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 USD/CHF pair recovers some lost ground to near 0.8220 during the early European session on Tuesday. However, the potential upside for the pair might be limited amid the concerns over the mounting US national deficit. Traders await the US Conference Board's Consumer Confidence report, which is due later on Tuesday. Also, Durable Goods Orders and the Dallas Fed Manufacturing Index will be published. As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland's main economic partner and a key...
Oil prices slipped for a second session on Tuesday on increasing expectations members of the Organisation of Petroleum Exporting Countries and their allies, known as OPEC+, will decide to increase their output at a meeting later this week. Brent crude futures shed 24 cents, or 0.4%, to $64.50 a barrel by 0507 GMT, while U.S. West Texas Intermediate (WTI) crude was down 29 cents, or 0.5%, at $61.24 a barrel. The WTI contract did not settle on Monday because of the U.S. Memorial Day holiday. "Crude oil edged lower as the market contemplated the outlook for rising OPEC supply," Daniel Hynes,...
The Australian dollar declined to around $0.648 on Tuesday, pulling back from a six-month high reached in the previous session, as investors adopted a risk-off stance in response to mounting global economic and trade uncertainties. Markets remained focused on fiscal developments in the US and shifting tariff policies under the Trump administration, which have contributed to increased market volatility. Traders also braced for key inflation data in Australia this week, which could prove pivotal in shaping the Reserve Bank of Australia's policy trajectory. Last week, the RBA lowered its...
Gold price (XAU/USD) struggles to gain any meaningful traction and oscillates in a narrow band during the Asian session on Tuesday amid mixed fundamental cues. Investors cheered US President Donald Trump's decision to delay imposing tariffs on the European Union (EU), which, in turn, is seen acting as a headwind for the safe-haven commodity. However, the uncertainty around Trump's trade policies keeps a lid on the optimism, which, along with a broadly weaker US Dollar (USD), lends support to the precious metal. Investors remain worried that Trump's sweeping tax cuts and spending bill...
Silver price (XAG/USD) loses ground after registering gains in the previous two sessions, trading around $33.40 per troy ounce during the Asian hours on Tuesday. The grey metal attracts sellers due to diminished safe-haven demand amid the easing trade tension between the United States (US) and the European Union (EU) improves the traders' risk appetite. Following Friday's threat by Trump to impose a 50% tariff on imports from the European Union, the US President decided to extend the tariff deadline on the European Union (EU) after having a phone call with European Commission President...
GBP/USD extends its winning streak for the third successive session, trading around 1.3570 during the Asian hours on Tuesday. The pair is hovering near the 39-month high of 1.3593, which was marked on Monday. The pair continues to appreciate as the US Dollar (USD) weakens due to growing fears over the United States' (US) debt concerns. The Greenback faces challenges as the easing trade tension between the United States (US) and the European Union (EU) improves the traders' risk appetite. US President Donald Trump extended the tariff deadline on the European Union (EU) from June 1 to July 9...
The Japanese yen strengthened toward 142 per dollar on Tuesday, reaching its highest level in four weeks as the US dollar continued to retreat amid growing fiscal concerns. Market sentiment was weighed down by President Donald Trump's sweeping tax and spending bill, which is expected to significantly widen the US fiscal deficit. The yen also benefited from safe-haven demand as investors reacted to increased market volatility driven by Trump's unpredictable trade stance. After threatening to impose a 50% tariff on the European Union, Trump abruptly delayed the measure, adding to investor...
Oil prices were little changed in Asian trading on Tuesday, as investors stayed on the sidelines ahead of a closely watched OPEC+ meeting that could provide key signals on future supply levels. Market activity remained muted, partly due to Monday's public holidays in both the U.S. and the UK. As of 20:58 ET (00:58 GMT), Brent Oil Futures expiring in July edged up 0.1% to $64.77 per barrel, while West Texas Intermediate (WTI) crude futures were unchanged at $61.53 per barrel. Oil was supported as U.S. President Donald Trump on Monday extended a deadline for his proposed reciprocal tariffs...
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....