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...
EUR/USD corrected near 1.0860 during European trading hours on Thursday (3/13). The major currency pair fell as the Euro (EUR) faced slight pressure on a new escalation in a potential tariff war between the European Union (EU) and the United States (US). On Wednesday, US President Donald Trump said that he would respond to the EU's proposed retaliatory tariffs on 26 billion Euros worth of US goods. Trump's comments came just before a meeting with Irish Prime Minister Micheál Martin, after which he said that "there is a big deficit that we have with Ireland and with other countries" and...
The USD/CHF pair weakened near 0.8810 during the early European session on Thursday (3/13). Concerns that US President Donald Trump's protectionism will push the US economy into recession dragged the US Dollar (USD) lower against the Swiss Franc (CHF). Investors will take more cues from the US Producer Price Index (PPI) for February and the weekly Initial Jobless Claims, due on Thursday. US inflation, as measured by the Consumer Price Index (CPI), eased to 2.8% YoY in February from 3.0% in January, lower than the estimate of 2.9%, the Labor Statistics reported on Wednesday. Meanwhile, core...
Gold prices edged higher on Thursday as uncertainty over tariffs persisted, boosting demand for the safe-haven asset, while cooler-than-expected U.S. inflation also supported bullion by reinforcing expectations of a rate cut. Spot gold was up 0.2% at $2,936.31 an ounce, by 0715 GMT, while U.S. gold futures were steady at $2,946.00. "The CPI data is encouraging but I suspect that the tariff hikes are not yet reflected in the inflation data." Data showed that the U.S. consumer price index rose less than expected last month, but the increase was likely temporary against a backdrop of...
Oil prices fell slightly on Thursday after surging in the previous session on a bigger-than-expected draw in U.S. gasoline stocks, as the market weighed prevailing macroeconomic concerns against expectations of strong near-term demand. Brent crude futures were down 3 cents at $70.92 a barrel by 0704 GMT, while U.S. West Texas Intermediate crude futures were down 8 cents at $67.60 a barrel. Both benchmarks rose about 2% on Wednesday as U.S. government data showed tighter-than-expected oil and fuel inventories. U.S. gasoline stocks fell by 5.7 million barrels, more than the 1.9...
The Japanese Yen (JPY) remains on the front foot against its American counterpart and keeps the USD/JPY pair depressed below the 148.00 round figure through the early European session on Thursday. Worries about the potential economic fallout from US President Donald Trump's trade tariffs, along with bets that the Bank of Japan (BoJ) will continue raising interest rates amid a broadening inflation in Japan, underpin the safe-haven JPY. Meanwhile, hawkish BoJ expectations keep the Japanese government bond yields elevated near a multi-year top. The resultant widening of the rate differential...
Oil steadied after the biggest gain in two weeks that was driven by easing US inflation and bullish demand data. Brent crude traded near $71 a barrel after jumping 2% on Wednesday, with West Texas Intermediate below $68. US consumer prices rose at the slowest pace in four months in February, official data showed, although economists anticipate that an escalating trade war will drive up prices on goods like food and clothing in the coming months. "Crude oil prices have been a beneficiary of the risk-on sentiment across markets," said Charu Chanana, chief investment...
Gold prices rose in Asian trading on Thursday as soft inflation print in the U.S. supported interest rate cut bets, while President Donald Trump's fresh tariff threats kept bullion's safe-haven appeal intact. Spot Gold rose 0.4% to $2,945.18 per ounce, while Gold Futures expiring in April gained 0.2% to $2,953.62 an ounce by 00:56 ET (04:56 GMT). Gold rises as cooling inflation data backs rate-cut bets The U.S. Consumer Price Index (CPI) increased by 0.2% in February, leading to an annual rise of 2.8%, slightly below the anticipated 2.9% and down from January's 3.0% gain. This moderation...
Oil prices slipped on Thursday after a surge in the previous session on a larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns against firm near-term demand. Brent futures fell 5 cents to $70.9 a barrel by 0426 GMT, while U.S. West Texas Intermediate crude futures shed 10 cents to $67.58 a barrel. Both benchmarks rallied about 2% on Wednesday as U.S. government data showed tighter-than-expected oil and fuel inventories. U.S. gasoline inventories fell by 5.7 million barrels, more than the 1.9 million-barrel draw expected by analysts, while distillate...
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....