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 Japanese Yen (JPY) remained firmer against its peers for the third straight day, despite the lack of follow-through amid faltering expectations for a Bank of Japan (BOJ) rate hike. Widespread inflationary pressures in Japan keep the case for the next BOJ rate hike in January or March open. That said, some investors expect the BOJ to wait until April to seek confirmation that the strong wage momentum will continue into spring negotiations. This, in turn, is holding back JPY investors from placing aggressive bets. Further, the recent widening in the US-Japan yield differential,...
Gold (XAU/USD) prices reversed a modest Asian session decline to the $2,679 area and is currently trading just below a one-month high touched on Friday, though the upside seems limited. The upbeat US Nonfarm Payrolls (NFP) report reinforced market expectations that the Federal Reserve (Fed) will pause its interest rate-cutting cycle later this month. This, coupled with persistent geopolitical risks, dampened investors' appetite for riskier assets, which was evident from a softer tone around equity markets and acted as a tailwind for the safe-haven precious metal. Meanwhile, hawkish Fed...
Gold price (XAU/USD) attracts some sellers during the Asian session on Monday and for now, seems to have snapped a four-day winning streak to the $2,700 neighborhood, or a one-month high touched on Friday. The upbeat US Nonfarm Payrolls (NFP) report reinforced market expectations that the Federal Reserve (Fed) will pause its rate-cutting cycle later this month. This keeps the US Treasury bond yields elevated near their highest level in over a year and the US Dollar (USD) near a two-year peak, which, in turn, exerts some pressure on the non-yielding yellow metal. Meanwhile, hawkish Fed...
Oil prices jumped on Friday as the U.S. Treasury Department announced sweeping sanctions against Russia's oil industry. Brent gained $2.84, or 3.69%, to close at $79.76 per barrel, while U.S. crude oil advanced $2.65, or 3.58%, to settle at $76.57 per barrel. The benchmarks closed at their highest levels since October. The sanctions target Russian oil companies Gazprom Neft and Surgutneftegas and their subsidiaries, more than 180 tankers, and more than a dozen Russian energy officials and executives. The sanctioned executives include Gazprom Neft CEO Aleksandr Valeryevich Dyukov. The...
Gold (XAU/USD) price traded with slight losses near $2,690 against the broadly stronger US Dollar (USD) during the early Asian session on Monday (13/1). However, safe-haven demand due to uncertainty surrounding the policies of President-elect Donald Trump's administration could help limit Gold's decline. A stronger-than-expected US employment data on Friday reinforced expectations that the US Federal Reserve (Fed) may not cut interest rates aggressively this year. This, in turn, weighed on non-yielding assets. Traders expect the Fed to cut interest rates by only 30 basis points (bps) this...
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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