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 prices fell on Thursday as investors took profits after bullion hit a record high earlier in the session as curbs on chip sales to China and ongoing tariff uncertainty boosted demand for safe-haven assets. Spot gold fell 0.1% to $3,339.37 an ounce by 0312 GMT, after hitting a record high of $3,357.40 earlier in the session. Bullion has gained more than 3% this week. U.S. gold futures rose 0.2% to $3,351.50. "Everything is going in gold's favor, pushing prices to new record highs. Although the decline is justified, the precious metal is poised for further gains as the trade turmoil...
GBP/USD ended its seven-day winning streak, weakening to around 1.3230 during the Asian session on Thursday (4/17) after falling from a six-month high of 1.3292 reached on Wednesday. Traders now await the release of key US data later in the day, including Building Permits, Housing Starts, Philly Fed Manufacturing Index, and weekly Initial Jobless Claims. The US Dollar Index (DXY) is trading higher near 99.60 at the time of writing, supported by stronger-than-expected consumer spending in March. US Retail Sales rose 1.4% in March, beating February's 0.2% increase and the 1.3% forecast. The...
The Japanese Yen (JPY) eased after hitting a fresh multi-month high against its US counterpart during the Asian session on Thursday (4/17), although a meaningful decline seems elusive. A slight improvement in the global risk sentiment – as depicted by a generally positive tone around equity markets – was seen undermining the safe-haven JPY. This, along with a modest uptick in the US Dollar (USD) from near multi-year lows contributed to the USD/JPY pair's intraday recovery of over 100 pips from the 141.60 region. However, uncertainty surrounding US President Donald Trump's tariff...
The Australian Dollar (AUD) traded lower against the US Dollar (USD), ending a six-day winning streak. The AUD/USD pair remained pressured after the release of Australian jobs data on Thursday (4/17), which showed the Unemployment Rate rose to 4.1% in March, slightly below market estimates of 4.2%. Meanwhile, the Employment Change came in at 32.2K, compared to consensus estimates of 40K. The AUD gained support from improved global risk sentiment after US President Donald Trump announced exemptions for key technology products from newly proposed "reciprocal" tariffs. The exemptions, which...
Silver (XAG/USD) traded around $32.30 per troy ounce during the Asian session on Thursday (4/17), paring some of its gains from the previous day. The precious metal came under pressure as global risk sentiment improved following US President Donald Trump's announcement of exemptions for key technology products from newly proposed "reciprocal" tariffs. The exemptions, which cover smartphones, computers, semiconductors, solar cells, and flat-panel displays, primarily benefit goods manufactured in China. However, Silver's downside remained limited as Trump simultaneously launched an...
The EUR/USD pair traded flat near 1.1400 during the early Asian session on Thursday (4/17). Markets remained cautious as traders wait to see if the US President Donald Trump administration reaches a new trade deal with its partners. The European Central Bank (ECB) interest rate decision will be the focus later on Thursday. Federal Reserve (Fed) Chairman Jerome Powell said on Wednesday that trade tensions risk undermining the Fed's employment and inflation goals. Powell added that US economic growth appears to be slowing, with consumer spending growing modestly, a rush of imports to avoid...
Gold rises in the early Asian session, buoyed by likely safe-haven demand after Fed Chair Powell warned overnight of economic risks. "The outlook for gold remains constructive, supported by a robust mix of macroeconomic and geopolitical factors that reinforce its intrinsic value as a store of value and diversification asset in uncertain times," Pepperstone's Quasar Elizundia says in an email. If current conditions continue, gold's medium- to long-term target is projected around $3,734/oz, the research strategist adds. Spot gold is 0.3% higher at $3,350.88/oz after earlier touching a record...
Oil rose for a second day after the U.S. pledged to reduce Iran's energy exports to zero. West Texas Intermediate traded near $63 a barrel after rising nearly 2% on Wednesday, putting futures on track for their first weekly gain this month. Brent crude settled below $66. Treasury Secretary Scott Bessent said the U.S. would apply maximum pressure to disrupt Iran's oil supply chain, as his department sanctioned a second Chinese refinery accused of handling crude from the Islamic Republic. The so-called teapot refinery sanctioned by the U.S. — Shandong Shengxing Chemical Co. Ltd. — is suspected...
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....