The Australian dollar (AUD) strengthened against the US dollar (USD) on Tuesday (6/24), extending its gains for the second straight session. The AUD/USD pair strengthened after US President Donald Trump said a ceasefire had been agreed between Iran and Israel. Trump said that a "complete and total" ceasefire between Israel and Iran would be in place to end the conflict between the two countries. Iran fired missiles at Al Udeid Air Base in Qatar on Monday. Qatari officials said the missiles were intercepted and the base had been evacuated in advance. Trump announced Saturday night that he...
The GBP/USD pair gained traction around 1.3560 during the early European session on Tuesday, supported by a weaker US Dollar (USD). Traders will be eyeing Bank of England (BoE) Governor Bailey's speech, along with Federal Reserve (Fed) Chairman Jerome Powell's semi-annual testimony later on Tuesday. Federal Reserve (Fed) Governor Michelle Bowman said on Monday that she would support a rate cut at the next policy meeting in July as long as inflationary pressures remain contained. Bowman's comments echoed those of Fed Governor Christopher Waller, who said on Friday that he believes the US...
The USD/CHF pair remained pressured for the second straight day and dropped to its lowest level in over a week during the Asian session on Tuesday (6/24) amid a weaker US Dollar (USD). However, the spot prices lacked any follow-through selling and managed to hold above the 0.8100 mark. Traders increased their bets for a potential interest rate cut by the Federal Reserve (Fed) in July following the release of mixed US PMIs and dovish-sounding remarks from influential FOMC members on Monday. Moreover, optimism led by US President Donald Trump's announcement that Israel and Iran have agreed to...
Gold (XAU/USD) prices maintained its bid tone through the Asian session and is currently trading just above the near two-week low touched on Tuesday morning. The renewed optimism fueled by US President Donald Trump's announcement that a ceasefire has been brokered between Iran and Israel turned out to be a key factor that dented the demand for the precious metal as a safe haven. However, the prevalent selling bias in the US Dollar (USD) could provide some support to the commodity and help limit further losses. Mixed US PMI data and dovish remarks from Federal Reserve (Fed) officials...
Oil fell as U.S. President Donald Trump announced a ceasefire between Iran and Israel. Brent futures plunged more than 5%, falling below $68 a barrel, as Israel said it had agreed to the move. The decline — which followed a volatile session on Monday that ended with a sharp loss — took prices below levels seen on June 12, the day before Israel attacked Iran. Gold fell as demand for safe-haven assets declined. In a move that would lower the risk premium on crude, Trump first said that Israel and Iran had agreed to a "total ceasefire," according to a Truth Social post, then followed up by...