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 (EUR) posted a minimal loss of 0.08% against the US dollar (USD), trading below the 1.1800 mark on Wednesday. A worse-than-expected US jobs report raised speculation that the Federal Reserve (Fed) could cut interest rates amid growing fears of a recession in the world's largest economy. Currently, the EUR/USD pair is trading at 1.1795, almost unchanged. On Wednesday, Automatic Data Processing (ADP) announced that private payrolls declined in June, marking the first decline in two years. Although the US dollar initially weakened, it recovered slightly, dragging EUR/USD back below...
Oil futures rose more than 2% on Wednesday as Iran suspended cooperation with the U.N. nuclear watchdog and the U.S. and Vietnam reached a trade deal, but a surprise increase in U.S. crude supplies capped gains. Brent crude rose $1.47, or 2.2%, to $68.58 a barrel by 1:12 p.m. EDT, while U.S. West Texas Intermediate crude gained $1.46, or 2.2%, to $66.91 a barrel. Brent has traded between a high of $69.05 a barrel and a low of $66.34 since June 25, as concerns about supply disruptions in the Middle East eased following a cease-fire between Iran and Israel. Iran enacted a law that...
Gold prices edged higher during the North American session as traders braced for the release of the latest Nonfarm Payrolls (NFP) figures in the United States (US), which could be crucial for the direction of interest rates set by the Federal Reserve (Fed). At the time of writing, XAU/USD was trading at $3,348, up 0.29%. The latest jobs report, as revealed by ADP, showed that companies are cutting hiring instead of laying off people as they adjust to the current economic environment. News that Microsoft is cutting 9,000 jobs painted a gloomy outlook for the labor market. On Thursday, the...
Gold prices held steady on Wednesday as investors adjusted positions ahead of US nonfarm payrolls data, seeking more clarity on the timing of the Federal Reserve's next interest rate cut. Spot gold was up 0.1% at $3,341.92 an ounce, as of 11:49 a.m. EDT (15:49 GMT), while US gold futures were up 0.1% at $3,352.50. "We're seeing a lull here with the holiday-shortened week, and we're going to get the unemployment report on Thursday. So there's kind of a positioning, with people just waiting to see what that report shows," said Jim Wyckoff, senior analyst at Kitco Metals. Earlier today, the...
The US Dollar (USD) is trading with a slightly positive tone on Wednesday, bouncing back a bit after hitting the lowest level since February 2022 on Tuesday. The modest rebound comes as traders digest US economic data and cautious comments from Federal Reserve (Fed) Chair Jerome Powell, which have slightly eased the downward pressure on the Greenback. Still, concerns over tariffs, fiscal policy and the Fed's next move continue to weigh on the USD broader outlook. The US Dollar Index (DXY), which measures the Greenback's performance against a basket of six major currencies, is moving...
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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