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 Japanese yen appreciated toward 147 per dollar on Monday, recouping some losses from last week as investors responded to renewed global trade concerns. The move followed President Donald Trump's announcement of a 30% tariff on imports from the European Union and Mexico, set to take effect on August 1. In response, EU and Mexican leaders signaled their intent to continue negotiations with the Trump administration this month in hopes of securing a lower tariff rate. The EU is also reportedly expanding talks with other nations impacted by the tariffs, including Canada and Japan,...
The Australian dollar weakened to around $0.656 on Monday, reversing gains from the previous week, as renewed tariff threats from US President Donald Trump stirred fears of potential global trade war. Trump announced a 30% tariff on imports from the European Union and Mexico starting August 1, while also signaling the possibility of further duties on other countries and urging trading partners to return to the negotiating table. In a related move, Trump proposed a steep 200% tariff on Australian pharmaceuticals, sparking concern among Australian industry leaders and government officials, as...
EUR/USD halts its three-day losing streak, trading around 1.1700 during the Asian hours on Monday. The pair gains ground as the US Dollar (USD) loses ground due to escalating global trade tensions. On Saturday, US President Donald Trump announced a 30% tariff on imports from the European Union (EU) and Mexico starting August 1. He also proposed a blanket tariff rate of 15%-20% on other trading partners, an increase from the current 10% baseline rate. In response, the European Union announced on Sunday that it will extend its pause on retaliatory measures against US tariffs until early...
The GBP/USD pair enters a bearish consolidation phase during the Asian session and oscillates in a narrow band around the 1.3500 psychological mark, just a few pips above a three-week low touched on Friday. Moreover, the fundamental backdrop suggests that the path of least resistance for spot prices remains to the downside. A modest US Dollar (USD) pullback from its highest level since June 25 turns out to be a key factor lending some support to the GBP/USD pair. However, diminishing odds for a near-term reduction in borrowing costs by the Federal Reserve (Fed), amid concerns that US...
Oil steadied after President Donald Trump escalated the trade war, with threats of 30% tariffs on goods from the European Union and Mexico hurting appetite for risk and the outlook for energy demand. Global benchmark Brent was little changed above $70 a barrel, after gaining 3% last week, while West Texas Intermediate was above $68. US equity-index futures dropped after the latest tariff threats, which followed US trade measures against nations from Canada to Brazil and Algeria last week. At the same time, investors were on alert for a "major statement" promised from Trump on Russia later...
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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