The Pound Sterling (GBP) extends its winning streak for the fifth trading day against the US Dollar (USD) at the start of the week. The GBP/USD pair jumps to near 1.3200 in Monday's North American session as investors have dumped the US Dollar on the tit-for-tat tariff announcement between the United States (US) and China. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, declines to near 99.00, the lowest level seen in three years. US President Donald Trump's announcement of a 90-day pause on reciprocal tariffs last week has significantly...
WTI crude oil futures hovered around $61 per barrel on Monday, fluctuating as news of potential looser restrictions on Iranian crude clashed with a temporary U.S. tariff reprieve. US-Iran nuclear talks, described as "constructive," raised hopes for higher Iranian oil exports, putting downward pressure on prices. However, OPEC revised its 2025–26 demand growth forecast down by 100,000 bpd, reflecting weaker consumption due to U.S. tariffs, though it still anticipates growth of 1.3 million bpd annually. Although President Donald Trump granted exclusions from steep tariffs on tech products...
The US Dollar Index (DXY) recovered slightly in Monday's North American session after dropping to its lowest point since 2022. Trading around the 99.60 area, the index attempted to stabilize as investors reacted to signs of rising stagflation risks. The rebound came despite fresh US Dollar (USD) selling pressure that had driven EUR/USD and GBP/USD toward multi-month highs earlier in the day. While the market saw some relief after expanded exemptions on US reciprocal tariffs, concerns over inflation, consumer sentiment, and global trade frictions continued to dominate the landscape....