Minnesota Backlash Forces Tactical Retreat In Trump’s Immigration Crackdown

Political

Summary:

Mounting public outrage over two fatal shootings during immigration raids has pushed the Trump administration to scale back its aggressive enforcement presence in Minnesota...

Enforcement Pullback After Public Outcry

The Trump administration is beginning to withdraw key figures from its intensified immigration operation in Minnesota after weeks of protests and growing political fallout. Greg Bovino, a US Border Patrol commander who became the public face of the crackdown in Minneapolis, is expected to leave the city alongside some federal agents as early as Tuesday, according to local officials. His departure follows sustained backlash linked to Operation Metro Surge, which deployed thousands of immigration agents across the state.

The move reflects a clear causal relationship between public pressure and operational adjustment. While the administration has framed the withdrawal as a tactical redeployment rather than a reversal, the timing suggests that sustained outrage has made the current posture politically and operationally costly.

Fatal Shootings Intensify Scrutiny

The backlash escalated sharply after the Jan. 24 killing of Alex Pretti, a 37-year-old intensive care nurse, who was shot by a Border Patrol agent during an enforcement operation. Initial official statements claimed Pretti posed a threat, but video footage circulating online appeared to show him subdued before the shooting, undermining the credibility of those claims.

This incident followed the Jan. 7 killing of Renee Good, a Minneapolis mother of three and US citizen, by an ICE agent during a separate raid. Together, the two deaths transformed local resistance into a national flashpoint, shifting the debate from immigration control toward accountability, use of force, and constitutional limits on federal enforcement.

Political Fallout And Conflicting Narratives

Senior figures within the administration defended the operations. Trump adviser Stephen Miller characterized Pretti as a violent threat, while Homeland Security Secretary Kristi Noem said the victim attempted to obstruct law enforcement. These statements hardened opposition among local leaders and civil rights groups, deepening distrust between federal authorities and the community.

Reports suggesting Bovino had been removed from his role were denied by the Department of Homeland Security, which insisted he remained on duty. Regardless of formal status, his exit from Minneapolis marks a symbolic retreat, signaling recognition within the administration that the optics and consequences of the operation had become unsustainable.

Local Leaders Push Back On Federal Tactics

Minneapolis Mayor Jacob Frey publicly criticized the federal presence as chaotic and counterproductive. While reaffirming cooperation on serious criminal investigations, he stated the city would refuse to assist in immigration arrests he considers unconstitutional. After a phone call with Donald Trump, Frey said he would continue pressing for a full withdrawal of agents tied to the operation.

Minnesota Governor Tim Walz also described recent talks with Trump as productive, a shift from earlier confrontational exchanges. His office said the president agreed to consider independent investigations into both fatal shootings and to review the scale of federal enforcement in the state. This suggests a tentative move toward de-escalation driven by political necessity rather than ideological change.

White House Recalibrates With New Emissary

In an apparent effort to lower tensions, the White House announced it would send border czar Tom Homan to Minneapolis. Homan, a former acting director of ICE, is seen as favoring more targeted enforcement over broad street-level operations. He is expected to meet with local officials and oversee immigration actions on the ground, reporting directly to Trump.

The decision indicates recognition that the administration’s sweeping approach may have eroded public confidence, even among voters broadly supportive of immigration enforcement. The recalibration reflects correlation between declining public support and strategic adjustment, rather than a wholesale policy reversal.

Economic And National Political Pressure Builds

Opposition has extended beyond elected officials. Business leaders in Minnesota, including executives from Target Corp. and Best Buy Co. Inc., warned that the federal operation was harming worker morale and threatening economic stability. At the national level, Senate Democrats have threatened to block funding for DHS unless enforcement limits are imposed, raising the risk of a partial government shutdown.

Public opinion data reinforce the administration’s dilemma. Polls show nearly half of Americans believe the deportation campaign has become too aggressive, and even a significant share of Trump voters support the goals of enforcement while disapproving of its execution. This divergence underscores a growing gap between policy intent and public tolerance for its methods.

A Tactical Retreat, Not A Strategic Shift

The drawdown in Minnesota does not signal the end of Trump’s hardline immigration agenda. Rather, it illustrates the constraints imposed by legal scrutiny, public outrage, and political risk when enforcement actions produce civilian casualties. The administration’s response suggests a tactical retreat aimed at restoring control over the narrative and preventing further erosion of legitimacy.

Whether this recalibration leads to a more restrained national strategy remains uncertain. What is clear is that the events in Minnesota have exposed the limits of maximum-pressure immigration enforcement in democratic societies, where public consent and institutional credibility remain decisive forces.

Source: Bloomberg

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Economic

Commodity

Gold Rally Strengthens On Dollar Weakness And Risk Aversion

Gold continued to trade above the psychologically important $5,000 level for a second consecutive session, extending a powerful rally driven by a weakening U.S. dollar and growing investor unease toward traditional stores of value such as government bonds and fiat currencies. Bullion climbed as much as 1.3% on Tuesday, marking its seventh straight day of gains, while silver surged sharply alongside it.

The immediate catalyst came from renewed geopolitical uncertainty and currency market dynamics. The U.S. dollar slid to its lowest level in nearly four years amid speculation that Washington may support Japan in stabilizing the yen, reducing the dollar’s appeal and mechanically lowering the cost of dollar-denominated gold for non-U.S. buyers. This relationship is causal rather than coincidental, as a softer dollar directly enhances gold’s relative attractiveness across global markets.

Debasement Trade Reasserts Itself

Gold’s recent performance highlights its historic role as a barometer of financial stress. The metal has more than doubled over the past two years and is already up roughly 17% year to date, following its strongest annual gain since 1979. This surge has been closely tied to the debasement trade, where investors move away from currencies and sovereign debt amid concerns over fiscal sustainability and monetary credibility.

A sharp selloff in the Japanese government bond market has reinforced this narrative. Investors have reacted to heavy fiscal spending and rising yields by reducing exposure to sovereign debt, pushing capital toward assets perceived as immune to political and monetary manipulation. The correlation between bond market instability and gold inflows has become increasingly pronounced during this cycle.

Geopolitical Shocks Add Momentum

Political risk has added further fuel to the rally. Recent actions and rhetoric from Donald Trump, including renewed tariff threats against South Korea and earlier warnings toward Canada over trade with China, have unsettled markets. These developments follow prior episodes involving Greenland and Venezuela that already strained investor confidence in global political stability.

Such shocks do not directly cause gold prices to rise in isolation, but they intensify uncertainty around trade, diplomacy, and policy continuity. This environment increases demand for hedging assets, reinforcing gold’s upward momentum through a strong correlation with global risk aversion.

Speculative Positioning And Volatility Signal Conviction

Market data suggest the rally is being reinforced by strong speculative conviction. Options traders are positioning for further upside, and implied volatility on Comex gold futures has climbed to its highest level since the peak of the Covid-19 crisis in March 2020. Volatility in SPDR Gold Shares, the world’s largest bullion-backed exchange-traded fund, has also broken higher, reflecting expectations of sustained price swings rather than an imminent reversal.

According to analysts, market behavior shows that investors are increasingly buying price pullbacks instead of fading rallies, a pattern that typically characterizes late-stage but still powerful momentum phases. As long as this mindset holds, near-term downside appears limited even if prices temporarily diverge from traditional valuation metrics.

Monetary Policy Outlook Remains Supportive

Looking ahead, attention is turning to leadership changes at the Federal Reserve. Trump has indicated he has completed interviews for the next Fed chair, raising speculation that a more dovish appointment could accelerate expectations for further interest rate cuts later this year. Lower rates tend to support non-yielding assets like gold by reducing the opportunity cost of holding them.

In the immediate term, however, the Fed is widely expected to pause its rate-cutting cycle at its policy meeting on Wednesday, as labor market conditions stabilize. Even so, the broader monetary trajectory remains supportive for bullion if confidence in fiat currencies continues to weaken.

Precious Metals Reflect A Broader Shift

By mid-morning in Asia, gold traded around $5,063 per ounce, while silver surged to nearly $110 after briefly touching an all-time high above $117 in the previous session. Platinum and palladium also advanced, underscoring a broader move into hard assets.

Taken together, gold’s sustained strength above $5,000 reflects more than short-term speculation. It signals a deeper reassessment of currency credibility, fiscal discipline, and geopolitical stability. As long as doubts persist across these fronts, the debasement trade is likely to remain a dominant force shaping precious metals markets.

Source: Bloomberg

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Gold continued its upward trend on Tuesday, building on momentum that pushed it past the US$5,100 mark for the first time in the previous session. The rally is fueled by strong safe-haven demand as investors navigate growing geopolitical uncertainty and a weakening U.S. dollar.

Spot gold climbed 1.1% to US$5,068.05 per ounce, after hitting a record high of US$5,110.50 a day earlier. Meanwhile, U.S. gold futures for February delivery saw a 0.4% increase, trading at US$5,063.0 per ounce.

Dollar Weakness and Trade Disputes Bolster Gold

A primary driver behind gold's ascent is the U.S. dollar, which is lingering near a four-month low. The dollar's weakness is compounded by domestic issues, including the possibility of a government shutdown and unpredictable policymaking. A weaker greenback makes gold, which is priced in dollars, more affordable for international buyers.

Adding to market anxiety are escalating trade tensions. On Monday, U.S. President Donald Trump announced plans to raise tariffs to 25% on South Korean imports, including autos, lumber, and pharmaceuticals, citing frustrations over a trade deal. This move followed threats of tariffs against Canada, even as relations between the two countries were changing, underscored by Prime Minister Mark Carney's visit to China earlier in the month.

Federal Reserve Policy and Leadership in Focus

Investors are also closely watching the Federal Reserve, which is expected to keep interest rates unchanged at its upcoming monetary policy meeting. However, the central bank is operating under a cloud of political pressure.

The situation is complicated by a criminal investigation into Fed chief Jerome Powell by the Trump administration, an ongoing effort to remove Fed governor Lisa Cook, and the approaching nomination of Powell's successor in May. This backdrop of instability is contributing to the uncertain economic outlook driving investors toward gold.

Mining Sector Heats Up with Major Acquisition

The record-high gold prices are directly impacting the mining industry, boosting profit margins and encouraging consolidation.

In a sign of this trend, Zijin Gold announced it will acquire Canada's Allied Gold for approximately C$5.5 billion (US$4.02 billion) in cash. The deal highlights the Chinese mining company's push for global expansion as it capitalizes on the favorable market conditions.

How Other Precious Metals Are Faring

The rally is not limited to gold, with other precious metals seeing significant price movements.

• Silver: Spot silver jumped 6.3% to US$110.39 an ounce, a day after reaching a record high of US$117.69. The metal has gained an impressive 55% so far this year.

• Platinum: After hitting a record of US$2,918.80 in the prior session, spot platinum fell back 2.5% to US$2,688.12 per ounce.

• Palladium: The metal saw a slight increase of 0.1%, rising to US$1,980.50.

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Rate Check Sends Strong Signal But Stops Short Of Intervention

The yen’s recent rebound was sparked by an unusual rate check conducted by the New York Federal Reserve, a move widely interpreted as a signal of closer coordination between Japanese and U.S. authorities. The action pushed the yen away from 18-month lows and lowered the perceived threshold for market intervention, offering temporary relief to policymakers concerned about the inflationary effects of a persistently weak currency.

Despite the market reaction, analysts caution that a rate check should not be confused with imminent joint action. Historically, coordinated intervention has been reserved for exceptional circumstances such as financial crises or major natural disasters. As JPMorgan strategist Junya Tanase noted, the distance between rate checks and full-scale coordinated intervention remains substantial.

Political Alignment Exists But Policy Limits Persist

The Fed’s move did not occur in isolation. It followed years of diplomatic effort by Japan to secure U.S. backing for intervention against excessive currency volatility, culminating in a bilateral statement signed last year. Japanese Finance Minister Satsuki Katayama has repeatedly emphasized alignment with U.S. Treasury Secretary Scott Bessent on currency issues, reinforcing the perception of shared concern over disorderly market moves.

However, alignment on rhetoric does not automatically translate into action. Domestic considerations in the United States significantly constrain the scope for coordinated dollar selling. U.S. officials appear willing to support Japan through signaling mechanisms such as rate checks, but remain reluctant to engage in measures that could materially weaken the dollar or disrupt U.S. financial markets.

Market Impact Reflects Fear More Than Action

For now, the threat of intervention alone has proven effective. The yen strengthened to a two-month high near 153.89 per dollar, well above levels around 160 that markets view as a line in the sand for intervention. Japanese government bond yields also eased modestly, helping contain spillover risks into U.S. Treasury markets.

This reaction underscores a causal relationship between policy signaling and market behavior. Expectations of action, even without execution, can stabilize currency markets in the short term. Yet this effect tends to fade unless reinforced by concrete measures.

Washington’s Reluctance To Sell Dollars

From the U.S. perspective, coordinated intervention presents several drawbacks. Sustained yen-buying would require Japan to sell part of its U.S. Treasury holdings, potentially pushing up U.S. yields at a time when markets remain sensitive to funding costs. Moreover, further dollar weakness could revive the so-called “Sell America” trade, something Washington is keen to avoid amid concerns about global de-dollarization.

Analysts at Mitsubishi UFJ Morgan Stanley Securities argue that even if the U.S. were to cooperate in a limited intervention, it would be unlikely to reverse a five-year downtrend in the yen. Any cooperation would therefore be tactical rather than transformational.

G7 Protocol And Historical Constraints

Even with U.S. backing, Japan faces procedural hurdles. Under established protocol, Tokyo would need to consult with other G7 nations before entering the market. The last coordinated G7 intervention on the yen occurred in 2011 following Japan’s earthquake and tsunami, a context fundamentally different from today’s policy driven currency weakness.

Former Japanese finance minister Yoshihiko Noda has emphasized that current yen depreciation reflects market concerns over fiscal policy and interest rate differentials rather than an exogenous shock, raising the bar for multilateral action.

Bank Of Japan Caught Between Yen And Yields

The Bank of Japan remains constrained by conflicting objectives. On one hand, it must prevent excessive yen weakness that fuels imported inflation. On the other, aggressive signaling or intervention risks pushing up bond yields, undermining financial stability.

Governor Kazuo Ueda has acknowledged that long-term rates are rising quickly, yet has avoided committing to emergency bond buying or adjustments to tapering plans. This deliberate ambiguity reflects the delicate balance policymakers are trying to maintain.

As analysts at ANZ note, aggressive bond buying to cap yields would likely weaken the yen further, counteracting efforts to stabilize the currency. Combined with domestic political pressure for tax cuts, these dynamics continue to bias the yen toward weakness.

Stability Without Resolution

The latest rate check has calmed markets, but it has not resolved the structural forces weighing on the yen. While Japan and the U.S. appear aligned in their desire to prevent disorderly moves, the political, financial, and institutional hurdles to coordinated intervention remain high.

For now, markets are likely to remain driven by expectations rather than action. Without a clear catalyst such as a crisis or extreme volatility, coordinated yen intervention looks more like a contingency plan than an imminent policy choice.

Source: Reuters

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[Quick Facts]

1. Zelenskyy: Ukraine, the U.S., and Russia may hold Trilateral Talks again on February 1st.

2. Trump: Tariffs on some South Korean goods to be raised to 25%.

3. U.S. may demand Japan increase defense spending to 5% of GDP.

4. Poll shows Trump's immigration policy approval hits a new low during his current term.

5. U.S. November Durable Goods Orders post largest gain in six months.

6. U.S. natural gas prices break the $7 mark, and some spot prices surge past $200.

[News Details]

Zelenskyy: Ukraine, the U.S., and Russia may hold Trilateral Talks again on February 1st

In a video address on the evening of January 26th, Ukrainian President Volodymyr Zelenskyy said that Ukraine, the United States, and Russia may hold trilateral talks again on February 1st. He noted that teams had discussed resuming talks this past Sunday and expressed hope that progress could be accelerated to make such a meeting happen sooner.

Trump: Tariffs on some South Korean goods to be raised to 25%

On social media, Trump stated that trade agreements are vital for the United States. In every agreement, the United States acts swiftly to reduce tariffs per established terms. Naturally, he expects trading partners to do the same. "South Korea's Legislature is not living up to its Deal with the United States," Trump said. "Because the Korean Legislature hasn't enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15% to 25%."

U.S. may demand Japan increase defense spending to 5% of GDP

According to Kyodo News, the U.S. Department of Defense recently announced that Deputy Secretary of Defense Elbridge Colby will visit Japan and may directly urge Tokyo to raise defense spending as a share of GDP to 5%. Japanese media reported that last June, the U.S. government proposed increasing Japan's defense spending ratio to 3.5%, but Japan at the time found it difficult to agree.

However, since Takaichi Sanae took office last October, Japan has rapidly pushed to achieve a 2% defense spending target two years ahead of schedule. This approach, prioritizing military expansion over public welfare, has drawn criticism from various sectors in Japan.

Poll shows Trump's immigration policy approval hits a new low during his current term

Based on a new poll released on January 26th, President Trump's public support on immigration issues has fallen to its lowest level since taking office. Most respondents believe his administration has gone too far in immigration enforcement. Only 39% of American adults approve of Trump's handling of immigration, down from 41% earlier this month. 53% respondents disapprove.

By contrast, immigration was once a relative strength early in his term, and support reached 50% in February last year. The poll also found that about 58% of respondents think U.S. Immigration and Customs Enforcement (ICE) actions have gone too far. Among Democrats, roughly 90% see enforcement as excessive, while about 60% of independent voters share that view. Overall, Trump's job approval rating stands at 38%, matching his lowest point during this term and below the 41% recorded in the January 12–13 poll.

U.S. November Durable Goods Orders post largest gain in six months

U.S. durable goods orders in November 2025 recorded their biggest monthly rise in six months, driven mainly by orders for commercial aircraft and other capital equipment. According to the U.S. Commerce Department, durable goods orders rose 5.3%, following a revised decline of 2.1% the previous month. Data released Monday also showed that core capital goods orders excluding aircraft and military equipment, an indicator of business equipment investment, rose 0.7% month-on-month, beating expectations.

U.S. natural gas prices break the $7 mark, and some spot prices surge past $200

Reports indicate that severe cold weather across much of the U.S. has sharply increased heating demand while supply disruptions occurred, pushing natural gas prices higher. At 12:45 p.m. Eastern Time on Monday, the front-month natural gas futures contract broke above $7 per million British thermal units (MMBtu), the first time since 2022, rising 40% from Friday's close.

Meanwhile, traders reported spot prices at Louisiana's Henry Hub delivery point spiked to as high as $53/MMBtu. In the frigid Northeast, spot prices at the Iroquois Zone 2 hub exceeded $200/MMBtu. The winter storm is estimated to disrupt about 12% of U.S. natural gas production. Traders are closely watching how long these output interruptions will persist.

[Today's Focus]

UTC+8 22:00 U.S. November FHFA House Price Index (MoM)

UTC+8 23:00 U.S. January Conference Board Consumer Confidence Index

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George Anderson

Energy

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After two decades of flat electricity demand, artificial intelligence has appeared as both a massive opportunity and a potential crisis for the US power industry. The surge in energy consumption from AI and data centers dominated the conversation at the annual BloombergNEF summit in San Francisco, revealing deep concerns about cost, infrastructure, and policy.

The data center boom is already a powerful force in the American economy, influencing local elections in New Jersey, Virginia, and Georgia last November. Its growing impact is now expected to be a significant factor in this fall's congressional midterms.

Here are five key issues shaping the intersection of AI and the nation's power grid.

Who Foots the Bill for AI's Energy Boom?

As energy affordability becomes a major concern, data centers face growing pressure to cover the costs of their immense power needs without passing the burden onto the public.

"Consumers may end up holding the bag," warned Amory Lovins, co-founder and chairman emeritus of RMI.

Ryan Wiser, a senior scientist at Lawrence Berkeley National Laboratory, argued that since data centers are the primary driver of rising utility costs, "they also need to be the ones to cover that."

In response, President Donald Trump and a group of governors from the Northeast and Mid-Atlantic have proposed an emergency wholesale electricity auction. This plan would compel tech companies to fund the construction of new power plants, aiming to both secure the energy data centers need and control rising utility bills for everyone else.

The Nuclear Option: Clean Power on a Slow Timeline

Tech companies have been clear about their preferred energy source: nuclear power. Valued for its ability to provide clean, reliable, round-the-clock electricity, it has attracted major investment. Meta Platforms Inc. has made significant deals with nuclear startups, and Microsoft Corp. has spearheaded efforts to restart a closed power plant.

Despite this enthusiasm, the reality on the ground is stark. Not a single new small modular reactor (SMR) has been built in the US, and only one design has received approval from the US Nuclear Regulatory Commission. A traditional nuclear plant takes roughly a decade to bring online—a timeline completely out of sync with the rapid growth of AI.

The core challenge remains unchanged. The question, according to BNEF analyst Musfika Mishi, is whether reactors can "be built on time, on budget and actually be competitive with natural gas." Currently, nuclear energy in the US is three times more expensive than natural gas. While SMR developers promise to lower costs, it remains to be seen if they can deliver.

How Big is the AI Power Bubble?

Beyond the debate over which technology is best, a more fundamental uncertainty looms: just how much electricity will AI actually require?

Forecasts for data center demand vary dramatically. PJM Interconnection, the operator of the largest US grid, recently revised its 2027 summer forecast downward after analyzing connection requests more closely. However, the overall trend is one of explosive growth.

• BNEF projects US data center demand will reach around 400 terawatt-hours by 2030.

• Other forecasts are far more aggressive, with some predicting demand could exceed 1,000 terawatt-hours by the end of the decade.

Lovins cautioned investors to consider the significant financial risks of building a fleet of new natural-gas power plants based on these projections. He pointed to the possibility that data centers could become much more energy-efficient or that the AI boom itself could deflate.

"Demand uncertainty and financial risk rise deeply when artificial intelligence meets natural stupidity," Lovins said.

Conflicting Signals in US Energy Policy

The Trump administration's energy policy has been marked by contradictions. While the president has pushed for a data center boom that requires vast amounts of new energy, he has also made it more difficult to build wind power projects.

Simultaneously, the US withdrawal from multiple climate agreements has allowed China to extend its already dominant lead in clean technology. Former Energy Secretary Jennifer Granholm described this as a major problem.

"Our economic competitors like China are so happy that the US has pulled back," she stated.

A Look Ahead: Lessons from Past Policy Shifts

Reflecting on her time in the Biden administration, Granholm recalled overseeing the allocation of tens of billions of dollars in loans and grants for clean technologies like hydrogen and carbon removal. Much of that funding was later reversed or eliminated by the Trump administration.

Granholm believes Democrats should learn from this aggressive approach when pursuing their own clean energy agenda.

"The cancellation of all of these loans and grants was stunning to a lot of people who had worked on those because we thought we had commitments, we had obligations," she said. "Had we known that there would be such a slash-and-burn mentality about it, I think we would've done things differently."

Her advice to the next Democrat in the White House was simple: "Don't be afraid to break some eggs."

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Dark Current

Energy

Commodity

Daily News

Oil prices edged lower on Tuesday, defying a major supply disruption as a massive winter storm swept across the United States, impacting both crude production and refinery operations.

Brent crude futures registered a 0.4% decline, falling 28 cents to US$65.31 a barrel by 0145 GMT. Similarly, US West Texas Intermediate (WTI) crude dropped 24 cents, or 0.4%, to trade at US$60.39 a barrel.

US Winter Storm Halts Oil Production

The price dip comes as a severe winter storm strained energy infrastructure across the US. According to analysts and traders, the extreme weather knocked out up to two million barrels of daily crude production over the weekend, accounting for roughly 15% of the nation's total output.

The freezing conditions also created significant operational issues for several refineries located along the US Gulf Coast. Daniel Hynes, an analyst at ANZ, noted that these disruptions have raised concerns about potential fuel supply shortages.

Global Supply Factors in Play

Beyond the immediate weather impact, traders are also watching geopolitical and policy developments that could influence the market.

Middle East Tensions Add Risk

Supply risks in the Middle East remain a key factor. According to two US officials, an American aircraft carrier and its supporting warships arrived in the region on Monday. This deployment expands President Donald Trump's military capabilities to either defend US forces or take potential action against Iran.

"Supply risks haven't totally evaporated," said Hynes, adding that "Tension in the Middle East persists after President Trump dispatched naval assets to the region."

OPEC+ Poised to Hold Production Steady

Meanwhile, key members of the Organization of the Petroleum Exporting Countries and their allies (OPEC+) are expected to maintain their current pause on oil output increases for March.

Three OPEC+ delegates indicated that the decision is likely to be confirmed at a meeting on February 1. The group's stance is supported by rising oil prices, which have been partly driven by a recent drop in Kazakhstan's oil production.

The eight OPEC+ members participating in the meeting are:

• Saudi Arabia

• Russia

• UAE

• Kazakhstan

• Kuwait

• Iraq

• Algeria

• Oman

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Minnesota Backlash Forces Tactical Retreat In Trump’s Immigration Crackdown

Enforcement Pullback After Public Outcry

Fatal Shootings Intensify Scrutiny

Political Fallout And Conflicting Narratives

Local Leaders Push Back On Federal Tactics

White House Recalibrates With New Emissary

Economic And National Political Pressure Builds

A Tactical Retreat, Not A Strategic Shift

Source: Bloomberg

Gold Pushes Beyond $5,000 As Currency And Bond Confidence Erodes

Gold Rally Strengthens On Dollar Weakness And Risk Aversion

Debasement Trade Reasserts Itself

Geopolitical Shocks Add Momentum

Speculative Positioning And Volatility Signal Conviction

Monetary Policy Outlook Remains Supportive

Precious Metals Reflect A Broader Shift

Source: Bloomberg

Gold Prices Surge as Geopolitical Tensions Mount

Dollar Weakness and Trade Disputes Bolster Gold

Federal Reserve Policy and Leadership in Focus

Mining Sector Heats Up with Major Acquisition

How Other Precious Metals Are Faring

Yen Stabilization Signals Mask High Bar For Japan–U.S. Coordinated Intervention

Rate Check Sends Strong Signal But Stops Short Of Intervention

Political Alignment Exists But Policy Limits Persist

Market Impact Reflects Fear More Than Action

Washington’s Reluctance To Sell Dollars

Bank Of Japan Caught Between Yen And Yields

Stability Without Resolution

Source: Reuters

Durable Goods Orders Rebound, Natural Gas Prices Experience Sharp Volatility

[Quick Facts]

[News Details]

[Today's Focus]

AI's Power Thirst: A Threat to the US Grid?

Who Foots the Bill for AI's Energy Boom?

The Nuclear Option: Clean Power on a Slow Timeline

How Big is the AI Power Bubble?

Conflicting Signals in US Energy Policy

A Look Ahead: Lessons from Past Policy Shifts

Oil Prices Slip Despite Major US Supply Shock

US Winter Storm Halts Oil Production

Global Supply Factors in Play

Risk Disclosure