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 US Dollar (USD) continues to face an intense selling pressure, with the US Dollar Index (DXY) sliding to near 99.50. The USD Index has extended its losing streak for the third trading day amid escalating trade war between the United States (US) and China. Last week, Donald Trump announced a 90-day pause on reciprocal tariffs on all of its trading partners, except China. The situation worsened after Trump raised reciprocal levies on China to 125% for imposing significant counter-tariffs on the US. The 90-day reciprocal tariff pause was a big relief for all associated nations, which led...
EUR/USD jumps to near 1.1400 in Monday's European session. The major currency pair aims to reclaim the over-three-year high of 1.1474, which it posted on Friday. The pair demonstrates sheer strength as the US Dollar (USD) continues to dive amid growing fears of United States (US) stagflation, a situation in which inflation increases, the economy deteriorates, and employment cools down. The US Dollar Index (DXY), which gauges the Greenback's value against six major currencies, sees more downside below the recent lows of 99.00. Financial market participants are anticipating US stagflation...
Oil prices edged higher on Monday after U.S. exclusions on some tariffs and Chinese data showing a sharp rebound in crude imports in March, but gains were capped by concerns that the trade war between the United States and China could weaken global economic growth and dent fuel demand. Brent crude futures rose by 8 cents, or 0.12%, to $64.84 a barrel by 0822 GMT. U.S. West Texas Intermediate crude was up 10 cents, or 0.16%, at $61.60. "The news about the exemptions on tariffs has helped lift sentiment across markets," said Harry Tchilinguirian, global head of research at Onyx Capital...
Gold price (XAU/USD) retreats after touching a fresh record high earlier this Monday and trades with a mild negative bias around the $3,220 area during the first half of the European session. A positive tone around the equity markets prompts some profit-taking around the precious metal amid slightly overbought conditions on the daily chart. Any meaningful corrective decline, however, still seems elusive in the wake of a sharp escalation in US-China trade tensions, which might continue to act as a tailwind for the safe-haven bullion. Meanwhile, investors now seem convinced that the Federal...
Silver prices dipped to around $32 per ounce on Monday, snapping a three-day rally as easing trade tensions reduced demand for safe-haven assets. The pullback followed US President Donald Trump's decision to exempt key technology products from his newly announced "reciprocal" tariffs, lifting global market sentiment. China's Commerce Ministry welcomed the exemptions as a "small step," while urging the US to fully remove the broader 145% levy on Chinese goods. Markets are now focused on upcoming trade negotiations between the US and major partners, including Japan, India, and South...
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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