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 U.S. dollar was steady on Friday, set to end a volatile week with modest gains as traders digested the implications of a new Trump presidency and a compliant Federal Reserve. At 4:30 a.m. ET (09:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was flat at 104.372. The index is on track for a gain of just 0.2% this week, even after rising 1.5% on Wednesday after Donald Trump's election victory, when it posted its biggest one-day gain since September 2022. The dollar jumped to a four-month high on Wednesday as traders braced for a new Trump...
Gold prices fell on Friday but held around $2,700 as markets reacted to the implications of Donald Trump's presidency and the Fed's latest interest rate decision. The Fed cut interest rates by 25 basis points as expected on Thursday, while signaling a cautious and considered stance on any further rate cuts. However, markets are pricing in higher rates from the Fed, as the new US president's policies—focused on raising tariffs, cutting taxes and deregulation—are expected to widen deficits and fuel inflation. Meanwhile, demand for gold remains strong. The World Gold Council reported that...
Silver (XAG/USD) met with fresh supply on Friday (08/11) and reversed a major part of the previous day's decent recovery move from over three-week lows. The white metal continued losing ground through the first half of the European session and refreshed daily lows, around the $31.30 area in the last hour. From a technical perspective, any further declines are likely to find some support near the $31.00 level ahead of the $30.85-$30.80 region, or multi-week lows. Some follow-through selling below the 50% Fibonacci retracement level of the August-October rally, around the $30.65-$30.60 area,...
Gold (XAU/USD) prices fell to the $2,680 area during the first half of the European session on Friday and was pressured by a combination of factors. Expectations that Trump's policies will spur economic growth and inflation, to a greater extent, overshadowed the Federal Reserve's (Fed) dovish outlook, which in turn, helped revive demand for the US Dollar (USD). Moreover, the generally positive risk sentiment undermined the safe-haven precious metal. Meanwhile, a decline in the US Treasury bond yields might hold US investors from placing aggressive bets and help limit any further...
The Japanese yen stabilized around 152.8 per dollar on Friday after Finance Minister Katsunobu Kato signaled that Japan would take "appropriate action" to address excessive foreign exchange fluctuations. Kato reiterated official warnings against speculative moves in the currency market and emphasized that the government is closely monitoring the impact of Donald Trump's policies on Japan's economy. Kato's comments came after opposition leader Yuichiro Tamaki warned that Trump's policies could intensify inflation in the US, potentially putting further downward pressure on the yen. On...
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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