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...
The Australian Dollar (AUD) continues to decline for the second consecutive day against the US Dollar (USD) on Tuesday. The AUD/USD pair's weakness can be linked to tariff threats made by US President Donald Trump. The risk-sensitive AUD also faced challenges amid increased risk aversion due to news on growing momentum among US President Donald Trump's advisers to place 25% tariffs on Mexico and Canada as soon as February 1. President Trump announced plans on Monday evening to impose tariffs on imports of computer chips, pharmaceuticals, steel, aluminum, and copper. The goal is to shift...
Gold price slid over 1% late on Monday during the North American session, sparked by a broader market sell-off spurred by interest in Chinese AI company DeepSeek. The yellow metal has failed to gain traction as US Treasury bond yields plunge, though the Greenback pared some of its losses, yet below the 108.00 figure. The XAU/USD trades at $2,738 after hitting a daily high of $2,772 Source: FXStreet
AUD/USD declined at the start of the week towards 0.6270 as US Dollar (USD) gains evaporated following signs that United States (US) friction with Colombia could be cooling. Meanwhile, the Federal Reserve (Fed) is widely anticipated to keep interest rates unchanged this week, with traders searching for any insight into policymakers' stance amid ongoing calls from President Donald Trump for immediate cuts. The Australian Dollar (AUD), however, faces headwinds ahead of the release of domestic inflation data, which will determine the Reserve Bank of Australia's (RBA) February rate decision.The...
The Dollar Index remains under heavy pressure, slipping below 108.00 and testing the critical 107.00 level.New Home Sales in December beat estimates, rising to 698,000 units versus expectations of 670,000.President Trump's tariff threats on Colombia imports and Wednesday's Federal Reserve decision add uncertainty to the Dollar's trajectory.The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, continues to slide on Monday, breaking below the psychological 108.00 mark. Concerns over AI-related market valuation, combined with geopolitical...
Oil prices fell on Monday after the U.S. dropped an initial threat of sanctions against Colombia, easing immediate concerns about oil supply disruptions, although a show of force by U.S. President Donald Trump kept markets on edge. Brent crude was down 60 cents, or 0.8%, at $77.90 a barrel by 1300 GMT. U.S. West Texas Intermediate crude was down 57 cents, or 0.8%, at $74.09. Both benchmarks fluctuated between modest gains and losses in early trading. The U.S. quickly dropped plans to impose sanctions and tariffs on Colombia after the South American country agreed to take in migrants...
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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