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 rose near $2,660 an ounce on Friday, rising for a fourth straight session, supported by a weaker U.S. dollar and rising geopolitical tensions. Reports showed President Vladimir Putin warned of a potential new attack on Ukraine using nuclear-capable ballistic missiles, following Moscow's recent large-scale attacks on critical energy infrastructure. The precious metal is expected to fall more than 2% for the week, as markets await further U.S. data for additional insight into the Federal Reserve's monetary policy outlook. Earlier this week, core PCE prices in October matched...
Oil prices edged lower in Asian trade on Friday and were headed for a weekly loss on expectations of easing tensions in the Middle East, with focus shifting to the upcoming OPEC+ meeting. Crude was hit by the announcement of a ceasefire between Israel and the Lebanese militant group Hezbollah, although whether the truce will hold remains unclear. Escalating tensions between Russia and Ukraine - following a series of debilitating attacks on Kyiv - provided limited support to crude, while overall trading volumes were limited due to the U.S. Thanksgiving holiday. Brent crude futures expiring...
The dollar index dropped below 106 on Friday, on track to lose about 1.5% for the week, marking its first weekly decline in nine weeks. The initial pullback was sparked by the nomination of Scott Bessent as US Treasury Secretary, which provided markets with a sense of stability and eased concerns over drastic policy shifts under the incoming Trump administration. The decline gained momentum on Wednesday after US PCE inflation data met expectations, signaling little change in the Federal Reserve's stance on interest rate cuts. Markets are now pricing in a 66.5% chance of a 25 basis point...
The Japanese yen jumped 1% to around 150 per dollar on Friday, hitting a six-week high as investors reacted to data showing Tokyo inflation rose above 2% in November. The inflation data reinforced expectations for another interest rate hike from the Bank of Japan in December. Markets now price in about a 60% chance of a 25 basis point rate hike next month, up from about 50% a week ago. Tokyo's inflation figures are often seen as a leading indicator of national price trends, with national CPI data usually following in about three weeks. However, national CPI for November will not be...
The Australian dollar (AUD) continued its uptrend for the third straight session on Friday following aggressive comments from Reserve Bank of Australia (RBA) Governor Michele Bullock. However, the AUD/USD pair may face downward pressure as the United States (US) is set to announce additional measures on Monday aimed at curbing China's ability to advance artificial intelligence technology. RBA Governor Bullock said on Thursday that Australia's core inflation is still "too high" to consider cutting interest rates anytime soon. He stressed that there is still progress to be made before...
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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