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...
Oil prices rose in early trade on Thursday, reversing the previous session's losses, buoyed by stronger-than-expected economic data from the world's top oil consumers and signs of easing trade tensions. Brent crude futures rose 27 cents, or 0.39%, to $68.79 a barrel at 0000 GMT. U.S. West Texas Intermediate crude futures were up 31 cents, or 0.47%, at $66.69. Both benchmarks fell more than 0.2% in the previous session. U.S. crude inventories fell by 3.9 million barrels to 422.2 million barrels last week, the Energy Information Administration said on Wednesday, a steeper decline than...
Oil prices settled marginally lower on Wednesday as U.S. fuel inventory builds and concerns about wider economic impact from U.S. tariffs outweighed some signs of increasing demand. Brent crude futures settled 19 cents, or 0.3% lower, at $68.52 a barrel. U.S. West Texas Intermediate crude futures were down 14 cents, or 0.2%, at $66.38. U.S. gasoline stocks rose by 3.4 million barrels last week, the Energy Information Administration said. Analysts had expected a draw of 1 million barrels. Distillate stockpiles, which include diesel and heating oil, rose by 4.2 million barrels, EIA data...
The EUR/USD holds to earlier gains of 0.25% on Wednesday after US President Donald Trump threatened to remove the Federal Reserve (Fed) Chair Jerome Powell. This, along with a softer-than-expected inflation report on the producer side, capped the Euro's advance versus the US Dollar. At the time of writing, the pair trades at 1.1633 after bouncing off three-week lows of 1.1562. During the North American session, headlines at first suggested that Trump would sack Powell imminently. However, he later denied those rumors, though he continued to batter him, saying that Powell has been too late...
Gold price rose during the North American session by 0.78%, helped by US President Donald Trump's comments on firing Federal Reserve (Fed) Chair Jerome Powell, despite his denials of the remarks, saying it is highly unlikely to fire him unless there is fraud. At the time of writing, XAU/USD trades at 3,348 after hitting a daily peak of $3,377 on Trump's headlines. A Bloomberg article revealed that "Trump discussed the possible move in a meeting with GOP lawmakers at the White House to discuss cryptocurrency legislation," with Trump saying that almost every one of them liked the idea of...
Gold price action is reacting to another critical US inflation report on Wednesday as price action remains sensitive to shifting interest rate expectations and movements in the US Dollar. At the time of writing, the XAU/USD is above $3,350, as traders digest inflation reports and shift focus to concerns related to Fed independence. The June PPI came in softer than expected, with the monthly headline figure coming in unchanged, below forecasts of a 0.2% increase. On an annual basis, headline PPI rose 2.3%, also underperforming expectations of 2.5% and marking a decline from May's...
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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