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 edged higher in Asian trade on Tuesday, staying below recent record highs as concerns eased over the severity of U.S. President Donald Trump's planned trade tariffs. However, demand for the safe-haven asset remained relatively high amid uncertainty over what tariffs will be imposed by Trump's April 2 deadline. Investors are also cautious ahead of a series of key economic readings this week. Gold and other precious metals pulled back from recent peaks this week, as risk appetite improved on reports that Trump's tariffs would not be as severe as feared. However, a weaker dollar...
The dollar hit a three-week high against the yen on Tuesday and strengthened across the board after some strong U.S. services data and cautious optimism on the tariff front. President Donald Trump said not all of the levies he threatened would be imposed on April 2 and that some countries might get relief, helping the dollar and the mood on Wall Street overnight by easing some concerns about a possible slowdown in U.S. growth. The dollar was last up at 150.56, after rising above 150 yen overnight ?t;JPY=EBS⪐. It rose to a three-week high of 150.92 yen in early Asian trading. The lack of...
The USD/CHF pair weakened to around 0.8830 during the Asian trading hours on Tuesday (3/25), pressured by a decline in the US Dollar (USD). Traders will keep an eye on the US Conference Board's Consumer Confidence gauge, New Home Sales, and the Richmond Fed Manufacturing Index, due on Tuesday. Data released by S&P Global on Monday showed that the US Composite PMI rose to 53.5 (preliminary) in March from 51.6 in February. Meanwhile, the Manufacturing PMI fell to 49.8 in March compared to 52.7 previously, missing the estimate of 51.9. The Services PMI improved to 54.3 in March from 51.0...
Oil prices were little changed on Tuesday as markets weighed the impact of newly announced U.S. tariffs on countries that buy Venezuelan oil and an uncertain outlook for global demand. Brent crude futures were up 1 cent at $73.01 a barrel by 0424 GMT. U.S. West Texas Intermediate crude futures were down 1 cent at $69.10. Both benchmarks rose more than 1% on Monday after U.S. President Donald Trump announced 25% tariffs on countries that import Venezuelan oil and gas. Oil is Venezuela's main export and China, already subject to U.S. tariffs, is its biggest buyer. "Investors are concerned...
GBP/USD held steady around 1.2920 during the Asian session on Tuesday (3/25) after a surge in the previous session. However, the pair held steady amid a US Dollar (USD) correction. The greenback strengthened, supported by strong S&P Services PMI data and cautious remarks from Federal Reserve officials. The S&P Global Services PMI jumped to 54.3 in March, the highest in three months, up from 51.0 in February and surpassing market expectations of 50.8. The services sector rebounded sharply from a 15-month low, while the Composite PMI rose to 53.5, marking its strongest expansion since...
Gold (XAU/USD) prices struggled to gain any meaningful traction during the Asian session on Tuesday (March 25), albeit held above the psychological $3,000 mark amid mixed fundamental cues. The US Dollar (USD) held on to its recent recovery from multi-month lows and hovered near three-week highs touched on Monday. Moreover, the upbeat market mood, supported by hopes for less disruptive US trade tariffs, a Russia-Ukraine peace deal, and optimism over Chinese stimulus, acted as a headwind for the safe-haven precious metal. Meanwhile, growing acceptance that the Federal Reserve (Fed) will soon...
Silver (XAG/USD) prices snapped a four-day losing streak, trading around $33.10 per troy ounce during Asian market hours on Tuesday (3/25). The recovery was driven by increased demand for safe-haven assets amid rising geopolitical tensions. The United Nations (UN) announced on Monday that it would reduce its international staff in Gaza by about a third after Israeli airstrikes killed hundreds of civilians, including UN personnel. After a two-month ceasefire brought relative calm to the 18-month war, Israel resumed a full-scale air and ground campaign against Hamas on Tuesday. Palestinian...
The Japanese Yen (JPY) weakened against its US counterpart for the fourth straight day, pushing the USD/JPY pair to the 151.00 range, or a three-week high during the Asian session on Tuesday (3/25). Global risk sentiment remained supported by hopes that US President Donald Trump's so-called tit-for-tat tariffs would be narrower and less stringent than previously feared. Additionally, optimism over a possible Russia-Ukraine peace deal and reports that China is considering including services in a subsidy program to stimulate consumption further boosted investor confidence, weakening the...
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....