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 US dollar index hovered around 98.4 on Monday, holding steady after two consecutive weeks of gains, as markets focused on key trade and economic developments. Commerce Secretary Howard Lutnick reaffirmed that August 1 is a "hard deadline" for countries to begin paying tariffs, though he emphasized that negotiations will continue until then. Traders also awaited the June reading of leading indicators, which offer insight into the broader economic outlook. On the policy front, Federal Reserve Governor Christopher Waller reiterated support for a rate cut in July, pointing to a weakening...
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band, just above the 1.3400 round figure during the Asian session. Meanwhile, spot prices remain well within striking distance of a nearly two-month low touched last week. The US Dollar (USD) remains on the back foot below the monthly peak touched last Thursday amid mixed signals about the Federal Reserve's (Fed) rate-cut path, which, in turn, is seen acting as a tailwind for the GBP/USD pair. In fact, Fed Governor Christopher Waller last week backed the case for a rate cut in July. Investors, however,...
The Japanese yen rose toward 148 per dollar on Monday, recovering some of last week's losses after the ruling coalition lost its majority in the weekend's upper house election, bringing a new wave of political uncertainty. Prime Minister Shigeru Ishiba now faces the challenge of working with the opposition, marking the first time since 1955 that the governing party has failed to hold a majority in at least one chamber of the legislature. The opposition is expected to advocate for increased government spending and tax cuts, moves that could pressure the yen and push Japanese government bond...
The Gold price ( XAU/USD) trades with mild gains near $3,350 during the early Asian session on Monday. Uncertainty around trade talks is likely to support Gold's safe-haven demand as a tariff deadline with the US looms. Traders will take more cues from the speech from Federal Reserve (Fed) Chair Jerome Powell later on Tuesday. US Commerce Secretary Howard Lutnick said on Sunday that August 1 is the deadline for countries to begin paying tariffs to the US. President Donald Trump's tariff deadline has shifted since he announced his steep levies on trading partners on April 2, but White House...
Oil was little changed after its first weekly drop this month, with the focus on trade deal progress and the European Union's efforts to curb Russian energy exports. Brent crude held near $69 a barrel after falling 1.5% last week, while West Texas Intermediate was above $67. EU envoys are set to meet as early as this week to formulate a plan for measures to respond to a possible no-deal scenario with US President Donald Trump, whose tariff negotiating position is seen to have stiffened ahead of an Aug. 1 deadline. Late last week, the 27-nation bloc agreed to a lower...
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.
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