United States (US) President Donald Trump and Russian President Vladimir Putin concluded an initial face-to-face meeting in Alaska late Friday, with both parties delivering mutually inconclusive statements. Trump and Putin both delivered vague promises of "progress" on multiple fronts, but initial details remain light. Now, President Trump will be pivoting to hand-delivering Russia's peace proposals on Ukraine to both the Ukrainian and European Union government bodies. Key Putin highlightsMeeting has been long overdue.Ukraine situation was one of key issues.Ukraine war is a tragedy, great...
Australian Dollar (AUD) recovers its losses from the previous session against the US Dollar (USD) on Monday. The AUD/USD pair held firm following the People's Bank of China's (PBoC) decision to keep its Loan Prime Rates unchanged, maintaining the one-year rate at 3.10% and the five-year rate at 3.60%. The AUD/USD pair gained support as the USD weakened amid growing concerns over the economic fallout from US tariffs. The AUD was further buoyed after US President Donald Trump announced exemptions for key technology products — many of which are made in China, Australia's top trading partner...
GBP/USD pair extends its upside to near 1.3350 during the early Asian session on Monday. The uptick of the major pair is bolstered by the softer US Dollar (USD) broadly as traders become increasingly confident that the economic policies of US President Donald Trump will lead the economy to a recession. UK Prime Minister Keir Starmer and US President Donald Trump discussed "ongoing and productive" trade talks in their first call since Trump imposed tariffs on UK goods. According to a Downing Street official, Starmer emphasized his commitment to "free and open trade and the importance of...
Gold price drifts higher to a fresh record high near $3,375 in the Asian session on Monday after facing some profit-taking due to the long weekend. Uncertainty about US President Donald Trump's tariff policies and persistent geopolitical tensions continue to underpin the precious metal. Gold price retreated further from its record high on Thursday, trading as low as $3,284.10 early in the American session. The US Dollar (USD) maintained its bearish bias against all major rivals throughout the day, with XAU/USD easing on the back of profit-taking. The pair, however, bounced from the mentioned...
The US dollar index fell to around 98.6 on Monday, marking a fresh three-year low, as growing concerns over the Federal Reserve's independence weighed on sentiment. The drop followed President Donald Trump's renewed threats to dismiss Fed Chair Jerome Powell, stating last week that Powell's removal "cannot come fast enough" while pressuring the central bank to cut interest rates. The remarks added to market unease surrounding escalating trade tensions and policy uncertainty under the Trump administration. Over the weekend, Chicago Fed President Austan Goolsbee warned that tariffs could cause...
EUR/USD pair breaks out through a multi-day-old trading range and touches a fresh high since February 2022, around the 1.1485 area during the Asian session on Monday. The momentum is sponsored by the bearish sentiment surrounding the US Dollar (USD), which supports prospects for an extension of the recent well-established uptrend. Despite hawkish comments from Federal Reserve (Fed) Chair Jerome Powell, the uncertainty over US President Donald Trump's trade policies continues to undermine the Greenback. Powell said last Wednesday that the Fed is likely to keep its benchmark interest rate...