U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY WAR." According to Trump's post, the ceasefire will begin approximately six hours after his announcement, when both nations have "wound down and completed their in progress, final missions." The agreement stipulates a 12-hour initial ceasefire period initiated by Iran, followed by Israel joining the ceasefire at the 12th hour. Trump stated that upon the 24th hour, there will be an "Official END" to the...
The Silver price (XAG/USD) attracts some sellers to around $39.00 during the early European session on Friday. Optimism surrounding the US trade deal allayed trade war concerns and dampened demand for safe-haven assets. Investors will closely monitor the developments surrounding trade talks between the United States (US) and its major trade partners. The Wall Street Journal (WSJ) reported on Friday that US President Donald Trump is now pursuing dealmaking with China. Trump might shift from a strategy of pressure to negotiation, with the goal of securing an economic agreement that will...
The dollar inched off two-week lows on Friday, but kept on track for its biggest weekly drop in a month, as investors contended with U.S. tariff negotiations before an August 1 deadline, while looking ahead to central bank meetings next week. Both the U.S. Federal Reserve and the Bank of Japan are expected to hold rates at next week's policy meetings, but traders are focusing on the subsequent comments to gauge the timing of the next move. "Next week's BOJ policy meeting will be closely watched for hints on the timing of the next rate hike," said Carol Kong, currency strategist at...
Gold prices edged lower on Friday, as signs of progress in trade negotiations between the U.S. and its trading partners weighed on safe-haven demand, although an overall weaker dollar limited losses for bullion. Spot gold was down 0.2% at $3,360.68 per ounce, as of 0459 GMT. U.S. gold futures fell 0.3% to $3,363. "Basically we are seeing some profit-taking from short-term bullish speculators due to the fact that we now start to see this trade-deal optimism in the market," OANDA senior market analyst Kelvin Wong said. "However, the dollar is in a weakening bias and on top of that, we still...
Oil prices rose on Friday as trade talk optimism supported the outlook for both the global economy and oil demand, outweighing news of the potential for more oil supply from Venezuela. Brent crude futures touched a one-week high and were up 20 cents, or 0.29%, at $69.38 a barrel by 0519 GMT. U.S. West Texas Intermediate crude futures climbed 20 cents, or 0.30%, to $66.23. Oil, along with stock markets, gained support from the prospect of more trade deals between the United States and trading partners ahead of an August 1 deadline for new tariffs on goods from an array of countries. After...
The Japanese yen slipped to around 147.5 per dollar on Friday, marking its second consecutive day of losses as markets digested the implications of the new US-Japan trade agreement. The deal imposes a 15% tariff on Japanese exports to the US, significantly lower than the 25% previously threatened by Trump, providing some relief but keeping trade tensions in focus. On the economic front, Tokyo's core inflation for July came in slightly below expectations but remained well above the BOJ's 2% target, reinforcing speculation of another rate hike later this year. The BOJ will announce its policy...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
In...