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 US Dollar Index (DXY) fell slightly by 0.1% to around 99.20 during the Asian session on Wednesday (December 3). This weakening occurred due to increasing speculation that Kevin Hassett, White House Economic Advisor, could replace Jerome Powell as Chairman of the Federal Reserve after his term ends in May. Statements by US President Donald Trump, who publicly mentioned Hassett as a potential candidate, further strengthened market expectations. Analysts believe that if Hassett leads the Fed, the central bank's independence could be threatened, as he is known to strongly support Trump's...
The Australian Dollar (AUD) rose and reached a three-week high against the US Dollar (USD) during Wednesday's Asian session. This rise occurred despite less-than-satisfactory Australian economic data.The Australian Bureau of Statistics reported that third-quarter economic growth fell to 0.4% from 0.6% previously, a figure lower than market expectations. Typically, such poor data would put pressure on the AUD, but this time it had little impact.One factor was the hawkish stance of the Reserve Bank of Australia (RBA). RBA Governor Michele Bullock stated that inflation remains higher than...
Profit-Taking Pressures Gold, Will It Fall Further? | Profit-Taking Tekan Emas, Bakal Lanjut Turun? The global gold price (XAU/USD) fell to around $4,210 in early Asian trading on Wednesday morning. This decline followed a strong previous rally, when many market participants opted to take profits first. Investors also chose to wait for the release of important US economic data in the next few days before opening new positions. Today, the market is awaiting the release of the ADP Employment Change (private employment data) and the ISM Services PMI (service sector activity). Both of these...
Silver remains stable near its record high after rising about 17% over the past seven sessions. This rally is due to traders expecting lower US interest rates, which typically benefit precious metals. Meanwhile, gold prices remained flat after a two-day decline, reflecting the market's anticipation of new monetary policy direction from the Federal Reserve. Investors are focusing on the possibility of a rate cut by the new Federal Reserve Chair and US economic data due this month. Lower interest rates make gold and silver more attractive because precious metals do not pay interest. The...
The USD/JPY pair rose again to around 155.85 at the start of Wednesday's Asian session, after declining for three consecutive days. The slight strengthening of the US dollar occurred as markets awaited the release of important economic data from the United States. However, the USD's gains still appeared limited due to volatile risk sentiment. The US dollar found some support, but recent reports regarding the next Federal Reserve Chair candidate have made market participants cautious. Kevin Hassett, a White House economic adviser, is said to be the leading candidate. He is known to support...
Oil held a decline as traders weighed the outlook for an end to the war in Ukraine following high-level talks between the US and Russia, while attacks on Moscow's energy assets continued. West Texas Intermediate was below $58 a barrel after falling 1.2% on Tuesday. Brent closed near $62. The Kremlin said Vladimir Putin held "very useful" talks with US envoys Steve Witkoff and Jared Kushner, though the sides failed to reach agreement on a plan to end Russia's war in Ukraine. The talks came against the backdrop of another attack on a Russia-linked tanker, but it remains...
Oil prices fell 1% on Tuesday (December 2nd) as the market weighed fading hopes for a Russia-Ukraine peace deal and concerns about oversupply. Brent crude futures closed 72 cents lower, or 1.14%, at $62.45 a barrel, while U.S. West Texas Intermediate crude fell 68 cents, or 1.15%, to $58.64 a barrel. Both benchmarks rose more than 1% on Monday. Investors shifted their focus to Russia-Ukraine peace talks as Russian President Vladimir Putin met with U.S. President Donald Trump's special envoy, Steve Witkoff, and his son-in-law, Jared Kushner, in the Kremlin on Tuesday. "Oil prices were...
Gold (XAU/USD) fell about 0.80% on Tuesday (December 2nd) as traders appeared to be taking profits ahead of next week's Federal Reserve (Fed) monetary policy meeting, amid a strengthening US dollar. At the time of writing, XAU/USD was trading at $4,193, after hitting a daily high of $4,240. XAU/USD weakened as traders unwound their positions ahead of next week's FOMC decision. The optimistic market mood weighed on gold's safe-haven appeal, while the greenback, according to the US Dollar Index (DXY), held firm at 99.44, up 0.04%. On Monday, the ISM Manufacturing Purchasing Managers' Index...
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....