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 steadied in Asian trading — after blowing through a series of record highs in the previous session — with rising economic and geopolitical risks supporting haven demand. Bullion held near $2,870 an ounce — having added 0.9% on Wednesday — after President Donald Trump said the US could take over Gaza, a comment that his aides sought to tone down, and that he wants to start working on a new nuclear deal with Iran. Washington is also expected to present a plan to end Russia's war on Ukraine next week. Worries about the fallout from the US-China trade...
The Australian Dollar (AUD) edges lower against the US Dollar (USD) following lower-than-expected Trade Balance data released on Thursday. Additionally, the AUD/USD pair receives downward pressure from risk-off sentiment amid rising fears over US-China trade tensions. Australia's trade surplus fell to 5,085M in December, missing the expected 7,000M and down from the previous surplus of 6,792M. Exports increased by 1.1% MoM, slowing from November's 4.2% rise, while imports surged 5.9% MoM, up from 1.4% in the prior month. Traders closely watch the ongoing trade war between the United States...
Oil steadied near the lowest this year as President Donald Trump's geopolitical positions and threats of tariffs on energy weighed on the outlook. West Texas Intermediate traded above $71 a barrel after falling 2.3% on Wednesday to cancel out all year-to-date gains, while Brent crude closed below $75. China is set to impose retaliatory tariffs on the US from Monday, igniting a trade war that could hurt global growth, while the US leader's proposal to take over Gaza was widely condemned. Investors have pulled out of crude and fuel markets since Trump's inauguration,...
USD/CHF loses ground as the US Dollar weakens for the third consecutive session on Wednesday.Safe-haven demand for the Swiss Franc rises due to escalating US-China trade tensions.Traders await Thursday's Swiss Unemployment Rate to gain further insight into the labor market.USD/CHF continues its decline for the second straight day, trading near 0.9030 during European hours on Wednesday. This downturn is primarily driven by a weaker US Dollar (USD), which is undergoing a technical correction. The US Dollar Index (DXY), which tracks the USD against six major currencies, remains under pressure...
DXY remains under pressure, testing 107.35 support despite upbeat ADP and S&P Global PMI data.ISM Services PMI disappoints, signaling weaker-than-expected service sector growth and moderating price pressures.US 10-year yield rebounds, hovering around 4.40% after touching a yearly low.The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of currencies, struggled to recover losses on Wednesday and declined against most major peers. Despite stronger than expected ADP Employment and S&P Global PMI data, the ISM Services PMI fell short of forecasts, casting doubt...
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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