The dollar firmed slightly on Tuesday, though most currencies held tight ranges as investors remained concerned about ongoing tensions in the Middle East and awaited an upcoming central bank decision. The Bank of Japan concludes its two-day monetary policy meeting on Tuesday, where it is widely expected to keep interest rates steady and consider tapering bond purchases slowly starting next fiscal year. Ahead of the outcome, the yen firmed slightly to 144.70 per dollar, reversing some of its decline from the previous session. "Markets are now refocusing their attention on the usual...
Gold rose on Tuesday as rising geopolitical uncertainty stemming from the Israel-Iran row and U.S. President Donald Trump's call to evacuate Tehran prompted investors to seek safe-haven assets. Spot gold was up 0.4% at $3,396.67 an ounce, by 0239 GMT, after falling more than 1% on Monday. U.S. gold futures were steady at $3,416.30. "Market sentiment continues to fluctuate between escalation and de-escalation regarding events in the Middle East, and it is this shift in sentiment back and forth that is driving gold prices either side of the $3,400 level," said Tim Waterer, chief market...
Oil prices rose on Tuesday amid concerns that the Iran-Israel conflict could escalate, raising the risk of further unrest and potential disruptions to oil supplies from the key Middle East producing region. Brent crude futures rose 34 cents, or 0.5%, to $73.57 a barrel by 0340 GMT. U.S. West Texas Intermediate crude futures rose 29 cents, or 0.4%, to $72.06. Both contracts rose more than 2% earlier in the session. Oil prices fell more than 1% on Monday amid hopes that the conflict would ease after media reports that Iran was seeking to end hostilities. However, concerns grew after U.S....
The Australian Dollar (AUD) recovered its daily losses against the US Dollar (USD) on Tuesday (6/17). However, the AUD/USD pair faced challenges as traders remained cautious amid ongoing geopolitical tensions. However, the risk-sensitive AUD/USD pair gained on optimism after Iran reportedly asked multiple countries, including Oman, Qatar, and Saudi Arabia, to urge US President Donald Trump to use his influence with Israel for an immediate ceasefire, according to Reuters. Additionally, risk sentiment improved as Canadian Prime Minister Mark Carney agreed with Trump that their countries...
The USD/CHF pair weakened to around 0.8135 during the early European session on Tuesday (6/17). Persistent geopolitical risks in the Middle East provided some support to the Swiss Franc (CHF) against the US Dollar (USD). Traders are gearing up for the US Retail Sales data for May, due later on Tuesday. The conflict between Israel and Iran has entered its fifth day despite global calls for negotiations and de-escalation. Late on Monday, US President Donald Trump called for the evacuation of the Iranian capital, Tehran, hours after urging the country's leaders to accept a deal to curb its...