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 on Monday as weaker-than-expected U.S. inflation data revived hopes for further policy easing, although the prospect of a supply surplus next year weighed on the market. Brent crude was up 36 cents, or 0.5%, at $73.30 a barrel by 0421 GMT. U.S. West Texas Intermediate crude was up 39 cents, or 0.6%, at $69.85 a barrel. "Risk assets, including U.S. equities and crude, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal Reserve's aggressive interest rate cuts. "I think the...
The USD/CHF pair strengthened to around 0.8935, snapping a two-day losing streak during the early European session on Monday (12/23). A hawkish interest rate cut by the US Federal Reserve (Fed) provided some support to the greenback. Traders await the December US Consumer Confidence report and the Chicago Fed National Activity Index, due on Monday. The Fed cut interest rates by a quarter-point last week and has forecast only two rate cuts in 2025, down from its initial estimate of four. Hawkish signals from the US central bank, which has recently appeared concerned about persistent...
Gold (XAU/USD) prices struggled to capitalize on last week's modest recovery from one-month lows and fluctuated in a range around $2,625 during the Asian session on Monday (December 23). The US Dollar (USD) remained subdued below a two-year high touched on Friday and turned out to be a key factor acting as a tailwind for the commodity. Additionally, geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East further supported the safe-haven precious metal. Meanwhile, the Federal Reserve's (Fed) hawkish signal that it will slow the pace of interest rate...
Oil prices edged higher on Monday, along with other risk assets, after U.S. data showed a slowdown in inflation, reviving hopes of further policy easing next year that would support global economic growth and oil demand. Brent crude futures were up 26 cents, or 0.4%, at $73.20 a barrel by 0141 GMT. U.S. West Texas Intermediate crude was up 31 cents, or 0.5%, at $69.77 a barrel. "Risk assets, including U.S. equity futures and crude oil, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal...
Gold (XAU/USD) prices held steady near $2,625 during the early Asian session on Monday. The Federal Reserve's (Fed) hawkish stance may weigh on the yellow metal. However, a weaker greenback after a softer inflation report could limit its decline. The Fed cut interest rates in its December meeting as expected but signaled it would slow the pace of borrowing cost cuts further. The Fed's dot plot, a chart that projects the future path of interest rates, indicated a half percentage point rate cut in 2025, compared to a full percentage point cut projected in September. This, in turn,...
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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