Oil prices fell on Friday (October 24th) as skepticism crept into the market regarding the Trump administration's commitment to sanctions against Russia's two largest oil companies related to the war in Ukraine. Brent crude futures closed 5 cents, or 0.1%, lower at $65.94 a barrel, while U.S. crude <CLc1> closed at $61.50 a barrel, down 29 cents, or 0.5%. Both crude benchmarks rallied early in the session, extending gains of more than 5% achieved on Thursday after the sanctions were announced, but then weakened in the final two hours of trading. Crude prices still closed up more than...
The US dollar held steady early in the Asian session after the PPI data fell 0.1% in August, reinforcing expectations that the Fed would cut interest rates next week. The Dollar Index edged up to 97.822, marking a third consecutive day of gains. The market now awaits the release of the US CPI later tonight (WIB) for confirmation of its next direction. Market participants consider a 25 bps cut at the September 16-17 meeting almost certain. The chance of a 50 bps cut is only around 8%. Analysts' comments suggest the "benign" PPI result is in line with market pricing, shifting focus to the CPI...
Gold held steady just below its record, around $3,645/oz, after an unexpected decline in US producer prices (PPI) fueled hopes of Fed policy easing. The market now awaits the release of US CPI data Thursday evening (WIB) for confirmation of the next direction. Current market expectations price a 25 bps price cut at the Fed's September 16-17 meeting as the main scenario, with a larger cut seen as less likely. Gold's sensitivity is high: cooler inflation data typically weakens the dollar/yields and supports bullion prices. Performance-wise, gold has gained ~38–39% through 2025, driven by...
GBP/USD tested the 1.3550 area again for the fourth consecutive day on Wednesday, but has so far been unable to break higher. The market is likely to remain cautious ahead of the release of US consumer inflation (CPI) data on Thursday, which could be the next driver for the dollar and pound. On the producer side, US PPI inflation cooled faster than expected in August. Core PPI fell to 2.8% YoY from 3.5% previously, boosting market expectations that the Fed will cut interest rates on September 17. The PPI reflects domestic price pressures because it excludes imported goods. However, price...
Global oil prices stabilized after three consecutive days of gains. The market weighed US President Donald Trump's latest comments on Russia and the possibility of punitive measures for the war in Ukraine. Trump's tweet questioning the Polish airspace violation incident triggered a brief price spike due to the closing of short positions. West Texas Intermediate (WTI) prices hovered around $64 per barrel on Thursday, after rising 1.7% in the previous session. Brent held above $67 per barrel, indicating continued positive sentiment despite market caution. Trump also told European Union...
Gold price surges on Wednesday, up by over 0.60%, folllowing US inflation data, which increased speculation that the Federal Reserve (Fed) will resume its easing cycle at the upcoming September meeting. At the time of writing, XAU/USD trades at $3,646, shy of the record high of $3,674. Bullion up 0.60% fueled by Fed cut bets, Middle East tensions and Russian drone incursion into Poland's airspace The Producer Price Index (PPI) in August revealed that the disinflation process resumed in August, as businesses seem to absorb some of the US President Donald Trump's tariffs, in exchange for...
The Swiss Franc (CHF) strengthens modestly against the US Dollar (USD) on Wednesday, with USD/CHF trimming intraday gains as the Greenback softens after softer-than-expected US Producer Price Index (PPI) figures further cemented market expectations that the Federal Reserve (Fed) will cut interest rates at its monetary policy meeting next week. At the time of writing, the USD/CHF pair is trading around 0.7973 during the American session, easing from an intraday high of 0.7991 as buyers failed to secure a decisive move above the psychological 0.8000 mark. The loss of upward momentum reflects...
Oil prices settled higher on Wednesday by more than $1 a barrel as investors worried about possible supply disruptions after Poland downed drones in its airspace and the U.S. pushed for new sanctions on buyers of Russian oil the day after an Israeli attack in Qatar, but a report showing swelling U.S. supplies capped gains. Brent crude futures settled up $1.10, or 1.7%, at $67.49 a barrel. U.S. West Texas Intermediate crude futures rose $1.04, or 1.7%, to settle at $63.67 a barrel. Geopolitical tensions mounted when Poland shot down drones over its airspace during a widespread Russian...
Gold surged near a record high of $3,650 an ounce on Wednesday (September 10) after an unexpected decline in US producer prices reinforced expectations that the Federal Reserve will continue cutting interest rates at its meeting next week. Both headline and core PPI fell 0.1% in August, against projections for a 0.3% increase, driven by a sharp decline in wholesale margins for machinery and vehicles. The data follows a weak labor market report earlier this month that has prompted markets to price in several Fed rate cuts this year. Investors now await Thursday's consumer price inflation...
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....