Brent: Geopolitical risk keeps cracks elevated – ING
ING analysts Warren Patterson and Ewa Manthey note Brent has pushed back above $95/bbl as escalating Persian Gulf tensions revive supply risk and a geopolitical premium.
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ING analysts Warren Patterson and Ewa Manthey note Brent has pushed back above $95/bbl as escalating Persian Gulf tensions revive supply risk and a geopolitical premium.

Antje Praefcke at Commerzbank highlights that markets now price nearly a 70% chance of a September Fed hike after Chair Kevin Warshs hawkish speech, but stresses upcoming US inflation data will be decisive.

Silver price (XAG/USD) recovers its early losses and rebounds to near $64.00 till the early European session on Wednesday. The white metal is broadly under pressure as surging United States (US) Treasury yields due to hawkish Federal Reserve (Fed) bets are hurting non-yielding assets.

Bank of Japan (BoJ) board member Hajime Takata said on Wednesday that the central bank needs a different response from conventional semi-annual rate hike pace.

The Indian Rupee (INR) opens flat at around 94.95 against the US Dollar (USD) on Wednesday, but is close to its two-month low of 94.80 posted the previous day.

USD/CHF gains for the second successive day, trading around 0.8130 during the Asian hours on Wednesday.

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NZD/USD gains ground for the second consecutive day, trading around 0.5840 during the Asian hours on Wednesday.

The USD/JPY pair touches a fresh high since July 31 on Wednesday, though it lacks follow-through buying and remains below 160.50 through the Asian session.

Gold (XAU/USD) drops to a nearly four-week low during the Asian session on Wednesday and is now looking to extend the fall further below $4,300 amid a bearish fundamental backdrop.

Webull is returning to the Canadian cryptocurrency market with a model that puts much of the technical machinery in the hands of Coinbase, allowing the brokerage to offer digital asset trading without building its own large scale infrastructure from scratch.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground for the second successive day and trading around 99.70 during the Asian hours on Wednesday.

CIMB Group has taken another step into Malaysia’s emerging digital capital market after completing a pilot that used tokenised deposits to settle RM1.38 billion of tokenised sukuk, giving investors a practical glimpse of how blockchain technology could reshape the mechanics of Islamic finance.

Australia is preparing to dramatically increase the maximum compensation that can be awarded for direct losses arising from a single scam, as authorities confront an increasingly sophisticated fraud industry that can stretch across banks, telecommunications companies and digital platforms.

The AUD/NZD cross builds on the better-than-expected Australian data-inspired gains and rallies to the 1.2200 mark, or the highest since July 8, after the Reserve Bank of New Zealand (RBNZ) announced its policy decision.

The NZD/USD pair tumbles to near 0.5855 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) faces some selling pressure against the US Dollar (USD) after the Reserve Bank of New Zealand (RBNZ) interest rate decision.

The GBP/USD pair declines to near 1.3510 during the early Asian trading hours on Wednesday. Ongoing tensions in the Middle East provide some support to a safe-haven currency such as the US Dollar (USD) against the British Pound (GBP). All eyes will be on the US August jobs report later on Friday.

Bank of Japan (BoJ) Governor Kazuo Ueda on Tuesday held talks with US Treasury Secretary Bessent on the sidelines of the G20, but giving no details on what was discussed.

Gold price (XAU/USD) tumbles to near a two-week low around $4,330 during the early Asian session on Wednesday. The precious metal faces some selling pressure on elevated Treasury yields and a stronger US Dollar (USD).

The Aussie Dollar retreats some 0.29% against the US Dollar on Tuesday as the escalation of the Middle East conflict boosted the Greenback due to its haven appeal. The AUD/USD trades at 0.7146.