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...
Brent crude fell below $79 a barrel on Thursday, falling for a fifth straight session after an industry report revealed a fresh build in U.S. crude inventories. API data showed a 1 million-barrel increase in crude inventories last week, the first increase in five weeks of declines. Traders also continued to assess the potential impact on energy markets from President Trump's proposed tariffs on China, the European Union, Canada and Mexico, along with warnings of penalties for Russia if President Putin fails to end the Ukraine war. In other news, Saudi Arabia's crude exports hit an...
US benchmark West Texas Intermediate (WTI) crude oil prices traded around $75.00 on Thursday (1/23). WTI prices continued to fall to a one-week low as traders assessed how US President Donald Trump's proposed tariffs could impact energy demand and the global economy. On Monday, Trump said he was considering imposing 25% tariffs on Canada and Mexico while discussing imposing 10% tariffs on Chinese imports on February 1. The tariffs could potentially slow economic growth and drag the black gold lower. "The potential sanctions under the new Trump administration remain unclear, with potential...
Gold hits new 2025 highs amid rising investor anxiety from Trump's trade rhetoric.Despite a rise in the US Dollar Index, Gold's ascent signals strong safe-haven demand.Geopolitical tensions in the Middle East escalate, alongside potential US economic measures against Russia. Gold price advances over 0.39% late in the North American session, with the precious metal climbing decisively above the psychological $2,650 figure with buyers setting their sights at the record high of $2,790. At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741. The...
AUD/USD rises to a new monthly high just below 0.6300, helped by signs that United States (US) tariffs on China may not be as harsh as initially feared. Meanwhile, the US Dollar (USD) recovers slightly from multi-day lows, reflecting ongoing uncertainty regarding future US trade policies. Market participants look forward to the upcoming flash S&P Global PMI numbers for January to gauge broader economic sentimentAussie extends gains while markets await fresh driversThe amount of China-specific tariffs proposed under Donald Trump's revised plan appears significantly smaller than originally...
The USD/CHF pair moved higher near 0.9060 in the North American session on Wednesday (1/22). The Swiss franc pair recovered intraday losses and edged higher as Swiss National Bank (SNB) Chairman Martin Schlegel has opened the door to negative interest rates. Schlegel said in an interview with Bloomberg TV at the World Economic Forum (WEF) in Davos that the SNB "doesn't like negative interest rates" but if we have to do it, "we will do it." His ultra-dovish monetary policy stance is supported by the risk of inflation rising beyond the SNB's target range. Schlegel added, "We are ready to...
Gold prices edged up to an 11-week high in Asian trading on Wednesday, extending gains for a third straight session as safe-haven demand increased amid concerns about U.S. tariffs under President Donald Trump. Spot gold rose 0.2% to $2,749.29 an ounce, its highest since early November, while February gold futures rose 0.2% to $2,766.57 an ounce by 1:45 p.m. ET (06:45 GMT). The metal was set for a third straight day of gains, as traders remained cautious as they tried to gauge Trump's policies, which are expected to boost inflation. Gold is seen as a hedge against inflation. The dollar had...
Oil prices fell on Wednesday, extending the previous session's decline as markets digested U.S. President Donald Trump's declaration of a national energy emergency on his first day in office and eyed his tariff policies. Brent crude futures fell 36 cents, or 0.5%, to $78.93 a barrel by 0730 GMT. U.S. West Texas Intermediate crude futures fell 46 cents, or 0.6%, to $75.37. Crude prices closed lower on Tuesday after Trump laid out a sweeping plan to boost oil and gas production, including declaring a national energy emergency to speed up permitting, roll back environmental protections and...
The pound (GBP) weakened against the US dollar (USD) in London on Wednesday (22/1) but held on to Tuesday's gains above the key support level of 1.2300. The GBP/USD pair weakened slightly as the US dollar recovered slightly, with the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, edging higher from a two-week low of 107.90. However, the greenback could face selling pressure as its safe-haven demand has waned. The safe-haven appeal of the USD has waned as the tariff plans unveiled by the US administration of President Donald Trump were not as...
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....