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...
Gold (XAU/USD) price is attempting to extend its recovery as traders digest Wednesday's Automatic Data Processing (ADP) employment report. With XAU/USD hovering near $3,350 at the time of writing, US President Trump's tax bill and interest rate expectations continue to drive demand for bullion. The ADP Employment Change report for June showed that the private sector contracted in June. Analysts had expected the June report to show that 95,000 jobs were added to the US private sector in May. Instead, a negative reading of 33K reflects potential weakness in the US labour market. As a...
Oil prices rose Wednesday after Iran suspended cooperation with the U.N. nuclear watchdog, lifting geopolitical tensions in the region. At 07:50 ET (11:50 GMT), Brent oil futures for September rose 1.2% to $67.94 a barrel, and West Texas Intermediate crude futures gained 1.3% to $66.30 a barrel. Iran suspends cooperation with UN Iran put into effect a law on Wednesday that stipulates that any future inspection of its nuclear sites by the International Atomic Energy Agency needs approval by Tehran's Supreme National Security Council. This decision comes amid growing tensions between Tehran...
The AUD/USD pair attracts some sellers on Wednesday and moves away from a fresh year-to-date high, around the 0.6590 area touched the previous day. Spot prices remain depressed near the 0.6565-0.6560 region through the first half of the European session, though the downside potential seems limited. The Australian Dollar (USD) is weighed down by unimpressive domestic data, which reaffirmed bets that the Reserve Bank of Australia (RBA) will cut interest rates again in July. The Australian Bureau of Statistics (ABS) reported that Retail Sales grew 0.2% MoM in May compared to 0% in April,...
The U.S. dollar languished near its lowest since February 2022 against major peers on Wednesday as traders considered the potential impact of President Donald Trump's spending bill, and looming tariff deadlines. Market participants are in a holding pattern until they get clarity on those matters and as they await U.S. jobs data for June, and the dollar inched up slightly but remained near recent lows. The euro was down 0.3% at $1.1774, on Wednesday, but close to its highest since September 2021 hit Tuesday, and the pound was down 0.15% at $1.3722, after hitting a three-and-a-half year top...
The US Dollar is showing a slightly firmer tone on Wednesday with the USD/CHF bouncing up from multi-year lows at 0.7875, but still capped below previous lows at the 0.7960 area. The Greenback drew some support on Tuesday from a strong US JOLTS Job Openings report and a larger-than-expected improvement in manufacturing activity. These figures endorsed Fed Powell's earlier comments at the ECB Forum oc Central Banking in Sintra, Portugal, where the chair of the US central bank confirmed his cautious stance toward interest rate cuts, amid a likely increase on inflation stemming from Trump's...
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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