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...
Silver (XAG/USD) prices moved higher after a recent decline, trading around $32.30 per troy ounce during the Asian session on Wednesday (4/16). The rise came as lingering uncertainty over US trade policy continued to fuel safe-haven demand for the precious metal. A weaker US Dollar (USD) also supported Silver prices, making the dollar-denominated asset more attractive to foreign buyers. The US Dollar Index (DXY), which measures the Greenback against a basket of six major currencies, was trading lower near 99.80 at the time of writing. Market attention now turns to the upcoming US Retail...
The Australian dollar (AUD) continued its uptrend against the US dollar (USD) for the sixth straight session on Wednesday (16/4), with the AUD/USD pair holding firm after the release of the Westpac Leading Australia Index. The index's six-month annualized growth rate, which estimates economic momentum relative to trend over the next three to nine months, eased to 0.6% in March from 0.9% in February. China's economy grew at an annualized rate of 5.4% in the first quarter of 2025, matching the pace seen in Q4 2024 and beating market expectations of 5.1%. On a quarterly basis, GDP rose by 1.2%...
Oil prices were flat on Wednesday morning, as changes in U.S. trade policy fueled uncertainty as markets assessed the potential impact of the U.S.-China trade war on economic growth and energy demand. Brent crude futures rose 5 cents, or 0.1%, to $64.72 a barrel by 0039 GMT, while U.S. West Texas Intermediate crude futures rose 3 cents, or 0.1%, to $61.36. Both benchmarks fell 0.3% on Tuesday. Global oil demand is expected to grow at its slowest rate in five years in 2025 and U.S. production growth is also set to ease, due to U.S. President Donald Trump's tariffs on trading partners and...
The GBP/USD pair continued its uptrend that began on April 8, trading around 1.3250 during the Asian session on Wednesday (4/16). Earlier in the day, the pair touched a fresh six-month high of 1.3256. The pair has maintained its strong momentum, boosted by improving global risk sentiment after US President Donald Trump announced exemptions for major technology products from his new "reciprocal" tariffs. In the UK, labor market data showed on Tuesday that the unemployment rate held steady at 4.4% in February, in line with expectations. However, wage growth remained strong, maintaining...
The Japanese Yen (JPY) regained some ground after a modest decline the previous day as trade-related uncertainties kept investors on the sidelines and continued to favor traditional safe-haven assets. Additionally, data released today showed that Japan's core machine orders rose sharply in February, beating market expectations. This, coupled with hopes that Japan will reach a trade deal with the US and growing acceptance that the Bank of Japan (BOJ) will continue to raise interest rates in 2025, turned out to be another factor supporting the JPY. Meanwhile, the hawkish BOJ expectations...
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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