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 continues its downward trend for the fourth consecutive day, trading near 1.2350 during Asian hours on Tuesday. The pair weakens amid escalating trade tensions after US President Donald Trump imposed a flat 25% tariff on steel and aluminum imports on Monday, removing all exemptions and nullifying previous trade agreements with key United States' (US) allies. The move is intended to support struggling domestic industries but increases the risk of a broader trade conflict. Trump's proclamations raised the US aluminum tariff from 10% to 25%, eliminating country-specific exemptions,...
Gold price (XAU/USD) builds on the previous day's breakout momentum above the $2,900 round-figure mark and gains strong follow-through positive traction during the Asian session on Tuesday. US President Donald Trump's latest tariffs on commodity imports reignite global trade war fears and lift the safe-haven bullion to a fresh record high, around the $2,942-2,943 area in the last hour. Furthermore, expectations that Trump's protectionist policies would boost inflation turn out to be another factor that underpins the precious metal's status as a hedge against rising prices. Meanwhile,...
The dollar index maintained its recent rally, holding above 108.3 on Tuesday, as President Donald Trump signed an executive order imposing 25% tariffs on steel and aluminum imports "without exceptions or exemptions." Trump also revealed plans to introduce reciprocal tariffs on other countries in the coming days. This move raised concerns about a global trade war that could fuel inflation, potentially limiting the Federal Reserve's ability to cut interest rates further. Traders were also preparing for Fed Chair Jerome Powell's testimony before Congress on Tuesday and Wednesday, hoping for...
The Japanese Yen (JPY) attracted some safe-haven flows during the Asian session on Tuesday in reaction to US President Donald Trump's new tariffs on steel and aluminum imports. Apart from this, the Bank of Japan's (BoJ) plans to hike interest rates further turn out to be another factor that underpins the JPY. This, in turn, keeps the USD/JPY pair below the 152.00 mark and a confluence support-breakpoint-turned-resistance retested on Monday. Meanwhile, Trump's no-exemption tariffs on commodity imports effectively end deals with the European Union, the United Kingdom, Japan, and other...
Gold price builds on its positive move beyond the $2,900 mark and hits a fresh record high during the Asian session on Tuesday as Trump's trade tariffs continue to boost demand for the safe-haven bullion. Bulls seem unaffected by expectations that the Fed would stick to its hawkish stance and a modest USD strength.Risk aversion keeps fueling Gold demand, with the bright metal conquering the $2,900 threshold on Monday. Demand for safety was boosted by comments from United States (US) President Donald Trump, who pledged to impose more tariffs over the weekend. Speaking to reporters on Air...
The Australian Dollar (AUD) weakened against the US Dollar (USD) on Tuesday as downward pressure mounted on the AUD/USD pair. The decline followed US President Donald Trump's decision to expand steel and aluminum tariffs by 25% to include all imports, nullifying trade agreements with key US allies, including Australia. The White House confirmed that all import tax exclusions had been removed and indicated that further action on microchips and vehicles would be considered in the coming weeks.Australia's Westpac Consumer Confidence increased by 0.1% in February, reaching 92.2 from 92.1 in...
Oil prices were steady on Tuesday as traders digested another round of trade tariffs, this time a 25% levy on all U.S. imports of steel and aluminium, which could weigh on global economic and energy demand in the world's biggest oil consumer. Brent crude futures were up 11 cents, or 0.14%, at $75.98 a barrel by 0128 GMT, while U.S. West Texas Intermediate crude rose 5 cents or 0.07% to $72.37. President Donald Trump substantially raised tariffs on steel and aluminium imports to the U.S. on Tuesday to a flat 25% "without exceptions or exemptions" to aid the struggling industries that could...
Gold is higher in the early Asian session, aided by prospects of demand for the precious metal as a hedge against inflation. U.S. President Trump on Monday announced global 25% tariffs on imports of steel and aluminum to the U.S. Key commodities including gold have absorbed the latest round of inflation-inducing measures of the Trump administration, says Matt Simpson, market analyst at FOREX.com and City Index. Gold's daily chart shows a strong bullish trend which appears averse to any meaningful pullback greater than a day, Simpson adds. Spot gold is 0.3% higher at $2,916.41/oz. Source :...
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....