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...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $65.75 during the early Asian trading hours on Friday. The WTI price tumbles amid concerns about a supply hike for August by OPEC+, a surprise increase in US crude inventories, and intensifying US tariff pressures. The Organization of the Petroleum Exporting Countries and allies (OPEC+) agreed at a July 6 meeting to hike their collective crude production by 548,000 barrels per day (bpd), as they continue to unwind a set of voluntary supply cuts. The group previously announced hikes of 411,000 bpd for May, June,...
EUR/USD weakened during the North American session, down more than 0.23%, as market participants digested the US jobs report that strengthened the Federal Reserve's case for maintaining interest rates at its upcoming July meeting. At the time of writing, the pair was trading at 1.1695 after peaking at 1.1749. Wall Street ended Thursday's session with gains as traders assessed the current US labor market situation. Initial Jobless Claims for the past week were below estimates and the previous reading, signaling strength. However, Continuing Claims rose to their highest level since 2022. On...
Oil prices plunged more than 2% on Thursday (July 10th), as investors weighed the potential impact of US President Donald Trump's tariffs on global economic growth. Brent crude futures closed at $68.64 per barrel, down $1.55, or 2.21%. US West Texas Intermediate crude futures closed at $66.57 per barrel, down $1.81, or 2.65%. On Wednesday, Trump threatened Brazil, Latin America's largest economy, with punitive 50% tariffs on exports to the US, pressuring his Brazilian counterpart, Luiz Inácio Lula da Silva, over the trial of former President Jair Bolsonaro in Brazil on charges of plotting...
Gold prices were little changed on Thursday (July 10) as a stronger U.S. dollar offset the impact of U.S. President Donald Trump's latest tariffs, prompting buying by investors seeking protection from geopolitical risks. Spot gold rose 0.1% to $3,317.44 an ounce at 1:50 PM ET (17:50 GMT). U.S. gold futures closed 0.1% higher at $3,325.7. The U.S. dollar index rose 0.2%. Gold tends to lose traction when the U.S. dollar strengthens, as it becomes more expensive for investors holding other currencies. "Unless there's a major geopolitical escalation, I don't see gold breaking above $3,400. In...
Gold prices were little changed on Thursday (July 10) as a stronger U.S. dollar offset the impact of U.S. President Donald Trump's latest tariffs, prompting buying by investors seeking protection from geopolitical risks. Spot gold prices rose 0.2% to $3,318.56 an ounce at 11:03 a.m. ET (1603 GMT). U.S. gold futures rose 0.2% to $3,328.30. The U.S. dollar index rose 0.2%. Gold tends to lose traction when the U.S. dollar strengthens, as it becomes more expensive for investors holding other currencies. "Unless there's a major geopolitical escalation, I don't see gold breaking above $3,400. In...
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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