US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
Oil prices fell on Tuesday after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. Brent crude futures fell 29 cents, or 0.4%, to $68.92 a barrel by 0342 GMT, while U.S. West Texas Intermediate crude futures fell 35 cents, or 0.5%, to $66.63. Both contracts settled more than $1 lower in the previous session. "Trump's milder stance on sanctions over Russian oil eased fears of a supply crunch while his tariff plan continues to mount economic pressures," said Priyanka Sachdeva, senior market analyst at...
The USD/CHF pair trades on a negative note near 0.7965 during the early European session on Tuesday. Persistent trade-related uncertainties and geopolitical risks boost the safe-haven flows, supporting the Swiss Franc (CHF). The US consumer inflation figures will take center stage later on Tuesday. Bloomberg reported late Monday that US President Donald Trump threatened to impose 100% tariffs on Russia if President Vladimir Putin does not agree to a deal to end his invasion of Ukraine in 50 days. Trump further stated that the levies would come in the form of secondary tariffs, without...
The GBP/USD pair consolidates near the 1.3430-1.3435 region, just above a three-week low touched during the Asian session on Tuesday as traders keenly await the release of the US consumer inflation figure. Meanwhile, the fundamental backdrop seems tilted in favor of bears and suggests that the path of least resistance for spot prices is to the downside. The disappointing macro data released from the UK last week reinforced bets that the Bank of England (BoE) could cut interest rates again in August. This marks a significant divergence in comparison to diminishing odds for an immediate rate...
Gold inched higher on Tuesday, ahead of the release of U.S. inflation data later in the day that could shed more light on the Federal Reserve's interest rate path. Spot gold was up 0.1% at $3,346.94 per ounce, as of 0151 GMT. U.S. gold futures were flat at $3,355.60. "Gold has shown in the past that it is an asset of choice when tariff tensions are ratcheted up, and the precious metal's move towards $3,350 is evidence of this pattern playing out again," KCM Trade Chief Market Analyst Tim Waterer said. "However, higher treasury yields and USD appreciation have created headwinds...For gold...
Oil prices edged lower in Asian trade on Tuesday as markets weighed U.S. President Donald Trump's 50-day ultimatum for Russia to end the Ukraine war and threats of sanctions on buyers of its oil. Traders also digested a flurry of Chinese economic data on Tuesday, including second-quarter GDP, industrial production, retail sales, and other key indicators. As of 21:56 ET (01:56 GMT), Brent oil futures expiring in September ticked down 0.2% to $69.06 per barrel, while West Texas Intermediate (WTI) crude futures fell 0.3% to $66.79 per barrel. After an initial rally, oil prices closed nearly...