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...
Oil headed for a second weekly gain as US crude stockpiles continued to fall and as futures breached a key technical threshold. West Texas Intermediate traded above $73 a barrel after rising 2% on Thursday to the highest level since mid-October. Brent closed near $76. US nationwide inventories dropped for a sixth straight week, and stockpiles remain well below the five-year seasonal average. Oil has broken out of a narrow range it's been trading in since the mid-October, with a move by both benchmarks above their 100-day moving average leading to algorithmic buying. The outlook...
The USD/CHF pair continues to decline from its seven-month high of 0.9080, as the US Dollar Index (DXY) hovers near 108.30 after retreating from a multi-year high of 108.58 reached on Tuesday. During European trading hours on Thursday, the USD/CHF pair trades around 0.9050.Traders will likely observe the US weekly Initial Jobless Claims and S&P Global Manufacturing PMI for December, scheduled to be released later in the North American session.However, the downside of the US Dollar could be limited by growing expectations that the US Federal Reserve (Fed) will adopt a slow and cautious...
Gold (XAU/USD) prices extended intraday gains near $2,650 in the North American open on Thursday after the New Year holiday. The precious metal gained as its appeal as a safe-haven asset increased, with investors focused on President-elect Donald Trump taking office on January 20. Trump's expected incoming policies, such as higher import tariffs and lower taxes, would be a boon for Gold. Higher import tariffs would lead to a potential global trade war and lower taxes would increase inflationary pressures in the United States (US). Gold tends to outperform amid economic uncertainty as a...
The U.S. dollar weakened on Thursday as traders headed into the new year, but the greenback remained close to a two-year high seen earlier in the week and is likely to remain supported in the near term given a more hawkish Fed stance and expectations for the incoming Trump administration. At 4:45 AM ET (09:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.1% lower at 108.215, but remained close to a two-year high hit on Tuesday. Dollar to remain in demand in 2025 The index rose 7% in 2024 as traders sharply cut expectations for a...
Silver (XAG/USD) prices kicked off 2025 on a strong note. The white metal gained nearly 1.50% in the European session on Thursday and rose near $29.40. The asset gained as the US Treasury yield rally stalled after surging more than 10% in the past four weeks The 10-year US Treasury yield dipped near 4.55%. Lower yields on interest-bearing assets suggest a lower opportunity cost for non-yielding assets, such as Silver, which increases its appeal. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, traded sideways near a more than...
Oil prices edged higher on Thursday, the first trading day for 2025, as investors returning from holidays cautiously eyed China's economy and fuel demand following President Xi Jinping's pledge to boost growth. Brent crude futures were up 16 cents, or 0.21%, at $74.80 a barrel by 0829 GMT after closing up 65 cents on Tuesday, the last trading day for 2024. U.S. West Texas Intermediate crude futures were up 16 cents, or 0.22%, at $71.88 a barrel after closing up 73 cents in the previous session. Xi said Tuesday in his New Year's speech that the country will implement more proactive policies...
Gold (XAU/USD) prices rose for the third straight session on Thursday, after rising more than 27% in 2024, marking its best performance since 2010. The upward momentum was driven by US monetary easing, persistent geopolitical tensions, and record central bank buying. However, non-interest-bearing gold may face some headwinds as the Federal Reserve (Fed) is expected to take a more cautious approach to further interest rate cuts in 2025, signaling a shift in its aggressive monetary policy stance. The shift is driven by uncertainty surrounding potential policy changes under the Trump...
EUR/USD traded vulnerable and held near more than a month-low around 1.0350 on the first trading day of the year. The major currency pair is in a tough spot as the US Dollar (USD) holds near more than two-year highs, with the Dollar Index (DXY) trading around 108.50 on optimism that the Federal Reserve (Fed) will cut interest rates lower than previously anticipated this year. Source: FXStreet
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....