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 edged higher ahead of the Federal Reserve's final interest rate decision of the year, with traders also weighing the outlook for 2025 policy. The bullion's gains followed a 2.6% decline in the previous two sessions on the back of mixed U.S. data last week — including rising wholesale inflation and higher-than-expected jobless claims. The Fed is widely expected to cut rates by 25 basis points at its meeting on Wednesday, and swaps traders are pricing in a total of three quarter-point cuts over the next 12 months. Lower interest rates are usually positive for gold, since it doesn't pay...
The dollar hovered close to a three-week peak versus major peers on Monday, ahead of a week of central bank meetings in which markets expect the Federal Reserve to cut interest rates but signal a measured pace of easing for 2025 Bitcoin soared above $105,000 for the first time, buoyed by signs President-elect Donald Trump will go ahead with a potential strategic bitcoin reserve. The euro was up 0.13% on the day at $1.0517, after dipping to $1.0453 at the end of last week, its weakest since Nov. 26, hampered by ratings agency Moody's (NYSE:MCO) unexpectedly downgrading France on...
Oil futures eased from multi-week highs as traders took profits while awaiting the Federal Reserve meeting later this week for clues on further interest rate cuts. However, the declines were capped by concerns about supply disruptions if further U.S. sanctions on key suppliers Russia and Iran are imposed. Brent crude futures were down 29 cents, or 0.4%, at $74.20 a barrel by 0746 GMT after hitting their highest since Nov. 22 on Friday. U.S. West Texas Intermediate crude futures were down 36 cents, or 0.5%, at $70.93 a barrel after hitting their highest close since Nov. 7 in the previous...
Gold (XAU/USD) prices staged a modest recovery from one-week troughs touched on Monday (16/12), albeit lacked any follow-through buying and currently trades around the $2,655 region. A modest pullback in the US Treasury bond yields kept the US Dollar (USD) investors on the defensive and offered some support to the commodity. Additionally, persistent geopolitical risks and concerns about US President-elect Donald Trump's policies kept the safe-haven precious metal underpinned. That said, growing acceptance that the Federal Reserve (Fed) will slow the pace of its interest rate-cutting cycle,...
The EUR/USD pair trades in positive territory around 1.0510 during the early European session on Monday. However, the upside for the cross might be limited due to the dovish stance of the European Central Bank (ECB). The ECB decided to cut interest rates for the fourth time this year last week and kept the door open to further easing as the Eurozone economy is weighed by political instability at home and the potential Donald Trump's tariff threats. Later on Monday, traders await the preliminary Eurozone HCOB Purchasing Managers' Index (PMI) for December for fresh impetus, along with 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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