Oil prices fell on Tuesday after Ukraine's President Volodymyr Zelenskiy agreed to a truce with Russia covering the Black Sea and energy infrastructure, though crude losses were limited by the prospect of global supply tightening due to threatened U.S. tariffs on countries buying Venezuelan production. Brent crude futures were down 15 cents, or 0.21%, at $72.85 a barrel by 1:14 pm ET (1714 GMT). U.S. West Texas Intermediate crude fell 25 cents, or 0.36%, to $68.86. Zelenskiy said the truce was effective immediately on Tuesday but added that he would seek more weapons from U.S. President...
The Pound Sterling (GBP) is advancing against the US Dollar (USD) on Tuesday due to an upbeat market mood as traders are relieved of United States (US) reciprocal tariffs, which are expected to be targeted on some of the US trading partners. This weakened the Greenback as seen by GBP/USD trading at 1.2950, up 0.22%. Sterling edges higher to 1.2950 amid calm markets, though looming inflation data and budget risks cap gainsThe economic docket is empty on both sides of the Atlantic, with traders eyeing the release of United Kingdom (UK) inflation figures on Wednesday and the UK Spring Budget....
The USD/JPY pair is falling significantly to near 149.70 during North American trading hours on Tuesday. The pair tumbles as the Japanese Yen (JPY) outperforms its peers on expectations that the Bank of Japan (BoJ) will raise interest rates again this year. BoJ Governor Kazuo Ueda signaled on Monday that monetary policy adjustments would become appropriate if the central bank achieves its 2% inflation target. Meanwhile, optimism about more wage hikes has also boosted BoJ hawkish bets. Last week, Japan's largest trade union group, Rengo, showed that firms agreed to raise pay growth by 5.4%...
Gold price advances on Tuesday as the US Dollar (USD) remains on the back foot and amid falling US real yields, which typically correlate inversely to bullion prices. An unexpected rise in inflation expectations, spurred by US trade policies, boosted demand for the yellow metal, which is gaining 0.26%, trading at $3,018. The market mood is mixed, with US equity indices split between gainers and losers. US data revealed that Consumer Confidence fell to its lowest level in more than four years as households fear a future recession amid elevated inflation readings, according to the Conference...
The US Dollar Index (DXY) is experiencing mixed performance on Tuesday, trading around the middle of the 104.00 zone. Earlier in the day, the Greenback found support on stronger services activity and signs that proposed tariffs may be more targeted than feared. However, uncertainty returned as new headlines from US policymakers tempered the optimism. The evolving rhetoric on inflation and trade created a back-and-forth movement in the DXY, now grappling with nearby resistance. From a technical standpoint, the Moving Average Convergence Divergence (MACD) prints a mild buy signal, while the...