OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
European stocks edged lower on Tuesday on trade uncertainty with doubts on whether the ECB would continue to cut interest rates. The Eurozone's STOXX 50 fell 0.3% to 5,288, and the pan-European STOXX 600 dropped 0.2% to 540. Reports indicated that the EU is open to a deal involving a 10% universal tariff on many of its exports, but is seeking concessions from the US on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. The EU's trade chief is expected to lead a delegation to Washington this week in an effort to advance the talks, according to sources...
The US stock market moved without a clear direction on Tuesday. The S&P 500 and Nasdaq fluctuated, while the Dow Jones rose about 200 points, extending the previous day's gains. The S&P 500's quarterly performance recorded its best record since 2023. Investors are still watching developments in trade negotiations and discussions on the budget bill in the US Congress. Federal Reserve Chairman Jerome Powell said that the impact of tariffs on prices would likely only be seen in the next few months. However, he also emphasized that most Fed officials support a rate cut before the end of...
Both the STOXX 50 and the STOXX 600 edged up 0.1% on Tuesday, as investors continued to monitor trade negotiations with the US ahead of the looming July 9th deadline for reciprocal tariffs. Bloomberg reported that the European Union is open to a deal involving a 10% universal tariff on many of its exports, but is seeking concessions from the US on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. The EU's trade chief is expected to lead a delegation to Washington this week in an effort to advance the talks, according to sources cited by Bloomberg. On...
Japan's Nikkei share average snapped a five-day winning streak to fall more than 1% on Tuesday, as investors sold stocks amid uncertainty over U.S.-Japan trade talks. The Nikkei fell 1.24% to 39,986.33, slipping from the highest level since mid-July, which it reached in the previous session. The broader Topix slipped 0.73% to 2,832.07. "The market was overheated, but there were some factors that boosted demand last month," said Hiroyuki Ueno, chief strategist at Sumitomo Mitsui Trust Asset Management. Japanese equities mirrored a rally in U.S. stocks in the past several sessions, but...
Japanese shares slid, snapping a five-day winning streak, as a stronger yen weighed on exporters and fresh comments from Donald Trump clouded expectations for progress in US-Japan tariff negotiations. Topix Index fell 0.8% to 2,830.16 as of 10:37 a.m. Tokyo time Nikkei declined 1.1% to 40,035.03 Out of 1,681 stocks in the Topix, 433 rose and 1,191 fell, while 57 were unchanged. The yen rose as much as 0.4% against the dollar Tuesday morning, holding its gains after better-than-forecast business sentiment data. That pressured large-cap exporters and dragged down the...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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