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 Japanese Yen (JPY) snaps a two-day losing streak against its American counterpart as traders opt to move to the sidelines and wait for the crucial Bank of Japan (BoJ) policy decision this Thursday. Moreover, the updated economic projections and BoJ Governor Kazuo Ueda's comments at the post-meeting press conference will be scrutinized for cues about the likely timing of the next interest rate hike. This, in turn, will play a key role in determining the next leg of a directional move for the JPY. Heading into the key central bank event risk, hopes for the potential de-escalation of the...
Oil prices take breather after selloff on supply worriesOil prices edged higher on Thursday, steadying slightly after sharp losses on the previous day driven by signs Saudi Arabia could produce more, and as the U.S. economy contracted in the first quarter. Brent crude futures rose 16 cents, or 0.3%, to $61.22 a barrel. U.S. West Texas Intermediate crude futures climbed 6 cents or 0.1%, to $58.27. WTI closed at its lowest since March 2021 on Wednesday. Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further...
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near two-week low amid easing US-China trade tensions as traders hope for US-China trade deal after US President Donald Trump's comments Risk sentiment is improving as Trump said early Thursday that there is a "very good probability that the United States will reach a deal with China, but the agreement must align with its conditions. Optimism surrounding tariff lift the Greenback and weakens demand for traditional safe-haven assets like Gold as it makes...
Gold fell for a third day on signs of progress in potential trade talks between the US and China, denting demand for safe havens. Bullion prices fell as much as 0.6% to trade near $3,275 an ounce. State-run China Central Television said the US had contacted Beijing through multiple channels. News that the Trump administration was close to announcing the first phase of a deal that would roll back planned tariffs on some countries also eased some concerns about the outlook for global trade. On Wednesday, the precious metal slid further from a record high hit last week, even after data showed...
Oil was little changed after posting its biggest monthly decline since 2021, as signs that the Saudi-led OPEC+ alliance may be entering a prolonged period of higher output added to concerns that a global trade war would hurt demand. West Texas Intermediate was trading around $58 a barrel after falling 3.7% on Wednesday, while the most-active Brent contract settled near $61. Reuters reported that Saudi officials have told allies and industry experts that the kingdom could endure a prolonged period of depressed prices, adding to existing concerns that the biggest oil exporter plans to direct...
USD/CHF is trading with losses, holding near recent lows after a wave of weak US data and worsening macro signals from China triggered broad risk-off flows in the market. Sentiment was already fragile heading into Wednesday, and the release of disappointing US GDP data raised concerns over the health of the US economy. At the same time, weak Chinese manufacturing and services PMIs revealed the first clear signs of stress from the escalating trade war, raising fears of a global economic slowdown. The US dollar was broadly under pressure, struggling to gain any momentum despite the month-end...
Oil prices fell on Wednesday, posting their biggest monthly drop in nearly 3-1/2 years after Saudi Arabia signaled moves to produce more and expand its market share, while a global trade war eroded the outlook for fuel demand. Brent crude fell $1.13, or 1.76%, to settle at $63.12 a barrel. U.S. West Texas Intermediate crude fell $2.21, or 3.66%, to settle at $58.21, its lowest close since March 2021. Brent fell 15% for the month and WTI slid 18%, their biggest monthly percentage declines since November 2021. Both benchmarks slumped after Saudi Arabia, one of the world's biggest oil...
Gold prices pared some losses on Wednesday as bets that the U.S. Federal Reserve will cut interest rates grew after U.S. growth in the first quarter came in weaker than expected. Spot gold fell 0.2% to $3,308.32 an ounce by 1:58 AM ET (1758 GMT), but was on track for a fourth straight monthly gain, up nearly 6% so far in April. Bullion had fallen more than 1% earlier in the session. U.S. gold futures settled 0.4% lower at $3,319.10. Data showed U.S. gross domestic product contracted at an annualized rate of 0.3% in the last quarter, as businesses rushed to import goods ahead of expected...
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....