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...
Oil prices fell in Asian trade on Tuesday as investors assessed the impact of President Donald Trump's tariff hikes on major trading partners, while lingering concerns about a supply glut from rising OPEC+ output added further pressure. At 9:40 p.m. ET (01:40 GMT), Brent crude futures expiring in September were down 0.7% at $69.11 a barrel, while West Texas Intermediate (WTI) crude futures were also down 0.7% at $67.46 a barrel. Both contracts rose more than 1% on Monday despite expectations of increased supply, as traders assessed the overall state of the market, which appeared tight....
Gold prices moved steadily on Tuesday (9/7), after reversing sharp losses in the previous session. This stability was triggered by market concerns about increasing global trade tensions after US President Donald Trump announced new tariffs of 25% on Japan and South Korea. This move encouraged investors to return to safe haven assets such as gold, although the strengthening US dollar put pressure on the price of the precious metal. What happened? Trump stated that Asian countries, including Japan and South Korea, would be subject to a 25% tariff on a number of exports to the US. Additional...
GBP/USD fell on Monday, cutting further to the lower side and adding to short-term losses as Pound bulls took a breather. Losses were contained in early week trade; however, fresh tariff threats from US President Donald Trump have dented investor risk appetite, curbing upside market flows and sparking a renewed push to avoid risk on the US Dollar. The Trump administration went into overdrive this week, delaying its self-imposed July 9 deadline to restart the broad reciprocal tariffs that were initially announced and then quickly postponed in early April. Despite another change to the "firm"...
EUR/USD fell on Monday (07/07) during the North American session amid a push to avoid risk, due to the escalating trade war, as US President Donald Trump began sending letters containing tariffs on several countries. This pushed the US dollar, hurting the common currency, which was trading at 1.1718, down 0.44%. Trump announced a 25% tariff on all Korean and Japanese products imported into the US. In addition, he imposed duties on Malaysia, Kazakhstan, Myanmar, Laos, and South Africa in the range of 25% to 40%. As the headlines broke, EUR/USD dropped to a six-day low of 1.1686. However,...
Oil rose more than 1% on Monday on signs of strong demand, shrugging off the impact of a bigger-than-expected OPEC+ output increase for August and concerns about the potential impact of U.S. tariffs. Brent crude futures rose 79 cents, or 1.2%, to $69.08 by 2:05 p.m. ET (18:05 GMT). U.S. West Texas Intermediate crude was at $67.29, up 29 cents, or 0.4%. The benchmarks had dropped to $67.22 and $65.40, respectively, earlier in the session. "The supply picture is clearly improving, however, stronger demand remains above expectations as well," Dennis Kissler, senior vice president of trading...
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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