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...
Gold hovered below $3,390 per ounce on Thursday, holding on to losses of over 1% from the previous session, as optimism over further trade deals between the US and key partners weighed on the metal's safe-haven appeal. The European Union is moving toward a trade agreement with Washington that would impose a broad 15% tariff on EU goods entering the US, avoiding a steeper 30% levy scheduled to take effect on August 1. The tariff, which could also apply to cars, would mirror the framework of a similar US-Japan deal. However, some caution remained amid ongoing threats of 15% to 50% tariffs on...
The Japanese yen strengthened past 146 per dollar on Thursday, reaching a two-week high as optimism surrounding the new US-Japan trade deal lifted demand. The agreement sets a 15% tariff on Japanese exports to the US, notably lower than the 25% previously threatened by President Donald Trump. Broader risk sentiment also improved amid reports of progress in US-EU trade talks. On the domestic front, Japan's private sector growth held steady in July, supported by solid services activity, though manufacturing slipped into contraction. However, the yen faces potential downside pressure from...
The US dollar index slipped toward 97 on Thursday, nearing a three-week low, as progress in trade talks with major partners lifted rival currencies. Reports indicated that the US and EU are moving closer to a deal, with discussions centered around a 15% baseline tariff on EU goods and possible exemptions. Earlier this week, Japan agreed to a similar 15% tariff on its exports to the US, a reduction from the 25% previously threatened by President Donald Trump. Additionally, Treasury Secretary Scott Bessent signaled that the current tariff truce with China is likely to be extended beyond its...
The Australian dollar strengthened to around $0.661 on Thursday, extending its five-session rally to hit its highest level since November last year, fueled by optimism over latest global trade developments. The US and EU are reportedly close to a trade deal that would impose 15% tariffs on most imports while waiving duties on select items, according to European Commission officials. Treasury Secretary Scott Bessent also confirmed that US and Chinese officials will meet in Stockholm next week for further talks. These developments follow a recent US–Japan tariff agreement that helped ease...
Gold edges higher in the early Asian session on possible position adjustments after front-month gold futures snapped a three-day winning streak overnight. Speculative positioning in the precious metal appears to be elevated though not extreme, while retail demand seems to be slower, two members of Sucden Financial's research team say in a commentary. As such, gold could remain in a consolidation phase until a clearer dovish signal from the Fed emerges, the members add. Spot gold is little changed at $3,390.51/oz. Source: Dow Jones Newswires
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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