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...
Silver prices remained around $30.30 per ounce on Tuesday, following a more than 3% decline in the previous session, as demand for safe-haven assets like precious metals faded. The pullback came amid reports that Israel and Hezbollah were nearing a ceasefire agreement, which helped ease tensions in the Middle East. Market sentiment was further bolstered by the nomination of Scott Bessent as US Treasury Secretary, which brought a sense of stability to investors. Bessent, who has stated that Trump's goal is not to trigger inflation, also suggested that any new tariffs should be phased in...
EUR/USD pares its daily losses, trading around 1.0490 during the Asian hours on Tuesday. However, the pair may continue to depreciate due to dampened market sentiment following President-elect Donald Trump's announcement of planning to impose a 25% tariff on imports from Mexico and Canada, along with a 10% hike in tariffs on all Chinese goods entering the United States (US). The US Dollar (USD) remains subdued following comments from Federal Reserve (Fed) officials on Tuesday. However, the USD's downside risks are limited, supported by strong preliminary S&P Global US Purchasing...
Gold held steady around $2,620 an ounce on Tuesday (11/26) after dropping 3.4% in the previous session as reports that Israel and Hezbollah were close to a ceasefire deal dampened demand for the safe-haven asset. The precious metal was also hit by a rise in the U.S. dollar after President-elect Donald Trump announced plans to impose 25% tariffs on all imports from Mexico and Canada starting his first day in office, along with an additional 10% tariff on goods from China. More influential in gold prices was the appointment of Scott Bessent as Treasury Secretary in the incoming...
Oil prices fell in early Asian trading on Tuesday, extending losses from the previous session as the prospect of an Israel-Lebanon ceasefire prompted traders to price in a lower risk premium for crude. A surge in the dollar, after U.S. President-elect Donald Trump threatened to impose tariffs on China, Canada and Mexico, also weighed on oil prices. Brent crude for January delivery fell 0.3% to $72.80 a barrel, while West Texas Intermediate crude fell 0.3% to $68.33 a barrel by 8:14 p.m. ET (01:14 GMT). Oil pressured by reports of an Israel-Hezbollah ceasefire looming Oil prices fell on...
The Japanese yen remained firm around 154 per dollar on Tuesday, up about half a percent so far this week, as US President-elect Donald Trump threatened additional tariffs on China, Mexico, and Canada, dampening global risk sentiment. The yen also gained support from Trump's nomination of Scott Bessent as US Treasury Secretary, which provided a sense of stability in the markets and led traders to scale back their "Trump trades." Domestically, investors are focused on upcoming inflation data from Tokyo, which is seen as a leading indicator of nationwide price trends. On the monetary policy...
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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