European stocks closed sharply higher on Wednesday, their highest in two weeks as the outlook of lower interest rates in the United States and the possibility of lower energy prices supported a backdrop of stronger growth in the bloc. The STOXX 50 gained 1% to 5,390 and the STOXX 600 jumped 0.6% to 551. The heavyweight sectors of banks, luxury, and tech were among the largest gainers of the session with Intesa Sanpaolo, LVMH, Kering, SAP, and Prosus jumping between 4% and 1.5%. Healthcare also closed sharply higher following their volatile momentum in the first half of the month, with...
The EUR/USD is trading practically flat on Wednesday, just below a multi-year high near 1.1640, last seen in November 2021, consolidating gains after a nearly 1.40% rally in the previous two days. A moderate appetite for risk continues to drive markets, despite the fragility of the ceasefire between Israel and Iran, and is keeping the safe-haven US Dollar (USD) on its back foot. Oil prices have ticked up from Tuesday's lows butt remain well below the highs seen last week. Iran's Oil and Natural Gas facilities seem to have been little affected by the bombings, and Oil traffic through the...
Gold prices edged higher on Wednesday, supported by a pullback in the U.S. dollar and Treasury yields, as markets monitored the fragile truce between Israel and Iran. Spot gold was up 0.2% at $3,330.99 per ounce, as of 0658 GMT, after hitting on Tuesday its lowest level in more than two weeks. U.S. gold futures rose 0.3% to $3,345.00. The dollar index (.DXY), opens new tab hovered near a one-week low, making greenback-priced bullion more attractive for other currency holders. The benchmark 10-year Treasury yields remained near a more than one-month low. "The technical selling of the...
The US dollar struggled to regain lost ground on Wednesday as investors decided to take on more risk after a fragile ceasefire between Israel and Iran. Markets cheered and global stock indexes hit record highs overnight as a shaky truce brokered by US President Donald Trump held sway between Iran and Israel. Both countries signaled that their air war was over, at least for now, after Trump publicly rebuked them for violating the truce he declared. Investors sold the US dollar heavily after the news, having flowed into the safe-haven currency during the 12-day war between Israel and Iran...
The USD/CHF pair hit a fresh more than a decade low near 0.8034 during the Asian trading hours on Wednesday (6/25). The Swiss Franc pair faced sharp selling pressure as the US Dollar (USD) continued to underperform against its peers following the ceasefire between Israel and Iran. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, appears vulnerable near weekly lows around 98.00. The ceasefire agreement between Israel and Iran has reduced the demand for the US Dollar as a safe-haven asset. On Monday, the US Dollar strengthened sharply after the...
Gold rose on Wednesday as the U.S. dollar and Treasury yields fell, while market participants monitored a fragile ceasefire between Israel and Iran. Spot gold was up 0.2% at $3,328.89 an ounce, as of 0250 GMT, after hitting a more than two-week low on Tuesday. U.S. gold futures rose 0.3% to $3,343.00. The dollar index (.DXY), opens new tab , hovered near a one-week low, making bullion more attractive to holders of other currencies. The benchmark 10-year Treasury yield remained near a more than one-month low. "Technical selling in the U.S. dollar and weaker U.S. Treasury yields have...