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 continues to attract safe-haven flows amid persistent worries about Trump's trade tariffs.Mostly upbeat US jobs data and inflationary concerns could allow the Fed to hold interest rates steady.A modest US Dollar strength might further contribute to capping the upside for the XAU/USD pair. Gold price (XAU/USD) kicks off the new week on a positive note and remains well within striking distance of the all-time high touched on Friday amid persistent worries about US President Donald Trump's trade policies. In fact, Trump said on Sunday that he will announce new 25% tariffs on all...
The Australian Dollar loses ground as Trump announces plans to impose a 25% tariff on all steel and aluminum imports.The AUD faced challenges as China's retaliatory tariffs on certain US exports have come into effect.The US Dollar received support as January's job report reinforced the cautious mood surrounding the Fed's policy outlook.The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) for the third consecutive day on Monday, weighed down by escalating trade war concerns. The AUD/USD pair faces downward momentum after US President Donald Trump, speaking aboard Air...
The Japanese Yen is pressured by renewed worries about Trump's trade tariffs.A modest USD strength provides a goodish lift to the USD/JPY pair on Monday. The divergent BoJ-Fed policy expectations should help limit deeper JPY losses. The Japanese Yen (JPY) attracts some sellers at the start of a new week as US President Donald Trump's tariff threats revive fears that Japan would also be an eventual target of new US levies. Apart from this, a modest US Dollar (USD) strength, lifts the USD/JPY pair to the 152.00 mark during the Asian session. Against the backdrop of the upbeat US jobs report...
Oil prices ticked higher on Monday even as investors weighed U.S. President Donald Trump's latest tariff threat, this time on all steel and aluminium imports, which could dampen global economic growth and energy demand. Brent crude futures climbed 40 cents, or 0.5%, to $75.06 a barrel by 0133 GMT while U.S. West Texas Intermediate crude was at $71.38 a barrel, up 38 cents, or 0.5%. The market posted its third consecutive weekly decline last week on concerns about a global trade war. Trump said he will announce on Monday 25% tariffs on all steel and aluminium imports into the U.S. in...
GBP/USD softens to around 1.2390 in Monday's Asian session, losing 0.14% on the day. Trump said he will announce reciprocal tariffs on many countries this week.BoE's Bailey reiterated that a "gradual and careful approach to monetary policy remains appropriate."The GBP/USD pair weakens to near 1.239 during the Asian trading hours on Monday. The US Dollar climbs after US President Donald Trump promised reciprocal tariffs. The release of the US Consumer Price Index (CPI) for January will take center stage later on Wednesday. Trump said on Friday that he would announce reciprocal tariffs on...
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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