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...
EUR/USD appreciates after registering mild losses in the previous session, trading around 1.1730 during the Asian hours on Thursday. The pair appreciates as the US Dollar (USD) loses ground following the latest Federal Open Market Committee (FOMC) Meeting Minutes and developments on US tariffs. FOMC Minutes from the June 17–18 meeting, released on Wednesday, indicated most Federal Reserve (Fed) officials considered a reduction in the fed funds rate likely to be appropriate at some point this year, noting that upward pressure on inflation from tariffs may be temporary or modest. Meanwhile,...
The GBP/USD pair gains ground around 1.3605 during the Asian trading hours on Thursday. The Greenback softens against the Pound Sterling amid the prospects for more interest rate cuts by the Federal Reserve (Fed) this year. Traders await the US weekly Initial Jobless Claims data later on Thursday. Also, the Federal Reserve (Fed) officials are scheduled to speak, including Alberto Musalem, Christopher Waller and Mary Daly. US President Donald Trump on Monday warned trading partners of sharply higher US tariffs from August 1, after he delayed all but 10% of his April levies on most countries...
Oil prices eased on Thursday as the latest tariff announcements by U.S. President Donald Trump were perceived by market participants as a threat to global economic growth, however signs of strong U.S. gasoline demand limited losses. Brent crude futures were down 3 cents at $70.16 a barrel by 0401 GMT. U.S. West Texas Intermediate crude lost 6 cents to $68.32 a barrel. On the demand side, macro uncertainty has led to a more cautious buying environment, particularly in Asia, said analytics firm Kpler in a note, while noting that geopolitical risk premiums have faded with the Israel-Iran...
The Japanese Yen (JPY) is building on the previous day's goodish recovery from over a two-week low and scaling higher for the second consecutive day against a broadly retreating US Dollar (USD). Investors remain on edge amid persistent uncertainties surrounding US President Donald Trump's trade policies, which, in turn, benefit the safe-haven JPY. The USD, on the other hand, is undermined by prospects for more interest rate cuts by the Federal Reserve (Fed) this year, bolstered by FOMC Minutes on Wednesday. This, in turn, contributes to the USD/JPY pair's intraday slide back below the...
The Australian Dollar (AUD) continues its winning streak for the third successive session on Thursday. The AUD/USD pair gained ground after the Reserve Bank of Australia (RBA) surprisingly decided to maintain the Official Cash Rate (OCR) at 3.85% earlier this week. RBA Governor Michele Bullock stated that inflation risks persist, driven by the elevated unit labor costs and weak productivity, which could push inflation above forecasts. Moreover, RBA Deputy Governor Andrew Hauser mentioned that the global economy is facing uncertainty. Hauser also stated that tariff effects on the global...
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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