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...
Silver price (XAG/USD) holds ground after registering over a 0.50% loss in the previous session, trading around $36.60 per troy ounce during the Asian hours on Wednesday. The price of the grey metal maintains a position near a 13-year high of $36.89, which was reached on Monday. The US Consumer Price Index (CPI) data will be closely watched later in the North American session, with expectations of a 2.5% year-over-year (YoY) rise in May. However, precious metals, including Silver, may face challenges due to dampened safe-haven demand amid easing trade tensions between the United States (US)...
Oil prices edged lower from a seven-week high in Asian trading on Wednesday amid demand outlook worries, while focus remained on the outcome of crucial U.S.-China trade talks in London. As of 21:55 ET (01:55 GMT), Brent Oil Futures expiring in July fell 0.3% to $66.65 per barrel, after reaching its highest level since late April. West Texas Intermediate (WTI) crude futures also fell 0.2% to $64.86 per barrel, after jumping to its highest since early April. US-China trade talks outcome awaited U.S. and Chinese officials concluded two days of intense trade negotiations in London on...
The Australian dollar slipped to around $0.650 on Wednesday, ending two consecutive sessions of gains, pressured by growing expectations of further rate cuts by the Reserve Bank of Australia. Markets are now pricing in a 97% chance of a 25bps cut in July, with futures implying a total of 75bps of easing to 3.1% by the end of the year. This sentiment follows a string of soft economic data, including just 0.2% GDP growth in Q1, weak consumer spending, and falling business investment—raising concerns the RBA may have waited too long to act. Adding pressure, the US dollar firmed ahead of key US...
The US dollar index held steady around 99 on Wednesday, trading in a narrow range this week as investors remained cautious ahead of the latest Consumer Price Index report, which could offer insight into the economic impact of recent tariffs. Markets are also closely watching developments in US–China trade talks. US Commerce Secretary Howard Lutnick said both countries have reached a framework to implement the Geneva consensus and follow through on commitments made during a recent presidential call. He also expressed optimism that China will lift its restrictions on rare earth exports,...
Gold edges higher in the early Asian session as traders nervously eye U.S.-China trade talks. "Hopes for a resolution between the world's two largest economies could potentially ease global trade disruptions," Pepperstone's Quasar Elizundia says in an email. "Further progress or a potential deal could be bearish for gold, which had previously benefited from geopolitical tensions," the research strategist adds. The negotiations have been "productive," U.S. Treasury Secretary Bessent said as he headed back to the U.S. for planned testimony to Congress on Wednesday. Spot gold is 0.1% higher...
Oil was little changed, as traders digested an initial agreement between the US and China to improve trade relations following talks in London. West Texas Intermediate held near $65 a barrel, after losing 0.5% on Tuesday, while Brent settled above $66. Washington and Beijing reached a framework deal, according to Commerce Secretary Howard Lutnick, with implementation subject to presidential approvals. The sides agreed to implement a consensus reached in Geneva in earlier talks, a Chinese official said. Crude has dropped this year as the Trump administration's aggressive trade...
Gold price clings to modest gains on Tuesday after bouncing off a daily low near the $3,300 figure as talks between the United States (US) and China appear to be progressing well, improving risk appetite among investors who are driving US equities higher. The XAU/USD trades at $3,328, up 0.10%. The market mood remains positive, fueled by the reunion between US and Chinese officials in London. Meanwhile, price action in the financial markets remains choppy as traders await the release of the latest US Consumer Price Index (CPI) figures for May. Estimates suggest that prices most likely rose,...
Gold prices are trading firm against the US Dollar (USD) on Tuesday, with the precious metal trading near the $3,350 resistance level at the time of writing. Ongoing trade talks between the United States and China continue to influence global risk sentiment, helping to stabilize the US Dollar (USD). As US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer, and US Commerce Secretary Howard Lutnick continue discussions with China's Vice Premier He Lifeng for the second day in London, markets remain focused on trade-related developments. Ahead of Tuesday's meeting,...
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....