OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
The Australian dollar (AUD) continued its gains against the US dollar (USD) on Wednesday (5/14) after posting a gain of more than 1.50% in the previous session. The AUD/USD pair strengthened as the US dollar weakened following weaker-than-expected US inflation data. The seasonally adjusted Australian Wage Price Index rose 3.4% year-on-year in Q4 2025, up from a 3.2% increase in Q4 2024 and beating market expectations of a 3.2% increase. This marked a recovery from the previous quarter, which recorded the slowest wage growth since Q3 2022. On a quarterly basis, the index rose 0.9% in Q1,...
The US dollar index held around 100.9 on Wednesday, after falling nearly 1% in the previous session, pressured by weaker-than-expected inflation data that only hinted at a limited impact from President Donald Trump's tariffs. The data released Tuesday showed headline inflation eased to 2.3% in April, the lowest level since February 2021, and slightly below market expectations of 2.4%. On the trade front, markets continued to assess the implications of a temporary lifting of US-China tariffs, which would see tariffs reduced to 30% and 10%, respectively, over a 90-day period. The easing...
Gold edged up in early Asia, supported by mild US inflation signs that support the case for further Fed rate cuts that would boost the appeal of the non-interest-bearing precious metal. Economic data released Tuesday showed CPI rose a seasonally adjusted 0.2% in April, but year-on-year CPI cooled to 2.3% last month, the lowest level in four years. Moreover, a "thinning sell-off" in the precious metal appears likely, TD Securities' Daniel Ghali said in a research note. Despite the US-China trade deal, inflows into Chinese gold ETFs continued to strengthen, the senior commodity strategist...
Oil steadied after its biggest four-day rally since October, driven by trade war optimism and U.S. President Donald Trump's increasingly hostile rhetoric on Iranian supplies. West Texas Intermediate traded above $63 a barrel after rising nearly 10% in the previous four sessions, while Brent settled near $67. Trump said during a visit to Saudi Arabia that the U.S. would put maximum pressure on Iran's energy exports if a deal is not reached on the OPEC member's nuclear program, after the State Department earlier imposed sanctions on a pipeline that helps ship the Islamic Republic's oil to...
The USD/CHF pair retraces towards the critical round-level support of 0.8400 during the North American session on Tuesday. The US Dollar (USD) faced selling pressure following the release of the United States (US) Consumer Price Index (CPI) data for April, which revealed that inflation grew at a moderate pace, coming in below market expectations. According to the US Bureau of Labor Statistics (BLS), the headline CPI rose 2.3% year-on-year in April, down from 2.4% in March and missing the 2.4% forecast. The core CPI, which excludes volatile food and energy components, remained steady at 2.8%,...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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