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...
USD/CHF weakens to around 0.9030 in Wednesday's early European. Global geopolitical stress boosts the safe-haven flows, supporting the CHF. Fed's Daly said the central bank should keep short-term borrowing costs where they are until the progress is more visible.The USD/CHF pair softens to near 0.9030 during the early European session on Wednesday. Tension-filled negotiations on the Russia-Ukraine conflict boost the safe-haven flows, benefiting the Swiss Franc (CHF). Traders will take more cues from the FOMC Minutes, which will be published later on Wednesday. Ukraine President Volodymyr...
Gold price (XAU/USD) attracts some sellers during the Asian session on Wednesday and erodes a part of the previous day's strong move back up closer to the record high. The downtick could be attributed to some profit-taking amid a generally positive risk tone, which tends to undermine demand for the safe-haven bullion. That said, the uncertainty surrounding US President Donald Trump's tariff plans might continue to act as a tailwind for the precious metal. Meanwhile, expectations that the Federal Reserve (Fed) might cut interest rates further this year, bolstered by a surprise drop in US...
GBP/USD appreciates as the US Dollar loses ground amid lower Treasury yields.Trump shared plans to impose a 25% tariff on foreign cars, with higher duties expected on semiconductor chips and pharmaceuticals.Traders await the UK Consumer Price Index (CPI) data for fresh insights into the BoE's policy outlook.GBP/USD remains firm after losses in the previous session, trading around 1.2610 during the Asian session on Wednesday. Traders await the release of January's Consumer Price Index (CPI) data from the United Kingdom (UK) scheduled to be released later in the day. The Pound Sterling (GBP)...
The Japanese Yen gains some positive traction following an Asian session downtick. Bets for more interest rate hikes by the BoJ continue to act as a tailwind for the JPY.The divergent BoJ-Fed expectations contribute to capping the upside for USD/JPY.The Japanese Yen (JPY) attracts some buyers following an Asian session dip against its American counterpart and reverses a part of the previous day's slide amid hawkish BoJ expectations. Investors now seem convinced that the Bank of Japan (BoJ) will hike interest rates further amid signs of broadening inflationary pressures in Japan, which led to...
Australian Dollar appreciates despite fresh tariff threats from US President Donald Trump.Australia's Wage Price Index increased by 0.7% QoQ in Q4 2024, missing the expected 0.8% rise.The US Dollar loses ground as Treasury yields depreciate despite hawkish Fedspeak.The Australian Dollar (AUD) recovers its daily losses against the US Dollar (USD) on Wednesday. However, the AUD/USD pair faced challenges amid rising risk aversion following new tariff threats from US President Donald Trump.Australia's Wage Price Index increased by 0.7% quarter-over-quarter in Q4 2024, falling short of the...
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.
In...