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 dollar rose on Thursday, boosted by safe-haven demand amid the threat of a wider conflict in the Middle East and possible U.S. involvement, while investors weighed Federal Reserve Chairman Jerome Powell's warning tone on inflation. After a quiet start in Asian hours, the dollar strengthened across the board, weighing on risk-sensitive currencies after a report said U.S. officials were preparing for a possible attack on Iran in the coming days. The Australian dollar fell as much as 0.5% but was last down 0.3% at $0.6489, while the New Zealand dollar fell 0.5% to $0.5998. Emerging-market...
Gold prices rose on Thursday as the Iran-Israel conflict dragged on for a seventh day, boosting demand for the safe-haven asset, although the US Federal Reserve's cautious stance on future interest rate cuts kept gains in check. Spot gold was up 0.2% at $3,374.54 an ounce, by 0505 GMT. US gold futures were down 0.5% at $3,391.90. "Gold has been gaining a bit as we wait for the next move in the Israel-Iran conflict. If the US decides to get directly involved in the conflict, that could raise the geopolitical stakes," said Tim Waterer, chief market analyst at KCM Trade. Geopolitical...
Silver (XAG/USD) oscillated in a narrow range around the $36.75 area during the Asian session on Thursday (June 19) and for now, seems to have stalled the previous day's modest decline from its highest level since February 2012. Meanwhile, the technical setup favors bullish traders and suggests that the path of least resistance for the white metal is to the upside. A sustained strength beyond the $36.45-$36.50 mark confirms a breakout through a short-term descending trend channel, which constitutes the formation of a bullish flag pattern. Moreover, the Relative Strength Index (RSI) on the...
The Japanese Yen (JPY) reversed modest Asian session gains against the broadly stronger USD and remained near monthly lows retested earlier this week. The Bank of Japan's (BOJ) cautious approach to winding down its decade-long monetary stimulus forced investors to push back their expectations about the likely timing of the next interest rate hike to Q1 2026. Additionally, concerns about the potential economic impact of the US's 25% tariffs on Japanese vehicles and a reciprocal 24% levy on other imports turned out to be key factors undermining the JPY. The USD, on the other hand, rose to...
Oil prices fell on Thursday as investors hesitated to take new positions after US President Donald Trump gave mixed signals about the country's potential involvement in the ongoing Israel-Iran conflict. Brent crude futures fell 37 cents, or 0.48%, to $76.33 a barrel by 0110 GMT after rising 0.3% in the previous session marked by high volatility, when prices fell as much as 2.7%. U.S. West Texas Intermediate crude for July fell 28 cents, or 0.37%, to $74.86 a barrel, after rising 0.4% the previous day despite falling as much as 2.4%. The July contract expires on Friday and the more active...
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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