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's price (XAU/USD) is rallying after traders bought Wednesday's dip and are driving prices back up to $2,920 at the time of writing on Thursday, while Bullion traders shrugging off the United States (US) Consumer Price Index (CPI) data for January released on Wednesday. Traders are also ignoring the possibility of a peace deal formation with United States (US) President Donald Trump and Russian President Vladimir Putin, who have spoken on the phone to outline a meeting soon to work out the broad strokes of a peace deal. Despite these quite substantial tail risks, Gold is rallying again,...
The dollar dropped versus most major peers as geopolitical developments increased appetite for riskier assets. The Bloomberg Dollar Spot Index halves a 0.3% drop which came at the back of hopes for a solution to the war in Ukraine; investors also awaiting clarity around possible reciprocal tariffs. The euro led Group-of-10 gains earlier as it rose by as much as 0.6% to $1.0440, one-week high; while it pares gains, it's still headed for a third daily advance, longest winning streak this year. USD/CHF down 0.7% to 0.9071, lowest since Feb. 7; Switzerland's inflation rate...
Oil fell for a second day after President Trump and his Russian counterpart Vladimir Putin agreed to talks on ending the war in Ukraine, prompting speculation that impediments to Moscow's supplies may ease. Global benchmark Brent dropped below $75 a barrel after falling 2.4% on Wednesday, the most in more than two months. Trump said negotiations would start immediately, and that he would probably meet with Putin in Saudi Arabia in the "not-too-distant future." Elsewhere, the International Energy Agency again cut its projections for a global oil surplus this year, citing...
Gold price (XAU/USD) sticks to modest intraday gains through the first half of the European session on Thursday, though it lacks follow-through and remains below the record high touched earlier this week. Investors remain worried that US President Donald Trump's trade tariffs might trigger a global trade war, which continues to act as a tailwind for the safe-haven bullion. Apart from this, a fresh leg down in the US Treasury bond yields drags the US Dollar (USD) to the weekly low and turns out to be another factor that benefits the commodity. Moreover, expectations that Trump's...
The EUR/USD pair continues its upward momentum for the third straight session, hovering around 1.0430 during Asian trading hours on Thursday. Investors await Germany's Final Harmonized Index of Consumer Prices (HICP) data, set for release later in the day. The headline German HICP inflation is expected to remain steady at 2.8% year-over-year in January.However, concerns over a potential global trade war are weighing on the risk-sensitive EUR/USD pair. The White House indicated late Wednesday that US President Donald Trump could announce his reciprocal tariff plan before meeting Indian Prime...
The USD/CHF pair weakens to near 0.9110, snapping the fifth-day winning streak during the early European session on Thursday. The concerns about US President Donald Trump's trade tariff and weakening of the US Dollar (USD) drag the pair lower. Investors brace for the US weekly Initial Jobless Claims and Producer Price Index (PPI), which are due later on Thursday. Fed Chair Jerome Powell on Wednesday emphasized that the central bank is in no rush to cut interest rates during a second congressional hearing this week but said that there has been "great progress" on inflation. The USD weakens...
Gold price (XAU/USD) builds on the previous day's bounce from the $2,864 region touched in reaction to hotter US consumer inflation figures and gains positive traction for the second straight day on Thursday. The momentum lifts the precious metal to the $2,920 area during the Asian session and is sponsored by a combination of factors. Investors remain worried that US President Donald Trump's new levies on commodity imports and reciprocal tariffs would spark a global trade war, which continues to underpin the safe-haven Gold price. Apart from this, the emergence of fresh US Dollar (USD)...
Oil prices continued to fall after U.S. President Donald Trump and his counterpart Vladimir Putin agreed to talks to end the war in Ukraine, raising speculation that risks to Russian supplies could be easing. Brent fell below $75 a barrel after dropping 2.4% on Wednesday, its biggest drop in more than two months, while West Texas Intermediate neared $71. Trump said negotiations would begin soon, and that he might meet Putin in Saudi Arabia "very soon," according to a social media post. "I'm much more skeptical that negotiations will happen sooner rather than later," said Wayne Gordon,...
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....