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 GBP/USD pair strengthened to around 1.3290 during the early European session on Monday (05/05). The US dollar (USD) weakened against the British pound (GBP) amid rising economic uncertainties following US President Donald Trump's erratic trade policies. According to the daily chart, the bullish outlook for GBP/USD remains intact, as the price is holding above the key 100-day Exponential Moving Average (EMA). The upside momentum is supported by the 14-day Relative Strength Index (RSI), which is above the midline near 55.60, indicating the path of least resistance is to the upside. The...
Gold prices rose on Monday, supported by a weaker dollar, as investors awaited further details on U.S.-China trade relations, along with a Federal Reserve policy meeting later this week. Spot gold was up 0.5% at $3,256.85 an ounce, by 0416 GMT. U.S. gold futures were up 0.7% at $3,265.10. The dollar (.DXY), opens in a new tab, fell 0.3% against a basket of currencies, making gold more attractive to holders of other currencies. "The U.S. dollar appears to be weakening ahead of this week's Fed meeting, which could allow gold to gain a bit," said Tim Waterer, chief market analyst at KCM...
The Japanese Yen (JPY) traded with a mild positive bias against its US counterpart for the second straight day on Monday (05/05) amid renewed safe-haven demand, although the gains lacked strong conviction. Despite signs of easing US-China trade tensions, US President Donald Trump's rapidly changing stance on trade policy kept investors cautious. Further, geopolitical risks weighed on investor sentiment and provided little support to the JPY. Moreover, a modest US Dollar (USD) weakness dragged the USD/JPY pair back closer to the 144.00 mark during the Asian session. However, the Bank of...
EUR/USD is kicking off the week on a weaker note, trading near 1.1320 during the Asian session on Monday. US President Donald Trump confirmed he would not seek to remove Federal Reserve (Fed) Chair Jerome Powell before his term ends in May 2026. While Trump criticized Powell, calling him "a total stiff," he reiterated that interest rates should eventually be lowered. Additionally, the EUR/USD pair faces headwinds possibly from potential trade tensions. Trump announced plans to direct the US Trade Representative and Commerce Department to begin the process of imposing a 100% tariff on...
The dollar was struggling to hold its ground on Monday even as concerns about a U.S. recession eased just a little, while investors awaited actual evidence of a thaw in Sino-U.S. trade relations, as opposed to just hints from officials. The solid March payrolls report had offered the dollar support by lengthening the odds on a Federal Reserve rate cut in June, and making it more likely the central bank will lean hawkish at its policy meeting this week. "The labor report leaves little doubt that the FOMC will keep rates on hold this week, and the bar for cutting is now even higher for...
WTI crude oil futures fell more than 3% to around $56.2 per barrel on Monday as OPEC+ agreed to ramp up production, fueling fears about a global supply glut. OPEC+ will accelerate oil output hikes for a second consecutive month, raising output in June by 411,000 bpd. This could bring back as much as 2.2 million bpd to the market by November as the group's leader Saudi Arabia seeks to punish some fellow members that have exceeded their quotas. These supply concerns overshadowed earlier news about China weighing talks with the U.S. that could ease trade tensions between the two economic...
The Gold price (XAU/USD) trades in positive territory near $3,245 during the early Asian session on Monday. The renewed concerns over the US recession and US-China trade relations provide some support to safe-haven assets like Gold. The US ISM Services Purchasing Managers Index (PMI) for April will be in the spotlight later on Monday. While the Chinese Commerce Ministry indicated Beijing was considering an offer from the US to hold talks over US President Donald Trump's 145% tariffs, the two sides still seem far apart. Trump avoided answering the question if there will be trade deals this...
Gold edges higher in early Asian session amid losses in U.S. stock-index futures. The precious metal's direction is likely to be determined by equities' direction and risk appetite, says Fawad Razaqzada, a market analyst at City Index and FOREX.com, in an email. Gold, which has been on the defensive since topping out around $3,500/oz recently, is trying to find its footing once again, the analyst says, adding there seems to be some short-covering occurring. Spot gold is 0.2% higher at $3,247.66/oz.(Newsmaker23) Source : Dow Jones Newswires
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....