Oil prices rose on Thursday after Israel and Iran continued to exchange missile attacks overnight and U.S. President Donald Trump's stance on the conflict kept investors on edge. Brent crude futures rose 36 cents, or 0.5%, to $77.06 a barrel by 0913 GMT. U.S. West Texas Intermediate crude for July was up 54 cents, or 0.7%, at $75.68. Brent had surged to its highest in nearly five months at $78.50 on June 13, when Israel began its attacks. The conflict entered its seventh day on Thursday after Israel struck a key Iranian nuclear site and Iranian missiles hit an Israeli hospital. There is...
Gold price (XAU/USD) trades in a limited range below the round-level resistance of $3,400 during European trading hours on Thursday. The upside in the yellow metal appears to have been capped by upwardly revised interest rate target for 2026 and 2027 by the Federal Reserve (Fed) on Wednesday, following leaving them unchanged in the range of 4.25%-4.50% for the fourth straight meeting. The Fed warned of increasing upside risks to inflation due to the imposition of tariff policy by Unted States (US) President Donald Trump raised inflation target for 2026 and 2027 to 3.6% and 3.4%,...
The Pound Sterling (GBP) faces selling pressure against its major peers on Thursday as the Bank of England's (BoE) leaves interest rates steady at 4.25%. The BoE was expected to do so as it guided a "gradual and careful" stance to the monetary expansion path in the May policy meeting, following an interest rate reduction by 25 basis points (bps). Investors expected the BoE to leave borrowing rates steady at 4.25%, with a 7-2 majority. However, three Monetary Policy Committee (MPC) members: Swati Dhingra, Dave Ramsden and Alan Taylor have supported for an interest rate cut. These members...