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...
Silver price (XAG/USD) gains ground after registering losses in the previous two sessions, trading around $37.80 per troy ounce during the Asian hours on Wednesday. The safe-haven demand for Silver grows amid uncertainty from tariffs. US President Donald Trump sent notified 25 countries of new tariff rates set to take effect on August 1st, including major trading partners Canada, Mexico, and the European Union (EU). Moreover, Trump said late Tuesday that letters notifying smaller countries, including nations in Africa and the Caribbean, of their US tariff rates would go out soon, per...
The Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday, with the USD/JPY bulls now awaiting a sustained strength beyond the 149.00 mark before placing fresh bets. Investors pared their bets for an immediate interest rate hike by the Bank of Japan (BoJ) amid concerns about the economic fallout from higher US tariffs. This, in turn, has been a key factor behind the JPY's relative underperformance since the beginning of this month. Adding to this, domestic political uncertainty ahead of the House of Councillors election on...
The Australian dollar strengthened to around $0.653 on Wednesday, snapping a three-day losing streak, as investors turned their attention to Thursday's labor market data, which could provide fresh insight into the near-term policy outlook. The Reserve Bank of Australia has recently adopted a cautious, data-driven stance, citing a more balanced inflation outlook and ongoing labor market resilience. And a robust jobs report could cast doubt on the 80% market-implied probability of a rate cut at next month's meeting. Markets are currently expecting a gain of 20,000 jobs in June and an...
The U.S. dollar rose alongside 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 furnishing pulled the inflation rate higher in June, with substantial increases in prices of the heavily imported items. That pushed the dollar and bond yields higher as investors pared back expectations of Federal Reserve interest rate cuts this year. The jump in the dollar was most apparent...
Gold edged higher after a slew of tariff-related announcements from President Donald Trump signaled concerns over the impact of a potential global trade war remain, giving support to the haven asset. Bullion ticked up to about $3,330 an ounce after closing 0.6% lower on Tuesday. Trump said he had reached a deal with Indonesia, imposing 19% tariff on country. The president also said levies on pharmaceuticals were likely as soon as the end of the month, while rates on semiconductors were also looming. Meanwhile, the US opened an investigation into Brazil about its "unfair" trade...
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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