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...
Brent crude rose to $74.50 a barrel on Tuesday, extending gains for a third straight session, boosted by signs of economic recovery in China, the world's largest crude importer. Chinese factory activity expanded for a third month, boosted by recent stimulus measures. However, despite the current momentum, Brent is on track for a slight annual loss after months of trading in a narrow range. Looking ahead, the market faces significant uncertainties, including the risk of oversupply, geopolitical tensions and potential changes in oil policy under the incoming Trump administration. Source:...
Gold prices rose above $2,600 an ounce on Tuesday, marking one of its strongest annual performances since 2010 with a 26% gain in 2024. The surge has been driven by U.S. monetary easing, ongoing geopolitical tensions and record central bank purchases. Despite a slight dip following Donald Trump's election victory in November, gold's annual gains have outpaced most other commodities, including a mixed year for base metals and sharp declines in iron ore and lithium. Looking ahead to 2025, investors are weighing the impact of U.S. monetary policy uncertainty, potential challenges under a Trump...
USD/JPY extends its decline for the third straight session on New Year's Eve, trading around 156.20 during early European hours on Tuesday. However, the Japanese Yen (JPY) is heading for a more than 10% decline in 2024, marking the fourth consecutive year of weakness against the US Dollar (USD). The decline in the USD/JPY pair was driven by a rise in the Japanese Yen (JPY) as traders continued to assess market sentiment that the Bank of Japan (BOJ) might hike interest rates in January following the release of the Tokyo Consumer Price Index (CPI) inflation data last week. Source: FXStreet
The Australian Dollar (AUD) remained sluggish against the US Dollar (USD) following the release of mixed NBS Manufacturing Purchasing Managers' Index (PMI) data from China on Tuesday. As a close trading partner, any fluctuations in the Chinese economy tend to affect the Australian market. China's official Manufacturing PMI slipped to 50.1 in December, down from 50.3 in the previous reading and below market expectations of 50.3. Meanwhile, the NBS Non-Manufacturing PMI improved significantly, rising to 52.2 in December from 50.0 in November and beating estimates of 50.2. Source: FXStreet
Oil prices rose on Tuesday after data showed China's manufacturing activity expanded in December, but they are on track to end lower for a second consecutive year due to demand concerns in top consuming countries. Brent crude futures rose 60 cents, or 0.8%, to $74.59 a barrel as of 0530 GMT. U.S. West Texas Intermediate crude gained 62 cents, or 0.9%, to $71.61 a barrel. For the year, Brent declined 3.2%, while WTI was down 0.1%. China's manufacturing activity expanded for a third straight month in December but at a slower pace, an official factory survey showed on Tuesday, suggesting a...
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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