Oil prices held steady on Thursday (September 11th) as concerns over weakening US demand and the risk of a wider oversupply were offset by concerns over attacks in the Middle East and Russia's war in Ukraine. Brent crude futures fell 13 cents, or 0.2%, to $67.36 per barrel at 07:29 GMT, while U.S. West Texas Intermediate crude futures fell 17 cents, or 0.3%, to $63.50. Benchmark crude prices rose more than $1 per contract on Wednesday following Israel's attack on Hamas leaders in Qatar the previous day and the mobilization of Polish and NATO air defenses to shoot down a suspected Russian...
The US Dollar (USD) gains positive traction on Thursday, recovering from a brief wobble late Wednesday after reports emerged that US President Donald Trump was considering firing Federal Reserve (Fed) Chair Jerome Powell. Market tensions eased after Trump walked back the threat, stating it was "highly unlikely" that he would dismiss Powell. The Greenback also finds support from stronger-than-expected Retail Sales data, which highlights resilient consumer spending and reduces the likelihood of near-term Fed rate cuts. The US Dollar Index (DXY), which tracks the value of the Greenback against...
Gold (XAU/USD) is experiencing a pullback on Thursday as traders digest US Retail Sales data and await further comments from Federal Reserve (Fed) officials. The yellow metal trades near $3,335 at the time of writing, down 0.30% on the day. With the timing of when the Federal Reserve will cut interest rates still uncertain, several members of the central bank are scheduled to speak throughout the day. Comments from Governor Adriana Kugler, San Francisco President Mary Daly, Governor Lisa Cook, and Governor Christopher Waller will be monitored closely. So far, comments from Kugler that it...
Silver (XAG/USD) is edging lower on Thursday, trading around $37.57 after logging a modest gain of nearly 0.56% on Wednesday. The metal remains elevated after marking a 14-year high of $39.13 earlier this week, but momentum has cooled as the price consolidates just below that peak. A stronger-than-expected US Retail Sales report for June, which showed a 0.6% monthly rise versus the 0.1% forecast, boosted the US Dollar and Treasury yields, putting mild pressure on Silver. Traders are now watching to see whether the uptrend can resume or if a deeper pullback is on the Source: Fxstreet
Oil prices rose on Thursday (July 17), even as global trade tensions appeared to ease. Analysts cited low inventories and emerging Middle East risks as factors supporting the market. Brent crude futures rose 31 cents, or about 0.5%, to $68.83 per barrel at 12:03 GMT. US West Texas Intermediate crude rose 61 cents, or 0.9%, to $66.99. US President Donald Trump said letters notifying smaller countries about their US tariffs would be sent soon, and also mentioned the prospect of a deal with Beijing on drugs and a possible agreement with the European Union. "Near-term prices are expected to...
Gold prices weakened on Thursday, pressured by a stronger U.S. dollar, as investor concerns eased temporarily after President Donald Trump said he had no plans to fire Federal Reserve Chairman Jerome Powell. Spot gold fell 0.6% to $3,324.81 an ounce, as of 09:58 GMT. U.S. gold futures fell 0.9% to $3,330.40. The dollar index (.DXY), opened in a new tab, rose 0.3% against a basket of major currencies on Thursday, making dollar-denominated bullion more expensive for holders of other currencies. This came after a source told Reuters on Wednesday that Trump was open to the idea of firing...
Oil prices edged higher on Thursday (July 17th), driven by signs of easing trade tensions, stronger-than-expected economic data from the world's major oil consumers, and renewed risks in the Middle East. Brent crude futures rose 17 cents, or about 0.3%, to $68.67 a barrel at 08:56 GMT. U.S. West Texas Intermediate crude futures rose 31 cents, or 0.5%, to $66.69. "Oil sentiment has shifted away from the Middle East, and the reminder of Israel's incursion into Syria and drone attacks on oil infrastructure in Kurdistan is timely and once again adds a bit of tension to the proceedings," said...
Gold prices weakened on Thursday, pressured by a stronger U.S. dollar, as investor concerns eased temporarily after President Donald Trump said he had no plans to fire Federal Reserve Chairman Jerome Powell. Spot gold fell 0.5% to $3,330.21 an ounce, as of 08:27 GMT. U.S. gold futures fell 0.7% to $3,335.70. The dollar index (.DXY), opened in a new tab, rose 0.3% against a basket of major currencies on Thursday, making dollar-denominated bullion more expensive for holders of other currencies. This came after a source told Reuters on Wednesday that Trump was open to the idea of firing...
Silver price (XAG/USD) trades in a tight range around $38 during the Asian trading session on Wednesday. The white metal consolidates as investors await more cues regarding trade talks between the United States (US) and the European Union (EU). On Wednesday, US President Donald Trump stated that Washington could possibly has a deal with the EU, while expressing confidence that a trade pact with India is on the horizon. "We're very close to India, and we could possibly make a deal with EU, Trump said in an interview aired on Real America's Voice. Trump's comments came at a time when EU...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....