Friday, 29 March 2024
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Friday, 29 March 2024 01:50 WIB

West Texas Intermediate (WTI) crude oil closed higher on Thursday following two losing sessions on expectations global inventories will continue to wane through the second quarter on OPEC+ production cuts and Ukrainian attacks on Russian refineries. WTI crude oil for May delivery closed up US$1.82 to settle at US$83.17 per barrel, while May Brent crude, the global benchmark, was last seen up US$1.35 to US$87.44. OPEC's the Joint Monitoring Ministerial Committee will meet next week, though no change to production quotas is expected as OPEC+'s 2.2-million barrels per day of voluntary...

RECENT NEWS
Oil Pushes Higher as US Stockpile Draw and Fed's Plan Buoy Mood
Thursday, 21 March 2024 07:57 WIB | Minyak Oil,

Oil advanced after US stockpiles fell and the Federal Reserve signaled that it would cut interest rates this year, boosting risk appetite across wider markets and bruising the dollar. Global benchmark Brent rose above $86 a barrel, climbing for the third time four sessions, while West Texas Intermediate was near $82. Nationwide US crude inventories dropped for a second week, with stockpiles below the five-year seasonal average. A large draw was also logged for gasoline. Federal Reserve officials maintained their outlook for three interest-rate cuts...

WTI Crude Oil Retreats Despite a Drop in US Inventories as the Dollar Rises Ahead of the Fed Rate Decision
Thursday, 21 March 2024 01:52 WIB | Minyak WTI Minyak WTI

West Texas Intermediate (WTI) crude oil closed lower, retreating from a five-month high on Wednesday even as a report showed a drop in US inventories as the dollar rose ahead of the end of the two-day meeting of the Federal Reserve's policy committee. WTI crude oil for April delivery closed down US$1.79 to settle at US$81.68 per barrel, while May Brent oil, the global benchmark, was last seen down US$1.49 to US$85.89. Prices had been strengthening in recent days, breaking out of a range the commodity had been stuck in for months after the International Energy Agency last week raised its...

Gold Closes with a Small Gain as the Dollar Climbs Ahead of the End of the Fed's Policy Committee Meeting
Thursday, 21 March 2024 01:26 WIB | GOLD EMAS

Gold closed with a minor gain on Wednesday even as the dollar rose prior to the 2:00 p.m. end to the Federal Reserve's policy committee meeting that left interest-rates unchanged. Gold for June delivery closed up US$1.20 to settle at US$2,182.40 per ounce. The rise came ahead of the afternoon conclusion of the Federal Open Market Committee meeting, which will be followed by a press conference with Fed chair Jerome Powell. Optimism the central bank will soon begin lowering rates has faded with inflation remaining above its 2% target but comments from the meeting and Powell will be closely...

Gold is Flat on Stronger Dollar; Focus on Fed Rate Verdict, Powell Comments
Wednesday, 20 March 2024 21:53 WIB | GOLD EMAS Spot Emas

Gold prices were little changed Wednesday as the U.S. dollar firmed, while traders awaited the U.S. Federal Reserve's monetary policy decision and Fed Chair Jerome Powell's remarks for more clues on prospects of rate cuts. Spot gold was flat at $2,157.49 per ounce. Gold has fallen 2% from a record high of $2,194.99 hit on March 8, as last week's hotter-than-expected U.S. consumer prices index figures dashed hopes for early and sharp rate cuts. The dollar edged up ahead of the Fed verdict, making gold more expensive for holders of other currencies. Gold has so far managed to hold above...

Oil Retreats from Multi-Month Highs Ahead of Fed Decision
Wednesday, 20 March 2024 18:28 WIB | Minyak Minyak WTI Minyak Mentah Minyak Brent

Oil prices edged lower on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve's interest rate policy announcement later in the day. Brent crude futures for May fell 62 cents, or 0.71%, to $86.76 a barrel by 1028 GMT. U.S. West Texas Intermediate futures for April delivery, which expire on Wednesday's settlement, fell 71 cents, or 0.85%, to $82.76 a barrel. The more active May WTI contract was at $82.11 a barrel, down 62 cents, or 0.75%. Investors are looking ahead to the Federal Reserve's announcement later on Wednesday for...

Gold Steady as Investors Await Fed Guidance on US Rate Outlook
Wednesday, 20 March 2024 17:57 WIB | GOLD EMAS Spot Emas

Gold was steady as investors await the Federal Reserve's rate decision later Wednesday, with policymakers due to present forecasts that could shed light on the timing of a pivot to monetary easing. The precious metal has traded in a narrow band this week, before the release of the Fed's latest quarterly projections known as the dot plot which will show how much the central bank expects to cut rates in 2024 and 2025. Most economists surveyed by Bloomberg see policymakers penciling in three cuts this year with the first move in June, in line with markets' current...

Dollar Strengthens Ahead of Fed Decision; Sterling Slips after CPI
Wednesday, 20 March 2024 17:25 WIB | DOLLAR Currency GBP/USD EUR/USD USD/JPY,

The U.S. dollar rose in European trade Wednesday ahead of the Federal Reserve latest policy decision, while sterling fell after signs of cooling U.K. inflation and the Japanese yen continued to retreat. At 05:55 ET (09:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% higher at 103.800, sitting near two-week highs. Fed officials conclude their policy-setting meeting later in the session, and are widely expected to keep interest rates at elevated levels as they continue to battle inflation. GBP/USD traded 0.2% lower at 1.2696, after...

Oil retreats from multi-month highs, strong dollar dents demand
Wednesday, 20 March 2024 15:06 WIB | Minyak WTI Minyak jenis Brent

Oil prices edged lower on Wednesday, as a stronger dollar curbed investor appetite while traders took some money off the table after benchmarks rallied to multi-month highs in the previous session. Brent crude futures for May fell 28 cents, or 0.3%, to $87.10 a barrel by 0711 GMT. U.S. West Texas Intermediate futures for April delivery, which expire on Wednesday's settlement, fell 47 cents, or 0.6%, to $83.00 a barrel. The more active May WTI contract was at $82.41 a barrel, down 32 cents. Weighing on Asian buyer sentiment, the U.S. dollar index climbed higher for a fifth straight session...

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PRECIOUS METALS
Silver Price Forecast: XAG/USD Holds Onto Gains Above $23 Ahead of FOMC Minutes
Wednesday, 21 February 2024 15:43 WIB

Silver price (XAU/USD) turns sideways around $23.15 after a strong recovery in the European session on Wednesday. The white metal clings to solid gains as the US Dollar has shifted to the backfoot...

ENERGY
Oil Edges Up After OPEC+ Extends Output Cuts Through Second Quarter
Monday, 4 March 2024 15:13 WIB

Oil prices ticked up slightly on Monday following the widely expected extension of voluntary output cuts by the OPEC+ producer group on Sunday. Brent futures climbed 14 cents to $83.69 a barrel at...

CURRENCIES
Yen Weakens, Nikkei Futures Climb After BOJ Maintains Policy
Tuesday, 19 December 2023 10:12 WIB

The yen weakened while stock futures climbed after the Bank of Japan maintained its key policy settings.  The currency slid 0.5% to 143.49 per dollar at 11:56 a.m. in...