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...
Gold price is retreating from fresh all-time highs of $3,220 in early Europe on Friday. The US Dollar downward spiral and escalating trade war between the United States and China continue to underpin the safe-haven appeal of Gold price. US PPI inflation data and tariff updates remain on tap. Mounting concerns over the financial stability and the economic situation in the United States (US) have accelerated the selling interest around the US Dollar (USD), pushing Gold price for another ride higher. The US Federal Reserve's (Fed) independence has always been under threat, and on April 9 US...
EUR/USD extends its gains for the second successive day, trading near 1.1350 during Friday's Asian session. The Euro (EUR) strengthened after the European Union (EU) announced a 90-day pause on new 25% tariffs on the United States (US), aiming to create space for trade negotiations. A sudden policy reversal by the White House on Wednesday now means the EU will face a 10% duty on exports to the US until July—rather than the 20% "reciprocal tariff" that was briefly implemented. However, Trump's 25% tariffs on steel, aluminum, and cars remain in effect. Traders adjusted their expectations for...
GBP/USD is on track for its fourth consecutive daily gain, trading near 1.3030 during Friday's Asian session. The pair continues to strengthen as the US Dollar loses ground amid lingering concerns over both the global and US economies. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, has slipped to around 100.20 at the time of writing. The DXY's decline follows a surprise drop in US consumer prices for March, shifting investor focus to upcoming key data releases — the March Producer Price Index (PPI) and preliminary Michigan Consumer Sentiment,...
Silver (XAG/USD) continues its winning streak for the third straight session, trading around $31.30 during Friday's Asian session. The precious metal is gaining traction as the US Dollar weakens, with the US Dollar Index (DXY) dipping to around 100.20 at the time of writing. Investor demand for safe-haven assets like Silver is also being fueled by escalating US-China trade tensions. On Thursday, the US announced a sharp increase in tariffs on Chinese imports—raising them to 145% with a new 125% levy on top of an existing 20% duty. This move overshadowed US President Donald Trump's 90-day...
The U.S. dollar index fell to around 100 on Friday, approaching its lowest level in three years as economic concerns and fading confidence in U.S. assets continued to weigh on the currency. Investors remain wary of the potential fallout from President Trump's tariff policies, which have raised fears of slower economic growth despite a 90-day reprieve meant to allow for trade negotiations. Trump's move to raise tariffs on Chinese imports to 145% has escalated the trade war with Beijing, further denting sentiment. Meanwhile, the European Union has paused the implementation of countermeasures...
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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