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 US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, trades near 100.00 on Thursday, lifted modestly by upbeat US data and expectations of extended yield differentials. Markets initially cheered news of a US-UK trade deal, though enthusiasm faded as details confirmed tariffs would remain in place.Daily digest market movers: US Dollar holds ground after muted UK dealUS President Donald Trump announced a "major" trade deal with the United Kingdom, though key tariffs will remain at 10%, limiting market enthusiasm.Investors remain skeptical about...
Gold price tumbled for the second consecutive day as traders erased Bullion's advance on Tuesday, which pushed its gains past the $3,400 figure. The announcement of a US-UK trade deal boosted the US Dollar (USD) to the detriment of XAU/USD, which trades at $ 3,311, down over 1.60%. An upbeat sentiment is taking its toll on Gold prices, which have declined by almost 4% over the last two days. The announcement of a trade deal between the US and the UK, made by President Donald Trump and UK Prime Minister Keir Starmer, has improved the market mood, as traders seem confident that the US could...
Oil prices rose around 3% on Thursday, buoyed by hopes of a breakthrough in looming trade talks between the United States and China, the world's two largest oil consumers. Brent crude futures were up $1.70, or 2.8%, at $62.82 a barrel at 1:12 p.m. EDT (1712 GMT). U.S. West Texas Intermediate crude rose $1.79, or 3.1%, to $59.86. U.S. Treasury Secretary Scott Bessent will meet with China's top economic official on May 10 in Switzerland for negotiations over a trade war that is disrupting the global economy. Optimism around those talks was providing support to the market, said SEB analyst...
The USD/CHF pair is trading higher as the US Dollar (USD) gains momentum on mixed economic signals and trade optimism, while the Swiss Franc (CHF) weakens amid broader risk-on sentiment. US President Donald Trump announced a "major trade deal" with the United Kingdom (UK), though initial excitement cooled after reports indicated that a 10% tariff on UK goods would remain in place, limiting the potential economic boost from the agreement. The US Dollar Index (DXY) remains firm, trading near 100.00 as investors digest positive economic data and trade headlines. US initial jobless claims fell...
Oil prices rose over 1% on Thursday, buoyed by hopes of a breakthrough in looming trade talks between the United States and China, the world's two largest oil consumers. Brent crude futures were up 89 cents, or 1.5%, at $62.01 a barrel at 1334 GMT. U.S. West Texas Intermediate crude rose $1.02, or 1.8%, to $59.09. The market has almost stabilised at slightly above $61 a barrel, said SEB analyst Ole Hvalbye, which along with some optimism around the tariff situation with ice-breaker talks due between the U.S. and China, was providing support. U.S. Treasury Secretary Scott Bessent will meet...
Gold prices inched lower on Thursday, ahead of U.S. President Donald Trump's likely announcement of a trade deal between the United States and Britain. Spot gold was down 0.1% to $3,362.19 an ounce as of 1318 GMT, after rising 1% earlier in the session. U.S. gold futures slipped 0.7% to $3,368.50. "The gold market has been very volatile. What you're seeing are short term investors buying and selling based on news headlines," said Jeffrey Christian, managing partner of CPM Group. "Prices could trade as low as $3,050 or as high as $3,500 on a long term basis." Trump posted on Truth Social...
EUR/USD ticks lower to near 1.1280 during European trading hours on Thursday. The major currency pair edges down as the US Dollar (USD) trades slightly higher on signals from the Federal Reserve (Fed) that there is no rush to lower interest rates, which came on Wednesday just after the central bank left interest rates unchanged in the range of 4.25%-4.50% for the third time in a row. The US Dollar Index (DXY), which gauges the Greenback's value against six major currencies, ticks higher to near 100.00. Fed Chair Jerome Powell stated that "uncertainty about the economic outlook has...
The U.S. dollar rose Thursday, retaining some strength after the Federal Reserve highlighted stagflation risks at its latest meeting, prompting traders to push out the chance of near-term rate cuts. At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, gained 0.4% to 99.877, having bounced around 0.3% in the previous session. Dollar gains on hawkish Fed The U.S. central bank kept its benchmark interest rate steady in the 4.25%-4.50% range on Wednesday, but said that the risks of both higher inflation and unemployment had risen and...
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....