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 edges lower during the Asian session on Wednesday and erodes a part of the previous day's strong move up to over a four-month peak, around the 1.2965 area. Spot prices currently trade around the 1.2935 region, though the downtick lacks bearish conviction as traders keenly await the release of the US consumer inflation figures before placing fresh directional bets. The US Consumer Price Index (CPI) report will play a key role in influencing market expectations about the Federal Reserve's (Fed) rate-cut path, which, in turn, will drive the US Dollar (USD) demand and provide...
Gold steadied above $2,910 per ounce on Wednesday, holding a 1% gain from the previous session, sustained by its safe-haven appeal and weaker US dollar. On Tuesday, President Donald Trump walked back his trade-war threat against Ontario, hours after vowing to double tariffs on Canadian steel and aluminum to 50%, while Ontario Premier Doug Ford temporarily suspended a planned 25% surcharge on US electricity exports. The ongoing global trade uncertainties, combined with heightened concerns over a US tariff-induced recession, continued to drive investors toward safety assets. However,...
Brent crude oil futures extended gains toward $70 per barrel on Wednesday, supported by a weaker US dollar and reduced global oversupply forecasts. The US joined other agencies in lowering projections, with the IEA cutting its 2025 surplus forecast and halving its next year's glut projection due to potential declines in Iranian and Venezuelan flows. The EIA's monthly report also projected a decline in global oil inventories in Q2 2025. However, prices remained relatively near multi-year lows, pressured by erratic US trade shifts that prolonged risk-asset declines, along with concerns that a...
Oil extended a gain as the US cut its forecast for an oversupply, following similar moves by other market watchers including the International Energy Agency. West Texas Intermediate rose toward $67 a barrel after a modest gain on Tuesday, with Brent crude closing below $70. The Energy Information Administration slashed its prediction for a global surplus for this year and halved its outlook for a glut in 2026, citing the prospect of diminished flows from Iran and Venezuela. Elsewhere, the industry-funded American Petroleum Institute reported that US...
Gold edges higher in early Asian session, supported by fears of a global economic slowdown that could be spurred by tariffs. President Trump on Tuesday threatened to double tariffs on Canadian metals, but later rescinded the threat after Ontario province backed off of a surcharge on U.S.-bound electricity. There are growing worries over a potential economic slowdown in the U.S., FlowCommunity's Ruben Ferreira says in an email. Markets are awaiting U.S. inflation data this week, where any softer-than-expected figures might prompt the Fed to adopt a more dovish tone and consider cutting...
GBP/USD extended its recent bullish rally on Tuesday, shrugging off ongoing trade war concerns that are weighing down American market centers. Cable rose a little over one-half of one percent, clipping into the 1.2950 level for the first time in 18 weeks.US data remains the focal point for GBP/USD traders. UK economic data remains extremely limited on the data docket this week, but key US data releases are lined up one after another throughout most of this week. The US JOLTS job openings data was a bit stronger than anticipated, offering some stability to shaken markets. Job postings rose to...
The euro hit a five-month high on Tuesday after Ukraine agreed to a 30-day ceasefire proposal, while the dollar rose to a one-week high before weakening against the Canadian dollar following U.S. President Donald Trump's additional tariffs on Canada. Trump doubled his planned tariff on all steel and aluminum imports from Canada to 50% after Ontario province imposed a 25% tariff on electricity sent to the U.S. Ukraine agreed to accept an immediate 30-day ceasefire in the conflict with Russia during talks with U.S. officials in Saudi Arabia. U.S. Secretary of State Marco Rubio said he would...
The AUD/USD pair rises to near 0.6300 as the US Dollar (USD) slides due to an uncertain United States (US) economic outlook. The pair benefits from a softer Greenback as investors focus on upcoming inflation data, which could influence Federal Reserve (Fed) policy expectations. However, persistent concerns over trade tensions and global growth continue to cap upside potential for AUD/USD. Australian Dollar strengthens as US Dollar declinesThe US Dollar Index (DXY) fell to new multi-month lows near 103.20, pressured by declining bond yields and speculation about a potential US economic...
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....