United States (US) President Donald Trump and Russian President Vladimir Putin concluded an initial face-to-face meeting in Alaska late Friday, with both parties delivering mutually inconclusive statements. Trump and Putin both delivered vague promises of "progress" on multiple fronts, but initial details remain light. Now, President Trump will be pivoting to hand-delivering Russia's peace proposals on Ukraine to both the Ukrainian and European Union government bodies. Key Putin highlightsMeeting has been long overdue.Ukraine situation was one of key issues.Ukraine war is a tragedy, great...
Oil extended a gain as the US cut its forecast for an oversupply, following similar moves by other market watchers including the International Energy Agency. West Texas Intermediate rose toward $67 a barrel after a modest gain on Tuesday, with Brent crude closing below $70. The Energy Information Administration slashed its prediction for a global surplus for this year and halved its outlook for a glut in 2026, citing the prospect of diminished flows from Iran and Venezuela. Elsewhere, the industry-funded American Petroleum Institute reported that US...
Gold edges higher in early Asian session, supported by fears of a global economic slowdown that could be spurred by tariffs. President Trump on Tuesday threatened to double tariffs on Canadian metals, but later rescinded the threat after Ontario province backed off of a surcharge on U.S.-bound electricity. There are growing worries over a potential economic slowdown in the U.S., FlowCommunity's Ruben Ferreira says in an email. Markets are awaiting U.S. inflation data this week, where any softer-than-expected figures might prompt the Fed to adopt a more dovish tone and consider cutting...
GBP/USD extended its recent bullish rally on Tuesday, shrugging off ongoing trade war concerns that are weighing down American market centers. Cable rose a little over one-half of one percent, clipping into the 1.2950 level for the first time in 18 weeks.US data remains the focal point for GBP/USD traders. UK economic data remains extremely limited on the data docket this week, but key US data releases are lined up one after another throughout most of this week. The US JOLTS job openings data was a bit stronger than anticipated, offering some stability to shaken markets. Job postings rose to...
The euro hit a five-month high on Tuesday after Ukraine agreed to a 30-day ceasefire proposal, while the dollar rose to a one-week high before weakening against the Canadian dollar following U.S. President Donald Trump's additional tariffs on Canada. Trump doubled his planned tariff on all steel and aluminum imports from Canada to 50% after Ontario province imposed a 25% tariff on electricity sent to the U.S. Ukraine agreed to accept an immediate 30-day ceasefire in the conflict with Russia during talks with U.S. officials in Saudi Arabia. U.S. Secretary of State Marco Rubio said he would...
The AUD/USD pair rises to near 0.6300 as the US Dollar (USD) slides due to an uncertain United States (US) economic outlook. The pair benefits from a softer Greenback as investors focus on upcoming inflation data, which could influence Federal Reserve (Fed) policy expectations. However, persistent concerns over trade tensions and global growth continue to cap upside potential for AUD/USD. Australian Dollar strengthens as US Dollar declinesThe US Dollar Index (DXY) fell to new multi-month lows near 103.20, pressured by declining bond yields and speculation about a potential US economic...