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...
EUR/USD started the week on a fairly positive note on Monday (09/06), following a significant decline on Friday. The currency pair is currently trading at 1.1415, having bottomed at 1.1370 on Friday, supported by a weaker US dollar (USD) and aggressive comments from European Central Bank member Peter Kazimir. The Eurozone economy still faces downside risks, Kazimir said, but inflationary pressures are rising, which according to the ECB official, suggests that the bank is done with monetary easing, "if not at the end of the cycle." In the absence of relevant releases, these comments have...
Gold prices rose on Monday, supported by a weaker U.S. dollar ahead of U.S.-China trade talks aimed at easing tensions, while platinum extended gains for a sixth straight session to hit a four-year peak. Spot gold was up 0.4% at $3,323.71 an ounce, by 0806 GMT, after dropping earlier in the session to $3,293.29, its lowest since June 2. U.S. gold futures were steady at $3,344.70. The dollar (.DXY), down 0.3% against a basket of major currencies, made bullion cheaper for holders of other currencies. Investors are realizing that gold's key drivers, such as trade and geopolitical tensions,...
Silver (XAG/USD) prices extended their gains for the third straight session, hitting a fresh 13-year high of $36.42 per troy ounce on Monday (09/06). The grey metal gained on rising demand for safe-haven assets amid concerns over global economic and trade uncertainties. Non-yielding assets, including Silver, may have found support after Citigroup released its forecasts on Monday, which predicted the Fed would cut interest rates by 25 basis points each in September, October, and December. The firm also predicted the central bank would cut rates by 25 basis points each in January and March...
Oil prices dipped a few cents on Monday but held onto most of last week's gains as investors watched for U.S.-China trade talks in London later in the day supported by some hopes a deal could boost the global economic outlook and fuel demand. Brent crude futures slipped 6 cents to $66.41 a barrel by 0450 GMT. U.S. West Texas Intermediate crude fell 4 cents to $64.54. The prospect of a U.S.-China trade deal have boosted some investors' risk appetite and supported oil prices as three of Donald Trump's top aides were set to meet with counterparts in the first meeting of the U.S.-China...
The Australian Dollar (AUD) edges higher against the US Dollar on Monday, recovering its losses from the previous session. The AUD/USD pair remains stronger following the release of China's key economic data. Any economic update from China could impact AUD as China and Australia are close trade partners. The National Bureau of Statistics of China reported that the Consumer Price Index (CPI) dropped at an annual pace of 0.1% in May, following April's 0.1% decline. However, the market consensus was for a 0.2% decrease in the reported period. Meanwhile, China's CPI inflation declined by 0.2%...
Gold prices edged down on Monday as optimism over possible easing of U.S.-China trade tensions dampened bullion demand, while an outsized U.S. jobs report tempered expectations of interest rate cuts by the Federal Reserve. Spot gold edged 0.1% lower to $3,310.68 an ounce, as of 0400 GMT. U.S. gold futures lost 0.5% to $3,330.10. Three top aides of U.S. President Donald Trump will meet with their Chinese counterparts in London later in the day to discuss the trade disputes between the two economies, a standoff that has kept global markets on edge. "Short-term traders do not want to take...
The Silver (XAG/USD) price trades in positive territory around $36.00 during the Asian session on Monday. The white metal edges higher despite the stronger-than-expected US employment data for May. Later on Monday, investors will closely watch the developments surrounding US-China trade talks. Geopolitical and economic uncertainty could provide some support to the Silver price as investors seek more holdings in safe-haven assets. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer are set to speak with Chinese officials about...
The Japanese yen appreciated past 144.5 per US dollar on Monday, rebounding after two consecutive days of losses, as revised data showed the country's first-quarter GDP was flat—an improvement from the previously estimated 0.2% contraction. Despite the upward revision, the result still reflects a sharp deceleration from the 0.6% growth recorded in the prior quarter. Separately, Japan's current account surplus narrowed in April and fell short of market expectations, adding a mixed note to the economic outlook. Last week, Bank of Japan Governor Kazuo Ueda reaffirmed the central bank's...
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....