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 GBP/USD pair continued its uptrend that began on April 8, trading around 1.3250 during the Asian session on Wednesday (4/16). Earlier in the day, the pair touched a fresh six-month high of 1.3256. The pair has maintained its strong momentum, boosted by improving global risk sentiment after US President Donald Trump announced exemptions for major technology products from his new "reciprocal" tariffs. In the UK, labor market data showed on Tuesday that the unemployment rate held steady at 4.4% in February, in line with expectations. However, wage growth remained strong, maintaining...
The Japanese Yen (JPY) regained some ground after a modest decline the previous day as trade-related uncertainties kept investors on the sidelines and continued to favor traditional safe-haven assets. Additionally, data released today showed that Japan's core machine orders rose sharply in February, beating market expectations. This, coupled with hopes that Japan will reach a trade deal with the US and growing acceptance that the Bank of Japan (BOJ) will continue to raise interest rates in 2025, turned out to be another factor supporting the JPY. Meanwhile, the hawkish BOJ expectations...
Oil steadied after a modest decline on Tuesday as expectations of a supply glut and a trade war between the world's two largest economies weighed on the demand outlook. West Texas Intermediate crude futures were trading above $61 a barrel, with Brent crude closing near $65 in the previous session. The International Energy Agency on Tuesday cut its forecast for global oil consumption this year and next as trade tensions escalated. The supply build is likely to be more than enough to meet consumption, it said in a monthly report. Crude prices remain near four-year lows, after a sharp drop...
Gold prices ended Tuesday's session on a higher note as traders bought the precious metal amid uncertainty over US President Donald Trump's tariff plans, which have kept market participants on edge. XAU/USD was trading at $3,240 per troy ounce, up more than 6.50%. The precious metal rose sharply towards the end of the New York session on Tuesday as US Treasury yields continued to fall for a second straight day. Concerns that US President Trump will start imposing tariffs on pharmaceuticals soured the market mood. Keeping the trade war in the air, China ordered its domestic airlines to halt...
The Australian Dollar (AUD/USD) gave up its earlier strength on Tuesday, falling from session highs near 0.6340 to trade closer to the 0.6280 area during North American hours. The reversal came as the US Dollar Index (DXY) attempted a modest bounce off its three-year low near the 99.00 mark. This shift in tone followed remarks from US officials suggesting reduced recession risks and progress on trade negotiations with Europe, though concerns remain over the unresolved US-China tariff fight.USD sentiment fluctuates on mixed economic signalsKevin Hassett from the US National Economic Council...
Oil prices were little changed on Tuesday as investors digested the latest headlines on U.S. President Donald Trump's on-again, off-again tariffs and tried to figure how much the U.S.-China trade war could reduce global economic growth and oil demand. Brent crude futures fell 21 cents, or 0.3%, to settle at $64.67 per barrel, while U.S. West Texas Intermediate (WTI) crude fell 20 cents, or 0.3%, to settle at $61.33. Vacillating U.S. trade policies have created uncertainty for global oil markets and prompted the Organization of the Petroleum Exporting Countries to lower its demand outlook...
Sterling rallies despite unchanged UK unemployment at 4.4% as strong wage growth complicates BoE's easing path.The US Dollar Index drops over 5% in three weeks as safe-haven demand fades and tariff risks grow.UK inflation data and Powell's speech are in focus; the UK remains exempt from US tariffs for now.The Pound Sterling (GBP) rose and refreshed six-month highs against the US Dollar (USD) on Tuesday as the financial markets' narrative remains linked to the US imposing tariffs. Cable shrugged off soft United Kingdom (UK) jobs data; hence, GBP/USD rallied 0.36% and is trading at...
The US Dollar (USD) gains temporary ground after stabilizing near its recent lows, with the US Dollar Index (DXY) rebounding from its three-year low of 99.00 to 100.00 during North American trading hours on Tuesday.However, the recovery move could be short-lived as financial market participants remain concerned over United States (US) President Donald Trump's erratic tariff announcements, which have led them to doubt the structural attractiveness of the US Dollar. Analysts at Commerzbank said, "With every U-turn in Trump's 'dealmaking', the US president destroys further planning security...
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....