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 Australian Dollar (AUD) remains steady against the US Dollar (USD) on Wednesday after registering more than 0.50% gains in the previous session. The AUD/USD pair moves little following the release of the Consumer Price Index (CPI) data from China, Australia's close trading partner. China's Consumer Price Index climbed 0.1% year-over-year in June after declining 0.1% in May. The market consensus was 0% in the reported period. Meanwhile, the monthly CPI decreased by 0.1% against the expected 0% reading. Moreover, Producer Price Index (PPI) fell 3.6% YoY in June, following a 3.3% decline...
The dollar rose for a third day against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners. The greenback advanced against major peers on Tuesday after Trump began telling trade counterparts that sharply higher U.S. tariffs will start on August 1, but he later said he was open to extensions if countries made proposals. Trump said on social media that there would be announcements on Wednesday regarding "a minimum of 7 countries having to do with trade," without specifying whether he...
Gold edges lower in the early morning Asian session, weighed by higher Treasury yields. "Stronger-than-expected U.S. labor data last week dampened expectations for a near-term rate cut from the Fed," Traze's Erkin Kamran says in an email. The 10-year Treasury yield remains elevated, boosting the opportunity cost of holding nonyielding assets like gold, Kamran says. Meanwhile, market participants could stay cautious ahead of FOMC minutes due out later today, Kamran adds. Spot gold is 0.1% lower at $3,297.76/oz. Source: Dow Jones Newswires
Oil steadied as traders weighed signs of swelling US crude stockpiles and the fallout from President Donald Trump's tariff regime. West Texas Intermediate held near $68 a barrel after a two-day gain. Brent closed above $70 on Tuesday. US inventories rose by 7.1 million barrels last week, according to the American Petroleum Institute. That would be the largest increase since January if confirmed by government data on Wednesday. Investors continue to monitor US trade policy and any impact on demand, with Trump vowing to push ahead with his tariff agenda in coming...
GBP/USD fluctuates near 1.3600 as markets grapple with inconsistent policy messages regarding President Donald Trump's erratic tariff policies. The reciprocal tariffs announced and immediately postponed in early April have been pushed back from July 9 to August 1, and within 24 hours, President Trump announced that further delays or suspensions of the tariffs could and should not be expected. Adding further fuel to the tariff fire, President Trump announced a new 50% tariff on all copper imports into the US, which he confirmed would take effect "today" on Tuesday. Trump also reiterated...
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.
In...