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 U.S. dollar slid on Wednesday after data showed inflation in the world's largest economy rose less than expected last month, suggesting that the Federal Reserve could resume cutting interest rates sooner rather than later. The greenback, however, briefly trimmed losses after President Donald Trump said a U.S. trade deal with China is done, with Beijing to supply magnets and rare earth minerals while the U.S. will allow Chinese students in its colleges and universities. A White House official also said the agreement allows the U.S. to charge a 55% tariff on imported Chinese goods. This...
GBP/USD advances on Wednesday during the North American session, boosted by a weaker-than-expected consumer inflation report in the United States (US), which increased speculation that the Federal Reserve (Fed) may reduce borrowing costs twice in 2025. At the time of writing, the pair trades at 1.3537, up 0.34%The Consumer Price Index (CPI) in May rose less than estimates. Headline figures increased by 2.4% YoY, up from 2.3% a month ago but below forecasts for a 2.5% rise. Core CPI – which excludes volatile items like food and energy – advanced 2.8% YoY, unchanged compared with April's...
Gold rose after a softer-than-expected inflation reading bolstered bets that the Federal Reserve will cut interest rates later this year. Underlying US inflation rose in May by less than forecast for the fourth month in a row, suggesting companies are finding ways to limit how much of higher costs from tariffs they pass through to customers. The dollar and bond yields pushed lower after the print, sending bullion higher by as much as 1.1% before paring some of the gains. Bullion typically benefits from a lower rate environment as it pays no interest. Gold is...
Oil prices rose to a seven-week high on Wednesday as US President Donald Trump said a deal was in place with China, raising expectations of a de-escalation in trade tensions between the world's two largest economies. Brent crude futures rose $1.15, or 1.7%, to $68.02 a barrel by 1249 GMT, while US West Texas Intermediate crude futures rose $1.31, or 2%, to $66.29. At that level, WTI hit its highest in more than two months. Trump said Beijing would supply magnets and rare earth minerals and the US would allow Chinese students into its colleges and universities. Trump added that the deal was...
Gold futures rose on Wednesday morning as the dollar and yields fell after a report showed U.S. inflation eased last month. Gold for August delivery was last seen up $16.40 at $3,359.80 an ounce. The U.S. Bureau of Labor Statistics reported the Consumer Price Index rose 0.1% in May from April, down from a 0.2% pace in the previous month and below the consensus estimate for a 0.2% increase, according to Marketwatch. Core CPI, which excludes volatile food and energy costs, rose 0.1% on a month-over-month basis, down from 0.2% in April, while the consensus estimate was for a 0.3%...
The US Dollar Index fell to 98.7, near a three-year low of 98.0 last seen in April, after weaker-than-expected inflation data dampened market sentiment. US consumer prices rose 2.4% year-on-year in May, up from 2.3% in April but slightly below market consensus of 2.5%. Energy prices have fallen 3.5% over the past year, while food prices rose 2.9%. Core inflation—which excludes food and energy—held steady at 2.8%, slightly below forecasts of 2.9%. Despite the weaker data, inflation remains above the Federal Reserve's 2.0% target, reinforcing expectations that policymakers are unlikely to...
The USD/JPY pair trades in a calm manner around 145.00 during European trading hours on Wednesday (6/11). The pair is oscillating in a tight range, as investors await the US Consumer Price Index (CPI) data for May, which will be published at 12:30 GMT. Ahead of the US inflation data, the US Dollar Index (DXY) is fluctuating around 99.00. Investors will be watching the US inflation data as it will influence market expectations on the Federal Reserve's (Fed) monetary policy outlook. As measured by the CPI, headline inflation is expected to grow at a faster pace of 2.5% annually, compared to...
Gold prices rose on Wednesday as investors remained cautious as uncertainty over a US-China trade truce lingered ahead of key inflation data that could provide clues on the Federal Reserve's next policy move. Spot gold was up 0.7% at $3,344.93 an ounce, by 0808 GMT. US gold futures were up 0.7% at $3,366.40. US and Chinese officials said on Tuesday they had agreed on a framework to get their trade truce back on track and remove restrictions on China's rare earth exports. However, the talks have provided little sign of a lasting resolution to long-running trade differences. In April, the...
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....