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 (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades in positive territory for the second consecutive day around 97.55 during the Asian trading hours on Friday. Investors brace for the US Durable Goods Orders for June, which is due later on Friday. The Greenback holds positive ground amid mixed US economic data. Data released by S&P Global on Thursday showed that the US flash Manufacturing PMI dropped to 49.5 in July from the previous reading of 52.0. This figure came in weaker than the market consensus of...
The Australian dollar fell to around $0.658 on Friday, extending losses from the previous session as investors remained cautious ahead of key inflation data due next week. Both monthly and quarterly inflation figures are set to be released, which could play a key role in shaping the Reserve Bank of Australia's monetary policy outlook. RBA Governor Michele Bullock recently emphasized that the central bank is reluctant to cut interest rates until there is stronger evidence that inflation is sustainably returning to its 2.5% target, as she defended the RBA's slow and steady...
Gold hovered around $3,360 per ounce on Friday, following two straight sessions of losses amid easing trade tensions and rising risk appetite. Investors continue to monitor progress in tariff negotiations, with the US and EU reportedly nearing an agreement, shortly after Washington announced a separate deal with Japan. On the economic front, US jobless claims fell for the sixth straight week—the longest stretch of declines since 2022—highlighting labor market strength and reinforcing views that the Fed will hold rates steady next week. Markets are now pricing in fewer than two rate cuts...
WTI crude futures climbed above $66 per barrel on Friday, extending gains for a second session as optimism over US trade deals lifted market sentiment. Reports suggest the US and EU are nearing an agreement that would impose a 15% tariff on most EU goods, following a similar pact with Japan. Potential trade agreements with India, Mexico, and Brazil are also on the horizon. Expectations that easing trade tensions could bolster global economic growth helped ease concerns over future oil demand. On the supply side, tightening conditions in the global diesel market added further support. The...
EUR/USD weakened more than 0.20% on Thursday after solid economic data from the United States weighed on the common currency, which benefited from the European Central Bank's (ECB) decision to keep interest rates unchanged. At the time of writing, the currency pair was trading at 1.1749, after hitting a daily high of 1.1789. The US Department of Labor (DoL) reported that the number of Americans filing for unemployment benefits fell below expectations, a positive sign for a healthy labor market. However, Continuing Claims remained largely unchanged, indicating that the unemployed are...
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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