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 prices climbed on Monday, supported by a weaker dollar as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts, including the Federal Reserve's policy meeting scheduled for next week. Spot gold was up 0.6% at $3,368.39 per ounce, as of 0534 GMT. U.S. gold futures rose 0.5% to $3,376. "Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large," KCM Trade Chief Market Analyst Tim Waterer said. "The closer we move towards the key August 1 deadline without...
Oil prices were little changed on Monday as traders assess the impact of new European sanctions on Russian oil supplies while they also worry about tariffs possibly weakening fuel demand as Middle East producers are raising output. Brent crude futures climbed 6 cents to $69.34 a barrel by 0344 GMT after settling 0.35% lower on Friday. U.S. West Texas Intermediate crude was at $67.51 a barrel, up 17 cents, following a 0.30% decline in the previous session. The European Union approved on Friday the 18th package of sanctions against Russia over the conflict in Ukraine, which also targeted...
Gold prices were little changed on Monday as investors monitored developments in U.S. trade talks and awaited potential market-moving catalysts, including the U.S. Federal Reserve's policy meeting scheduled for next week. Spot gold held its ground at $3,352.19 per ounce, as of 0250 GMT. U.S. gold futures were steady at $3,358.70. "Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large," KCM Trade Chief Market Analyst Tim Waterer said. "The closer we move towards the key August 1 deadline without any...
The Australian dollar depreciated past $0.65 on Monday, extending losses from the previous week, as market sentiment remained subdued ahead of this week's release of the RBA meeting minutes and a speech by Governor Michele Bullock. This followed the RBA's unexpected decision to leave its benchmark interest rate unchanged at 3.85%, contrary to widespread expectations of a 25 bps cut. Nevertheless, economists anticipate a gradual shift toward monetary easing later this year, with current forecasts indicating that the cash rate could decline to around 3.1% by early 2026, supported by a stable...
EUR/USD edges lower after registering gains in the previous session, trading around 1.1620 during the Asian hours on Monday. The pair depreciates as the US Dollar (USD) holds steady, as traders adopt caution due to renewed trade tensions ahead of the US tariff deadline on August 1. However, US Commerce Secretary Howard Lutnick expressed confidence that the Trump administration will secure trade deals with key US trading partners in the coming weeks before steep tariffs kick in for dozens of countries. "The next two weeks are going to be weeks for the record books. President Trump is going...
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.
In...