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 steadied after a string of losses, with investors looking to US trade talk progress and low inventory levels. Brent crude traded below $69 a barrel after four sessions of declines, with West Texas Intermediate above $65. US President Donald Trump said he would set tariffs of 15% to 50% ahead of an Aug. 1 deadline for trade talks. The 15% levy rate was set for Japan on Wednesday, while the European Union is progressing toward a similar agreement. "There may be mild buoyancy in crude from a less-dismal demand-side assumption as markets express relief on...
The EUR/USD pair strengthened during the North American session, rising 0.16%, as rumors grew that the United States and the European Union (EU) would soon sign a deal similar to the one signed between Washington and Tokyo on Tuesday. At the time of writing, the pair was trading above 1.1770, after hitting a daily low of 1.1710. Trade news in the US was the main headline, keeping investors on edge as market sentiment fluctuated between risk-on and risk-off. The trade deal between Japan and the US, under which Japan would pay a 15% tariff on US imports, triggered the initial decline in...
Oil prices were little changed on Wednesday (July 23rd) as investors assessed trade developments between the European Union and the US after President Donald Trump reached a tariff deal, opening a new chapter with Japan. Brent crude futures closed 8 cents, or 0.12%, lower at $68.51 a barrel, while U.S. West Texas Intermediate crude fell 6 cents, or 0.09%, to $65.25 a barrel. On Wednesday, European Union officials said they were moving toward a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the US, avoiding the higher 30% tariffs scheduled to...
Gold prices continued to weaken on Wednesday (July 23rd) following reports that the US and the European Union were close to reaching a deal on 15% tariffs, which reduced demand for safe-haven assets. Meanwhile, silver had earlier surged to its highest level since September 2011. Spot gold fell 1.1% to $3,394.64 an ounce at 2:33 PM ET (18:33 GMT), after hitting its highest level since June 16th earlier. US gold futures closed down 1.3% to $3,397.60. "So, we're seeing a trade deal with Japan and also with the European Union. Ultimately, this means there are no major retaliatory tariffs from...
Gold fell after a three-day rally as US President Donald Trump's deal with Japan and reports of progress in negotiations with the European Union eased trade war fears that had fueled demand for safe-haven assets. Bullion fell as much as 1.4% after Trump said he would impose 15% tariffs on Japanese goods, while the Financial Times reported that the US and EU were close to reaching a similar agreement. The terms with Japan were better than most investors had expected, following tough negotiations. Commerce Secretary Howard Lutnick previously said that Japan's pledge to invest hundreds of...
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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