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 pound (GBP) attracted buying interest against other major currencies on Wednesday (July 16th) following the release of higher-than-expected UK Consumer Price Index (CPI) data for June. The Office for National Statistics (ONS) reported that headline inflation rose to 3.6% year-on-year, the highest level since January 2024. Economists had expected a steady 3.4% growth. Core CPI – which excludes volatile items such as food, energy, alcohol, and tobacco – rose 3.7%, faster than expectations and the previous figure of 3.5%. On a monthly basis, headline CPI grew by 0.3%, also faster than...
The U.S. dollar drew support from elevated Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices. Rising prices on goods as varied as coffee, audio equipment and home furnishings pulled the inflation rate higher in June, with substantial increases in prices of heavily imported items. That shored up the dollar and pushed bond yields higher on Wednesday as investors pared back expectations of Federal Reserve interest rate cuts this year. Against the...
Oil prices rose on Wednesday, boosted by expectations of firm summer demand in the world's two largest consumers, the United States and China, though gains were capped by analysts' caution about the wider economy. Prices have seesawed in a tight range as signs of steady demand from an increase in travel during the Northern Hemisphere summer have competed with concerns that U.S. tariffs on trading partners will slow economic growth and fuel consumption. Brent crude futures rose 13 cents, or 0.2%, to $68.84 a barrel by 0411 GMT. U.S. West Texas Intermediate crude futures were up 25 cents, or...
Gold prices rose on Wednesday as investors digested data showing an increase in U.S. consumer prices last month and waited for further clarity on U.S. President Donald Trump's trade policy. Spot gold was up 0.4% at $3,334.12 per ounce, as of 0401 GMT. U.S. gold futures edged 0.1% higher to $3,340.90. "Gold at this moment is consolidating with a slight downward bias, especially with a stronger dollar," said Brian Lan, managing director at GoldSilver Central, Singapore. "However, many countries are still negotiating with the U.S. on the tariffs. There are still a lot of uncertainties in the...
EUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders' caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday. The Fed Beige Book and Industrial Production will also be eyed. However, the US Dollar may regain its ground as the US inflation report for June reignited concerns about prolonged high Federal Reserve (Fed) interest rates. The US Consumer Price Index (CPI) rose 2.7% year-over-year in June, matching market expectations. Core CPI came in...
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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