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 Australian dollar held steady around $0.637 on Tuesday, near its lowest level in a year as investors remained cautious ahead of the U.S. Federal Reserve's upcoming policy decision. The Fed is widely expected to cut interest rates by 25 basis points on Wednesday, but may signal fewer cuts than previously indicated for 2025. At home, a private survey showed Australian consumer confidence fell in December, as sentiment turned more pessimistic about the economic outlook. Additionally, traders are awaiting the Australian government's update on its budget outlook, which is expected to show a...
EUR/USD posted a slow advance on Monday, moving to the upper end of a short-term consolidation just above the 1.0500 level, albeit with a lack of real conviction. European data is relatively limited this week, leaving Fiber traders to face a slew of important data on the US side. Markets largely ignored appearances by a number of European Central Bank (ECB) officials to start the new week. December European PMI figures beat expectations, but the Services PMI survey remained in contraction as concerns over a deepening economic slowdown in Europe continue to unsettle investors and...
West Texas Intermediate (WTI), the U.S. crude benchmark, traded around $70.20 on Tuesday (12/17). WTI prices were flat as traders await the Federal Reserve's (Fed) interest rate decision on Wednesday. However, concerns over sluggish global demand growth in China may cap the black gold's gains for the time being. China's Retail Sales in November came in slower than expected, raising concerns about weaker consumer spending in China. This, in turn, weighed on WTI prices as China is the world's largest oil importer. Data released by China's National Bureau of Statistics on Monday showed that...
Gold prices were steady on Tuesday as traders remained cautious ahead of interest rate decisions by major central banks, including the Federal Reserve. Bullion held steady near $2,650 an ounce, after posting modest gains in the previous session as investors digested mixed U.S. data. Activity at U.S. service providers expanded at the fastest pace since October 2021, while a gauge of New York state factory activity fell the most since May. The Fed makes its final interest rate decision of the year on Wednesday, followed by policy announcements in Japan and the U.K. this week. Swap markets...
The US Dollar (USD) is trading higher on Monday after spending most of its time in red numbers at the start of this week. The turnaround comes on the back of a very upbeat release in the preliminary S&P Global Services Purchase Managers Index (PMI) release for December. A print of 58.5 against the previous 56.1 and the concensus 55.7 is smashing it out of the park and is providing the needed tailwind for the Greenback to get out of its disappointing performance earlier this Monday. The first move on Monday was initiated after Chinese Retail Sales came in at 3.0% for November, below...
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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