News
Important Only
Silver price forecast: XAG/USD rises above $38.00 on Fed rate cut bets, tariff concerns
Silver price (XAG/USD) extends its gains for the second successive session, trading around $38.20 per troy ounce during the Asian hours on Friday. The non-interest-bearing Silver attracts buyers amid rising odds of a rate cut by the Federal Reserve (Fed) in September.
Fxstreet
Fri, Aug 8
US National Weather Service to restore hundreds of jobs cut under Trump
Lawmakers say 450 meteorologists and other experts to be hiredHiring turnaround would restore most of positions cut by DOGE NWS job vacancies drew scrutiny amid summer of extreme weatherBy Steve Gorman Aug 7 (Reuters) - The Trump administration is allowing the U.S. National Weather Service to res...Reuters
Fri, Aug 8
RUBBER-Japan futures set for weekly gain on trade clarity, Thai weather woes
Aug 8 (Reuters) - Japanese rubber futures climbed on Friday, and were set for a weekly gain, as weather concerns in Thailand and improved clarity on U.S.-Japan trade policies buoyed market sentiment.The Osaka Exchange (OSE) rubber contract for January delivery JRUc6, 0#2JRU: was up 1 yen, or 0.32%...Reuters
Fri, Aug 8
GRAINS-Wheat, corn and soy steady after price falls stoke demand
CANBERRA, Aug 8 (Reuters) - Chicago wheat, corn and soybean futures rose slightly on Friday, building on the previous session's gains as a decline in prices to multi-month or multi-year lows triggered some export demand.FUNDAMENTALS* The most-active wheat contract on the Chicago Board of Trade (...Reuters
Fri, Aug 8
BREAKINGVIEWS-Foxconn's TECO deal dials up AI shift from iPhones
By Katrina Hamlin HONG KONG, Aug 8 (Reuters Breakingviews) - Apple AAPL.O has been diversifying from its core iPhone business, so why shouldn't key supplier Foxconn 2317.TW? The electronics giant’s cash cow has long been contract manufacturing for the company run by Tim Cook. But the artifici...Reuters
Fri, Aug 8
METALS-Copper set for weekly gain on softer dollar, China demand hopes
By Brijesh Patel Aug 8 (Reuters) - Copper prices rose on Friday and were on track for a weekly gain, supported by a weaker U.S. dollar and expectations of better demand from top consumer China.Three-month copper on the London Metal Exchange CMCU3 was up 0.1% at $9,696 per metric ton, as of 0145 G...Reuters
Fri, Aug 8
India's IOC buys 5 million barrels of crude for Oct delivery, sources say
NEW DELHI/SINGAPORE, Aug 8 (Reuters) - Indian Oil Corp IOC.NS, the country's largest refiner, has bought 5 million barrels of crude for October delivery, trade sources said, continuing its buying spree amid pressure from U.S. President Donald Trump to halt Russian purchases.IOC bought 2 million ...Reuters
Fri, Aug 8
Oil set for steepest weekly losses since June as tariffs cloud demand outlook
By Shariq Khan Aug 8 (Reuters) - Oil prices were little changed in early Asian hours on Friday, but were headed for their steepest weekly losses since late-June, as investors expressed concern over the impact to the global economy from tariffs that kicked into effect on Thursday. Brent crude futu...Reuters
Fri, Aug 8
RPT-Pemex plan disappoints suppliers awaiting billions in overdue payments
AMESPAC seeks formal group to clarify 2025 investment vehicleEspino highlights lack of 2024 debt payment plan in Pemex meetingSuppliers owed 65 billion pesos for un-invoiced work, Espino saysBy Ana Isabel Martinez and Adriana BarreraMEXICO CITY, Aug 7 (Reuters) - The head of an association represent...Reuters
Fri, Aug 8
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, Aug 8 (Reuters) - Contract Target Support/Resistance Brent oil $65.49/$64.61res $66.91/$67.78/$69.20Palm oil (3rd month)4,312/4,344/4,374 ringgitsup 4,273/4,211 ringgitWTI* $63.39/$61.69res $65.09/$67.20Spot gold$3,364/$3,342res $3,415/$3,434...Reuters
Fri, Aug 8
Neo-Nazi leader sentenced to 20 years for plot to sabotage Baltimore power grid
Brandon Russell faces supervised release for life after prison termConspiracy aimed at furthering white supremacist ideology, prosecutors sayRussell's lawyer plans appeal, argued co-conspirator more culpableBy Steve GormanAug 7 (Reuters) - The founder of a neo-Nazi group was sentenced on Thursda...Reuters
Fri, Aug 8
Trump administration will end $7 billion solar energy grant program
Aug 7 (Reuters) - The U.S. Environmental Protection Agency will end a $7 billion Biden-era grant program that sought to expand solar energy to low-income communities, Administrator Lee Zeldin said in a post on X on Thursday.Reuters
Fri, Aug 8
WTI extends the decline to below $63.50 on potential US-Russia meeting
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.20 during the early Asian trading hours on Friday. The WTI remains on the defensive amid potential US-Russia talks, raising expectations for a diplomatic end to the war in Ukraine.
Fxstreet
Fri, Aug 8
United Steelworkers union sets proposals for next refinery worker contract
By Erwin SebaHOUSTON, Aug 7 (Reuters) - More than 300 United Steelworkers union (USW) refinery and chemical plants workers meeting in Pittsburgh approved on Thursday proposals for labor negotiations set to begin early in 2026 with energy companies, said Mike Smith, chair of national oil bargaining f...Reuters
Thu, Aug 7
RPT-Trump tariffs hit India's garment makers as US buyers say move production
India's garment industry faces crisis due to Trump tariffsExporters scrambling to look for manufacturing options abroadSome manufacturers told by US buyers to put orders on holdBy Dhwani Pandya and Praveen Paramasivam MUMBAI/CHENNAI, Aug 8 (Reuters) - Ever since Donald Trump's tariff salv...Reuters
Thu, Aug 7
CIF/FOB Gulf Grain-Soy basis bids flat amid lack of Chinese demand
CHICAGO, Aug 7 (Reuters) - Basis bids for soybeans shipped by barge to U.S. Gulf Coast terminals were largely flat on Thursday as barge freight remained high and Chinese demand was absent, traders said.Weekly U.S. Department of Agriculture data continued to show no U.S. export sales to top-importer ...Reuters
Thu, Aug 7
Argentina's YPF Q2 profit slumps nearly 90% on lower fuel prices
By Natalia Siniawski Aug 7 (Reuters) - Argentina's state-controlled energy company YPF YPFDm.BA on Thursday reported a nearly 90% plunge in second-quarter net profit to $58 million, dragged down by lower fuel prices.Revenues dropped 6% from a year earlier to $4.64 billion, as softer prices fo...Reuters
Thu, Aug 7
Alliant Energy second quarter profit surges as summer heat drives power use
Aug 7 (Reuters) - U.S. utility Alliant Energy LNT.O reported a rise in second quarter profit on Thursday, lifted by strong electricity demand amid warmer weather.Hotter temperatures between April and June drove up use of cooling appliances such as air conditioners and refrigerators, boosting power d...Reuters
Thu, Aug 7
