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...
GBP/USD extends its winning streak for the third consecutive day, trading around 1.2460 during Thursday's Asian session. Traders await the UK's preliminary Gross Domestic Product (GDP) data due later in the day. Economists expect a contraction in Q4 GDP, though the economy is projected to expand on an annual basis. The outlook for the British economy remains uncertain, with Bank of England (BoE) Monetary Policy Committee (MPC) member Catherine Mann expressing concerns over weakening demand in the United Kingdom (UK) and the need for accommodative financial conditions. Earlier this week,...
The Australian Dollar (AUD) continues to decline against the US Dollar (USD) on Thursday, struggling despite a rise in Australia's Consumer Inflation Expectations, which increased to 4.6% in February from 4.0% previously. The AUD/USD pair remains under pressure due to US President Donald Trump's 25% tariff hike and Federal Reserve Chair Jerome Powell's signal that the central bank is in no rush to cut interest rates further. Adding to the strain, Trump's trade adviser, Peter Navarro, criticized Australia on Tuesday, accusing it of "killing the aluminum market" just a day after Trump signed...
The Japanese Yen (JPY) attracts some buyers following the release of stronger-than-expected Japan's Producer Price Index (PPI) on Thursday, which reaffirms bets that the Bank of Japan (BoJ) will hike rates further. The market reaction, however, turns out to be short-lived amid concerns about the implications of US President Donald Trump's tariffs on steel and aluminum imports, and impending reciprocal tariffs. This assists the USD/JPY pair to hold above the 154.00 mark during the Asian session and remain close to over a one-week high touched the previous day. Meanwhile, Federal Reserve...
Silver price (XAG/USD) edges higher to $32.25 during the Asian trading hours on Thursday. Trade war concerns drive the safe-haven demand, supporting the white metal. Traders await the US weekly Initial Jobless Claims and Producer Price Index (PPI), which are due later on Thursday. US President Donald Trump on Monday imposed a 25% tariff on all steel and aluminum imports into the United States (US) with no exceptions or exemptions. The White House said late Wednesday that Trump could announce his reciprocal tariff plan on Thursday. Trump recently said he planned to slap reciprocal tariffs...
A gauge of the dollar held steady as investors await clarity around possible reciprocal tariffs. The euro climbed on hopes of a solution to the war in Ukraine. Bloomberg Dollar Spot Index was little changed since closing up 0.1% after data showing US inflation accelerated more than expected, prompting traders to shift bets for the next Fed rate cut to December from September. EUR/USD rose 0.2% to 1.0400 with spot holding a sentiment bid from news that President Donald Trump agreed in a phone call with Russian President Vladimir Putin to...
Oil fell the most in more than two months on speculation that risks to Russian supplies could ease after President Donald Trump said he and Vladimir Putin had agreed to hold talks to end the Ukraine war. West Texas Intermediate crude futures were trading near $71 a barrel after dropping 2.7% in the previous session, the biggest drop since late November. Brent settled near $75 on Wednesday. Trump said their teams would begin negotiations soon, and that he might meet Putin in Saudi Arabia. U.S. sanctions on Moscow's oil sector have disrupted Russian crude flows, which helped support a surge...
Gold edges lower in the early Asian session, weighed by higher U.S. Treasury yields that undermine the appeal of the non-interest-bearing precious metal. The U.S. inflation report released overnight was hotter than expected, spurring a surge in the 10-year Treasury yield, says IG's Axel Rudolph in an email. Also, Fed rate-cut expectations are being pared back to July, the senior technical analyst adds. Spot gold is 0.1% lower at $2,901.61/oz. Source : Dow Jones Newswires
Gold price recovered some ground late during Wednesday's North American session. Federal Reserve (Fed) Chair Jerome Powell said that policy needs to remain restrictive as inflationary pressures mount and United States (US) President Donald Trump's tariff threats intensify. XAU/USD trades at $2,897, virtually unchanged. The non-yielding metal halted its downtrend after the US Bureau of Labor Statistics (BLS) revealed that inflation jumped above 3% in the United States, suggesting that the Fed's pause on its easing cycle could be longer thanLast week, the December fed funds rate futures...
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....