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...
EUR/USD traded cautiously near 1.0420 in the European session on Wednesday (29/1), with investors focused on the Federal Reserve's (Fed) monetary policy announcement at 19:00 GMT. The Fed is widely anticipated to keep interest rates steady in the 4.25%-4.50% range as officials worry that the disinflationary trend towards the central bank's 2% target has stalled and the labor market has stabilized. With markets already fully pricing in the Fed leaving rates unchanged, investors will be closely watching Fed Chairman Jerome Powell's press conference after the policy decision. Investors will be...
The pound (GBP) strengthened near 1.2450 against the US dollar (USD) in the European session on Wednesday (29/1). The GBP/USD pair strengthened as the US dollar weakened as investors liquidated some risk-off trades built on concerns that China's affordable DeepSeek Artificial Intelligence (AI) models would challenge the dominance of top-tier chatbots, such as OpenAI and Meta, narrowing China's technological gap with the United States (US). The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, fell near 107.75. The greenback is also trading...
The Silver price (XAG/USD) trades with mild gains around $30.40 during the Asian trading hours on Wednesday. The uncertainty surrounding new tariff policies under US President Donald Trump's administration could provide some support to the precious metal. Later on Wednesday, all eyes will be on the Federal Reserve (Fed) meeting. The Fed interest rate decision on Wednesday will play a pivotal role in shaping the direction of Silver price. The US central bank is expected to hold its benchmark rate steady at its January meeting at its current range of 4.25%–4.50%. In December Fed Chair Jerome...
Gold prices traded around $2,765 per ounce on Wednesday, extending a slight recovery from the previous session as uncertainty over US tariffs spurred safe-haven demand. On Monday, President Trump announced plans to impose tariffs on imported computer chips, pharmaceuticals, and steel to boost domestic production. White House spokeswoman Karoline Leavitt also confirmed on Tuesday that Trump still plans to follow through with tariffs on Canada and Mexico starting February 1st and is considering new tariffs on China. Investors' focus is now set upon the Federal Reserve's first policy meeting...
Oil prices steadied in Asian trade on Wednesday after industry data showed a slightly smaller-than-expected build in U.S. inventories, although caution over trade tariffs and a Federal Reserve meeting persisted. Crude prices were nursing some losses this week as traders fretted over weak Chinese economic data, as well as concerns that U.S. President Donald Trump's plans for trade tariffs will stymie oil demand. Oil was also pressured by Trump planning for increased energy production in the U.S., while the President also called on the Organization of Petroleum Exporting Countries to...
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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