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 futures fell more than 1% on Friday, pressured by expectations that OPEC+ producers will decide later this week to raise output and by Iran's reaffirmation of its commitment to nuclear nonproliferation. Brent crude futures fell 70 cents, or 1.02%, to $68.10 a barrel by 10:06 a.m. ET (1406 GMT) while U.S. West Texas Intermediate crude fell 72 cents, or 1.07%, to $66.28. Trading was thin due to the U.S. Independence Day holiday. Both contracts were on track for small weekly gains, with Brent trading about 0.5% higher than Friday's close and WTI about 1.2% higher. The eight-nation OPEC+...
The US dollar (USD) weakened on Friday (04/07), moving lower in holiday-thinned trading and ending two consecutive days of gains. After rising on stronger-than-expected US Nonfarm Payrolls data released on Thursday, the greenback is now paring gains, as market activity remains subdued amid the July 4 Independence Day holiday in the United States. The US Dollar Index (DXY), which measures the greenback against a basket of major currencies, traded flat during American trading hours. At the time of writing, the index was hovering near 97.00, retreating from a weekly high of 97.42 reached on...
Gold (XAU/USD) traded higher on Friday (04/07) as news of US President Donald Trump's "Big, Beautiful" bill made its way into the market. With markets closed in the US for Independence Day, XAU/USD was trading above $3,330 at the time of writing. Liquidity is expected to remain light in the US following the holiday weekend, which could make bullion sensitive to developments that could affect risk sentiment. Risk appetite improved this week, following reports that the US was making progress in trade talks ahead of a July 9 deadline. However, the mood changed slightly on Friday due to tariff...
The U.S. dollar slipped lower Friday, handing back some of the previous session's gains with attention turning to the July 9 deadline for U.S. trade deals. U.S. markets are closed Friday for the Independence Day holiday. Dollar slips on trade uncertaintyThe U.S. currency rallied on Thursday after stronger than expected U.S. jobs data pushed out the timing for potential rate cuts by the Federal Reserve. However, these gains have proved short-lived as attention has shifted to the ongoing trade negotiations between the U.S. and a substantial number of its trading partners, with hefty tariffs...
Oil futures fell on Friday after Iran reaffirmed its commitment to nuclear non-proliferation and amid expectations that major producers are set to agree to raise their output this weekend. Brent crude futures were down 35 cents, or 0.51%, to $68.45 a barrel by 0730 GMT, while U.S. West Texas Intermediate crude fell 25 cents, or 0.37%, to $66.75. Trade was thinned by the U.S. Independence Day holiday. U.S. news website Axios reported on Thursday that the U.S. was planning to meet with Iran next week to restart nuclear talk, while Iran Foreign Minister Abbas Araqchi said Tehran remains...
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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