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 (JPY) drifts lower for the third straight day on Wednesday and slides to a one-week low against its American counterpart during the Asian session. Worries that US President Donald Trump's no-exemption tariffs on commodity imports could endanger Japan's economic stability, along with a generally positive tone around the equity markets, undermine the safe-haven JPY. Apart from this, the emergence of some US Dollar (USD) buying lifts the USD/JPY pair back closer to mid-153.00s in the last hour. Federal Reserve (Fed) Chairman Jerome Powell said on Tuesday that the US central...
The Australian Dollar (AUD) maintains its position against the US Dollar (USD) on Wednesday. However, the AUD/USD pair faced challenges due to US President Donald Trump's 25% tariff hike and Fed Chair Jerome Powell's indication that the central bank was in no hurry to cut interest rates further. President Trump's trade adviser, Peter Navarro, criticized Australia late Tuesday, accusing the country of "killing the aluminum market" just a day after Trump signed executive orders imposing import tariffs on certain metals. Australia is seeking exemptions from the new steel and aluminum tariffs,...
Gold edges lower in early Asian trade amid mixed signals. Higher Treasury yields and a stronger U.S. dollar offset safe-haven demand on concerns of trade wars, says Fawad Razaqzada, market analyst at City Index and FOREX.com, in an email. Meanwhile, gold has reached extreme levels with the relative strength index showing overbought signals across multiple timeframes, based on charts, the analyst says. These RSI levels suggest that a pullback or consolidation may be on the horizon, the analyst adds. Spot gold is little changed at $2,895.58/oz. Source : Dow Jones Newswires
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.95 during the early Asian session on Wednesday. The WTI price edges higher to a two-week high amid the escalating geopolitical tensions in the Middle East. The latest US sanctions imposed on the Russian oil industry in January raised concerns about Russian and Iranian oil supplies, boosting the black gold price. "With the U.S. bearing down on Iranian exports and sanctions still biting into Russian flows, Asian crude grades remain firm and underpin the rally from yesterday," PVM oil analyst John Evans...
GBP/USD recovered on Tuesday (11/2) , ending a three-day losing streak and recovering to touch the 1.2450 level, up about two-thirds of a percent on the day. Global forex markets sold off the US dollar a bit as risk appetite recovered across the board, supported by a calm performance from Federal Reserve (Fed) Chairman Jerome Powell and expectations that US President Donald Trump's latest tariff threats will be averted by last-minute concessions, as has been the pattern since Donald Trump took over the White House. UK data remained thin throughout the mid-week session, but cable traders...
The US Dollar Index (DXY), which measures the value of the US dollar against a basket of currencies, remained down for a second day after hearing remarks from the US central bank chief. Federal Reserve (Fed) Chairman Jerome Powell's testimony to Congress emphasized a data-driven approach, suggesting that interest rates will remain steady unless inflation or labor conditions change. This notion reduces the likelihood of a rate cut at the March meeting. The US Dollar Index struggled to maintain momentum, slipping below its 20-day Simple Moving Average (SMA) around 108.50. The Relative...
Oil prices edged up to their highest in two weeks on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies and tensions in the Middle East escalated, outweighing concerns that trade tariffs would raise inflation and hurt global economic growth. Brent crude futures rose $1.13, or 1.5%, to settle at $77.00 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $1.00, or 1.4%, to settle at $73.32. That sent both crude benchmarks up for a third day and to their highest close since Jan. 28. "With U.S. pressure on Iranian exports and sanctions still squeezing...
Gold prices fell below $2,900 an ounce on Tuesday (2/11) from a record $2,940 as investors took profits, although sentiment remained bullish amid trade tensions. The decline was driven by short-term traders cashing in profits, with some expecting consolidation before the next move higher. President Trump's 25% tariffs on steel and aluminum imports fueled fears of a broader trade war, adding to market uncertainty. Investors now await Wednesday's US inflation data, which could shape Fed policy expectations. While gold is a hedge against inflation, the Fed's cautious stance on rate cuts could...
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....