Oil prices ticked up on Tuesday supported by rising geopolitical tensions as Russia and Ukraine ramped up the war and Iran was set to reject a U.S. nuclear deal proposal that would be key to easing sanctions on the major oil producer. Crude had gained nearly 3% on Monday after the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, kept its July output hike at 411,000 barrels per day, the same as earlier months and less than some in the market had feared. Brent crude futures gained 43 cents, or 0.7%, to $65.06 a barrel by 0807 GMT. U.S. West Texas Intermediate...
Gold pulled back on Tuesday after nearing a four-week high earlier in the session, as a slight rebound in the dollar and profit-taking added pressure, while investors remained cautious amid erratic U.S. trade policies. Spot gold fell 0.5% to $3,361.26 an ounce as of 0842 GMT, after hitting its highest since May 8 earlier in the session. U.S. gold futures eased 0.3% to $3,386.20. The dollar slightly rose from an over-a-month low hit earlier in the session, making gold costlier for foreign buyers. "This move (in gold) is bolstered by a weaker dollar and renewed demand for alternative...
The USD/CHF pair trades with mild gains near 0.8180 during the early European session on Tuesday, bolstered by a modest rebound of the US Dollar (USD). Nonetheless, tariff uncertainty and the persistent geopolitical tensions in the Middle East might boost the safe-haven currency like the Swiss Franc (CHF) and create a headwind for the pair. As a small and open economy, Switzerland is heavily dependent on the health of the neighboring Eurozone economies. The broader European Union is Switzerland's main economic partner and a key political ally, so macroeconomic and monetary policy stability...