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 US Dollar Index (DXY), which tracks the value of the Greenback against six major currencies, traded lower and nearly broke below 109.00 on Monday (1/20) ahead of President-elect Donald Trump's inauguration as the 47th President of the United States (US). Several asset classes in the US will remain closed, such as Wall Street trading and US Treasury trading, in observance of Martin Luther King Day. This means volatile movements could occur in markets with thin liquidity. All eyes will be on the post-inauguration, with President-elect Donald Trump having confirmed at a rally on Sunday...
EUR/USD rose sharply to near 1.0300 in Monday's European session. The major currency pair gains as the safe-haven appeal of the US Dollar (USD) diminishes ahead of United States (US) President-elect Donald Trump's inauguration. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, declines to near 109.00. The Greenback faces pressure as investors digest the assumption that Trump will declare a national emergency soon after taking office. This move would allow him to boost domestic energy production and reverse some climate change policies executed under...
Oil prices fell on Monday as expectations that U.S. President-elect Donald Trump will ease restrictions on Russia's energy sector in return for a deal to end the Ukraine war offset concerns about supply disruptions from tougher sanctions. Brent crude futures fell 28 cents, or 0.35%, to $80.51 a barrel by 0739 GMT after closing down 0.62% in the previous session. The more active U.S. West Texas Intermediate crude for April delivery fell 21 cents to $77.18 a barrel. The front-month contract, which expires on Tuesday, was unchanged at $77.88 a barrel after closing down 1.02% on...
Gold (XAU/USD) prices struggled to capitalize on their intraday uptick and flat-lined above the $2,700 mark during the first half of the European session on Monday (January 20). The risk-on environment as depicted by a generally positive tone around equity markets turned out to be a key factor that acted as a headwind for the safe-haven precious metal. Traders also seemed reluctant to place any aggressive bets and preferred to wait for US President-elect Donald Trump's inauguration speech later today. Meanwhile, signs of easing inflation in the US fuelled speculations that the Federal...
The Australian Dollar (AUD) halted its two-day losing streak against the US Dollar (USD) on Monday (1/20), receiving support from rising metal prices. However, the upside in the AUD/USD pair may remain limited as the US Dollar (USD) could strengthen amid market caution ahead of President-elect Donald Trump's inauguration later in the day. US markets will remain closed on Monday for the Martin Luther King Jr. holiday. The People's Bank of China (PBOC) announced on Monday that it will keep the Loan Prime Rate (LPR) unchanged. The one-year Loan Prime Rate (LPR) remains at 3.10%, while the...
The USD/CHF pair moved lower near 0.9130 during the Asian trading hours on Monday (1/20), pressured by a weaker US Dollar (USD). Cautious market sentiment ahead of the inauguration of President Donald Trump provided some support to the safe-haven flows, which benefited the Swiss Franc (CHF). Technically, USD/CHF maintains the current bullish sentiment as the price is well supported above the 100-day Exponential Moving Average (EMA) on the daily chart. Moreover, the upside momentum is supported by the 14-day Relative Strength Index (RSI), which is located above the midline near 60.50,...
Gold (XAU/USD) attracted some dip buyers near the $2,689 region during the Asian session on Monday (20/1) and for now, seems to have stalled its retracement slide from one-month tops touched last week. The US dollar (USD) started the new week on a weaker note and eroded part of Friday's positive move amid bets that the Federal Reserve (Fed) will cut interest rates twice this year amid signs of easing inflation in the US. This, coupled with uncertainty over US President-elect Donald Trump's tariff plans, lifted the safe-haven precious metal back above the $2,700 mark in the last...
Silver (XAG/USD) prices extended their decline for the second straight session, trading around $30.30 an ounce during Asian trading hours on Monday (1/20). The safe-haven metal is facing challenges amid easing tensions in the Middle East. On Sunday, Hamas and Israel exchanged hostages and prisoners, marking the first day of a ceasefire after 15 months of conflict. Hamas released three female hostages in exchange for 90 Palestinians imprisoned in Israel, according to Bloomberg. In return, for the three Israeli hostages released, Hamas agreed to release 90 prisoners and detainees, all of whom...
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....