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...
Silver (XAG/USD) edges lower after testing the three-week top during the Asian session on Friday and currently trades around the mid-$33.00s, down 0.30% for the day. The technical setup, however, warrants caution before positioning for any meaningful depreciating move. This week's breakout above the $33.00 round figure, representing the top end of a multi-day-old range and the 61.8% Fibonacci retracement level of the March-April downfall, was seen as a key trigger for bullish traders. Moreover, oscillators on the daily chart have been gaining positive traction and are still far from being...
The Japanese Yen (JPY) edges lower during the Asian session on Friday as hopes for the potential de-escalation of the US-China trade standoff remain supportive of a positive risk tone and temper demand for traditional safe-haven assets. Apart from this, a modest US Dollar (USD) uptick assists the USD/JPY pair to climb back above the 143.00 mark and reverse a part of the previous day's pullback from a nearly two-week high. Meanwhile, government data showed that consumer inflation in Tokyo Japan's capital city accelerated sharply in April and reaffirmed market bets for more interest rate...
The dollar drifted higher on Friday, following small losses a day earlier, as traders grappled with the outlook for the U.S. economy following President Donald Trump's erratic messaging on trade deals and Federal Reserve interference. The U.S. currency has oscillated wildly this week, starting with a 1% tumble against major peers on Monday after Trump threatened to fire Fed Chair Jerome Powell for not cutting interest rates quickly enough, only to surge 1.5% a day later as Trump said he never had any intention of replacing Powell, and mooted a de-escalation in his trade war with China. A...
The GBP/USD pair attracts some sellers to around 1.3310 during the early Asian session on Friday, pressured by the renewed US Dollar (USD) demand. The UK Retail Sales data for March will be the highlight later on Friday. The Greenback edges higher amid the optimism about a US trade deal announcement, which acts as a headwind for the major pair for the time being. UK Finance Minister Rachel Reeves said on Thursday she was confident Britain could reach a trade deal with the US. Reeves is scheduled to meet US Treasury Secretary Scott Bessent on Friday. High on the agenda will be a possible...
Gold extended its recent gains above $3,350 per ounce on Friday, on track for its third weekly advance, as skepticism over a US-China trade deal continued to support the metal's safety appeal. On Thursday, President Trump stated that trade talks with China are in progress, countering Chinese claims that no discussions have taken place to ease the ongoing dispute. Meanwhile, US Treasury Secretary Bessent said the steep tariffs between the two countries must be reduced before negotiations can move forward, but emphasized that Trump would not unilaterally lower tariffs on Chinese imports....
The US dollar (USD) weakened on Thursday (4/24) as a mix of mixed economic data, dovish Federal Reserve (Fed) signals, and unclear US-China tariff messages rattled market sentiment. After testing highs near 100.00 earlier in the day, the US Dollar Index (DXY) reversed course and was last seen hovering around 99.41, down 0.37%. Investors recalibrated expectations after US President Donald Trump and Treasury Secretary Scott Bessent rejected claims of unilateral tariff cuts on Chinese goods. While Trump hinted at potential tariff relief if talks resume, Chinese officials reiterated that no...
Oil prices edged up on Thursday as investors weighed a weaker U.S. dollar, potential OPEC+ production increases, mixed economic news, conflicting U.S. tariff signals and news from the Russia-Ukraine war. Brent crude futures rose 43 cents, or 0.7%, to settle at $66.55 a barrel. U.S. West Texas Intermediate (WTI) crude rose 52 cents, or 0.8%, to settle at $62.79. In the U.S., the number of people filing for unemployment benefits rose slightly last week, indicating a resilient labor market despite economic turbulence caused by tariffs on imported goods. Companies raised prices and cut...
Gold prices rose on Thursday after falling more than 3% in the previous session, helped by a weaker dollar and bargain hunting, while market attention remained focused on the latest news on U.S.-China trade relations. Spot gold was up 1.4% at $3,333.90 an ounce, as of 1:46 p.m. EDT (1746 GMT). Bullion hit a record high of $3,500.05 on Tuesday on concerns about the U.S. economy, but prices fell on Wednesday after U.S. President Donald Trump walked back his threat to fire the Federal Reserve chief and appeared to soften his stance on China. U.S. gold futures settled 1.7% higher at $3,348.60....
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....