Supply surge weighs on prices – DBS
DBS Group Research’s Philip Wee notes that Brent and WTI have fallen sharply, as markets anticipate abundant supply from the Gulf. US Treasury Secretary Scott Bessent expects Oil prices to fall below pre-conflict levels, while ongoing negotiations with Iran and the status of the Strait of Hormuz remain key uncertainties for energy markets. Brent and […]
“Inflation pressures are weighing on the economy”: Fed’s Paulson claims
Anna Paulson, President of the Federal Reserve (Fed) Bank of Philadelphia, said inflation is a drag on the United States (US) economy while discussing the economic outlook and regional trends at an event hosted by the Chamber of Commerce of Southern New Jersey on Friday. Key takeaways: Inflation pressures are weighing on the economy. Firms […]
British Pound recovers against the Japanese Yen as Bailey strikes a hawkish tone
GBP/JPY trims part of its earlier intraday losses on Friday as the British Pound (GBP) draws support from hawkish remarks by Bank of England (BoE) Governor Andrew Bailey. At the time of writing, the cross trades around 214.15 after recovering from an intraday low of 213.59. Speaking in Iceland, BoE Governor Andrew Bailey said that […]
Fed’s Bowman takes aim at Iran war
Federal Reserve (Fed) Governor Michelle Bowman said progress on lowering inflation has stalled while discussing the economic outlook and monetary policy in a speech at a conference in Iceland on Friday. Bowman claimed that the longer the Iran war continues, the greater the risks to inflation become. Key takeaways: Progress on lowering inflation has stalled. […]
Australian Dollar climbs as improving US-Iran ceasefire hopes pressure US Dollar
The AUD/USD pair advances toward the 0.7180 region on Friday as the United States (US) Dollar (USD) remains under pressure amid improving market sentiment linked to renewed hopes for a longer-lasting ceasefire agreement between the US and Iran. Investor sentiment improved after US media reports indicated that Washington and Tehran had reached a memorandum of […]
US President Trump says naval blockade will be lifted
In a post published on Truth Social on Friday, United States (US) President Donald Trump said that the naval blockade will be lifted and ships caught in the Strait of Hormuz may start the process of “heading home.” “Iran must agree that they will never have a Nuclear Weapon or Bomb. The Hormuz Strait must […]
Canadian Dollar recovers as softer US Dollar offsets pressure from weak GDP data
USD/CAD reverses its intraday gains on Friday as a softer US Dollar (USD) helps the Canadian Dollar (CAD) recover from weakness driven by softer-than-expected Gross Domestic Product (GDP) figures. At the time of writing, the pair trades around 1.3780 after rising to 1.3829 earlier in the American session. On the geopolitical front, hopes for a […]
Gold approaches $4,600 as US-Iran deal hopes pressure Oil, US Dollar
Gold (XAU/USD) extends its rebound on Friday as traders assess the prospects of a potential US-Iran deal. At the time of writing, XAU/USD trades around $4,583 after recovering from a two-month low of $4,366 touched on Thursday. Risk sentiment improved after US President Donald Trump said on Friday that “the naval blockade will now be […]
Iran rejects Trump’s Hormuz deal claims as talks near end – Fars
According to Fars news agency, the US and Iran are in the final stages of an agreement, though a final decision hasn’t been made. Fars reported on Friday that “Informed sources have rejected Trump’s new claims about a possible deal with Iran, describing his remarks as a mixture of truth and lies and an attempt […]
XAG/USD struggles for direction despite US-Iran deal hopes, softer US Dollar
Silver (XAG/USD) trades flat on Friday, failing to capitalize on improving market sentiment surrounding a potential US-Iran peace deal, even as the US Dollar (USD) slides to a two-week low. At the time of writing, XAG/USD trades around $75.60 and is on track to end the week virtually unchanged. US President Donald Trump said on […]
