recent data and 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....