The US dollar strengthened again on Tuesday (08/07) after falling earlier in the day, as market sentiment stabilized following US President Donald Trump's executive order extending the tariff deadline to August 1 from July 9. US President Trump posted a trade warning letter on his social media platform, Truth Social, on Monday night, addressed to 14 countries, including Japan and South Korea. The letter warned of the possibility of new "reciprocal" tariffs taking effect on August 1. The news had boosted demand for the US dollar as investors turned to safe-haven assets. However, with the...
Gold fell as investors analyzed President Donald Trump's decision to delay the start of increased tariffs on some trading partners, while insisting that the new deadline is final. The precious metal fell as much as 1.5%, with investors awaiting more details on the president's approach to negotiations, following this week's move to delay the imposition of all tariffs from April 2 to August 1, effectively giving each affected country an extra three weeks to reach a deal. "Tariffs will start being paid on august 1, 2025. There has been no change to this date, and there will be none," Trump...
Oil prices held near two-week highs on Tuesday as investors assessed the latest developments in U.S. tariffs and a bigger-than-expected increase in OPEC+ output for August. Brent crude futures rose 29 cents, or 0.4%, to $69.87 a barrel by 11:07 a.m. EDT (1507 GMT), while U.S. West Texas Intermediate (WTI) crude rose 11 cents, or 0.2%, to $68.04. That put both benchmarks on track for their highest closes since June 23 for a second straight day. Major Asian economies Japan and South Korea said on Tuesday they would try to negotiate with the U.S. to soften the impact of much higher tariffs...