EUR/USD was almost unchanged on Tuesday during the North American session after hitting a multi-year high of 1.1830, before dropping below the 1.1800 level. The approval of US President Donald Trump's "One Big Beautiful Bill" and higher US Treasury yields limited the rise in the shared currency, which remained trading around 1.1780, flat. Recently, the US Senate passed Trump's tax bill by a 51-50 vote, with Vice President JD Vance casting the tie-breaking vote. Now the $3.3 trillion tax and spending bill heads to the US House of Representatives, which will approve the fiscal package, which...
Gold is steady in the early Asian session, underpinned by concerns over the U.S. fiscal deficit. The U.S. Senate passed President Trump's tax-and-spending megabill on Tuesday, with the bill now returning to the House of Representatives. The "bill is expected to widen the deficit by US$3.3 trillion over the next decade," Exness' Van Ha Trinh says in an email. "At the same time, uncertainty surrounding global trade persists," the financial markets strategist says. The precious metal could be supported by increasing investors' worries and uncertainty, the strategist adds. Spot gold is steady...
Oil steadied after a modest advance with tensions in the Middle East and US inventories in focus. Brent crude traded near $67 a barrel after rising 0.6% on Tuesday, with West Texas Intermediate above $65. Iran is said to be cutting off communication with key United Nations watchdog officials, deepening uncertainty over its nuclear program and adding ambiguity to its diplomatic showdown with Washington. Meanwhile, US President Donald Trump said Israel had agreed to the conditions needed for a 60-day ceasefire in Gaza. "Warfare is non-linear and any small action...