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Crude Oil

Crude Oil

Asian shares follow Wall Street lower as dollar rangebound

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...

Crude Oil

Dollar steadies as Fed rate-cut bets boost Asian shares

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...

Crude Oil

US futures gain on earnings, but yen reverts post-BOJ gains

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...

Crude Oil

Asian stocks fall on weak China data and yen firms following BOJ decision

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...

Crude Oil

Euro firms and stocks rise after US-EU trade deal

The euro strengthened on Monday, after a US-EU trade agreement lifted the mood and provided some clarification in the week of important policy meetings between the Federal Reserve Bank of Japan and the Federal Reserve. A week after agreeing on a trade agreement with Japan, which lowered proposed auto import tariffs, the U.S. has struck a framework deal with the European Union. The U.S. will impose a 15% tariff on the majority of EU goods, half the rate that was threatened. The U.S. president Donald Trump has set a deadline of August 1, and countries are scrambling for trade deals...

Crude Oil

Nikkei rally boosts Asian shares after Trump announces Japan Trade Deal

Japanese shares led a rally in the Asian share markets on Wednesday, after U.S. president Donald Trump announced that he had signed a trade agreement with Japan. This fueled hopes for more deals to follow. It also offset mixed U.S. earnings which highlighted the drags of higher tariffs. Trump announced late Tuesday a trade agreement with Tokyo, which he claimed will see Japan invest $550 billion in the United States while paying a reciprocal 15% tariff. The deal came after an agreement reached with the Philippines, where the U.S. will collect a tariff of 19% on all imports. Norihiro Yamaguchi...

Crude Oil

Global shares rise as US consumer confidence holds steady, but yen falls ahead of Japan's vote

The global shares are on track to gain weekly gains this Friday, as strong U.S. corporate earnings and economic data released in the last week have tempered concerns about tariffs for now. Meanwhile, the yen is heading towards a second consecutive weekly loss before a crucial legislative election on Sunday in Japan. The S&P 500 closed at a record high on Thursday, thanks to stronger than expected retail sales data and claims for unemployment benefits, which suggest modest improvements in the economy. MSCI's global stock index edged up by 0.2% on the Friday, and is on track to gain 0.6%...

Crude Oil

European stocks are mixed as they await more U.S. inflation figures

Investors were cautious on Wednesday as European stocks were mixed after U.S. data from the previous session suggested that tariffs are causing inflation. This led investors to reduce their bets for rate cuts, and tariff-related uncertainties kept them cautious. Wall Street fell on Tuesday night and U.S. Treasury rates rose as U.S. Consumer Price Data for June showed higher prices for certain goods. The U.S. Tariff Threats also affected the market sentiment, after President Donald Trump said on Tuesday that letters informing smaller countries about their U.S. Tariff Rates would be sent out shortly. Trump announced on Saturday that he...

Crude Oil

Dollar soars as Fed rate cuts bets are lowered, causing Asia shares to struggle

The Asian stock market was under pressure Wednesday, while the dollar rose to its strongest level against the yen in early April. This is after U.S. Inflation suggested that tariffs were pushing up prices, reducing expectations of Federal Reserve policy ease. The yield on U.S. Treasury bonds reached its highest level in over a month. This lifted the dollar, especially against the yen. Tech shares, however, remained resilient after a 4% rise in the artificial intelligence darling Nvidia over night. Brent crude has remained at $69 per barrel. The data released on Tuesday shows that U.S. consumer price rose by...

Crude Oil

Dollar soars as Fed rate cuts bets are lowered, causing Asia shares to struggle

The Asian stock market was under pressure Wednesday, while the dollar rose to its strongest level against the yen in early April. This is after U.S. Inflation suggested that tariffs were pushing up prices, dampening expectation for Federal Reserve policy ease. The yield on U.S. Treasury bonds reached its highest level in over a month. This lifted the dollar, especially against the yen. However, tech shares remained resilient following a 4% rally in artificial-intelligence darling Nvidia overnight. Brent crude has remained at $69 per barrel. The data released on Tuesday shows that U.S. consumer price rose by 0.3% in the...

Crude Oil

Stocks rise ahead of important US earnings and data as trade talks loom

On Tuesday, shares rose worldwide and the dollar retained most of its gains from July as investors entered a crucial week that will include U.S. earnings data, inflation figures and trade negotiations in a fairly optimistic mood. Donald Trump, the U.S. president, threatened to impose 30 percent tariffs on Europe and Mexico starting August 1, which is higher than the 20 percent he originally proposed for the EU in April. Trump, however, said that he would be open to more negotiations, despite investor predictions of lower final tariff levels. Japan is also trying to schedule high level talks with the...

Crude Oil

Asian shares are up, the dollar is holding gains ahead of US earnings and Nasdaq Futures are up

The dollar gained on Tuesday, as the trade talks were still in the spotlight. This week will also see important readings for U.S. bank earnings and inflation. Oil prices fell after U.S. president Donald Trump set a deadline of 50 days for Russia to stop the war in Ukraine or face energy sanctions. Nasdaq Futures rose after Nvidia NVDA.O announced it would resume sales of H20 chips in China. Trump indicated he would be open to discussing tariffs following his threat at the weekend to impose 30% duty on Europe and Mexico starting August 1. Japan is trying to set...

Environment

Environment

Four dead and more than 5,900 people evacuated after torrential downpours in southern Taiwan

Four people have died and over 5,900 people have been evacuated from southern Taiwan following the island's record rainfall of more than an entire year in the last week, which led to widespread flooding and landslides. Since late July, when strong southwesterly winds and a depression began to cause flooding and landslides on Taiwan's southern coast - an area crucial for the island's agricultural sector - three people have gone missing and 77 others have been injured. Central Weather Administration reports that in the last seven days more than 2.6 meters (102.3 inches) (or 102.33 inches) of rainfall fell on...

Pollution

Rivers in southwest China exceed warning levels and thousands are evacuated

State media reported that 25 rivers in southwest China were above safe levels after the remnants from former typhoon Danas combined with East Asian Monsoon Rains. More than 10,000 people had been evacuated. Meteorologists attribute extreme rainfall and severe floods to climate change. They pose a major challenge as they threaten to overwhelm the ageing flood defences and displace millions. Beijing Daily, a state-run publication, reported that heavy rains hit the capital as well. One area of the Chaoyang district received 68.2mm (2.7") in just one hour, on Thursday morning. The water ministry warned that ten rivers in the southwest,...

Environment

China is hit by extreme weather conditions including heat, landslides, and floods

On Wednesday, torrential rains were sweeping across large areas of China as Tropical Storm Danas dunked coastal tech hubs. Monsoonal rains in the interior unleashed flash floods and deadly landslides over an 1,400 km (870 mile) arc. A subtropical system of high pressure has been saturating the north-east coast and the central provinces in the $19 trillion US economy since last week. This is straining power grids, and parching crops. Extreme weather is a growing threat to the world's second largest economy, and meteorologists attribute it to climate change. The impact of extreme weather threatens to wipe out billions in...

Mining

Mineral Resources

Mineral Resources

Japan launches antidumping probe against stainless steel sheets imported from China and Taiwan

The Japanese trade and finance ministry announced on Tuesday that it has opened an investigation into the anti-dumping of nickel-based stainless steel cold-rolled sheets and strips imported to Japan from China and Taiwan. This move comes after a petition was filed by Nippon Steel, and other domestic producers, on May 12. They claim that they were forced to lower their prices because of a weakening demand in the domestic market, with buyers shifting to cheaper imports. The Ministry of Economy, Trade and Industry and Ministry of Finance intend to finish the investigation in a year and then decide if anti-dumping...

Mineral Resources

Trump declares that the US-China trade agreement is "done".

The U.S. and China trade deal has been "done", U.S. president Donald Trump announced on Wednesday. Hours earlier, Washington and Beijing had agreed on a framework for resuming a fragile truce in trade and removing Chinese export restrictions of rare earth minerals and critical industrial components. Trump used his social media platform on Monday to share some of the details that emerged from the marathon two-day talks that took place in London. According to U.S. Secretary of Commerce Howard Lutnick's words, the talks had "put meat on the bones" for an agreement that was reached in Geneva last month to...

Mineral Resources

Iron ore prices fall as the focus shifts from China's steel demand to a softening of iron ore.

Iron ore futures fell on Thursday as the focus returned to a softening of steel consumption during China's off peak demand season. The daytime trading price of the most traded September iron ore contract at China's Dalian Commodity Exchange was 701 yuan (US$97.60). As of 0701 GMT, the benchmark July iron ore traded on Singapore Exchange fell 0.8% to $94.7 per ton. Analysts at Galaxy Futures stated that prices of the main steelmaking ingredient will fluctuate due to the seasonal weakness in demand. The iron ore market is not changing fundamentally. "The upward momentum caused by the coal price rally...

Mineral Resources

Iron ore prices fall as the focus shifts from China's steel demand to a softening of iron ore.

Iron ore futures fell on Thursday as the focus returned to a softening of steel consumption during China's off peak demand season. As of 0238 GMT, the most traded September iron ore contract at China's Dalian Commodity Exchange was trading 0.14% lower. It was 701 yuan (US$97.61) per metric ton. As of 0228 GMT, the benchmark July Iron Ore traded on Singapore Exchange fell by 0.69% to $94.8 per ton. Galaxy Futures analysts said that due to the lack of driving forces, the price of the main steelmaking ingredient is expected to fluctuate despite the seasonal weak demand. The iron...

Mineral Resources

Treasury's Bessent: Trump and Xi are likely to discuss the minerals dispute soon

U.S. Treasury Sec. Bessent believes that President Donald Trump will be speaking with Chinese President Xi Jinping soon about trade issues, including a dispute regarding critical minerals. Donald Trump accused China on Friday of violating a bilateral agreement to reduce tariffs and trade barriers for vital minerals. "What China does is that they hold back products which are essential to the industrial supply chain of India and Europe." Bessent told CBS' "Face the Nation" on Sunday that this is not the behavior of a reliable partner. "I'm confident that President Trump and Party Chairperson Xi will have a conversation, which...

Mineral Resources

Trump's trade tariffs and threats

Since returning to office in January, Donald Trump has issued numerous tariff threats. These range from a duty on all imports to a targeted tariff on certain sectors or countries. Trump's threats changed over time. This left other nations and business unclear as to what was next. It also created uncertainty for consumers and triggered a recent stock-market selloff. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual roll-out of tariffs that will apply to all U.S. imported goods. Last month, Trump asked his team of economists to...

Mineral Resources

South Korean steelmakers are looking to U.S.-made products with higher value as Trump tariffs begin.

As major producers around the world prepare for Wednesday's increased tariffs, two major South Korean steelmakers have been evaluating their options to invest in new facilities. They said that the options included investing in operations in the U.S. The U.S. President Donald Trump’s decision to increase protection for American producers of steel and aluminum restores global tariffs that are effective at 25% on all metal imports. It also extends these duties to hundreds downstream products, such as nuts and bolts, bulldozers blades and cans. Canada, the largest foreign supplier of aluminium and steel to the U.S.A., Brazil, Mexico, and South...

Mineral Resources

Trump's trade tariffs and threats

Since returning to office in January, Donald Trump has issued numerous tariff threats. These range from a duty on all imports to a targeted tariff on certain sectors or countries. Trump's threats changed over time. This left other nations and business unclear as to what was next. It also created uncertainty for consumers and triggered a recent stock-market sell-off. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual roll-out of tariffs that will apply to all U.S. imported goods. Last month, Trump asked his team of economists to...

Mineral Resources

Vietnam decides to temporarily impose anti-dumping tariffs on China steel products

The trade ministry announced on Friday that Vietnam would levy a temporary antidumping tax of up to 27,83% on certain hot-rolled coils steel products from China. In a statement, the Ministry said that the tariff would be effective on March 7, and it will last for 120 days. Baoshan Iron & Steel, Maanshan Iron & Steel are among the companies affected by these duties Vietnam launched an investigation into anti-dumping in July after complaints by Vietnamese producers. After business hours, the Chinese ministries of foreign affairs and commerce did not respond to faxed comments. Hanoi's decision comes after the U.S....

Mineral Resources

Donald Trump's trade threats and tariffs

Since Donald Trump returned to office in the United States last month, he has imposed numerous tariffs on imported goods and threatened to do so more frequently. These can be broad - such as a tariff on all imported goods from abroad - or targeted at certain sectors, countries, or regions to try and get them to comply with his demands. Trump's threats are constantly changing, and other nations and businessmen are unsure of what to expect next. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual rollout...

Mineral Resources

Karnataka State in India receives investment proposals totaling $115 billion.

A government spokesperson announced that Karnataka, a state in southern India, had received investment proposals totaling nearly 10 trillion rupees (115.31 billion dollars) as the country attempts to boost its manufacturing sector and create jobs in an economy slowing down. At the Invest Karnataka event held on Tuesday, a spokesperson stated that the proposed investments would be focused on renewable energy, automobiles, steel, semiconductors, and other areas. Not all of the proposals have been approved and the government does not provide a timetable for these investments. New Indian Express reported last week that the state government plans to implement 70%...

Mineral Resources

Donald Trump's trade threats and tariffs

Since Donald Trump returned to office in the United States last month, he has imposed numerous tariffs on imported goods and threatened to do so more frequently. These can be broad - such as a tariff on all imported goods from abroad - or targeted at certain sectors, countries, or regions to try and get them to comply with his demands. Trump's threats changed over the years, from small levies up to those exceeding 200%. Other nations and businesses are unsure of what will happen next. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS...