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 dollar index edged above 107 on Monday, hitting a three-week high, as traders awaited the Fed's interest rate decision and assessed key economic data. The Fed is widely expected to cut the federal funds rate by another 25 basis points, but investors will be closely monitoring the latest economic projections, particularly the prospect of rate cuts by 2025, with markets currently pricing in just three cuts. On the data front, the S&P Global Flash PMI showed surprisingly strong growth in private sector activity this month led by a surge in services while the manufacturing downturn...
Gold (XAU/USD) started the week on a relatively positive note, with the US dollar (USD) weighed down by a slight decline in US Treasury yields and weaker-than-expected US manufacturing figures. However, the precious metal remains close to recent lows after a 2.5% sell-off late last week. US Treasury yields fell on Monday after a sharp rally last week, taking some of the recent bullish pressure off the US dollar. Investors appear cautious about placing directional US dollar bets as they prepare for the all-important Federal Reserve (Fed) monetary policy decision on Wednesday. The market is...
Crude Oil is testing vital support around $70.00, after selling pressure emerged on the back of Chinese Retail Sales data for November which dampened hopes for a speedy recovery in the region. The 3% growth was far below consensus and the situation is set to deteriorate further as tanker rates on key routes to China are falling to the lowest level this year, pointing to even more sluggish demand ahead. Source: FXStreet
Silver Prices (XAG/USD) are trading in a mild positive bias on Monday, trimming some losses after the rejection from levels above $32.00 last week. A mild retreat in US Treasury yields is supporting precious metals on Monday but the overall picture shows the pair vulnerable. The daily chart reveals a sharp reversal pattern last week, which triggered a more than 4% sell-off in the last half of the week. Upside attempts are looking feeble so far, with previous support at $30.85 likely to challenge bulls. Source: Fxstreet
EUR/USD surrendered intraday gains and returned below the psychological 1.0500 level in the European session on Monday as a large number of European Central Bank (ECB) policymakers, including President Christine Lagarde, have supported further policy easing and a gradual move towards the neutral interest rate, which they expect to be around 2%. "Will cut interest rates further if incoming data confirm that disinflation is on track," Lagarde said at the Annual Economic Conference in the European session on Monday. Lagarde's dovish remarks on the policy outlook were supported by the...
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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