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 posted modest gains during the North American session as the US dollar erased some of its earlier gains, following US President Donald Trump's demand for the Federal Reserve to cut interest rates, as he pushed back the July 9 deadline to August 1. At the time of writing, the pair was trading at 1.1724, up 0.14%. Risk appetite soured late in the day, amid uncertainty over trade policy. US Commerce Secretary Howard Lutnick said he expected 15-20 more letters to be sent in the next few days, according to an interview with CNBC. Meanwhile, Trump's threat to expand tariffs on...
Brent crude rose 0.8% to settle at $70.1 a barrel on Tuesday, hitting a two-week high, as investors weighed the impact of new U.S. tariffs and a larger-than-expected OPEC+ output increase in August. President Trump's announcement of tariffs on 14 countries raised concerns about global economic growth and oil demand, although tightening production of middle distillates and ongoing Houthi attacks on cargo ships provided support to prices. OPEC+ agreed on Saturday to raise output by 548,000 barrels per day in August, a fourth straight monthly increase and larger than analysts had...
Gold prices fell more than 1% on Tuesday, as optimism over a trade deal between the U.S. and its trading partners weighed on safe-haven flows, with a stronger U.S. dollar and rising Treasury yields adding further pressure. Spot gold fell 0.8% to $3,307.16 an ounce, as of 1:49 p.m. EDT (1749 GMT), after hitting its lowest in more than a week earlier in the session. U.S. gold futures settled 0.8% lower at $3,316.9. The benchmark 10-year Treasury yield hit its highest in more than two weeks, making non-yielding bullion less attractive, while the dollar, opens new tab , edged up 0.1%. Asia's...
Oil prices held near two-week highs on Tuesday as investors assessed the latest developments in U.S. tariffs and a bigger-than-expected increase in OPEC+ output for August. Brent crude futures rose 29 cents, or 0.4%, to $69.87 a barrel by 11:07 a.m. EDT (1507 GMT), while U.S. West Texas Intermediate (WTI) crude rose 11 cents, or 0.2%, to $68.04. That put both benchmarks on track for their highest closes since June 23 for a second straight day. Major Asian economies Japan and South Korea said on Tuesday they would try to negotiate with the U.S. to soften the impact of much higher tariffs...
Gold fell as investors analyzed President Donald Trump's decision to delay the start of increased tariffs on some trading partners, while insisting that the new deadline is final. The precious metal fell as much as 1.5%, with investors awaiting more details on the president's approach to negotiations, following this week's move to delay the imposition of all tariffs from April 2 to August 1, effectively giving each affected country an extra three weeks to reach a deal. "Tariffs will start being paid on august 1, 2025. There has been no change to this date, and there will be none," Trump...
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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