The US dollar and Treasury yields fell after Zions Bancorp and Western Alliance admitted to fraudulent lending to funds investing in troubled commercial mortgages. The Bloomberg Dollar Spot Index weakened 0.1% (the fourth straight day) and is heading for its worst week since July. The bond rally pushed the 2-year yield to its lowest level since September 2022, and the 5-year yield to its lowest since October 2024. "The USD moved lower as yields fell and regional bank concerns increased," said Mahjabeen Zaman (ANZ). USD/JPY briefly fell 0.3% to 149.93, breaking below 150 for the first time...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $69.30 on Wednesday. The WTI price trades flat after Ukraine used US ATACMS missiles to strike Russian territory for the first time. On Tuesday, Russia's defense ministry said that Ukraine hit a facility in the Bryansk region with six ATACAMS missiles. In response, Russian President Vladimir Putin lowered the threshold for a possible nuclear strike. The rising geopolitical tensions could boost the WTI price for the time being. "This marks a renewed build up in tensions in the Russia-Ukraine war and brings back into...
Gold edges higher in early Asian trade. The precious metal's appeal as a safe-haven asset has been supported by the escalating geopolitical tensions, particularly the ongoing conflict between Russia and Ukraine, says FlowCommunity's commercial director Tito Iakopa. Ukraine fired U.S.-provided long-range missiles in Russia on Tuesday. Concerns over trade uncertainties and U.S. fiscal sustainability may also provide support for higher gold prices, Iakopa says in an email. Spot gold is 0.1% higher at $2,635.88/oz. Source: Marketwatch
Oil futures hold on to the previous day's gains with attempts at a move lower held back by increased geopolitical risk premium on reports that Ukraine fired U.S.-supplied long-range missiles into Russia days after the U.S. authorized their use, raising concerns of an escalation in the conflict. Bearish views of the global supply and demand situation continue to cap rallies. "With China finding it difficult to get back on a growth trajectory north of 5% and the U.S. and Europe undergoing a cyclical slowdown, crude oil demand in 2024 and 2025 is set to grow at barely half of the 2 million b/d...
Gold prices rose for a second day mid-afternoon on Tuesday as treasury yields ease and international tensions run high after the Biden Administration permitted Ukraine to attack targets within Russia with U.S.-supplied missiles. Gold for December delivery was last seen up US$16.30 to US$2,360.90 per ounce. Following months of pressure, the Biden Administration over the weekend said Ukraine can make limited missile attacks on targets within Russia, which Moscow said will mean it is now at war with NATO. Gold's gain "were supported by a softer dollar and worsening US-Russia relations after...
Silver prices climbed above $31 per ounce on Tuesday, extending gains from the previous session as the dollar rally paused and investors reassessed the outlook for Federal Reserve monetary policy. The dollar faced a wave of profit-taking following its recent rally which was driven by expectations of fewer Fed rate cuts and optimism about US economic outperformance under the incoming Trump administration. Investors are now waiting for more comments from Fed officials this week for further guidance on the US interest rate path. Markets are also focused on China's upcoming LPR decision, with...
Gold prices climbed for a second straight session to hit a one-week peak on Tuesday as the U.S. dollar pulled back from recent highs, while investors awaited comments from Federal Reserve officials for clarity on its interest rate cut policy. Spot gold rose 0.8% to $2,634.20 per ounce, the highest since Nov. 11. Prices gained 2% on Monday, recovering from a two-month low hit reached last Thursday. U.S. gold futures added 1% to $2,641.10. "The selling has run out of steam and that's attracting those potential buyers sitting on the fence waiting for the market to stabilize to get back in,"...
Oil retreated after its biggest gain in more than five weeks as Europe's largest oilfield gradually restarted following a power outage. Brent futures traded near $73 a barrel as Equinor ASA restored production at the Johan Sverdrup oil field in the North Sea to two-thirds of capacity after yesterday's halt. Crude had surged 3.2% on Monday as the dollar weakened, making commodities more attractive to investors. Traders are also tracking the latest geopolitical tensions. Ukrainian armed forces carried out their first strike in a border region within Russian...
Gold futures rise on a weaker dollar and easing U.S. Treasury yields. Futures rise 0.6% to $2,630.30 a troy ounce. The precious metal has regained some ground after Donald Trump's U.S. presidential election victory prompted a surge in the greenback, suppressing gold demand. Geopolitical risks have reemerged, driving safe-haven demand for gold and solidifying its role as a reliable hedge, says Pepperstone's Ahmad Assiri. The precious metal's future trajectory has split market opinions, Assiri says in a note. It could sink to lower price levels if the Federal Reserve tightens U.S. monetary...
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....