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 Australian Dollar (AUD) strengthened during the American session on Wednesday (09/4), climbing to the mid-0.6100s as the US Dollar (USD) continued to weaken amid a risk-on rally in global markets. The currency pair rallied sharply after US President Donald Trump abruptly suspended most tariffs for 90 days, sparking a surge in equities and helping risk-sensitive currencies. The minutes of the Federal Reserve's (Fed) March meeting, released during the session, revealed that policymakers were grappling with a "difficult compromise" due to persistent inflation pressures and a weakening...
Oil prices rose more than 4% on Wednesday, rebounding from four-year lows hit earlier in the session, after U.S. President Donald Trump said he would continue to raise tariffs on China but halt the ones he announced last week for most other countries. Trump authorized a 90-day halt and raised tariffs on China to 125%, effective immediately. The previously announced 104% tariffs on China went into effect on Wednesday. Brent crude futures settled up $2.66, or 4.23%, at $65.48 a barrel. U.S. West Texas Intermediate crude futures settled up $2.77, or 4.65%, at $62.35. Both contracts had...
Gold prices jumped more than 3% to above $3,065 an ounce on Wednesday, as escalating U.S.-China trade tensions fueled demand for the safe-haven asset. Trump announced on Truth Social a 90-day pause and a 10% reciprocal tariff reduction for all countries except China. In the same post, he said tariffs on Chinese imports would rise to 125%. Treasury Secretary Scott Bessent later clarified that the 10% tariffs apply during negotiations but exclude China and sector-specific tariffs. The move followed Beijing's announcement of new tariffs on U.S. goods to 84%, up from 34%, and the European...
Oil prices plunged to a four-year low and traded below $60 a barrel on Wednesday, while some commodities, including coffee, plunged as the trade war between China and the United States escalated, with Beijing announcing higher tariffs on U.S. imports. Asian and European equities fell and U.S. markets opened slightly lower as the imposition of steep U.S. tariffs, including a 104 percent duty on some Chinese goods, deepened fears of a global recession. In retaliation, China said it would impose tariffs of 84 percent on U.S. goods starting Thursday, up from the previously announced 34...
Gold rallied as much as 3% global markets gyrated and the dollar weakened after US President Donald Trump imposed sweeping new import tariffs and China hit back with levies of its own. A vicious selloff of US government bonds — typically a safe haven in times of turmoil — underscored a jittery day for investors as Trump's historic trade measures came into effect. Bullion extended recent declines before swinging sharply higher. "Gold's rebound reflects growing investor anxiety over tariff threats and the potential reshaping of global trade norms," said Christopher Wong, a foreign...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, extends the previous day's correction and hovers around 102.30 at the time of writing on Wednesday after testing the 102.00 level in the early Asian session. The tariffs that United States (US) President Donald Trump introduced on Liberation Day are going to take effect this Wednesday. Meanwhile, China and Canada have already vowed to retaliate against these tariffs with countermeasures, increasing fears of a global economic slowdown. On the economic calendar front, some light data...
Silver price (XAG/USD) surges almost 2% to near $30.40 during European trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) tumbles amid fears that the escalating trade war between Washington and Beijing could lead the United States (US) economy into a recession. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, plummets to near 102.00. Financial market participants are concerned that the imposition of 104% duty on imports from China by President Donald Trump for pouring drugs into the US and its retaliation against...
Oil prices fell for a fifth day to their lowest since February 2021 on Wednesday on looming demand concerns fuelled by an escalating tariff war between the U.S. and China, the world's two biggest economies, and a rising supply outlook. Brent futures dropped $1.39, or 2.21%, to $61.43 a barrel as of 0655 GMT. U.S. West Texas Intermediate crude futures fell $1.50, or 2.52%, to $58.08. Both contracts lost as much as 4% before paring some losses. Both Brent and WTI have tumbled over the five sessions since U.S. President Donald Trump announced sweeping tariffs on most imports sparking concerns...
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....