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 trimmed momentum sharply on Wednesday, sticking to a flat holding pattern near the 1.1200 handle despite an early pop in bids. European economic data has been largely a non-starter this week, as is typical. However, a one-two punch of key inflation data from the United States (US) has given plenty of traders something to chew on. German final Harmonized Index of Consumer Prices (HICP) for April came in exactly as expected on Wednesday, and data on the US side was strictly mid-tier, giving markets some breathing space between this week's Consumer Price Index (CPI) inflation data...
The AUD/USD pair is trading near the lower end of its daily range, reflecting a mixed technical outlook. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, has dipped toward the 100.60 area, pressured by soft US inflation data and speculation about a possible dovish shift from the Federal Reserve (Fed). US officials recently downplayed speculation about a deliberate dollar-weakening strategy, but concerns persist as trade discussions with South Korea suggest room for stronger local currencies. This uncertainty has contributed to...
The EUR/USD pair traded near the 1.1200 zone on Wednesday after the European session, reflecting a cautiously bullish tone as the market approaches the Asian session. Price action remains within the middle of its daily range, indicating balanced sentiment despite a mixed technical backdrop. While shorter-term momentum indicators signal caution, the broader trend remains supported by longer-term averages, providing a foundation for further upside if recent gains hold. From a technical standpoint, the pair presents a complex picture. The Relative Strength Index hovers around 40, reflecting...
Oil prices edged lower on Wednesday after government data showed U.S. crude oil stockpiles rose unexpectedly last week, prompting investor concerns of excess supplies. Brent crude futures fell 40 cents, or around 0.6%, to $66.23 a barrel by 12:04 p.m. EDT (1604 GMT). U.S. West Texas Intermediate crude slipped 33 cents, or 0.52%, to $63.34. Both benchmarks, which traded close to their highest in two-weeks in the previous session, fell after data from the Energy Information Administration showed crude stockpiles rose by 3.5 million barrels to 441.8 million barrels last week. Analysts in a...
Gold fell below $3200/oz as a pause in Chinese ETF flows and geopolitical optimism triggered a pullback but underlying support from central banks and institutional inertia keeps downside risk asymmetric, TDS' Senior Commodity Strategist Daniel Ghali notes. Positive Russia-Ukraine headlines expose Gold to sharp pullback"Gold prices are breaking through the $3200/oz range. because Chinese ETF flows ground to a halt overnight after gaining steam over the last sessions, leaving the door for positive Russia-Ukraine headlines to catalyze a break." the US-China ceasefire on trade was the...
Oil prices fell on Wednesday as traders eyed a potential jump in U.S. crude inventories, while OPEC lowered its oil supply growth forecast for producers outside OPEC+. Brent crude futures fell 75 cents, or around 1.1%, to $65.88 a barrel by 1206 GMT. U.S. West Texas Intermediate (WTI) crude slipped 75 cents, or 1.2%, to $62.92. OPEC on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider OPEC+ group this year. Supply from countries outside OPEC+ will rise by about 800,000 barrels per day in 2025, down from last month's...
Gold prices fell on Wednesday as easing U.S.-China trade tensions soothed fears of a potential global recession, boosting investor risk appetite and weighing on bullion's safe-haven appeal. Spot gold fell 0.4% to $3,233.69 an ounce, as of 0828 GMT. Prices scaled a record high of $3,500.05 last month amid elevated trade war fears. "After the tariff truce announced over the weekend, we've seen stock markets surge higher, and at least in the short term, this has removed some of the safe haven focus that has helped propel gold to record highs in recent months," said Ole Hansen, head of...
Silver prices declined to below $33 per ounce on Wednesday, reversing gains from the previous session as easing global trade tensions reduced demand for safe-haven assets. The pullback followed productive US-China trade talks over the weekend in Switzerland, where both sides agreed to temporarily lower tariffs to 30% and 10%, respectively, for a 90-day period—a notable step toward de-escalation. While this has eased market fears of a prolonged trade war, uncertainty remains over what will happen once the agreement expires, with further negotiations expected in the coming weeks. Reduced...
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....