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 Japanese Yen gains some positive traction following an Asian session downtick. Bets for more interest rate hikes by the BoJ continue to act as a tailwind for the JPY.The divergent BoJ-Fed expectations contribute to capping the upside for USD/JPY.The Japanese Yen (JPY) attracts some buyers following an Asian session dip against its American counterpart and reverses a part of the previous day's slide amid hawkish BoJ expectations. Investors now seem convinced that the Bank of Japan (BoJ) will hike interest rates further amid signs of broadening inflationary pressures in Japan, which led to...
Australian Dollar appreciates despite fresh tariff threats from US President Donald Trump.Australia's Wage Price Index increased by 0.7% QoQ in Q4 2024, missing the expected 0.8% rise.The US Dollar loses ground as Treasury yields depreciate despite hawkish Fedspeak.The Australian Dollar (AUD) recovers its daily losses against the US Dollar (USD) on Wednesday. However, the AUD/USD pair faced challenges amid rising risk aversion following new tariff threats from US President Donald Trump.Australia's Wage Price Index increased by 0.7% quarter-over-quarter in Q4 2024, falling short of the...
The dollar index maintained its recent gains, holding around 107 on Wednesday, as President Donald Trump's escalating tariff threats fueled inflation concerns. On Tuesday, Trump announced plans to impose auto tariffs of around 25%, as well as similar duties on semiconductors and pharmaceutical imports. Geopolitical tensions also supported the dollar, particularly after the US excluded European nations from peace negotiations with Russia over the ongoing war in Ukraine. On the monetary policy front, Federal Reserve officials reaffirmed their cautious approach to further interest rate cuts,...
Gold edges lower in early Asian trade as traders weigh continued signs of strength in the U.S. economy against policy uncertainties that have fueled a surge in demand for the haven metal. "Trump's policies have proven to create an environment of strength," says Raddington Group CEO Yassin K. Fawaz. With inflation still above the Fed's target and the economy on solid footing, many now think interest rates will stay high for a while, dampening the appeal of non-interest-bearing assets like gold, he says. That said, Trump's approach to international relations and tough stance on trade is also...
The euro is set to end Tuesday's session (2/18) with a loss of more than 0.30% against the greenback as the S&P 500 hit a record high during the North American session. At the time of writing, EUR/USD is trading at 1.0445 below its opening price. Risk appetite has improved, but US President Donald Trump reiterated that he will impose a 25% tariff on imported cars. He added that he will announce major companies that will return to the United States, related to chips and cars. EUR/USD has recovered over the past few weeks amid progress in peace talks related to the Ukraine-Russia...
Oil prices rose on Tuesday as traders assessed the impact of a drone attack on Kazakhstan's main oil export route, while talks to end the war in Ukraine kept traders cautious as they could boost Russian supplies. Brent crude futures rose 61 cents to $75.83 a barrel by 1:38 p.m. EST, while U.S. West Texas Intermediate crude rose $1.10, or 1.6%, to $71.84 a barrel, tracking gains Brent posted on Monday, when the U.S. contract traded without settlement due to a holiday. Brent rose 48 cents in the previous session after Ukrainian drones attacked a pumping station in Russia on the Caspian...
Gold rose above $2,930 an ounce on Tuesday, marking a second session of gains and approaching a record high of $2,940 hit last week as uncertainty over U.S. tariffs continued to fuel demand for the safe-haven asset. Since taking office, Trump has imposed 10% tariffs on Chinese imports, announced but then delayed 25% tariffs on Mexican goods and non-energy imports from Canada, scheduled 25% tariffs on imported steel and aluminum, and is preparing reciprocal tariffs on any country that taxes U.S. imports. However, hawkish remarks from Federal Reserve officials capped further gains. Fed...
The U.S. dollar strengthened on Monday, as investors assessed key negotiations between U.S. and Russia on a deal to end the war in Ukraine and lingering tariff concerns, as well as an interest rate reduction by Australia's central bank. By 07:41 EST (12:41 GMT), the U.S. dollar index, which measures the greenback against a basket of major currencies, rose 0.4% to 106.99. The index declined more than 1% last week. The euro was 0.3% lower at $1.05, while sterling also eased 0.3% to $1.26. Officials from the U.S. and Russia are holding crucial talks in Saudi Arabia on a potential agreement...
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....