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 British Pound resumed its slide against its American rival in the American session on Monday, as the US Dollar (USD) found near-term demand in a risk-averse environment. The GBP/USD pair fell to an intraday low of 1.2473 following the release of mixed United Kingdom (UK) data. The UK reported that the Q3 Current Account posted a deficit of £ 18.099 billion, improving from the £-24.002 billion posted in the previous quarter. The Q3 Gross Domestic Product (GDP) suffered downward revisions, with the annual reading confirmed at 0.9%, below the 1% expected. The UK economy did not grow in...
The U.S. dollar rose on Monday, recovering from a sharp drop late last week on signs of easing inflation pressures, while the euro weakened after dovish comments from ECB chief Christine Lagarde. At 5 a.m. ET (10 a.m. GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.4% higher at 107.750, having fallen sharply from a two-year high on Friday. The dollar rose on Monday after falling sharply on Friday as the Federal Reserve's preferred inflation gauge showed modest monthly price increases, with the underlying inflation measure posting...
Gold prices continued to recover from a one-month low touched last Thursday and gained positive traction for the third straight day at the start of a new week. The commodity maintained its positive bias through the first half of the European session and was supported by some safe-haven inflows – supported by geopolitical risks and trade war fears. That said, the positive risk tone acted as a headwind for the precious metal. Meanwhile, the Federal Reserve's (Fed) hawkish signals kept the US Treasury bond yields buoyant and helped the US Dollar (USD) in attracting some dip-buying on Monday....
Oil prices rose on Monday as weaker-than-expected U.S. inflation data revived hopes for further policy easing, although the prospect of a supply surplus next year weighed on the market. Brent crude was up 36 cents, or 0.5%, at $73.30 a barrel by 0421 GMT. U.S. West Texas Intermediate crude was up 39 cents, or 0.6%, at $69.85 a barrel. "Risk assets, including U.S. equities and crude, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal Reserve's aggressive interest rate cuts. "I think the...
The USD/CHF pair strengthened to around 0.8935, snapping a two-day losing streak during the early European session on Monday (12/23). A hawkish interest rate cut by the US Federal Reserve (Fed) provided some support to the greenback. Traders await the December US Consumer Confidence report and the Chicago Fed National Activity Index, due on Monday. The Fed cut interest rates by a quarter-point last week and has forecast only two rate cuts in 2025, down from its initial estimate of four. Hawkish signals from the US central bank, which has recently appeared concerned about persistent...
Gold (XAU/USD) prices struggled to capitalize on last week's modest recovery from one-month lows and fluctuated in a range around $2,625 during the Asian session on Monday (December 23). The US Dollar (USD) remained subdued below a two-year high touched on Friday and turned out to be a key factor acting as a tailwind for the commodity. Additionally, geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East further supported the safe-haven precious metal. Meanwhile, the Federal Reserve's (Fed) hawkish signal that it will slow the pace of interest rate...
Oil prices edged higher on Monday, along with other risk assets, after U.S. data showed a slowdown in inflation, reviving hopes of further policy easing next year that would support global economic growth and oil demand. Brent crude futures were up 26 cents, or 0.4%, at $73.20 a barrel by 0141 GMT. U.S. West Texas Intermediate crude was up 31 cents, or 0.5%, at $69.77 a barrel. "Risk assets, including U.S. equity futures and crude oil, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal...
Gold (XAU/USD) prices held steady near $2,625 during the early Asian session on Monday. The Federal Reserve's (Fed) hawkish stance may weigh on the yellow metal. However, a weaker greenback after a softer inflation report could limit its decline. The Fed cut interest rates in its December meeting as expected but signaled it would slow the pace of borrowing cost cuts further. The Fed's dot plot, a chart that projects the future path of interest rates, indicated a half percentage point rate cut in 2025, compared to a full percentage point cut projected in September. This, in turn,...
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....