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 AUD/USD climbs to near 0.6570 during the European trading session on Thursday. The Aussie pair continues to perform strongly from Tuesday when the Reserve Bank of Australia (RBA) surprisingly kept interest rates steady at 3.85%, citing officials need confidence that inflationary pressures are on the 2.5% path. "The Board judged that it could wait for a little more information to confirm that inflation remains on track to reach 2.5% on a sustainable basis," the board said in a statement, Reuters reported. The unexpected move to hold interest rates steady by the RBA led to a sharp upside...
The EUR/USD pair holds gains on Thursday, but the pair has pulled back from intra-day highs. Investors' concerns about the uncertain outlook for international trade are weighing on risk appetite, although a somewhat softer US Dollar, following the minutes of the last Federal Reserve (Fed) meeting, keeps the pair supported. The Euro (EUR) met buyers right below 1.1700 on Wednesday, paring some losses and returning to the mid-range of the 1.1700s, as the pair trades at 1.1740 at the time of writing. From a wider perspective, however, the bearish structure from the July 1 highs remains in...
The Pound Sterling (GBP) ticks up to near 1.3600 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair edges higher as the US Dollar (USD) struggles to hold over a week-long recovery move amid uncertainty surrounding trade discussions between the United States (US) and its trading partners. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, falls slightly to near 97.40. So far, the US has announced trade agreements with the United Kingdom (UK) and Vietnam, and a limited deal with China....
The USD/JPY pair trades sideways around 146.30 during the European trading session on Thursday. The pair consolidates as investors await fresh news regarding trade talks between the United States (US) and Japan. Earlier this week, US President Trump imposed 25% tariffs on imports from Japan, which will come into effect on August 1. The size of tariffs was lower than what Trump announced at the start of month, while stating that Tokyo behaves stiffly over agriculture imports from Washington and disparity over automotive trade. "We've dealt with Japan. I'm not sure if we're going to make a...
Silver prices climbed above $36.50 per ounce on Thursday, snapping a three-day losing streak as a softer US dollar and a sharp decline in Treasury yields boosted demand for precious metals. The moves followed minutes from the Federal Reserve's latest meeting, which showed most policymakers were open to cutting interest rates later this year. Investors also navigated evolving global trade dynamics, with US President Donald Trump sending letters dictating new tariff rates on a total of 21 countries. Moreover, Trump announced a 50% levy on Brazilian goods effective August 1, citing unfair...
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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