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 price enters a bullish consolidation phase after hitting a fresh record high during the Asian session on Friday and currently trades just below the $2,800 mark. Concerns over the potential economic fallout from US President Donald Trump's tariff plans, along with geopolitical tensions, continue to boost demand for the safe-haven bullion. Adding to this, expectations that Trump's protectionist policies would boost inflation further benefit the precious metal's hedge against rising price pressures. That said, the Federal Reserve's (Fed) first pause since the start of its easing cycle in...
Silver price (XAG/USD) halts its three-day winning streak, trading around $31.30 per troy ounce during Asian hours on Friday. A daily chart analysis suggests a persistent bullish bias for the precious metal, as its price continues to rise within an ascending channel pattern. The XAG/USD pair trades above both the nine-day and 14-day Exponential Moving Averages (EMAs), suggesting that short-term momentum is strong. Additionally, the 14-day Relative Strength Index (RSI) is positioned above the 50 level, reinforcing the active bullish sentiment. Source: FXStreet
The Japanese Yen (JPY) attracts buyers for the third straight day on Friday and remains close to over a one-month high touched against its American counterpart earlier this week. Data released earlier today showed that consumer prices in Tokyo – Japan's capital – rose in January. Moreover, Japanese Industrial Production registered unexpected growth in December and Retail Sales surged past consensus estimates. This keeps alive expectations for further interest rate hikes by the Bank of Japan (BoJ), which, in turn, continues to underpin the JPY. Source: FXStreet
The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the fifth consecutive day on Friday. The AUD/USD pair depreciates due to tariff threats from US President Donald Trump against China. Investors await more clarity from Trump's tariff policies. ANZ, CBA, Westpac, and now National Australia Bank (NAB) all anticipate a 25 basis point (bps) rate cut from the Reserve Bank of Australia (RBA) in February. Previously, the NAB had forecasted a rate cut in May but has now moved its projection forward to the February RBA meeting. Easing inflationary pressures...
Gold edges higher in the early Asian trade. Prices rose recently on a weaker dollar and concerns about President Trump's potential tariffs, say ANZ Research analysts in a note. Traders are monitoring the potential economic implications of widespread tariffs under the Trump administration, which could boost demand for safe-haven assets, says Harbourfront Wealth - Sonora Wealth Group's Miro Svoboda in a note. Spot gold is 0.2% higher at $2,798.47/oz. Source: Dow Jones Newswires
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.85 during the early Asian session on Friday. The WTI price edges higher as traders assess the impact of threatened US tariffs on Canadian and Mexican crude imports that could take effect on Saturday. US President Donald Trump has threatened to impose a 25% tariff as early as Saturday on imports from Canada and Mexico, but he has not yet decided whether to include oil imports in the measure. The White House said late Wednesday that both countries can avoid this if they act swiftly to close their borders to...
Oil prices edged up on Thursday, held in check by threatened U.S. tariffs on Canadian and Mexican crude imports that could take effect this weekend. Brent crude futures settled 29 cents, or 0.4%, higher at $76.87 a barrel. U.S. crude futures finished at $72.73 a barrel, up 11 cents, or 0.2% higher than Wednesday, when they settled at their lowest level this year so far. "We're getting close to the deadline and people are getting nervous," said Phil Flynn, senior analyst with Price Futures Group. U.S. President Donald Trump has threatened to impose a 25% tariff as early as Saturday on...
USD/CHF steadies after two consecutive days of gains, trading around 0.9070 during the Asian session on Thursday. This decline is mainly attributed to a weaker US Dollar (USD). The US Dollar Index (DXY), which tracks the Greenback against six major currencies, hovers slightly below the 108.00 mark at the time of writing. Traders are awaiting the release of the US fourth-quarter Gross Domestic Product (GDP) growth data, scheduled for Thursday. The market consensus expects a slowdown in annualized GDP growth, with a forecast of 2.6%, down from the previous 3.1%. Inflationary concerns persist,...
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....