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 prices fell on Wednesday to a nearly two-week low, following their sharpest one-day decline in five years in the previous session, as investors booked profits ahead of key US inflation data due later this week. Spot gold fell 2% to $4,038.89 an ounce, as of 11:19 a.m. ET (1519 GMT), after rising as high as $4,161.17 earlier in the session. US gold futures for December delivery fell 1.3% to $4,055.40 an ounce. Gold prices have hit multiple record highs and are up 54% this year, driven by geopolitical tensions, economic uncertainty, expectations of a US interest rate cut, and strong...
US Dollar (USD) consolidates within a narrow range as markets await September CPI and October PMI, while the ongoing US government shutdown adds pressure on growth and the Fed hints at year-end rate cuts, BBH FX analysts report. US government shutdown adds downside risks to growth"USD is building on yesterday's gains but continues to trade within a tight range in the absence of major US data releases. Indeed, FX volatility is well below its long-term average and near historic lows. We expect a bit more fireworks on Friday, with the release of the US September CPI and October PMI...
Oil prices pushed higher for a second day on Wednesday, rising by about 2%, buoyed by hopes of progress of a U.S. trade deal with China and India. Brent crude futures rose 96 cents, or 1.6%, to $62.28 a barrel as of 0924 GMT, while U.S. West Texas Intermediate crude futures climbed 95 cents, or 1.7%, to $58.19. "Oil prices climbed after reports suggested the U.S. and India are close to finalising a trade deal that could see India gradually cut imports of Russian crude, potentially lifting demand for other grades," MUFG analyst Soojin Kim said. U.S. President Donald Trump said he spoke...
Gold resumes corrective downside Gold stalls its recovery momentum and returns to the red below $4,100 in European trading on Wednesday. The rebound in Gold faces headwinds from a renewed buying interest seen in the US Dollar amid broad risk aversion. Easing US-China trade tensions also aids the USD's uptick, weighing on Gold once again. Gold gains ground as US Dollar weakensThe US government shutdown has entered its fourth week as the Senate on Monday failed for the 11th time to advance a House-passed measure to fund the government and end the ongoing shutdown. The 50-43 vote fell mostly...
Silver rose above $49 per ounce on Wednesday, recouping some losses after tumbling around 7% in the previous session as a wave of profit-taking gripped the market following this year's strong rally. The drop marked the steepest one-day fall since September 2011, leaving the metal down roughly 10% from record highs hit last week. Safe-haven metals also faced pressure as risk appetite improved, supported by easing US-China trade tensions and hopes for an end to the US government shutdown. US President Donald Trump said he expects to reach a favorable trade deal with China but cautioned that...
EUR/USD attempted to hold the 1.1600 area during Wednesday's Asian session after three days of weakness. The euro's rebound attempt faltered as the US dollar remained strong, supported by easing US-China trade tensions following President Donald Trump's comments about the possibility of a consensus after meeting with Xi Jinping in South Korea later this month. The DXY also remained firm near 99.00, while hopes for an end to the US government shutdown, following optimistic signals from the White House, added to the greenback's support. In Europe, market participants tended to be cautious...
Gold and silver steadied after their steepest selloff in years, as investors locked in profits on concern the recent surges in the precious metals had left them overvalued. Spot gold traded near $4,125 an ounce after tumbling as much as 6.3% on Tuesday — the biggest intraday decline in more than a dozen years — while spot silver slumped as much as 8.7%. Technical indicators had shown a scorching rally in both precious metals was likely overstretched. The pullback brought an abrupt halt to a scorching months-long advance that had seen both precious metals post record highs in...
Oil gained after an industry report signaled US crude stockpiles shrunk for the first time in four weeks, while President Donald Trump reiterated India would trim its purchases of Russian energy. West Texas Intermediate climbed toward $58 a barrel after closing 0.4% higher on Tuesday. Brent settled above $61. US inventories fell by 3 million barrels last week, while fuel stockpiles including gasoline dipped, according to the American Petroleum Institute. Government data is due later Wednesday. Meanwhile, Trump claimed for the second straight week that he spoke with Prime...
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....