Angle - News: After the signing of a temporary agreement to end the war between the United States and Iran and the Federal Reserve's decision to hold interest rates steady – how did the markets react to the events?
Amna Assem
Wednesday saw a series of events in the markets that led to a drop in oil and gold prices, following the signing of a temporary agreement between the United States and Iran to end the war.
Despite this, the US president maintained his threats to resume military strikes if Iran does not abide by its commitments. Officials from the US, Iran, Qatar, and other countries are expected to meet – as previously announced – on Friday in Switzerland to discuss ways to implement the agreement.
The US Federal Reserve also announced that it was keeping interest rates unchanged, and confirmed in its statement that the majority of monetary policymakers expect to raise interest rates once later this year, driven by concerns about inflation.
Oil and gold
By 10:30 a.m. on Thursday, UAE time, Brent crude futures were trading at around $77.3 per barrel, and West Texas Intermediate crude futures at around $74.4 per barrel, according to data from the London Stock Exchange Group.
As for spot gold prices, they traded at levels of $4,300 per ounce during the morning.
(Prepared by: Omnia Assem, Edited by: Yasmine Saleh, Contact: zawya.arabic@lseg.com )
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