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...
Gold price (XAU/USD) trades firmly above $3,400 during the European trading session on Wednesday, the highest level seen in over five weeks. The precious metal strengthens as global trade tensions continue to persist even as the United States (US) has confirmed a trade agreement with Japan. On Tuesday, US President Donald Trump announced through a post on Truth.Social that Washington has reached a deal with Tokyo in which the baseline tariff on imports from Japan will be 15%, lower than 25% imposed at the start of this month. Escalating trade worries between the US and the European Union...
The Pound Sterling (GBP) gains against its peers, except antipodeans, on Wednesday. The British currency attracts bids even as United Kingdom (UK) fiscal risks have resurfaced, following the government borrowings report from the Office for National Statistics (ONS) on Tuesday. The report showed that the administration raised the second-highest amount of funds since 1993 in order to mitigate the increase in debt costs, which accelerated due to higher inflation. Mounting UK borrowings pave the way for tax increases by the administration in its upcoming Autumn Statement. Meanwhile, investors...
USD/CHF holds ground after registering losses in the previous three successive sessions, trading around 0.7920 during the European hours on Wednesday. The pair holds ground as the US Dollar (USD) remains steady amid improving market sentiment, driven by latest trade developments. United States (US) President Donald Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products. President Trump also said during a meeting with the Philippines'...
Gold eased on Wednesday as risk appetite improved after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline, though a soft dollar and lower Treasury yields capped losses for greenback-priced bullion. Spot gold was down 0.2% at $3,422.95 per ounce, as of 0459 GMT, after hitting its highest point since June 16 earlier in the session. U.S. gold futures also slipped 0.2% to $3,436.10. Trump said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country. U.S. and Chinese officials...
The GBP/USD pair extends the rally to near 1.3525 during the early European session on Wednesday. The US Dollar (USD) remains weak against the Pound Sterling (GBP) as impending US President Donald Trump's tariff deadline looms. Investors will keep an eye on the preliminary reading of UK Purchasing Managers Index (PMI) reports, which are due later on Thursday. Uncertainty over tariff policy and concerns over the Federal Reserve (Fed) independence weigh on the Greenback. Investors brace for Trump's tariffs on top trading partners to take effect next month on one hand and bet that Trump will...
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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