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 Australian Dollar (AUD) remained weak against the US Dollar (USD) on Wednesday (1/22). The AUD/USD pair faced challenges as US President Donald Trump announced that his administration is considering imposing a 10% tariff on Chinese imports starting February 1. The move is reportedly related to concerns over fentanyl shipments from China to Mexico and Canada, according to Reuters. Trump said earlier, "If we make a TikTok deal and China doesn't agree to it, we could probably put tariffs on China." The comments followed the signing of an executive order that delayed the TikTok ban for 75...
The USD/CHF pair rebounded to around 0.9070, ending a two-day losing streak during early European trading hours on Wednesday (1/22). The pair's gains were supported by a generally stronger US Dollar (USD) after US President Donald Trump said on Tuesday that he would impose tariffs and duties on trading partners. On Tuesday evening, Trump said that his team was discussing 25% tariffs on Canada and Mexico, as well as duties on China and the European Union. Trump added that the measures could come into effect as early as February 1. "We're talking about a 10% tariff on China based on the fact...
Gold (XAU/USD) extended its uptrend for the third straight day on Wednesday (22/1) and climbed beyond the $2,750 level, hitting its highest level since early November during the Asian session. US President Donald Trump's tariff threats turned out to be the key factor driving flows towards the safe haven metal. Adding to this, bets that the Federal Reserve (Fed) will cut interest rates twice this year lent support to the non-yielding yellow metal. Meanwhile, the intraday positive move seemed largely unaffected by the prevailing risk sentiment. Even a modest uptick in the US Treasury bond...
Silver (XAG/USD) price extended its rally for the third straight session, trading around $30.80 per troy ounce during the Asian trading hours on Wednesday (1/22). The daily chart analysis shows a bullish bias prevailing for the precious metal, as its price continues to rise within an ascending channel pattern. The short-term momentum is strong, with the XAG/USD pair trading above the nine-day and 14-day Exponential Moving Averages (EMA). Moreover, the 14-day Relative Strength Index (RSI) is positioned above the 50-level, reinforcing the active bullish sentiment. On the upside, Silver price...
Gold rose near $2,750 an ounce on Wednesday (22/1), extending gains of more than 1% from the previous session to hit its highest since early November. The precious metal was supported by a relatively weaker U.S. dollar and increased demand for safe-haven assets, as trade war concerns persisted following President Trump's announcement of potential tariffs. Trump vowed to impose tariffs on the European Union and reiterated his consideration of 10% tariffs on China, following earlier remarks about the prospect of imposing hefty levies on Canada and Mexico. Meanwhile, traders continued to...
The Australian dollar (AUD) remained weak against the US dollar (USD) on Wednesday (1/22). The AUD/USD pair faced headwinds as US President Donald Trump announced that his administration is considering imposing a 10% tariff on Chinese imports starting February 1. The move is reportedly related to concerns over fentanyl shipments from China to Mexico and Canada, according to Reuters. Trump said earlier, "If we make a TikTok deal and China doesn't agree to it, we could probably put tariffs on China." The comments followed the signing of an executive order that delayed the TikTok ban for 75...
The dollar index held around 108.1 on Wednesday, maintaining recent losses amid lingering uncertainty over U.S. President Donald Trump's tariff plans. Trump indicated on Tuesday that he was considering a 10% tariff on Chinese imports, which would kick in on Feb. 1, just one day after threatening Mexico and Canada with tariffs of around 25%. However, none of those threats have been translated into action, fueling hopes that the administration could take a more cautious approach to tariffs, which could help reduce inflation risks. The dollar has been on an upward trajectory since October,...
US benchmark West Texas Intermediate (WTI) crude oil was trading around $75.55 on Wednesday (1/22). WTI prices fell as US President Donald Trump considered imposing tariffs on major trading partners and vowed to increase US oil and gas production. Trump declared a national energy emergency on Monday and used the authority to quickly approve new oil, gas and power projects that typically take years to obtain permits. This raised concerns about higher US production in a market that is widely expected to be oversupplied this year. Trump also said he was considering imposing 25% tariffs on...
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....