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...
Gold price (XAU/USD) struggles to capitalize on a modest Asian session uptick and currently trades just below the $3,300 mark, close to the weekly low touched the previous day. Better-than-expected US economic data released on Tuesday calmed recession fears and assisted the US Dollar (USD) in attracting buyers for the second straight day, which, in turn, is seen undermining the commodity. Apart from this, a generally positive risk tone turns out to be another factor acting as a headwind for the safe-haven precious metal. However, the uncertainty surrounding US President Donald Trump's...
Silver price (XAG/USD) recovers its recent losses registered in the previous session, trading around $33.30 per troy ounce during the Asian hours on Wednesday. However, the precious metals, including Silver, faced selling pressure amid a strengthening US Dollar (USD). The dollar-denominated Silver lost its shine as a higher US Dollar makes it expensive for foreign buyers. The Greenback received support after Japan hinted at potential cuts in government debt issuance, boosting global bond markets and putting downward pressure on US yields. At the time of writing, the 10- and 30-year yields...
Oil prices inched up on Wednesday as investors considered supply risks after the U.S. barred Chevron (NYSE:CVX) from exporting crude from Venezuela under a new asset authorisation, though expectations of more output from OPEC+ continued to limit gains. Brent crude futures rose 25 cents, or 0.4%, to $64.34 a barrel by 0345 GMT, while U.S. West Texas Intermediate crude gained 24 cents, or 0.4%, at $61.13 a barrel. The Trump administration has issued a new authorisation for U.S.-major Chevron that would allow it to keep assets in Venezuela but not to export oil or expand its activities,...
The Japanese yen weakened past 144.5 per dollar on Wednesday, marking its third straight session of losses as investors digested recent comments from top policymakers and developments in the bond market. BOJ Governor Kazuo Ueda noted that ongoing trade negotiations with the US are contributing to a highly uncertain outlook. He previously reiterated the central bank's willingness to adjust monetary policy as needed to ensure inflation targets are achieved. Finance Minister Katsunobu Kato added that authorities are closely monitoring conditions in the bond market. On Tuesday, both the yen...
The US dollar index rose to around 99.7 on Wednesday, extending gains from the previous session as improving US consumer confidence bolstered sentiment toward the greenback. Market optimism was further supported by President Trump's decision to delay a planned 50% tariff on the EU, easing concerns over escalating trade tensions and improving the outlook for US assets. Meanwhile, European leaders have reportedly asked top companies and CEOs to outline their US investment plans ahead of upcoming trade negotiations with Washington. On the monetary policy front, Minneapolis Fed President Neel...
Gold edged up after a two-day decline, as markets remained in wait-and-see mode despite data showing improving economic sentiment and signs of progress in trade talks. Bullion prices were trading near $3,309 an ounce after falling 1.3% on Tuesday as U.S. consumer confidence rose sharply in May from a near five-year low, signaling a more positive outlook for the economy and labor market. The dollar rose after the data, making bullion more expensive for most buyers. Investors also weighed improving trade relations between Washington and Brussels, with U.S. President Donald Trump saying he...
The EUR/USD pair dipped below 1.1400 for the second straight day, boosted by the recovery of the US Dollar (USD) following an upbeat Consumer Confidence report. Additionally, weak inflation data in France weakened the common currency, which was trading on Tuesday at 1.1335, down more than 0.40%. Risk appetite improved as market participants digested news that US President Donald Trump said trade talks between the United States (US) and the European Union (EU) were gaining strength following his threat of 50% tariffs last Friday. Although he backed off, leaving some room for negotiations, it...
Oil prices fell 1% on Tuesday as investors worried about a supply glut after Iranian and U.S. delegates made progress in their talks and expectations that OPEC+ would decide to raise output at a meeting this week. Brent crude futures settled down 65 cents, or 1%, at $64.09 a barrel, while U.S. West Texas Intermediate crude fell 64 cents, or about 1.04%, to $60.89 a barrel. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are not expected to change policy at a meeting on Wednesday. However, another meeting on Saturday is likely to agree on a further...
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....