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...
Oil prices firmed on Wednesday as market participants weighed up geopolitical tensions and the prospect of OPEC+ extending supply cuts against weaker demand. Brent crude futures rose 23 cents, or 0.3%, to $73.85 a barrel by 0700 GMT, while U.S. West Texas Intermediate crude futures gained 19 cents, or 0.3%, to $70.13. On Tuesday, Brent posted its biggest gain in two weeks, rising 2.5%. Meanwhile in the U.S., crude oil inventories rose 1.2 million barrels last week, market sources said, citing data from the American Petroleum Institute. Gasoline inventory also rose, by 4.6 million...
The euro strengthened on Wednesday ahead of a French no-confidence vote, while the Australian dollar fell to a four-month low on slowing economic growth and gains resumed after South Korea's president resigned after declaring martial law. The European common currency held steady at $1.0512 and 82.90 pence ahead of a vote by French lawmakers on a no-confidence motion that is almost certain to topple Prime Minister Michel Barnier's fragile coalition. The debate is due to begin at 4 p.m. in Paris (1500 GMT), with a vote expected about three hours later, parliamentary officials...
Gold fell on Wednesday as a modest recovery in the U.S. dollar outweighed safe-haven demand as markets awaited U.S. jobs data and comments from Federal Reserve Chairman Jerome Powell for clues on the U.S. central bank's policy outlook. Spot gold fell 0.1% to $2,641.79 an ounce by 0902 GMT. U.S. gold futures fell 0.2% to $2,663.70. The dollar index reflects strength that makes dollar-priced bullion more expensive for buyers using other currencies. Traders see about a 74% chance of the Fed cutting interest rates by 25 basis points, according to CME Group's FedWatch Tool. U.S. central...
The USD/JPY pair extended its overnight upsurge from the 148.65 area, the lowest level since October 11 and gained strong follow-through traction on Wednesday (4/12). The intraday upsurge extended into the first half of the European session and lifted the spot prices to a fresh intraday high, around the 150.55 region in the last hour. Investors now seem convinced that the Federal Reserve (Fed) will take a more cautious approach to cutting interest rates amid expectations that US President-elect Donald Trump's policies will boost inflation. This, in turn, pushed the US Treasury bond yields...
Oil prices firmed on Wednesday as market participants weighed up geopolitical tensions and the prospect of OPEC+ extending supply cuts against weaker demand. Brent crude futures rose 23 cents, or 0.3%, to $73.85 a barrel by 0700 GMT, while U.S. West Texas Intermediate crude futures gained 19 cents, or 0.3%, to $70.13. On Tuesday, Brent posted its biggest gain in two weeks, rising 2.5%. A shaky ceasefire between Israel and Hezbollah, South Korea's curtailed declaration of martial law and a rebel offensive in Syria that threatens to draw in forces from several oil-producing countries, all...
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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