The Pound Sterling (GBP) trades lower against its major peers on Tuesday. The British currency remains on the back foot due to the overhang of mounting fiscal risks in the United Kingdom (UK) following the presentation of a higher welfare spending bill by the Labour government before the House of Commons last week. The welfare bill announced showed an increase in the standard allowance for Universal Credit (UC), which is expected to raise the debt financial burden by £4.8 billion by fiscal year 2029-2030.. This led to investors dumping UK gilts as the bill raised financial...
Gold (XAU/USD) remains in a well-defined range between $3,320 and $3,350 at the time of writing on Tuesday, amid a looming tariff deadline and potential trade deals. US President Donald Trump's consistent tariff threats have temporarily muted demand for the yellow metal while supporting the demand for the Greenback. The president has announced new tariffs on countries, with Japan at 25% and South Korea at 30% standing out. He has also given a new deadline, August 1, instead of July 9. The yellow metal is down 0.43% intraday, and the lack of conviction reflects ongoing indecision amid...
Oil prices steadied Tuesday as investors assessed the impact of President Donald Trump's tariff hikes on key trade partners as well as lingering oversupply concerns from rising OPEC+ output. At 08:35 ET (12:35 GMT), Brent Oil Futures expiring in September rose 0.1% to $69.66 per barrel, while West Texas Intermediate (WTI) crude futures dropped 0.1% to $67.90 per barrel. Trump starts sending tariff letters; S. Korea, Japan face 25% levyU.S. President Donald Trump on Monday escalated his global trade campaign by notifying 14 countries that sharply higher tariffs will take effect on August 1....