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...
GBP/USD extended its gains for the third straight session, trading around 1.3620 during Asian hours on Wednesday (6/25). The pair was hovering around 1.3648, the highest since February 2022, recorded on Tuesday. The risk-sensitive GBP/USD pair received support from improving risk appetite amid easing tensions in the Middle East. US President Donald Trump announced that a ceasefire between Iran and Israel was in effect on Tuesday, raising hopes for an end to the 12-day conflict. However, caution remains amid uncertainty over the sustainability of the truce. Traders are likely to focus on a...
Oil prices edged up on Wednesday, finding some relief after falling in the past two sessions, as investors assessed the stability of a ceasefire between Iran and Israel. Brent crude rose 75 cents, or 1.1%, to settle at $67.89 a barrel. U.S. West Texas Intermediate (WTI) crude rose 71 cents, or 1.1%, to settle at $65.08. Brent closed on Tuesday at its lowest since June 10 and WTI since June 5, both before Israel launched a surprise attack on Iran's main military and nuclear facilities on June 13. Prices had risen to a five-month high after the U.S. struck Iranian nuclear facilities over...
The Japanese Yen (JPY) remained firm against its US counterpart during the Asian session on Wednesday (6/25) and remained close to a one-week high hit the previous day amid a combination of supportive factors. The Bank of Japan (BOJ) June meeting summary showed that some policymakers called for interest rates to be kept steady for the time being due to uncertainty over the impact of US tariffs on the Japanese economy. In addition, the fragile Israel-Iran ceasefire and trade-related uncertainties supported the JPY as a safe-haven asset. Meanwhile, investors appear convinced that the BOJ...
Gold was steady in early Asian trade on the prospect of a Fed rate cut that would boost the appeal of the non-yielding precious metal. Fed Chair Powell told lawmakers on Tuesday that recent economic data would likely justify a rate cut if there were no concerns that higher tariffs could derail policymakers' efforts to combat inflation. Two Fed officials, Christopher Waller and Michelle Bowman, have also recently indicated they could support a rate cut. "Gold prices are resilient on speculation about a U.S. rate cut," Thu Lan Nguyen, head of FX and Commodity Research at Commerzbank, said in...
EUR/USD extended its gains for the fourth straight day, up by 0.39%, even though it trades off the yearly highs of 1.1641, driven by US Dollar weakness spurred by a de-escalation of the Middle East conflict. Israel and Iran agreed to a ceasefire, which improved the market mood and ultimately weighed on the Greenback. At the time of writing, the pair traded at 1.1619, up 0.38%. Market mood turned upbeat, pushing the Dollar down. The US Dollar Index (DXY), which tracks the buck's performance against a basket of six currencies, including the Euro, tumbled over 0.47%, trading near weekly lows...
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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