West Texas Intermediate (WTI) – the US oil benchmark – opened Monday with a bang, extending Friday’s 3.5% advance to briefly regain the $100 level.
West Texas Intermediate (WTI) – the US oil benchmark – opened Monday with a bang, extending Friday’s 3.5% advance to briefly regain the $100 level.
In a statement released late Friday, Fitch Ratings cut the Outlook on New Zealand's (NZ) Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at 'AA+'.
In a social media post on Sunday, Mohammad Bagher Qalibaf, Iran’s parliament speaker, threatened financial entities that fund the US military.
The Japanese Yen (JPY) is underperforming against the US Dollar (USD) in the early Asian trades on Monday, despite the Middle East conflict extending into a fourth week, with no signs of de-escalation in sight.
The GBP/USD pair faces some selling pressure near 1.3320 during the early Asian session on Monday, pressured by risk-off sentiment. Ongoing conflicts in the Middle East fuel demand for safe-haven currencies such as the US Dollar (USD) and create a headwind for the major pair.
Gold price (XAU/USD) tumbles to around $4,460 during the early Asian trading hours on Monday. The precious metal remains under selling pressure amid a stronger US Dollar (USD), rising bond yields and concerns about inflation linked to energy prices.
The USD/CAD pair trades on a flat note near 1.3725 during the early Asian trading hours on Monday. Traders will closely monitor the situation in the Middle East. Additionally, traders weigh a hawkish hold from the Federal Reserve (Fed) against a dovish hold from the Bank of Canada (BoC).
The EUR/USD pair loses ground to around 1.1560 during the early Asian trading hours on Monday. The Euro (EUR) weakens against the US Dollar (USD) as heightened geopolitical tensions in the Middle East have spurred volatility and weighed on the riskier assets.
When asked in an NBS News interview on Sunday if President Donald Trump was “winding down” the war or “escalating” it, US Treasury Secretary Scott Bessent said, they are not mutually exclusive. Sometimes you have to escalate to de-escalate.”
Citing two sources familiar with the matter, The Jerusalem Post reported early Monday, the United States (US) is preparing to launch a ground military operation to seize the Iranian island of Kharg.