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 recovered a little on Wednesday after slumping earlier this week, as investors assessed the stability of a ceasefire between Iran and Israel, while support also came from data that showed U.S. demand was relatively strong. Brent crude futures were up 63 cents, or 0.9%, at $67.77 a barrel at 1050 GMT, while U.S. West Texas Intermediate (WTI) crude was up 60 cents, or 0.9%, to $64.97. Brent settled on Tuesday at its lowest since June 10 and WTI at its lowest since June 5, both before Israel launched a surprise attack on key Iranian military and nuclear facilities on June...
Gold (XAU/USD) is trading within a tight range on Wednesday, as markets continue to show signs of optimism following Tuesday's ceasefire between Israel and Iran. At the time of writing, Gold is holding above $3,300 during the European session, with volatility remaining subdued. Market focus is now on key US macroeconomic releases and the second day of testimony from Federal Reserve Chair Jerome Powell. With tensions in the Middle East appearing to remain subdued, Wednesday's economic data releases and comments from Powell could serve as an additional catalyst for Bullion. US New Home...
The Pound Sterling (GBP) holds onto gains near a fresh three-year high around 1.3650 against the US Dollar (USD) during European trading hours on Wednesday. The GBP/USD pair strengthens as the US Dollar continues to underperform its peers, as its safe-haven demand has diminished significantly after the announcement of a ceasefire between Israel and Iran on Tuesday. During the European trading session, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, struggles to hold the weekly low around 98.00. On Tuesday, United States (US) President Donald...
The U.S. dollar edged higher Wednesday, but was struggling to regain lost ground as the fragile truce between Israel and Iran saw investors take on risk to the detriment of this safe haven. At 04:20 ET (08:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.2% to 97.665, but remained near multu-week lows. Dollar awaits Powell, part II The greenback initially benefited from increased safe haven demand following weekend U.S. strikes against Iran, but this trend was largely reversed by U.S. President Donald Trump's announcement of the...
Oil prices climbed on Wednesday as investors assessed the stability of a ceasefire between Iran and Israel, while support also came from market expectations that interest rate cuts could happen soon in the United States, the world's largest economy. Brent crude futures rose $1.2, or 1.8%, to $68.34 a barrel at 0701 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.18 cents, or 1.8%, to $65.55. Brent settled on Tuesday at its lowest since June 10 and WTI since June 5, both before Israel launched a surprise attack on key Iranian military and nuclear facilities on June 13. Prices...
The EUR/USD is trading practically flat on Wednesday, just below a multi-year high near 1.1640, last seen in November 2021, consolidating gains after a nearly 1.40% rally in the previous two days. A moderate appetite for risk continues to drive markets, despite the fragility of the ceasefire between Israel and Iran, and is keeping the safe-haven US Dollar (USD) on its back foot. Oil prices have ticked up from Tuesday's lows butt remain well below the highs seen last week. Iran's Oil and Natural Gas facilities seem to have been little affected by the bombings, and Oil traffic through the...
Gold prices edged higher on Wednesday, supported by a pullback in the U.S. dollar and Treasury yields, as markets monitored the fragile truce between Israel and Iran. Spot gold was up 0.2% at $3,330.99 per ounce, as of 0658 GMT, after hitting on Tuesday its lowest level in more than two weeks. U.S. gold futures rose 0.3% to $3,345.00. The dollar index (.DXY), opens new tab hovered near a one-week low, making greenback-priced bullion more attractive for other currency holders. The benchmark 10-year Treasury yields remained near a more than one-month low. "The technical selling of the...
The US dollar struggled to regain lost ground on Wednesday as investors decided to take on more risk after a fragile ceasefire between Israel and Iran. Markets cheered and global stock indexes hit record highs overnight as a shaky truce brokered by US President Donald Trump held sway between Iran and Israel. Both countries signaled that their air war was over, at least for now, after Trump publicly rebuked them for violating the truce he declared. Investors sold the US dollar heavily after the news, having flowed into the safe-haven currency during the 12-day war between Israel and Iran...
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....