Oil prices rose Wednesday after Iran suspended cooperation with the U.N. nuclear watchdog, lifting geopolitical tensions in the region. At 07:50 ET (11:50 GMT), Brent oil futures for September rose 1.2% to $67.94 a barrel, and West Texas Intermediate crude futures gained 1.3% to $66.30 a barrel. Iran suspends cooperation with UN Iran put into effect a law on Wednesday that stipulates that any future inspection of its nuclear sites by the International Atomic Energy Agency needs approval by Tehran's Supreme National Security Council. This decision comes amid growing tensions between Tehran...
Gold (XAU/USD) price is attempting to extend its recovery as traders digest Wednesday's Automatic Data Processing (ADP) employment report. With XAU/USD hovering near $3,350 at the time of writing, US President Trump's tax bill and interest rate expectations continue to drive demand for bullion. The ADP Employment Change report for June showed that the private sector contracted in June. Analysts had expected the June report to show that 95,000 jobs were added to the US private sector in May. Instead, a negative reading of 33K reflects potential weakness in the US labour market. As a...
The US Dollar (USD) is trading with a slightly positive tone on Wednesday, bouncing back a bit after hitting the lowest level since February 2022 on Tuesday. The modest rebound comes as traders digest US economic data and cautious comments from Federal Reserve (Fed) Chair Jerome Powell, which have slightly eased the downward pressure on the Greenback. Still, concerns over tariffs, fiscal policy and the Fed's next move continue to weigh on the USD broader outlook. The US Dollar Index (DXY), which measures the Greenback's performance against a basket of six major currencies, is moving...