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...
Oil prices settled higher on Friday and recorded a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer group raised expectations of tighter supply. Brent crude futures rose 16 cents, or 0.2%, to settle at $72.16 a barrel. U.S. West Texas Intermediate crude futures rose 21 cents, or 0.3%, to $68.28. On a weekly basis, Brent rose 2.1% and WTI about 1.6%, their biggest gains since the first week of the year. On Thursday, the U.S. Treasury announced new Iran-related sanctions, which for the first time targeted an independent...
The USD/CHF pair flattens around 0.8820 during North American trading hours on Friday. The Swiss Franc pair trades sideways even though the US Dollar (USD) exhibits strength amid expectations that the Federal Reserve (Fed) will not cut its key borrowing rates in the near term. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rises to near 104.00.Fed officials have stated that they are not in a hurry to move to interest rate cuts as they struggle to interpret the outcome of United States (US) President Donald Trump's economic policies. In Friday's...
The AUD/USD pair struggles to capitalize on the overnight bounce from the 0.6270 area or a one-week low and meets with a fresh supply on Friday. Spot prices remain depressed below the 0.6300 mark through the first of the European session and could slide further amid a goodish pickup in the US Dollar (USD) demand. The Federal Reserve (Fed) maintained its forecast for two 25 basis points rate cuts in 2025 at the end of March policy meeting on Wednesday and gave a bump higher to its inflation projection. The outlook assists the Greenback to build on its modest recovery from a multi-month low...
EUR/USD trades lower to near the 10-day low of 1.0815 in Friday's North American session. The major currency pair faces selling pressure as the US Dollar (USD) strengthens after the Federal Reserve (Fed) expressed in the policy meeting on Wednesday that interest rate cuts are not on the table in the current scenario. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, rises to near 104.15. On Wednesday, the Fed kept interest rates steady in the range of 4.25%-4.50% for the second time in a row, as expected. Fed Chair Jerome Powell said in the press...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is able to print a third consecutive day of gains, trading around 104.00 at the time of writing on Friday. The DXY tries to move away from the 2025 low at 103.20 reached on Tuesday, after the Financial Times reported European countries are drawing up plans to take on responsibilities for the continent's defence from the United States (US), including a pitch to the Trump administration for a managed transfer over the next five to 10 years, which would reshape the North Atlantic Treaty...
The Pound Sterling (GBP) is dropping some 0.29% against the US Dollar (USD) on Friday, set to end the week unchanged after major central banks featured monetary policy decisions led by the Federal Reserve (Fed) and the Bank of England (BoE). At the time of writing, GBP/USD is trading at 1.2931 after hitting a daily peak of 1.2969. Sterling drops 0.29%, set to end the week flat after dovish Fed and BoE toneThe market mood remains downbeat, as depicted by United States (US) equities posting losses, while the Greenback remains bid. On Thursday, the BoE kept rates unchanged and said there is...
The USD/JPY pair gives up entire intraday gains after facing selling pressure around 149.60 and drops to near 148.60 during North American trading hours on Friday. The asset drops as the US Dollar (USD) gains, with the US Dollar Index (DXY) rising to near 104.00. The Greenback attracts bids as the Federal Reserve (Fed) is unlikely to cut interest rates in the near term. On Wednesday, Fed Chair Jerome Powell stated that they are not in a hurry to cut interest rates amid "unusually elevated" uncertainty over the United States (US) economic outlook under the leadership of President Donald...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, extended its recovery and was trading around 104.00 at the time of writing on Friday (3/21). The DXY is trying to move away from a 2025 low of 103.20 hit on Tuesday, after the Financial Times reported that European countries are drawing up plans to take over responsibility for the continent's defense from the United States (US), including an offer to the Trump administration for a managed transfer over the next five to 10 years, which would reshape the North Atlantic...
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....