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 GBP/USD pair moved up at the start of a busy week and for now, seems to have snapped a three-day losing streak to the 1.2600 handle, or more than a two-week low hit on Friday. The spot currency is trading around the 1.2630-1.2635 range, up 0.10% for the day, although meaningful appreciation seems elusive ahead of the key central bank event risks this week. The Federal Reserve (Fed) is scheduled to announce its policy decision on Wednesday, which will be followed by the Bank of England (BoE) meeting on Thursday. The US central bank is widely expected to lower borrowing costs for the...
Gold prices (XAU/USD) traded flat around $2,650 during the early Asian session on Monday (12/16). However, strong central bank purchases and ongoing geopolitical tensions in the Middle East could support the precious metal in the near term. Investors await the December US Purchasing Managers' Index (PMI) for fresh impetus, due on Monday. Significant demand from central banks lifted the yellow metal. Central banks have been net buyers of gold for nearly 15 years, underscoring its value as a crisis hedge and reliable reserve asset. According to the World Gold Council, the precious metal is...
Oil prices were steady on Monday after a weekly gain as the U.S. signaled tighter sanctions on Russian crude and Chinese authorities vowed to shore up the country's economy. Brent crude traded above $74 a barrel after rising nearly 5% last week, while West Texas Intermediate crude neared $71. The U.S. and its allies could consider lowering the price cap on Russian crude to further limit Moscow's ability to fund its war in Ukraine, Treasury Secretary Janet Yellen said in an interview with Reuters. Crude has been stuck in a tight range since mid-October, with geopolitical concerns tempered...
Gold edged up in early Asian trade on Monday (12/16). Investors are focused on this week's Federal Reserve meeting, Pepperstone's Quasar Elizundia wrote in an email. While markets are expecting a 25 bps rate cut, the Fed's economic projections and the ‘dot plot' could provide more clarity on the outlook for monetary policy in 2025, Elizundia said. Gold faces a challenging medium-term outlook with its price action closely tied to expectations for monetary policy and its impact on bond yields. The ability of central banks to manage inflation will be critical in shaping gold's future...
Oil prices climbed about 2% on Friday to settle at a three-week high, on expectations that additional sanctions on Russia and Iran could tighten supplies and that lower interest rates in Europe and the U.S. could boost fuel demand. Brent futures rose $1.08, or 1.5%, to settle at $74.49 a barrel. U.S. West Texas Intermediate crude rose $1.27, or 1.8%, to settle at $71.29. That was Brent's highest close since Nov. 22 and put the contract up 5% for the week. WTI posted a 6% gain for the week and closed at its highest since Nov. 7. Source: Reuters
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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