East Asia

On Wednesday, global shares were mixed, with European shares declining and most major Wall Street indexes gaining, while U.S. Treasury yields mostly increased. U.S. president Donald Trump has issued an executive directive imposing an extra 25% tariff on goods coming from India. He claims that the country imported Russian oil. After four days of falling oil prices, the tariffs and an unexpectedly large draw on U.S. crude oil lifted oil price. The MSCI index of global stocks rose by 0.22%, to 929.26. The Dow Jones Industrial Average fell 0.14%, to 44,049.38. Meanwhile, the S&P500 edged up by 0.11%, to 6,306.23,...

The dollar was weighed down by lower bond yields, as well as weak U.S. economic data, on Wednesday. Data released on Tuesday showed that the U.S. service sector activity was flat in July. Input costs and employment have risen by nearly three times in the last year, highlighting the impact of President Donald Trump’s tariff policy. The second-quarter results revealed the impact of Trump's tariffs. Taco Bell's parent company Yum Brands missed earnings expectations due to steep trade duties that dent consumer spending. Caterpillar also warned of tariffs costing it up $1.5 billion in the second quarter. The report paints...

Investors raised their bets that the Federal Reserve will act to support the world's biggest economy. Global stocks rose for the second session of the day on Tuesday. U.S. stocks rallied Monday, boosted by generally positive earnings reports. Bets on a Fed rate cut in September increased after Friday's disappointing jobs report. The oil prices fell after OPEC+ increased their output, and gold was hovering near a week-high. Rodrigo Catril is a senior currency strategist with National Australia Bank. He said that there are signs of weakness within the U.S. The STOXX 600 index rose 0.4% to start the day...

Investors raised their bets that the Federal Reserve will act to support the world's biggest economy. Global stocks rose again on Tuesday. U.S. stocks rallied Monday, boosted by generally positive earnings reports. Bets on a Fed rate cut in September increased after Friday's disappointing jobs report. The oil prices fell after OPEC+ increased their output, and gold was hovering near a week-high. Rodrigo Catril is a senior currency strategist with National Australia Bank. He said that there are signs of weakness within the U.S. The STOXX 600 index rose 0.4% to start the day in Europe. This is the second...

The U.S. Dollar steadied on Tuesday as investors bet that the Federal Reserve would act to support the largest economy in the world. U.S. stocks rallied Monday, boosted by generally positive earnings reports. Bets on a Fed rate cut in September increased after Friday's disappointing jobs report. The oil prices fell after OPEC+ increased their output, but gold remained near a week-high and Vietnamese stocks reached a record high. Rodrigo Catril is a senior currency strategist with National Australia Bank. He said that there are signs of weakness within the U.S. The broadest MSCI index of Asia-Pacific stocks outside Japan...

The global stock market remained negative on Friday, after weaker-than-expected U.S. employment data led markets to increase their bets that the Federal Reserve would cut rates. This followed earlier losses caused by U.S. president Donald Trump's latest trade war salvo. Nasdaq and S&P futures fell about 1% following the data release, roughly in line with their previous levels. The pan-European STOXX 600 dropped 1.4%. This brings its weekly decline to around 2%, and puts it on course for its largest weekly drop since Trump's first major tariff wave on April 2. According to a survey by economists, the U.S. economy...

Stella Qiu gives us a look at what the future holds for European and global markets. The deadline for tariffs has passed and Donald Trump has imposed new levies on imports, including from countries that have not yet signed a trade agreement. Canada was set at 35%, India at 25%, Taiwan at 20%, and Thailand, 19%. Switzerland received a staggering 39%, one of the highest rates. This raises the question: What does Trump have against the Swiss people? You're not buying enough American watches or chocolate? After months of posturing and meetings, delays, and truces that prompted investors to wonder...

U.S. Futures outperformed other markets on Thursday as traders considered a range of economic indicators, including central bank rate decisions and inflation data, in addition to last-minute talks about a trade agreement ahead of U.S. president Donald Trump's deadline of August 1. Next, we will look at the U.S. PCE Inflation data, which is the Federal Reserve's preferred measure. This data will be analyzed for any signs of Trump's policy on inflation. Jerome Powell, the Fed's chair, said that it would be necessary to wait until more data is available before making any further moves. Further information Trump's criticism on...

Trade sources say that Asia will increase imports of U.S. West Texas intermediate crude in the fourth-quarter after Middle East oil price increased and opened arbitrage window. They said that the price gap between light-sweet U.S.WTI oil and Middle East crude benchmarks Dubai & Murban has narrowed this month due to strong demand in Asia for high-sulfur oil. WTI's Arbitrage to Asia has been open for the last week for cargoes that arrive in early November. This was stated by June Goh, senior analyst at Sparta Commodities. Sources said that U.S. oil producer Occidental sold WTI crude to Japanese refiner...

Asian stocks fell on Thursday due to weaker than expected Chinese data and a drop in copper prices. The yen, however, firmed up after the Bank of Japan increased its inflation forecast and kept rates unchanged. The revised forecast indicated cautious optimism that Japan’s trade agreement with the U.S. will help the economy avoid a sharp downturn, and set the BOJ's interest rate hike later in the year. The yen rose 0.6% to 148.62 dollars per yen immediately after the central banks unanimously maintained short-term rates at 0.5%. The Japanese stock market showed no reaction to this decision, with the...

Asian stocks fell on Thursday, after weaker than expected Chinese data and a drop in copper prices. Investors also weighed the impact of a new trade agreement between South Korea & the U.S. Investors weighed the Federal Reserve's decision to keep rates unchanged and megacap tech companies' strong earnings when determining whether or not to buy the dollar. Nasdaq Futures soared 1.2% after Microsoft and Meta Platforms reported earnings that were better than expected. S&P futures rose 0.8% while the U.S. Dollar held steady following a two-month peak. Tony Sycamore is a market analyst with IG Sydney. He said that...

Scott Bessent, U.S. Treasury secretary, warned Chinese officials on Tuesday that continuing to buy Russian oil sanctioned by Congress would result in large tariffs. However Beijing assured him that it would protect its energy independence. Bessent, who wrapped up two days in Stockholm of U.S. China trade talks, expressed U.S. disappointment at China's continuing purchases of Iranian oil sanctioned by the United Nations, as well as its sales to Russia of more than $15 billion of dual-use technologies that aided Moscow's conflict against Ukraine. Bessent stated that legislation passed by the U.S. Congress allowing Trump to impose tariffs of up...

China's steel imports increased in July. This continued a record-breaking trend despite countries erecting trade barriers to prevent a flood of Chinese products. Data from the General Administration of Customs on Thursday showed that steel exports rose by 1.7% in July from June, to 9.84 metric tons. This brings total exports for this year to 67.98 metric tons. The total for the year is at its highest level since 1990. Steel exports by the largest steel producer in the world have led to a global protectionist backlash. Since January of last year, almost 40 countries have launched anti-dumping investigations. Vietnam...

Official data released on Wednesday showed that Brazil exported 41.1 millions metric tons (metric tons) of iron ore during July, breaking its previous record of 39.5 million tons, set in December 2015. Why it's important Brazil is the second largest exporter of iron after Australia. Brazil exports iron ore, along with soybeans and oils. Brazil reported a trade surplus of $7.1 billion for July, a 6.3% decline from the previous year. By the Numbers Brazilian iron ore exports, led by Vale, grew 4.7% from July last year. However, revenues fell 8.8%, to $2.62billion, as prices dropped about 13%. KEY QUOTE...

Iron ore futures fell on Wednesday as investors shifted their focus from iron ore to coking coal due to concerns about the demand for iron ore in China, its largest consumer. As of 0712 GMT, the benchmark September iron ore traded on Singapore Exchange fell 0.7% to $100.75 per metric ton. The daytime trading price of the most traded September iron ore contract at China's Dalian Commodity Exchange was 794.5 Yuan ($110.52) per ton, down by 0.06%. Cao Ying is a Beijing analyst with broker SDIC Futures. She said that the buying in the spot market has been weak because...

Iron ore futures fell on Wednesday as investors shifted their focus from iron ore to coking coal due to concerns about the demand for the commodity in China, its largest consumer. As of 0205 GMT, the benchmark September iron ore traded on Singapore Exchange fell 0.56% to $100.91 per metric ton. The price of the most traded September iron ore contract at China's Dalian Commodity Exchange was unchanged, at 795.5 Yuan ($110.65). Cao Ying is a Beijing analyst with broker SDIC Futures. She said that the buying in the spot market has been weak because mills are hesitant to stockpile...

The gold price held steady Tuesday, as the dollar strengthened and countered bets on a rate cut in the United States. Market participants were waiting for President Trump to announce his new Federal Reserve appointments. By 0947 am, spot gold had risen 0.1% to $3,376.80 an ounce. After reaching its highest level in over a year on Monday, ET (1347 GMT), gold prices rose 0.1% to $3,376.80 per ounce. U.S. Gold futures rose also 0.1% to $3,430. Gold priced in greenbacks is now more expensive for foreign buyers due to the dollar's 0.2% increase. Bob Haberkorn is a senior market...

The dollar rose on Tuesday, but gold prices were still near their two-week highs on the back of growing expectations that U.S. rates will be cut in September. By 0919 GMT, spot gold was down 0.2%, at $3,365.45 an ounce. Bullion reached its highest level since July 24 at $3,385.29. U.S. Gold futures were unchanged, at $3.423.20. The dollar index increased by 0.2%, from the one-week low reached earlier in session. This reduced gold's appeal for other currency holders. U.S. data released on Friday revealed that employment growth in the United States was slower than expected in July. Payroll revisions...

Gold edged higher on Tuesday for a 4th session, supported by a weaker dollar and lower Treasury yields. Weaker-than-expected U.S. job data boosted expectations of a September rate cut. As of 0239 GMT, spot gold rose 0.1% to $3375.89 an ounce. U.S. Gold Futures gained 0.1%, reaching $3,430.40. Dollar index was near its lowest level in a week, making gold more accessible to holders of currencies other than the dollar. The yield on 10-year Treasury notes, the benchmark note, fell to a new low. OANDA Senior Market Analyst Kelvin Wong stated that "short-term momentum for the bullish story has improved...fundamental...

Iron ore futures rose for the third consecutive session on Tuesday. This was aided by a resilient short-term demand from China, a major consumer. However, expectations of a possible steel production limit ahead of Beijing’s main event limited gains. As of 2100 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange was trading 0.38% higher. It was 792 yuan (US$110.33) per metric ton. The benchmark iron ore for September on the Singapore Exchange rose 0.3% to $101.5 per ton. Analysts at Shengda Futures, a broker, said that iron ore fundamentals remained strong due to a firm...

Prices of copper rose on Monday, mainly due to supply concerns following a deadly mining accident in Chile, which is the world's largest producer. However, gains were limited by worries about the global economy. In open-outcry official trading, three-month copper at the London Metal Exchange rose 0.6% to $9.685 per metric ton, adding to Friday's modest gains. LME copper is up by a fifth from its low of over 16 months, reached in April. However, it has fallen back from an early July high of more that $10,000. U.S. Comex Copper Futures increased by 0.1% to $4.44 a lb. Last...

Mitsubishi Materials, Japan's copper concentrate processor, is looking at reducing the amount of copper concentrate processed in its Onahama Smelter & Refinery due to falling treatment and processing costs (TC/RCs), it announced on Monday. JX Advanced Metals, a competitor, announced in June that it would also consider reducing copper production due to the significant decline in ore purchasing terms. Mitsubishi Materials warned that the worsening TC/RCs of miners would further reduce smelting profits. The company stated that in order to maintain and improve profits, it was necessary to increase the proportion of recycled raw materials. It also needed to accelerate...

Japanese trading house Mitsubishi posted a net loss of 203.1 billion Japanese yen (about $1.4 billion) for the three-month period ending June 30. This was down 43% compared to a year earlier, but still beat analysts' expectations. A LSEG survey of analysts predicted that the company would post a net profit of 180.3 billion yen for its first quarter. Mitsubishi's net profit for the same period in last year was 354.4 billion yen. The company reported that this year's profit was down mainly due to the lack of gains from asset sale and the lower prices of the Australian steelmaking...

The dollar fell on Monday as a result of weaker than expected U.S. employment data. This boosted the odds for a Federal Reserve rate cut in September. As of 0712 GMT, the London Metal Exchange reported that three-month copper was up 0.5%, at $9,673 a metric ton. The Shanghai Futures Exchange's most traded copper contract rose 0.1%, to 78.330 yuan (10,915.70 dollars) per ton. The dollar index dropped 0.4% against a basket rival currencies, after the dismal U.S. employment report and President Donald Trump's firing of a senior labour official stunned investors. They then increased their bets on imminent Fed...