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OPEC+ production fell short of targets by 720,000 bpd in December, with Russia and Kazakhstan contributing most to the shortfall amid ongoing disruptions. Ukrainian drone attacks on key Kazakh export terminals have sharply reduced output, suggesting that global Oil oversupply could be lower than anticipated, Commerzbank’s commodity analyst Carsten Fritsch notes. Ukrainian drone strikes disrupt Kazakh Oil output”According to the OPEC monthly report, OPEC+ Oil production in December was 42.83 million barrels per day. Countries bound by production targets produced a good 720,000 barrels per day less than agreed. A survey by S&P Global Energy came to a similar result.…
The British Pound (GBP) trades sideways against the US Dollar (USD) on Friday during the North American session, after reaching a daily high of 1.3413, but solid US data released this week capped Sterling’s advance. GBP/USD trades at 1.3380 and continues to distance from the 200-day SMA key technical level at 1.3405.Dollar supported by solid US jobs data, traders trimming Fed cut betsThis week, economic data in the US revealed that inflation on the consumer side stabilized, but not so on the producer front. Annually, the Consumer Price Index (CPI) hit 2.7% in December, unchanged from November’s print, but the…
US Dollar (USD) retreated slightly after probing yesterday its highest level since December 2, BBH FX analysts report. Dollar faces pressure despite goldilocks US data”The run of goldilocks-type US economic data – neither too hot nor too cold – continues to underpin USD, and US stocks. Still, we doubt the dollar index (DXY) will sustain a break above 100.00 because easing US inflation pressures and weak labor demand leave plenty of room for the Fed to deliver additional rate cuts.””Initial jobless claims for the week ending January 10 unexpectedly dropped under 200k to the lowest level since November, confirming there’s…
The Indian rupee slid to its worst one-day fall in nearly two months on Friday, as elevated dollar demand from importers alongside maturing positions in the non-deliverable forwards market hurt the South Asian currency.Intermittent dollar sales from state-run banks, most likely on behalf of the Reserve Bank of India, helped limit the currency’s fall, traders said.The rupee closed at 90.8650 per dollar, down 0.6% on the day to log its worst drop since mid-November last year and inching closer to its all-time low of 91.0750 hit in December. The currency was down about 0.7% week-on-week.The local currency’s weakness also contributed…
The rupee tumbled for the third straight session and lost 50 paise to settle near its lowest level at 90.84 (provisional) against the US dollar on Friday, amid rising crude oil prices and sustained outflow of foreign funds. Volatile global sentiment and a firm American currency accelerated the withdrawal of foreign institutional investors, even as domestic investors resorted to value buying, forex traders said. According to traders rupee faced pressure after data released on Thursday showed India’s trade deficit widened slightly to $25.04 billion in December 2025, compared to $24.53 billion in November and $22 billion in December 2024. At…
Silver price (XAG/USD) extends its losses for the second successive session, trading around $91.00 during the European hours on Friday. Silver price loses ground amid decreasing safe-haven demand, which could be attributed to easing concerns over geopolitical risks and Federal Reserve (Fed) independence.US President Donald Trump said he had stepped back from threats of military action after receiving assurances that further killings would not occur and executions would be halted. Market sentiment was also supported by reports that Israel and other regional allies urged Washington to delay any action, amid concerns over potential retaliation.The safe-haven demand for Silver weakens as…
The USD/JPY price analysis remains choppy despite a risk-off move in equities. Reduced odds of early Fed rate cuts amid upbeat US data keep the greenback supported. Japan’s political concerns weigh on the yen, but FX intervention warnings limit the downside. The USD/JPY price is holding in a tight 158.40–158.60 range, shrugging off a modest risk-off move in US equities. Tech led the pullback, with the Nasdaq 100 down about 1.0%, while the S&P 500 and Dow slipped less. Despite softer risk sentiment, the dollar side of the pair remains well-supported, with the Dollar Index near 99.3, close to monthly…
The rupee extended its weakening momentum for the third straight session, losing 10 paise to 90.44 against the US dollar in early trade on Friday, weighed down by relentless outflow of foreign funds and a firm greenback.Lower crude oil prices and positive equity market sentiment prevented a steep fall in the domestic currency, forex traders said.At the interbank foreign exchange, the rupee opened at 90.37 and slipped further to trade at 90.44 against the greenback, 10 paise lower than the closing level of the previous session.The rupee declined 11 paise to close at 90.34 against the US dollar on Wednesday,…
EUR/USD holds ground after three days of losses, trading around 1.1610 during the Asian hours on Friday. The 14-day Relative Strength Index (RSI) momentum indicator, currently at 35 (neutral-bearish), shows momentum skewed to the downside.The technical analysis of the daily chart shows that the EUR/USD pair holds below the nine-day Exponential Moving Average (EMA) and the 50-day EMA, underscoring a bearish bias. The short-term average slopes lower beneath the medium-term gauge, capping rebounds.The bias remains bearish while the EUR/USD pair stays below the short-term average, with downside risks focused on support near the six-week low at 1.1589, set on December…
The USD/JPY pair posts modest gains near 158.65 during the early Asian trading hours on Friday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) as US Initial Jobless Claims fall. The US December Industrial Production report is due later on Friday. Also, Federal Reserve (Fed) Governor Michelle Bowman is set to speak. Data released by the US Department of Labour (DOL) on Thursday showed that the number of Americans filing new applications for unemployment benefits unexpectedly dropped to 198K for the week ending January 10. This figure came in lower than the market consensus of 215K and was lower…