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Forex

Trump's Ceasefire Announcement Crushes Oil, Boosts Stocks

Guavy AI Editorial Team
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AUD
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Oil prices plummeted on Wednesday as US President Donald Trump announced a two-week ceasefire in the Middle East, paving the way for a lasting peace agreement and resumption of Gulf oil and gas exports.

The move sent shockwaves through financial markets, with S&P 500 futures jumping 1.6% and the dollar falling broadly. US crude futures fell around 9% to $103 a barrel.

The ceasefire announcement triggered a rally in stocks and cryptocurrencies, with the risk-sensitive Australian dollar rising more than 0.8% to above 70 U.S. cents.

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