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 prices fell 1% on Monday after touching a five-month high as markets tried to gauge the impact on transit of oil and gas via the Strait of Hormuz after U.S. airstrikes against Iran at the weekend. Brent crude futures were down 70 cents, or 0.9%, at $76.31 a barrel by 10:46 a.m. ET (1446 GMT). U.S. West Texas Intermediate crude (WTI) fell 76 cents, or 1%, to $73.09. Earlier in the session, Brent and WTI touched five-month highs of $81.40 and $78.40 respectively, before seesawing between positive and negative territory throughout the European trading session. U.S. President Donald Trump...
The US Dollar Index (DXY) is edging lower after a strong start on Monday as markets monitor the risks of an Iranian retaliation against the United States (US) and look ahead to Federal Reserve (Fed) Chair Jerome Powell's upcoming testimony on Tuesday. Over the weekend, US President Donald Trump confirmed that American forces struck three Iranian nuclear sites, prompting fears of retaliation from Tehran. The possibility that Iran could respond by disrupting Oil traffic through the Strait of Hormuz a critical maritime chokepoint has kept risk sentiment on edge. The Dollar Index, which...
Gold prices are recovering during the US session on Monday, as escalating geopolitical tensions and shifts in the Federal Reserve's (Fed) interest rate narrative have led to a resurgence in bullish momentum. The US airstrikes on Iranian nuclear sites over the weekend triggered a sharp response from Tehran, which condemned the attacks as a major provocation and launched retaliatory missile and drone strikes on Israel. The renewed conflict has heightened fears of a broader regional escalation. Meanwhile, Fed Governor Michelle Bowman signaled openness to a potential interest rate cut as early...
Oil erased earlier gains as fears began to fade of an immediate disruption to supplies from the Middle East, following US strikes on key Iranian nuclear sites. Global benchmark Brent initially surged as much as 5.7% to $81.40 a barrel in heavy trading, but later dropped below $77. US President Donald Trump said that air attacks over the weekend had "obliterated" a trio of targets in Iran, and threatened more military action if the country didn't make peace. In reply, Tehran warned that the strikes would trigger "everlasting consequences." The oil...
Gold eased on Monday as the dollar held firm, while market participants remained cautious, watching out for any potential Iranian retaliation to U.S. strikes on its nuclear sites. Spot gold was down 0.1% at $3,365.29 an ounc. U.S. gold futures fell 0.1% to $3,381.30. The dollar rose 0.6% against its peers, making gold more expensive for foreign buyers. Higher energy prices could potentially delay a Fed rate cut and strengthen the dollar, said Ole Hansen, head of commodity strategy at Saxo Bank. "Continued and multiple geopolitical uncertainties will likely continue to underpin and...
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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