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 lacks any firm intraday direction on Friday and oscillates in a narrow trading band, around the 1.2960 area during the Asian session. Spot prices, however, remain close to the highest since early November – levels beyond the 1.3000 psychological mark touched on Thursday – and remain at the mercy of the US Dollar (USD) price dynamics. 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. Adding to this, the uncertainty surrounding US...
Gold traded around $3,030 per ounce on Friday, remaining near record highs, and headed for a third weekly gain, driven by dovish signals from the Federal Reserve and safe-haven demand. On Wednesday, the Fed acknowledged rising economic uncertainty and reaffirmed plans for two rate cuts this year, boosting non-yielding gold. Fed Chair Powell also downplayed President Trump's tariff impact on inflation as "transitory", however he reiterated no urgency to cut rates. Meanwhile, tensions continued to escalate in the Middle East, as Israel expanded its Gaza offensive, Hamas struck Tel Aviv, and...
The Japanese yen slipped to around 149 per dollar on Friday, snapping a two-day advance as investors reacted to the latest inflation figures. Japan's core inflation rate slowed to 3% in February from 3.2% in January but still exceeded forecasts of 2.9%. This marked the second consecutive month that inflation surpassed expectations, highlighting persistent price pressures and reinforcing the case for further interest rate hikes. Earlier this week, the Bank of Japan kept its policy rate steady at 0.5%, as widely anticipated. Policymakers maintained a cautious stance, opting to assess the...
The US dollar index held its recent advance to around 103.8 on Friday as investors continued to assess the Federal Reserve's monetary policy stance. On Wednesday, the Fed kept policy unchanged but signaled two interest rate cuts this year. The central bank also highlighted rising risks to growth, employment, and inflation in its latest economic projections. Meanwhile, Fed Chair Jerome Powell downplayed concerns over the inflationary impact of President Donald Trump's tariffs, calling them "transitory," but reiterated that the central bank is in no rush to cut rates further. Traders are...
Oil extended gains after the US sanctioned a Chinese refinery for the first time in a marked step-up of measures to curb oil flows from Iran. West Texas Intermediate rose toward $69 a barrel after advancing on Thursday, with Brent crude closing at $72. The US penalized a Chinese oil refinery — Shandong Shouguang Luqing Petrochemical Co. — and its chief executive officer for allegedly buying Iranian oil, the Trump administration's first intervention in the Asian nation's refining system. Crude is on track for its biggest one-week gain since mid-January, after US data...
Gold price retreats on Thursday as bulls take a breather following the Federal Reserve's (Fed) latest monetary policy decision and an escalation of hostilities in the Middle East. The XAU/USD trades at $3,042, down over 0.19% Market sentiment turned negative, while the Greenback stages a recovery as depicted by the US Dollar Index (DXY), which tracks a basket of six currencies against the buck. Gold traders failed to drive prices higher, even though the Fed held rates unchanged at the 4.25%–4.50% range for the second consecutive meeting. Officials added that they will slow down the pace of...
The USD/CHF pair attracts some sellers to near 0.8760 during the Asian trading hours on Thursday. The Greenback edges lower after the Federal Reserve (Fed) indicated interest rate cuts were likely later this year despite the high degree of uncertainty around US tariff policies. Later on Thursday, the Swiss National Bank (SNB) interest rate decision will be in the spotlight. On Wednesday, the Fed kept interest rates unchanged in a range of 4.25% to 4.5% at its March meeting, as widely expected. The US central bank signaled it will cut rates two more times this year, in line with its previous...
EUR/USD slides to near 1.0830 as the US Dollar (USD) strengthens in North American trading hours on Thursday. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, jumps to near 104.00. The major currency pair gains as the Federal Reserve (Fed) expressed no rush for monetary policy adjustments amid "unusually elevated" uncertainty on President Donald Trump's policies after leaving key borrowing rates unchanged in the range of 4.25%-4.50%, as expected, on Wednesday. "We are not going to be in any hurry to move on rate cuts," Fed Chair Jerome Powell said...
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....