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 dollar fell on Friday and was on track for its worst week in more than a year on expectations that tariffs enacted by U.S. President Donald Trump will be lower than previously feared and unlikely to spur an international trade war. The prospect of high tariffs on goods from countries including China, Canada, Mexico and the euro zone have raised concerns about a renewed bout of inflation, which has helped to send Treasury yields and the U.S. dollar higher in recent months. But that move partially reversed this week as traders bet that tariffs may not be as large or as widespread as...
The USD/CHF pair remains on the defensive around 0.9045 during the early European session on Friday, pressured by the weaker US Dollar (USD) broadly. Traders will closely monitor the flash US S&P Purchasing Managers Index (PMI) for January, which is due later on Friday. During a virtual address to the World Economic Forum in Davos, Switzerland, US President Donald Trump on Thursday called for a drop in interest rates after asking for a reduction of oil prices set by a group of nations known as OPEC, which includes Saudi Arabia. "With oil prices going down, I'll demand that interest rates...
Crude oil prices were little changed on Friday (1/24) but headed for a weekly decline after U.S. President Donald Trump unveiled a sweeping plan to increase U.S. production and demanded that OPEC lower crude prices. Brent crude futures were up 6 cents at $78.35 a barrel by 0745 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 4 cents at $74.66. For the week, Brent is down 3.07% so far, and WTI is down 4.17%. "Crude oil prices have eased so far this week, as investors trimmed their war premiums after the Gaza ceasefire while bracing for a shift in Trump's energy policy,"...
The AUD/USD pair broke out of a two-day-old consolidative trading range and climbed to its highest level in over a month, around the 0.6330 region on the last day of the week. The spot prices maintained their intraday positive bias through the first half of the European session, with bulls now awaiting a move beyond the 50-day Simple Moving Average (SMA) before positioning for any further gains amid broad-based US Dollar (USD). The USD Index (DXY), which tracks the greenback against a basket of currencies, fell to a one-month low amid bets that the Federal Reserve (Fed) will lower borrowing...
The US Dollar Index (DXY), which tracks the greenback against a basket of currencies, fell for the second straight day and dropped to a fresh monthly low during the Asian session on Friday (1/24). The index is currently trading around the 107.80 region, down nearly 0.35% for the day, and remains on track to post a second straight week of losses. The market has been pricing in the possibility that the Federal Reserve (Fed) will cut borrowing costs twice this year amid signs of inflationary pressures in the US. Moreover, US President Donald Trump, speaking remotely at the World Economic Forum...
The EUR/USD pair attracted some buyers near 1.0450 during the early Asian session on Friday (1/24), supported by a weaker US Dollar (USD). The preliminary readings of the HCOB Purchasing Managers' Index (PMI) for January from the Eurozone and Germany are due later on Friday. On the US data front, the flash S&P PMI for January will be in the spotlight. US President Donald Trump's remarks at the World Economic Forum in Davos dragged the USD lower against a basket of major currencies. Trump said on Thursday night that he wants to see interest rates cut soon, and likewise, interest rates...
Silver (XAG/USD) prices recovered from recent losses, trading around $30.80 per troy ounce during the Asian trading session on Friday (1/24). Demand for non-interest bearing Silver increased following comments made by US President Donald Trump on Thursday night. Trump expressed his desire for the US Federal Reserve (Fed) to cut interest rates without delay. "With oil prices going down, I will demand that interest rates be cut immediately, and interest rates should be cut all over the world," he said during the World Economic Forum in Davos, Switzerland. Additionally, industrial demand for...
Gold rose above $2,770 an ounce on Friday, hitting its highest level since October, just shy of a record high of $2,790, after President Trump called for an immediate interest rate cut. That boosts gold's appeal as a safe haven, with lower interest rates making the non-yielding precious metal more attractive. Traders continued to flock to the safe haven asset, remaining cautious amid uncertainty over the impact of Trump's proposed tariffs and immigration policies. A weaker U.S. dollar also supported the uptrend. Meanwhile, investors are eyeing upcoming policy announcements from global...
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....