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...
Gold price (XAU/USD) trims a part of intraday gains, though it retains positive bias for the first time in three days and holds comfortably above the $3,300 mark through the Asian session on Thursday. Hopes for a possible US-China trade deal, along with easing fears about the Federal Reserve's (Fed) independence, remain supportive of a positive risk tone. This, in turn, is seen as a key factor acting as a headwind for the safe-haven bullion. Meanwhile, US Treasury Secretary Scott Bessent tempered expectations for a quick resolution to the US-China trade standoff. Apart from this, a modest...
The Japanese Yen (JPY) sticks to its positive bias through the Asian session on Thursday as fading hopes for a quick resolution to the US-China tradeoff underpin demand for traditional safe-haven assets. Furthermore, expectations that Japan will strike a trade deal with the US and bets for more interest rate hikes by the Bank of Japan (BoJ) turn out to be other factors that lend some support to the JPY. Apart from this, a modest US Dollar (USD) downtick keeps the USD/JPY pair depressed below the 143.00 round-figure mark. Meanwhile, signs of receding trade tensions between the US and China,...
The USD/CHF pair fails to capitalize on a two-day-old recovery from the lowest level since September 2011 and attracts some sellers during the Asian session on Thursday. Spot prices, however, lack bearish conviction and currently trade just below the 0.8300 mark, down 0.25% for the day and close to a nearly two-week high touched on Wednesday. Despite easing fears about the Federal Reserve's (Fed) independence, the US Dollar (USD) bulls remain on the sidelines amid the weakening confidence in the US economy on the back of the uncertainty about US President Donald Trump's trade policies....
The Australian Dollar (AUD) remains steady on Thursday following two consecutive days of losses. The AUD/USD pair could see gains as the US Dollar (USD) faces pressure after the Federal Reserve's (Fed) Beige Book suggested weakening economic conditions. According to the Fed's April Beige Book, concerns over tariffs have worsened the economic outlook across several regions in the United States (US). Consumer spending presented a mixed picture, while the labor market showed signs of softening, with many districts reporting flat or slightly declining employment levels. Westpac anticipates...
Silver (XAG/USD) attracts some sellers after hitting a nearly three-week top near the $33.70 region during the Asian session on Thursday and erodes a part of the previous day's strong move up. The white metal currently trades around the $33.35-$33.30 area, down 0.75% for the day, though the technical setup supports prospects for the emergence of dip-buyers at lower levels. The overnight breakout through a short-term trading range held over the past week or so, along with the fact that oscillators on the daily chart have just started gaining positive traction, validates the near-term...
Oil prices inched higher in Asian trade on Thursday following steep losses in the prior session, as investors digested reports that OPEC+ plans to further ramp up production in June. The commodity was supported by signals of potential tariff negotiations between the U.S. and China.Brent Oil Futures expiring in June edged 0.3% higher to $66.33 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.2% to $61.78 per barrel. Both contracts settled nearly 2% lower on Wednesday in anticipation of increased supply from the Organization of the Petroleum Exporting Countries. OPEC+...
The dollar index slipped to around 99.6 on Thursday, easing after two consecutive sessions of gains, as investors took stock of President Donald Trump's shifting stance on Chinese tariffs. The Trump administration is reportedly considering lowering tariffs on Chinese imports pending talks with Beijing, while China signaled openness to trade talks on the condition that Washington refrains from further threats. However, optimism was tempered by comments from US Treasury Secretary Scott Bessent, who clarified that Trump has not proposed any unilateral tariff cuts and that formal negotiations...
Gold rose toward $3,360 per ounce on Thursday, following a two-day decline, as lingering uncertainty over the US-China trade war sustained demand for the safe-haven asset. Treasury Secretary Scott Bessent said Wednesday that steep tariffs between the US and China will need to be reduced before trade talks can advance, though he emphasized that President Trump will not unilaterally cut tariffs on Chinese goods. Meanwhile, Trump plans to exempt carmakers from certain tariffs after weeks of intense lobbying by industry executives, easing some concerns over trade tensions. Gold has now risen...
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....