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...
Gold fell on Monday as investors weighed the impact of the ongoing Israel-Iran conflict, while also focusing on the Group of Seven leaders meeting and the Federal Reserve policy decision later this week. Spot gold fell 0.5% to $3,415.36 an ounce, as of 0854 GMT, after hitting its highest level since April 22 earlier in the session. U.S. gold futures were down 0.5% to $3,434.50. "Geopolitical tensions are not disappearing near term, as well rates are likely to be cut further by the central bank, so that should provide a floor to gold," said Giovanni Staunovo, an analyst at UBS. Iranian...
The dollar index pared early gains to trade around 98 on Monday, hovering near its lowest levels since 2022, as traders dialed back some risk-off positioning while closely watching developments in the Israel-Iran conflict. The two nations continued to exchange attacks for a fourth consecutive day, defying international calls for de-escalation. Investors are also looking to the G7 summit for potential responses to global flashpoints, including the crises in the Middle East and Ukraine, as well as ongoing trade tensions. Meanwhile, attention is turning to a busy week of monetary policy...
Gold rose to a near two-month high on Monday, as escalating clashes between Israel and Iran over the weekend stoked fears of a wider regional conflict, prompting investors to turn to safe-haven assets. Spot gold was little changed at $3,428.89 an ounce, at 0508 GMT, after hitting its highest since April 22 earlier in the session. U.S. gold futures fell 0.1% to $3,448.10. "The compounding political risk premium that has risen due to the current Iran-Israel conflict has boosted safe-haven demand for gold," said Kelvin Wong, senior market analyst, Asia Pacific at OANDA. "Currently, prices...
The USD/CHF pair strengthened around 0.8125 during the early European session on Monday (6/16), supported by a rebound in the US dollar (USD). Investors await the Swiss May Producer and Import Prices and SECO Economic Forecast, due to be published on Monday. Friday's stronger-than-expected US economic data lifted the greenback against the Swiss franc (CHF). The University of Michigan Consumer Sentiment Index improved to 60.5 in June, compared to 52.2 in the previous reading. The reading was stronger than the expected reading of 53.5. Meanwhile, the US Dollar Index (DXY), a gauge of the...
Oil prices were volatile on Monday, after jumping 7% on Friday, as fresh attacks by Israel and Iran over the weekend raised concerns that fighting could spread across the region and significantly disrupt oil exports from the Middle East. Brent crude futures rose 64 cents, or 0.86%, to $74.87 a barrel by 0507 GMT, while U.S. West Texas Intermediate crude rose 76 cents, or 1.04%, to $73.74. Oil prices had jumped more than $4 a barrel earlier in the session and also briefly dipped into negative territory. Both benchmarks closed 7% higher on Friday, after jumping more than 13% during the...