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...
Oil prices rose for a second day on Tuesday as fresh U.S. sanctions imposed on Middle Eastern producer Iran increased concerns supply might tighten and as global refining margins remained strong. Brent crude futures rose 38 cents, or 0.5%, to $75.16 a barrel by 0401 GMT. U.S. West Texas Intermediate crude futures gained 47 cents, or 0.7%, to $71.17 a barrel. Both contracts gained in Monday's session after a $2 drop last Friday. "In the short term, I continue to think crude oil is looking for a base. The fresh U.S. sanctions announced on Iran overnight will likely assist with this as will...
USD/CHF remains under pressure for the fourth consecutive session, hovering around 0.8970 during Asian trading hours on Tuesday. The pair's decline is driven by a weaker US Dollar (USD), weighed down by disappointing US economic data, including last week's Jobless Claims and the S&P Global Purchasing Managers' Index (PMI). Traders continued evaluating the interest rate outlook, with the Federal Reserve (Fed) expected to maintain its current stance for an extended period, amid ongoing uncertainty about President Trump's economic policies.USD/CHF remains under pressure for the fourth...
The Australian Dollar (AUD) recovers its daily losses as the US Dollar (USD) weakens amid declining US Treasury yields on Tuesday. Investors eagerly anticipate Australia's monthly inflation report on Wednesday, as it's expected to offer crucial insights into the future course of monetary policy after the Reserve Bank of Australia's (RBA) recent hawkish rate cut. The People's Bank of China (PBOC) injected CNY300 billion on Tuesday via the one-year Medium-term Lending Facility (MLF), maintaining the rate at 2%. Additionally, the PBOC injected CNY318.5 billion through seven-day reverse repos...
The Japanese Yen (JPY) reverses Asian session losses against its American counterpart, dragging the USD/JPY pair back below the 150.00 psychological mark in the last hour. Japan's Services Producer Price Index (PPI) released earlier this Tuesday underscores the view that rising wages are persuading firms to pass on higher labour costs through price hikes. This comes on top of Japan's strong consumer inflation figures and reaffirms bets that the Bank of Japan (BoJ) will hike interest rates further, which, in turn, continues to underpin the JPY. Meanwhile, BoJ Governor Kazuo Ueda's remarks...
Gold price (XAU/USD) ticks lower during the Asian session on Tuesday and erodes a part of the previous day's gains to a fresh all-time peak. The US Dollar (USD) builds on the overnight bounce from its lowest level since December 10 and turns out to be a key factor undermining demand for the commodity. Apart from this, slightly overbought conditions on the daily chart further prompt traders to lighten their bullish bets around the precious metal, though the fundamental backdrop warrants some caution before placing aggressive bearish bets. Meanwhile, investors remain worried about the...
The dollar rose on Tuesday after falling to its lowest in more than two months at the start of the week, buoyed by safe-haven flows after U.S. President Donald Trump said tariffs on Mexico and Canada would proceed as planned. The stronger dollar in turn left the euro off a one-month high at $1.0461, with future gains in the single currency likely to hinge on how soon a coalition government can be formed in Germany following the election victory of the country's conservatives. Trump on Monday said that tariffs on Canadian and Mexican imports are "on time and on schedule" despite efforts by...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.80 during the early Asian session on Tuesday. The WTI price extends the recovery amid concerns of near-term supply tightness. The United States (US) imposed a fresh round of sanctions, the Treasury and State Departments announced on Monday, targeting companies and individuals, including the head of Iran's national oil company. This might add to concerns of near-term supply tightness, weighing on the WTI price. On the other hand, traders will closely monitor the developments surrounding further tariff policies...
Gold consolidates in early Asian trade, but potential profit-taking may weigh after front-month gold futures settled at a fresh record high overnight. The recent uptrend in the precious metal coincided with negative signs over the future of economic activities and the labor market in the U.S., XS.com's Samer Hasn says in an email. These sources of uncertainty have added to those prevailing globally such as concerns over trade conflict between the U.S. and the rest of the world, the senior market analyst adds. Spot gold is little changed at $2,952.39/oz. Source: Marketwatch
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....