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 US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after losing more than 0.50% in the previous session and trading at around 97.90 during the Asian hours on Tuesday. Market caution deepened amid rising uncertainty over impending tariffs and increasing worries about the Federal Reserve's (Fed) independence. US Commerce Secretary Howard Lutnick stated unequivocally in a televised interview, "That's a hard deadline, so on August 1, the new tariff rates will come in. Nothing stops countries from talking to us after August...
Gold prices edged down to around $3,380 on Tuesday but remained close to a five-week high reached in the previous session, amid lingering uncertainty ahead of President Donald Trump's August 1 tariff deadline. Attention is now on the EU-US trade negotiations this week, as they seek to clinch a trade deal before the deadline, when Trump has threatened to hit most of the bloc's exports with 30% tariffs. Meanwhile, the bloc is preparing a broader set of possible countermeasures against the US in a scenario where there is no agreement. On the monetary policy front, the European Central Bank is...
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Tuesday after two days of losses. The AUD/USD pair remains subdued following the release of the Reserve Bank of Australia's (RBA) Meeting Minutes. The RBA Minutes of its July monetary policy meeting highlighted that the board agreed further rate cuts warranted over time, with attention centered on timing and extent of easing. The majority believed to await confirmation on inflation slowdown before easing. Most members felt cutting rates three times in four meetings would not be "Cautious and gradual." Traders are...
The Japanese yen hovered around 147.5 per dollar on Tuesday after gaining about 1% in the previous session, as investors continued to digest the weekend's election outcome. While the ruling coalition lost its majority in the upper house, the result was largely priced in. Crucially, Prime Minister Shigeru Ishiba is expected to stay in office, easing fears of political instability or a sudden resignation. Ishiba reiterated his commitment to overseeing ongoing tariff talks with the US and managing other key policy matters. Meanwhile, opposition parties are expected to push for increased...
Gold held near the highest in a month, as risk-off sentiment returned among investors watching the progress of trade negotiations ahead of US President Donald Trump's Aug. 1 tariff deadline. Bullion traded near $3,395 an ounce after closing 1.4% higher in the previous session, as concerns about Trump's next trade moves reignited demand for havens. White House Press Secretary Karoline Leavitt on Monday said the president may issue more unilateral tariff letters before Aug. 1. The dollar had its worst day in nearly a month, making gold cheaper for most...
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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