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 AUD/USD pair remains resilient, despite a retreat from recent highs. The Australian Dollar (AUD) benefits from a weaker US Dollar (USD), as market participants focus on the Federal Reserve's (Fed) anticipated policy meeting on Wednesday. Meanwhile, the trade rhetoric surrounding the Trump administration keeps traders on edge, especially with President Donald Trump discussing possible changes to the United States-Mexico-Canada Agreement (USMCA). However, no definitive updates have been provided regarding trade deals, leaving uncertainty in global markets. The Australian Dollar is also...
Gold (XAU/USD) is rising sharply on Tuesday, supported by a convergence of geopolitical conflict, trade policy uncertainty, and investor defensiveness ahead of Wednesday's Federal Reserve (Fed) interest rate decision and Chair Jerome Powell's press conference. At the time of writing, Gold is trading around $3,396 per ounce, up 1.90% on the day and 4.5% on the week, as investors seek refuge from mounting global risks and a weakening US Dollar (USDThe rally in Gold reflects deepening global unease. Israel's expanding military campaign in Gaza, coupled with increased activity by Iranian-backed...
Oil gained more than $1.50 per barrel on Tuesday, rebounding on technical factors and bargain hunting after a decision by OPEC+ to boost output sent prices down in the previous session, although concerns about a market surplus persisted. Brent crude futures were up $1.80, or 3%, to $62.03 a barrel by 1310 GMT, the first gain after six consecutive declines, while U.S. West Texas Intermediate crude added $1.81, or 3.2%, to $58.94 a barrel. Both benchmarks had settled at their lowest levels since February 2021 on Monday, driven by an OPEC+ decision over the weekend to further speed up oil...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, edges lower while remaining stuck in a very tight range on Tuesday. Market participants are assessing the recent sharp move in the Taiwan Dollar (TWD), which appreciated by more than 5% against the Greenback on Monday before retreating somewhat on Tuesday. Markets are trying to assess if a spillover effect could occur, affecting bigger Asian currencies such as the South Korean Won (KRW), the Japanese Yen (JPY) or the Chinese Renminbi (CNH). Meanwhile, on the geopolitical front, a...
Gold prices rose to a two-week high on Tuesday, as tariff threats from U.S. President Donald Trump lifted demand for the safe-haven metal, while the Federal Reserve's policy decision this week was also in focus. Spot gold rose 1.4% to $3,381.37 an ounce, as of 1009 GMT, after hitting its highest since April 22 earlier in the session. U.S. gold futures gained 2% to $3,389.20. "The structural factors that supported gold in recent weeks are all still around - trade tensions are not fixed, concern about the dollar as a reserve currency," said UBS analyst Giovanni Staunovo. "We are still...
The AUD/USD pair corrects sharply to near 0.6450 in Tuesday's European session from the five-month high of 0.6500 posted on Monday. The Aussie pair retraces as the Australian Dollar (AUD) underperforms across the board due to a slowdown in business activity in China. Signs of moderate growth in economic activities in China weigh heavily on the Aussie Dollar, given Australia's significant reliance on its exports to Beijing. Caixin Manufacturing and Services Purchasing Managers' Index (PMI) data for April have demonstrated that businesses are facing pressure due to the fallout of higher...
The euro held steady around $1.13, slightly below the nearly three-year high reached in April, continuing to benefit from broad dollar weakness. Traders remained focused on the ongoing trade war, particularly negotiations between the US and several Asian countries, while talks with China appeared to have stalled. Meanwhile, Friedrich Merz faced an unexpected setback after failing to secure election as German Chancellor in the first round of parliamentary voting. Although the next steps remain uncertain, it potentially delayed Merz's swearing-in. His CDU-led coalition with the centre-left...
Oil rose from its lowest close in four years after a technical gauge suggested the recent crude decline may have been overdone. Brent rose to trade near $61 a barrel after falling nearly 10% over the past six sessions, and West Texas Intermediate rose to around $58. Both benchmarks recently fell into oversold territory on the nine-day relative strength index and breached the lower Bollinger Bands, both pointing to a market that has fallen too fast. China's markets are also reopening after a holiday. There are also signs that lower oil prices are starting to impact supplies outside the...
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....