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...
Gold prices fell in Asian trade on Thursday amid some improvement in risk appetite after U.S. President Donald Trump downplayed fears that he will prematurely fire Fed Chair Jerome Powell. Broader metal prices were also subdued amid pressure from a stronger dollar, which steadied near a three-week high following sticky inflation data for June. But haven demand for gold remained upbeat, especially amid growing uncertainty over Trump's tariffs, which are set to take effect in just over two weeks. Platinum and silver also largely maintained their outperformance over gold. Spot gold fell...
The US dollar index edged up to 98.4 on Thursday, recovering slightly after a volatile previous session that ended lower amid renewed concerns over the Federal Reserve's independence. Reports emerged overnight suggesting US President Donald Trump might fire Fed Chair Jerome Powell, though Trump later denied this, saying it was "highly unlikely." On the data front, US producer prices were unexpectedly unchanged in June, supporting the case for Federal Reserve rate cuts later this year. Investors are now awaiting retail sales data, due later today, for further insight. In trade...
The Australian dollar weakened to below $0.650 on Thursday, pulling back gains from the previous session, as weaker-than-expected labor data reinforced expectations of an RBA rate cut in August. The Australian Bureau of Statistics reported that the unemployment rate rose to an over three-year high of 4.3% in June, ending its five-month hold and exceeding forecasts of 4.1%, while employment increased by just 2K, well below the expected 20K gain. The soft labor market print added to evidence of a slowing economy, strengthening the case for policy easing. Markets are now pricing in an 89%...
The Japanese yen fell to around 148 per dollar on Thursday, as investors reacted to disappointing trade figures that fueled concerns about a potential technical recession. Japan's trade surplus narrowed to JPY 153.1 billion in June 2025, from JPY 221.3 billion a year earlier and well below market expectations of a JPY 353.9 billion surplus. Exports fell 0.5% yoy to JPY 9,162.6 billion—marking a second straight monthly decline and missing forecasts of a 0.5% gain. The drop was driven by continued pressure from the US tariff campaign, raising fears that Japan's economy may contract again in...
Gold steadied after a volatile session on Wednesday as traders assessed the outlook for Jerome Powell's tenure as Federal Reserve chair after more speculation that President Donald Trump may ax him. Bullion was below $3,350 an ounce after rising 0.7% in the previous session. The president said he's "not planning on doing anything" to remove Powell, after a White House official said Trump was likely to seek the Fed chair's ouster. Gold surged, and US stocks, the dollar and Treasury yields dropped after the initial speculation before Trump's clarification calmed markets. Still, concerns...
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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