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Crude Oil

Crude Oil

As markets wait for US data, stocks ease and the dollar trembles.

The dollar fell as traders looked to U.S. economic data for more catalysts. Brent crude futures fell more than 2% and U.S. Crude also dropped. The benchmark 10-year Treasury yield reached a new high, partly due to concerns over the budget plan of President Donald Trump that will add trillions to U.S. debt. The week began with a slew of positive news for investors, from a truce in the U.S.-China Trade War to a slew of investment deals that made headlines from the Middle East on Trump's Gulf Tour. These moves breathed new energy into battered international stocks. The optimism...

Crude Oil

As markets wait for US data, stocks drift and the dollar fluctuates.

The dollar fell on Thursday as traders looked to U.S. economic data for more catalysts. The benchmark 10-year Treasury yield reached a new high, partly due to concerns over the budget plan of President Donald Trump that will add trillions to U.S. debt. The week began with a slew of positive news for investors, from a truce in the U.S.-China Trade War to a slew of investment deals that made headlines from the Middle East on Trump's Gulf Tour. These moves breathed new energy into the battered stocks around world. The optimism of Thursday has largely faded, with MSCI's broadest...

Crude Oil

The dollar continues to soften on the back of tariff truces and muted inflation.

The European stock market was little changed after a rally on easing trade tensions. Meanwhile, the dollar continued its losses from the previous day as the relatively benign U.S. Inflation data kept Federal Reserve rates on hold. Stocks in Asia rose overnight, while U.S. futures were flat. The S&P 500 entered positive territory for this year after moving into positive territory on Tuesday. Investors have driven global equity markets higher as a truce appears to be in place in the trade war between China and the United States. Lars Skovgaard is a senior investment strategist with Danske Bank. He added,...

Crude Oil

Wall Street is mixed after US inflation data

The dollar dropped and the major U.S. indexes were mixed Tuesday, after data showed that U.S. consumer prices rose less than expected in March. This was when President Donald Trump announced a series of tariffs which have caused havoc to global markets. On Monday, the U.S. announced that it would suspend its trade war with China for 90 days. It will also reduce reciprocal duties as well as other measures. They will continue to negotiate a permanent agreement. Tuesday's inflation numbers helped fuel this move. The agreement has reignited investors appetite for stocks and commodities, and cryptocurrencies. The MSCI index...

Crude Oil

As the trade deal sugar rush fades, stocks edge up and dollar falls.

The dollar and global stock markets lost momentum on Tuesday as investors' concerns over the impact of the trade standoff between the United States, China and other countries on the global economy grew. The two biggest economies in the world have agreed to a 90-day truce in their trade dispute. They will lower tariffs on both sides and remove other restrictions while they work out a permanent agreement. The agreement reignited investors' appetite for stocks and commodities. Wall Street rallied 3.3% on Monday. On Tuesday, the enthusiasm for the stock market had diminished. European stocks were up by 0.2% at...

Crude Oil

US futures rise on China trade talks

U.S. stocks futures rose and Asian currencies rose as investors welcomed the news that a top-level meeting between U.S. officials and Chinese officials is scheduled for this weekend in Switzerland. This could be a chance to calm down the trade conflict. Scott Bessent, U.S. Treasury secretary, said on Fox News that he believes the goal is to de-escalate. S&P futures gained about 0.9%. This was a recovery from a drop in the cash session, when U.S. president Donald Trump seemed to have struck a more confrontational note. The stock markets of Japan and Australia have both edged up. The dollar...

Crude Oil

Stocks rise on positive jobs data and signs that trade tensions between China and the US may ease

Global stocks rose on Friday, while Treasuries lost favour. This was due to optimism over a easing in U.S.-China tensions as well as better than expected U.S. job data. The MSCI world share index increased by 0.6%, reaching levels it last achieved before its dramatic fall early last month after U.S. president Donald Trump announced his Liberation Day Tariffs. The Friday payroll report showed that U.S. employers hired 177,000 people last month. This was higher than the 130,000 expected. In early trading, the S&P 500 gained 1%, while the Nasdaq rose 0.9%. Investors said that the U.S. unemployment rates would...

Crude Oil

Dollar steadies as US auto tariffs are lifted, but stocks fall

The dollar and stocks both edged up on Tuesday, as the Trump administration softened some tariffs in response to automakers' pressure. This comes ahead of an important week for economic data. Officials said that the U.S. will take steps to reduce the impact on domestically produced cars of foreign parts, and prevent tariffs on imported cars from piling up. The European and S&P500 futures both rose by 0.1%. However, the gains were not significant as China's levies remain high. The Asia session was slowed by a public holiday in Japan. However, the U.S. Dollar rose broadly, even against the Canadian...

Crude Oil

Dollar slips as stocks fall on US-China standoff

The dollar fell to its highest monthly level in years on Tuesday, as investors prepared for the impact of the trade war. The tariffs imposed by Donald Trump have shaken the confidence in U.S. assets. Even though the S&P 500 has recovered much of the early April losses it suffered, the dollar is only able to maintain its current level, with no significant rebound. The situation deteriorated overnight after U.S. Treasury Sec. Scott Bessent said on CNBC that it was up to China to "de-escalate the tariffs", which are currently at 125%, for most U.S. Exports to China. The Asia...

Crude Oil

Stocks rise with tech shares, dollar falls after recent gains

The major stock indexes rose Thursday as investors awaited more developments in the U.S. China trade dispute, and the dollar fell after recent gains. Alphabet is expected to release its quarterly results after the closing bell. Alphabet has been up by 1.9%. S&P's technology sector led all other sectors in the S&P index with gains of about 3%. Donald Trump, the U.S. President, said that on Thursday trade talks were underway between the U.S.A. and China. This was in response to Chinese claims that there had been no discussion about easing the ongoing trade conflict. Beijing said that earlier, the...

Crude Oil

Markets take stock of Trump’s U-turns as the relief rally fades away

Investors struggled to sort through the noise of the Trump administration, its erratic stance on tariffs, and the Federal Reserve leadership. In the past week, U.S. president Donald Trump has attacked Fed chair Jerome Powell, then retracted his calls for resignation. Investors are still unsure about the final state of tariffs against China, despite the many headlines surrounding it. A source said on Wednesday that, in the absence of talks with Beijing, the Trump administration was looking at lowering tariffs for imported Chinese goods. This follows a Wall Street Journal article that suggested that Trump's White House might consider reducing...

Crude Oil

Powell's comments and trade war weigh on the dollar, stocks, and stock prices

The dollar was anchored near three-year lows on Thursday, after Federal Reserve Chairman Jerome Powell warned about the risks of slowing the growth of the economy and increasing prices due to tariffs. After a bruising trading session on Wednesday, the spotlight remained on technology stocks in light of warnings issued by bellwethers Nvidia & ASML and earnings from Taiwanese TSMC. Gold prices, which are considered safe havens, continued to rise, setting yet another record in the early hours of trading on Thursday. Powell's remarks that U.S. growth was slowing led Treasury yields to fall. Stock markets in Asia were hesitant...

Environment

Environment

North and Central China is hit by heatwave

On Tuesday, temperatures above 40 degrees Celsius (104 degree Fahrenheit), scorched northern and central China. Authorities issued heat warnings to farmers and offered assistance to protect their food production. The temperatures in China's Hebei Province, Henan Province, which is a major wheat-producing area known as China's Granary, and Shandong province (in the east) all reached 40 degrees Celsius on Tuesday. Authorities reported that in Zhengzhou and Shahe (both located in Henan Province), the mercury reached its highest level ever for May on Monday. National Meteorological Centre of the United States said that temperatures will continue to rise until Wednesday. Climate...

Environment

Six people killed by heavy rains in China's South, disaster alerts issued

State media reported that heavy rains over the weekend in China's southern Guangdong province and Guangxi affected trains and power supplies, and killed at least six. There were also alerts for geological disasters and severe flooding in certain parts of China. The National Meteorological Centre of China issued several heavy rain warnings from Sunday through Monday in the Jiangxi region, Zhejiang province, Fujian, Guangxi, Guangdong and Guangxi regions, and the northwestern province Xinjiang. The yellow alert, which indicates a high-risk of mountain flooding, was issued for parts of Zhejiang and Fujian. According to Shenzhen Railway authorities, heavy rains on Monday...

Climate Change

Five people killed by heavy rains in China's South, authorities issue disaster warnings

Five people were killed and several others went missing in heavy rains that swept through southern China's Guangdong province and Guangxi Province over the weekend. Authorities had issued warnings about severe rain, mountain floods and geological disasters. The National Meteorological Centre of China issued multiple warnings of heavy rains from Sunday through Monday in the provinces of Jiangxi and Zhejiang as well as Fujian, Guangxi and Guangdong. Xinhua reported that a yellow alert had been issued for parts of Zhejiang and Fujian as well as Guangdong, Guangdong, and Guangxi. This indicates a high risk of flooding in the mountains. China...

Mining

Mineral Resources

Mineral Resources

LME WEEK: Trump, China and tariffs as the metals industry gathers to Asia

The metals industry will gather in Hong Kong to celebrate its annual event. They'll be focusing on the huge amounts of copper that are being diverted from the U.S. because President Donald Trump has threatened to impose tariffs. Trump's attempts to overturn the post-war system of trading have caused metals markets to roil and raised questions about global growth and commodity flows. In February, Trump ordered an inquiry into potential tariffs on copper. Copper is vital to energy transition technologies like electric vehicles and solar panel technology as well as power grid wiring. The possibility that Trump would impose tariffs...

Mineral Resources

After a big sell-off, capital flows back into US-listed China ETFs

In May, major U.S. exchange-traded fund (ETF) trackers of Chinese stocks saw inflows as a U.S./China tariff truce boosted the sentiment following a large sell-off last month. By the Numbers Global investors have bought a total of $401.7 million worth of four major U.S. listed China ETFs – iShares MSCI China, iShares China Small-Cap, KraneShares CSI China Internet, and Xtrackers CSI 300 China A Shares ETF – this month. Data from LSEG Lipper revealed that the outflow was $3.8 billion in April. Lipper's records show that the outflows in April were second to only a $4.4 Billion outflow from November...

Mineral Resources

Congo gold miner suspends operations over tax dispute with M23 rebel administration

Twangiza Mining is a gold mining company operating in the rebel controlled South Kivu Province of eastern Democratic Republic of Congo. According to a letter sent to the entire company, the rebel administration has ordered the suspension of operations. In a letter dated 8 May, the company, managed by Hong Kong registered Shomka Resources informed its employees that they would be forced to stop work immediately. Twangiza Mining has been ordered to suspend operations by the South Kivu Province administration, according to a letter signed by Chao Xianfeng, the General Director. The letter also stated that all equipment and vehicles...

Mineral Resources

Report: China's Ant Group will list its overseas unit in Hong Kong

Chinese media, citing anonymous sources, reported that Ant Group, a subsidiary of China's ecommerce giant Alibaba Group, plans to list Ant International on the Hong Kong Stock Exchange. Caixin reported, citing sources close to the company that Ant was in communication with regulators regarding the possible listing. The report didn't specify whether discussions took place with regulators from China or other countries. Ant International is a Singapore-based company. Alibaba controls 33% of Ant, which was founded by Jack Ma. It runs China's ubiquitous Alipay mobile payment app. Chinese authorities pulled Ant's $37-billion IPO in Shanghai & Hong Kong in 2020....

Mineral Resources

Bright Smart, a $362 million Bright Group acquisition by China's Ant Group, enters the brokerage business

Ant Group, a subsidiary of China's ecommerce giant Alibaba Group is purchasing a controlling stake of $362 million in Bright Smart Securities & Commodities Group. This marks its first acquisition for a securities broker licence. The companies announced in a Friday joint statement that Ant had agreed to purchase a 50,55% stake in Bright Smart at HK$2.81billion ($362.26m). Bright Smart Chairman Yip Mowlum is selling 857.98 millions shares at HK$3.28 per share to Ant Group's Wealthiness & Prosperity holding, which will have to make a mandatory unconditional cash offer for the entire issued shares. Bright Smart shares nearly doubled to...

Mineral Resources

China's premiums soar as Asia gold-discounts in India reach a near-nine-year-high

This week, gold discounts in India reached their highest level in nine years, as record prices discouraged buyers. Premiums in China also rose to an all-time high, leading to increased shipment to the largest bullion buyer in the world. This week, Indian dealers offered a discount The largest discount since July 2016 is up to $80 per ounce, including 6% import duties and 3% sales taxes. The discount last week was up to $74. Prices have increased and jewellery sales are down. Jewellers across the country feel the slowdown as shoppers are not buying the same amount of jewelry they...

Mineral Resources

Sources say that Singapore's SC Capital is in talks with Global Switch to purchase the British data center group.

S ingapore-headquartered real estate investment manager SC Capital Partners has emerged as a potential bidder for British data centre group Global Switch, two people familiar with the matter told . One of the sources said that the firm, which is backed by the global real estate manager CapitaLand Investment is working with advisors to purchase the London-based Jiangsu Shagang Group. The matter is a private one, so both sources requested anonymity. The people cautioned that the talks are still ongoing and will depend on market conditions. The first person who spoke said that the transaction could be valued between $4...

Mineral Resources

China responds to global trade war by imposing sweeping tariffs on U.S. products

China announced an additional 34% tariff on U.S. products on Friday. This is the most significant escalation of a trade conflict with President Donald Trump, which has fueled fears of a worldwide recession and caused a stock market crash. Beijing announced that it had added several U.S. companies to an export control listing and classified others as "unreliable". From Canada to China, nations have prepared retaliation as a trade war escalates after Trump raised U.S. Tariff Barriers to their highest levels in over a century. This led to a drop in the world financial markets. Shigeru Shiba, the Prime Minister...

Mineral Resources

LME fines Access World Access World $77,000 for violating warehouse rules

London Metal Exchange (LME), has taken disciplinary actions against Access World Vlissingen B.V. for breaches of LME warehouse rules that date back to 2022. The company agreed to pay an amount of 60,000 pounds ($77328) as a penalty. The exchange, which is the oldest and largest industrial metals market in the world, announced that a settlement had been reached prior to the institution of any disciplinary proceedings. Four warrants of full-plate nickel cathodes, between October 18, 2022, and November 16, 20,22 were loaded erroneously out of a shed at Access World's Rotterdam office. LME warrants confer ownership. A third party,...

Mineral Resources

Japan Q2 Aluminium drops to $182/T due to weak demand, sources

Six sources involved in the pricing discussions said that the premium for aluminium shipped to Japanese buyers from April to June is $182 per metric ton. This is a 20% drop compared to the current quarter as domestic demand remains weak. This is a lower figure than the $228 paid per ton in January-March and marks the first quarterly decrease in five quarters. However, it is still below the initial offers made by global producers of $245-$260 per ton. Japan is the largest Asian importer for premiums and light metals For primary metal shipments, it agrees to each quarter pay...

Mineral Resources

Asia Gold: High prices of gold surpass interest in buying physical gold in Asian hubs

The gold demand in India was sluggish due to record-high prices, and jewellers busy closing their accounts for the year. Most other Asian hubs saw a similar trend. Harshad Ajmera, a wholesaler at JJ Gold House Kolkata, said that "Jewellers weren't making purchases." India's fiscal year runs from April through March. The domestic gold price hit a new record of 89 796 rupees for 10 grams in the first week of this month. It has risen by nearly 15% since 2025. This week, Indian dealers offered a discount Discounts of up to $33 per ounce on official domestic prices, inclusive...

Mineral Resources

ICE, the parent company of NYSE, plans to introduce battery metals as derivatives in 2019.

An executive at Intercontinental Exchange said that the exchange plans to launch derivatives for battery metals Nickel, Cobalt, and Lithium Spodumene later this year in London. "Our customers are looking to us for products to hedge." "Our role is to ensure that there is a broad range of products," Chris Rhodes said at the FT Global Commodities Summit held in Lausanne, Switzerland. The launch of battery raw materials will begin this year with lithium, cobalt and spodumene. The global exchanges are attempting to capitalize on the expected strong growth in demand of minerals required for electric vehicles and batteries. The...