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...
Gold dropped 1% on Monday, ending a four-session winning streak, weighed down by a robust U.S. dollar, as investors eyed upcoming economic data and remarks from Federal Reserve officials for clues on the future of U.S. interest rates. Spot gold was down 0.5% to $2,640.93 per ounce, as of 1207 GMT. It was down 1% earlier in the session. U.S. gold futures fell 0.6% to $2,663.90. The dollar index gained 0.5%, on track for its best day in over a week, making greenback-priced bullion more expensive for holders of other currencies. Trump on Saturday called on BRICS nations to pledge not to...
The greenback snapped a three-day losing streak amid focus on French budget talks and a fresh currency warning by President-elect Donald Trump. The Bloomberg Dollar Spot Index rises as much as 0.6% while the yield on 10-year Treasuries is up by three basis points to 4.20%. Trump warned the so-called BRICS countries he would require a commitment that they wouldn't create a new currency as an alternative to using the greenback, and repeated threats to levy a 100% tariff if they did. This is a tactic that risks backfiring, market watchers...
WTI crude oil prices were steady at $68.5 a barrel on Monday, as investors monitored positive economic data from China, and awaited the upcoming OPEC+ meeting. Chinese factory activity grew for a second month and at the fastest pace in five months in November, signaling a recovery in the world's largest oil importer after a series of stimulus measures introduced in late September. At the same time, Saudi Arabia, is anticipated to lower crude prices for Asian buyers in January to a four-year low. Attention also remains on the delayed OPEC+ meeting, rescheduled for later this week, where the...
Gold (XAU/USD) prices maintained its bid tone through the first half of the European session on Monday (2/12) and is currently trading around the $2,630 region, or the lower end of its daily range. The US Dollar (USD) bounced back after its recent decline to a near three-week low amid a healthy uptick in the US Treasury bond yields and turned out to be a key factor weighing on the precious metal. Furthermore, expectations that US President-elect Donald Trump's tariff plans and expansionary policies will boost inflation, setting the stage for the Federal Reserve (Fed) to halt interest rate...
Silver prices fell nearly $30 an ounce on Monday, extending losses from last week as the U.S. dollar strengthened on optimism about the U.S. economic outlook. The dollar also gained after U.S. President-elect Donald Trump threatened BRICS nations on Saturday with 100% tariffs if they create or support a new currency that could replace the dollar. A stronger dollar makes dollar-denominated commodities more expensive for buyers holding other currencies, dampening demand. Meanwhile, data showed that Chinese manufacturing activity expanded for a second straight month in November, following a...
Gold (XAU/USD) prices remained strongly offered through the early European session on Monday (2/12) and is currently trading near the lower end of its daily range, around the $2,629 region. This marked the first day of a negative move in the previous five and was sponsored by a combination of factors. Investors now seem convinced that US President-elect Donald Trump's tariff plans could reignite inflation and limit the scope for the Federal Reserve (Fed) to cut interest rates. This, in turn, triggered a fresh leg up in the US Treasury bond yields and drove flows away from the non-yielding...
The dollar rose on Monday amid a weaker euro and yen, as market participants continued to assess political tensions in France and a rebound in Treasury yields. The Bloomberg Dollar Index rose as much as 0.5%, while the euro fell after a far-right French party threatened to overthrow the government amid a budget impasse. Futures on the Euro Stoxx 50 fell 0.9%, indicating a weak open. French bond futures fell. The euro fell as much as 0.6%. The single currency may see further weakness after Governing Board member Martins Kazaks told broadcasters the European Central Bank should continue to...
Oil prices rose on Monday, supported by upbeat factory activity in China, the world's second-largest oil consumer, and as Israel pressed ahead with its offensive against Lebanon despite a ceasefire pact, stoking tensions in the Middle East. Brent crude futures rose 34 cents, or 0.47%, to $72.18 a barrel by 0452 GMT while U.S. West Texas Intermediate crude was at $68.32 a barrel, up 32 cents, or 0.47%. "Oil prices have managed to stabilize into the new week, with continued expansion in Chinese manufacturing activity reflecting some degree of policy success from recent stimulus efforts,"...
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....