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...
Brent crude oil prices advanced on Tuesday adding to gains in the previous session after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, but gains were capped on the prospects of supply rising soon. Brent crude futures gained 15 cents, or 0.2%, to $75.37 per barrel at 0454 GMT. U.S. West Texas Intermediate crude futures were up 67 cents from Friday's close at $71.41 a barrel. There was no settlement for WTI on Monday due to the U.S. Presidents' Day holiday. "The overriding theme driving oil prices lately has been around supply expectations. With...
Gold price (XAU/USD) trades with a mild positive bias above the $2,900 mark during the Asian session on Tuesday, though it lacks bullish conviction and remains confined in a familiar range that has held over the past week or so. Investors remain worried that US President Donald Trump's threat of reciprocal tariffs would trigger a global trade war. This turns out to be a key factor that continues to underpin demand for the safe-haven bullion. Adding to this, expectations that the Federal Reserve (Fed) might cut interest rates further this year, bolstered by the unforeseen drop in US Retail...
GBP/USD declines ahead of UK labor data set to be released on Tuesday.UK PM Starmer said that any peace agreement for Ukraine would need a "US backstop" to deter further Russian attacks.Fed Governor Michelle Bowman warned that upside inflation risks persist, stressing the need for more clarity before considering rate cuts.GBP/USD breaks its five-day winning streak, trading around 1.2600 during Tuesday's Asian session. Traders are awaiting UK employment data set to be released later in the day. The Claimant Count Change for January is expected to rise to 10K new unemployment benefit...
EUR/USD declines as the US Dollar strengthens following three consecutive sessions of losses.Fed Governor Michelle Bowman warned that upside inflation risks persist, stressing the need for more clarity before considering rate cuts.The Euro faces downward pressure from the ECB's forecast of three additional rate cuts this year.EUR/USD extends its losses for the second successive session, trading near 1.0460 during the Asian hours on Tuesday. This downside could be attributed to the improved US Dollar (USD) amid rising Treasury yields.The US Dollar Index (DXY), which tracks the US Dollar's...
The Japanese Yen retreats after touching a one-week high against its American counterpart. Rising bets for an imminent BoJ rate rise this year should limit any deeper losses for the JPY. The narrowing US-Japan yield differential might also lend support to the lower-yielding JPY. The Japanese Yen (JPY) attracts some sellers during the Asian session on Tuesday, which, along with a modest US Dollar (USD) uptick, assists the USD/JPY pair in staging a modest recovery from the 151.25 area or over a one-week low. Investors cheered a delay in the implementation of US President Donald Trump's...
The Australian Dollar (AUD) pauses its three-day winning streak against the US Dollar (USD) as traders await the Reserve Bank of Australia's (RBA) policy decision on Tuesday. The central bank is widely expected to lower its Official Cash Rate (OCR) by 25 basis points (bps) to 4.10%, marking the first rate cut in four years. However, policymakers may adopt a cautious stance, as trimmed mean inflation remains above the RBA's 2%-3% target range. Signs of easing inflation in Australia have increased expectations for a rate cut in February. December data indicated slowing price pressures, with...
Oil steadied after an advance as OPEC+ delegates said the group was considering delaying restoring output, and Ukrainian drones attacked a crude-pumping station in Russia. Brent crude traded above $75 a barrel after a modest gain on Monday, while West Texas Intermediate was near $71. The cartel and its allies are considering pushing back a series of monthly supply increases due to start in April, according to delegates. Meanwhile, the Ukrainian strike forced exports through the main pipeline from Kazakhstan to slow. Postponing the 120,000 barrel-a-day hike would...
Gold is steady in the early Asian trade. The precious metal's safe-haven status is even more appealing with a U.S. administration as unpredictable and disruptive as Trump, says Justin Smirk, Westpac Group's senior economist in a report. Traders remain concerned that Trump's reciprocal tariff plan will raise global trade tensions, ANZ Research analysts say noting his latest tariff threat includes levies on automobiles. Spot gold is flat at $2,899.41/oz. Source : Dow Jones Newswires
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....