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...
AUD/USD retreated from a five-month high of 0.6493 hit on Monday, dropping to around 0.6450 during the Asian session on Tuesday (06/05). The decline came as the US Dollar (USD) strengthened ahead of the Federal Reserve's (Fed) upcoming monetary policy decision on Wednesday. While the Fed is widely expected to keep interest rates on hold, investors' focus remains on Chairman Jerome Powell's remarks, especially amid uncertainty over tariffs and growing pressure from President Donald Trump to cut rates. Adding to the mix, Treasury Secretary Scott Bessent said on Monday that the US was "very...
EUR/USD is hovering near the 1.1300 level to start the new trading week. Fiber has been stuck in an uncertain consolidation phase as Euro traders struggle to initiate a fresh push in either direction. European data remains limited this week: final Purchasing Managers' Index (PMI) data due later this week is unlikely to produce any surprises, and pan-European Retail Sales figures due Wednesday morning are already expected to disappoint markets, poisoning the water supply and leaving Fiber traders focused on this week's key Federal Reserve (Fed) interest rate decision. The Fed is widely...
Oil prices steadied after a sharp decline with the prospect of more OPEC+ supply weighing on the outlook, as the U.S.-China trade war continues. West Texas Intermediate crude futures were trading above $57 a barrel after falling 2% on Monday, with Brent crude settling near $60. Saudi Arabia has warned of further output increases if the group's overproducing members don't follow suit, following its decision to significantly increase output in June, delegates said. Read More: Saudi Raises Oil Prices to Asia Despite More OPEC+ Supply The supply increases by OPEC and its allies have added to...
Gold edges lower in early Asian trade on a likely technical correction after front-month gold futures closed 2.5% higher on Monday. However, support has been found at the 20-day simple moving average, and the precious metal's momentum has realigned with the well-established bullish trend on the daily chart, says Matt Simpson, market analyst at FOREX.com and City Index, in an email. Market participants will probably now monitor whether gold's latest rally can extend beyond short-covering and stabilize above key support and resistance levels, Simpson adds. Spot gold is 0.1% lower at...
The AUD/USD pair surged on Monday, reaching a fresh five-month high near the 0.6500 level. The Australian Dollar (AUD) benefits from a range of factors, including the US Dollar's (USD) weakness, a solid economic report from the US and the strengthening of global risk sentiment. The Australian Dollar's performance also mirrors broader optimism stemming from the victory of Anthony Albanese's Labor Party in Australia's parliamentary elections, signaling the continuation of stable economic policies. Meanwhile, ongoing trade talks, particularly between the US and China, have contributed to a...
Crude Oil prices are clawing back near-term losses sparked by a planned OPEC output increase.WTI briefly plunged below $65 per barrel as global glut fears resurface.OPEC is poised to reverse its self-imposed two-year production cut beginning in June.West Texas Intermediate (WTI) Crude Oil prices are stabilizing on Monday, clawing back near-term losses after the Organization of the Petroleum Exporting Countries (OPEC) announced it would begin stepping up its internal production quotas beginning in June. The move is broadly seen as a way to punish smaller OPEC member nations that flouted...
Gold (XAU/USD) prices jumped over 2%, or more than $70, on Monday as the Greenback was battered, although positive economic data from the United States (US) suggests the economy remains solid. XAU/USD trades at $3,309 after bouncing off daily lows of $3,237. Market mood improved following a report by the Institute for Supply Management (ISM) that service providers reassured the robustness of the US economy. The data hinted that prices are rising, ignited by US President Donald Trump's tariffs Over the weekend, Trump announced 100% duties on foreign-produced movies while saying that the...
The U.S. dollar was mostly lower against major currencies, including the yen and the euro, on Monday as markets weighed continued uncertainty from President Donald Trump's policies and their impact on the economy. The greenback slid to a fresh record low against the Taiwan dollar to 28.8150 amid speculation that Taiwan was letting its currency appreciate as part of a trade deal with the U.S., or at least was unwilling to intervene to stop it rising alongside sharp inflows in capital. Trump doubled down on tariff-driven policies during an interview on Sunday, reiterating that the duties on...
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....