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 euro weakened against the US dollar on Thursday following the release of June employment figures in the United States (US), which showed why the Federal Reserve (Fed) is not ready to ease borrowing costs. At the time of writing, EUR/USD was trading at 1.1744, down 0.45%. The Nonfarm Payrolls (NFP) report took center stage on Thursday, as it dropped in the shortened week for the US Independence Day. The data dashed investor expectations for a rate cut, beating estimates and May's figures. Additional metrics showed that the Unemployment Rate fell and Average Hourly Earnings held...
Oil prices fell slightly on Thursday as investors worried that U.S. tariffs could slow energy demand ahead of expected supply increases by major crude producers. Brent crude futures settled 31 cents, or 0.45%, lower at $68.80 a barrel. U.S. West Texas Intermediate crude fell 45 cents, or 0.67%, to $67 in thin trading ahead of the Independence Day holiday. President Donald Trump's 90-day pause on higher U.S. tariffs expired on July 9, and several major trading partners have yet to reach a trade deal, including the European Union and Japan. Oil traders are concerned about the impact on the...
Gold prices fell 0.80% on Thursday (03/07) as a strong US Nonfarm Payrolls report strengthened the US Dollar, leading market participants to believe that the Fed is unlikely to cut interest rates at its July meeting. At the time of writing, XAU/USD was trading at $3,332, having hit an intraday high of $3,365. The US June jobs report beat estimates and also surpassed May's reading. It is worth noting that the Unemployment Rate fell close to the 4% threshold, indicating that the labor market remains solid. The data called into question Wednesday's ADP National Employment Change report, which...
Gold fell 1% on Thursday as stronger-than-expected U.S. payrolls data reinforced expectations that the Federal Reserve is unlikely to cut interest rates as quickly as previously anticipated, denting the metal's appeal. Spot gold fell 1% to $3,323.49 an ounce by 11:02 a.m. EDT (1502 GMT), while U.S. gold futures fell 0.8% to $3,333. The dollar (.DXY), opens a new tab and U.S. stock index futures rose after nonfarm payrolls increased by 147,000 jobs last month, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast payrolls rising by 110,000. A...
Oil prices fell slightly on Thursday as the possibility of renewed U.S. tariffs raised questions about demand ahead of expected supply increases by major producers. Brent crude futures fell 63 cents, or 0.91%, to settle at $68.48 a barrel by 11:12 a.m. EDT (1512 GMT). U.S. West Texas Intermediate crude fell 77 cents, or 1.14%, to settle at $66.68. Both contracts hit one-week highs on Wednesday as Iran, a major oil producer, suspended cooperation with the U.N. nuclear watchdog, raising concerns that a lingering dispute over its nuclear program could escalate into armed conflict. A...
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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