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 up on Friday, poised for a weekly gain on safe-haven inflows and a U.S. jobs report that showed weaker-than-expected job growth in February, suggesting the Federal Reserve will cut interest rates this year. Spot gold was up 0.3% at $2,918.11 an ounce by 9:24 a.m. (1424 GMT). Bullion has gained more than 2% so far this week, as U.S. President Donald Trump's ever-changing tariff policies fueled uncertainty. U.S. gold futures were steady at $2,925. The U.S. dollar index was on track for its worst weekly performance since Nov. 4, making dollar-priced bullion cheaper for...
Oil rose on Friday but remained on track for its biggest weekly decline since late last year as U.S. President Donald Trump's tariffs on major trading partners injected volatility and uncertainty into global markets. Brent crude futures rose near $70 a barrel on Friday, helped by a falling dollar and potential U.S. plans to replenish its strategic oil reserves, but are still down more than 3% this week. Trump signed an order Thursday to cut tariffs on Mexico and Canada covered by the trade pact through April 2, just days after the tariffs went into effect. (Newsmaker23) Source: Bloomberg
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, had its worst week in more than a year, down more than 3.5% since Monday and trading near 103.70 at the time of writing on Friday (07/3). The greenback is undergoing a regime change where the US Dollar is no longer favored by traders. The interest rate differential between the Federal Reserve (Fed) and other central banks is set to narrow after Fed Governor Christopher Waller said on Thursday that there could be two to three rate cuts this year. On the economic data front, all eyes...
Silver (XAG/USD) prices faced selling pressure near $32.70 during European trading hours on Friday (07/03). The white metal traded cautiously ahead of the United States (US) Nonfarm Payrolls (NFP) data for February, which will be published at 13:30 GMT. The US NFP data will significantly influence market expectations regarding the Federal Reserve's (Fed) monetary policy outlook. Upbeat labor market data will increase market speculation that the Fed will keep interest rates steady in the current range of 4.25%-4.50% for a longer period. Conversely, a weak figure will weaken it. Technically,...
Gold price (XAU/USD) builds on the steady intraday ascent through the first half of the European session and climbs back closer to the top end of its weekly range. The US Dollar (USD) selling bias remains unabated in the wake of rising bets that the Federal Reserve (Fed) will cut interest rates several times in 2025 amid worries about slowing US economic growth. This keeps the USD depressed near a multi-month low and turns out to be a key factor acting as a tailwind for the non-yielding yellow metal. Moreover, the uncertainty surrounding US President Donald Trump's trade policies and their...
Oil prices rose on Friday but fell for the biggest weekly drop since October as uncertainty over U.S. tariff policy raised concerns about demand growth at a time when major producers are preparing to increase output. Brent crude futures rose 50 cents, or 0.72%, to settle at $69.96 a barrel by 0746 GMT. U.S. West Texas Intermediate crude futures rose 47 cents, or 0.71%, to settle at $66.83 a barrel. But Brent fell 4.9% for the week, its biggest weekly drop since the week of Oct. 14. WTI is set to drop 4.8%, also its biggest weekly drop since that week. Markets, including oil, have been...
The US Dollar Index (DXY), which tracks the US Dollar (USD) against six major currencies, continues its losing streak for the fifth consecutive day, pressured by declining US Treasury yields. Market expectations of more aggressive Federal Reserve (Fed) rate cuts amid concerns over US economic growth are contributing to the weakness. The DXY is trading around 103.90 with 2- and 10-year yields on US Treasury bonds standing at 3.94% and 4.24%, respectively, during the early European hours on Friday. Traders are closely watching global trade developments, particularly Canada's decision to delay...
Gold price (XAU/USD) continues with its struggle to attract any meaningful buyers, though it manages to hold above the $2,900 mark through the Asian session on Friday. Traders now seem reluctant and opt to wait for the release of the closely-watched US monthly employment details before placing fresh directional bets, leading to subdued range-bound price action for the second straight day. The popularly known Nonfarm Payrolls (NFP) report will influence the near-term US Dollar (USD) price dynamics and provide a fresh impetus to the commodity. In the meantime, the growing acceptance that...
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....