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...
USD/CHF continues its losing streak for the third successive session, trading around 0.8210 during the Asian hours on Monday. The pair loses ground as the US Dollar (USD) may face challenges amid growing concerns regarding slow growth and renewed inflation in the United States (US). US President Donald Trump threatened to double import tariffs on steel and aluminum, increasing them to 50% from 25%. Additionally, the Swiss Franc (CHF) receives support from increased safe-haven demand following decision by the US Court of Appeals for the Federal Circuit in Washington, on Thursday,...
Gold price (XAU/USD) regains positive traction at the start of a new week and climbs beyond the $3,300 mark during the Asian session, reversing a major part of Friday's losses. The Personal Consumption Expenditures (PCE) Price Index released on Friday further pointed to signs easing inflationary pressures in the US and bolstered the case for more rate cuts by the Federal Reserve (Fed). This, in turn, is seen weighing on the US Dollar (USD) and acting as a tailwind for the non-yielding yellow metal. Meanwhile, geopolitical risks stemming from the protracted Russia-Ukraine war and conflicts...
EUR/USD retraces its recent losses registered in the previous session, trading around 1.1370 during the Asian hours on Monday. The pair appreciates as the US Dollar (USD) struggles as the US Court of Appeals, on Thursday, ruling allowing US President Donald Trump's tariffs to take effect. On Wednesday, a three-judge panel at the Court of International Trade in Manhattan said that Trump exceeded his authority in imposing broad import tariffs and declared the executive orders issued on April 2 unlawful. On Friday, President Trump said at a rally in Pennsylvania that he planned to double...
The dollar index fell toward 99 on Monday, erasing gains from the previous week as investor sentiment soured amid renewed trade tensions. The decline followed President Donald Trump's announcement that the US will double tariffs on steel and aluminum imports to 50% starting June 4. Tensions with China also escalated after Beijing rejected Trump's claim that it had violated the trade agreement reached in Geneva last month, casting doubt on the likelihood of a near-term call between the two nations' leaders. Still, National Economic Council Director Kevin Hassett said over the weekend that...
The GBP/USD pair regains positive traction at the start of a new week amid renewed US Dollar (USD) selling, though it remains below the 1.3500 psychological mark during the Asian session. The Personal Consumption Expenditures (PCE) Price Index released on Friday pointed to further easing inflationary pressures in the US and bolstered the case for more policy easing by the Federal Reserve (Fed). Adding to this, concerns about the worsening US fiscal condition, fueled by the passage of US President Donald Trump's "Big Beautiful Bill," exert fresh downward pressure on the USD. The British...
The Japanese Yen (JPY) remains on the front foot against its American counterpart for the third consecutive day on Monday and seems poised to strengthen further amid a combination of supporting factors. The Tokyo Consumer Price Index (CPI) released on Friday indicated that core inflation accelerated more than expected in May and reaffirmed bets that the Bank of Japan (BoJ) will continue raising interest rates. Furthermore, persistent trade-related uncertainties and geopolitical risks turn out to be key factors underpinning the safe-haven JPY. Meanwhile, comments from Japan's top trade...
Oil prices rebounded more than $1 a barrel on Monday after OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, in line with market expectations. Brent crude futures climbed $1.19, or 1.9%, to $63.97 a barrel by 0044 GMT after settling 0.9% lower on Friday. U.S. West Texas Intermediate crude was at $62.09 a barrel, up $1.30, or 2.14%, following a 0.3% decline in the previous session. Both contracts were down more than 1% for the week. The Organization of the Petroleum Exporting Countries and their allies decided on Saturday to raise output...
The Australian dollar rose to around 0.646 on Monday, supported by a weakening greenback amid investor concerns over US President Donald Trump's tariff measures. On Friday, Trump announced plans to double tariffs on steel and aluminum imports from 25% to 50% effective June 4. The announcement, along with escalating US–China trade tensions, deepened investor anxiety over slowing growth and mounting inflationary pressures. In Australia, data showed the manufacturing sector weakened for the second consecutive month in May, falling to its lowest level since February a sign of slowing...
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....