News
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Gold Price Forecast: XAU/USD rally loses steam and approaches $3,340 support area
Gold (XAU/USD) is practically flat on Friday, trapped within the last few days' trading range. The broader trend remains positive, but the failure to breach resistance at the $3.400 area this week has shifted the focus towards the $3,440 support area.
Fxstreet
Fri, Jun 6
Aon: Recent North American SCS and flooding losses to total hundreds of millions of dollars
By Rebecca DelaneyJune 6 - (The Insurer) - Continued activity during the severe convective storm (SCS) season across the U.S. has seen another week of severe weather and heavy rainfall, with Aon pegging total insured losses over the past seven days in the hundreds of millions of U.S. dollars.Scatter...Reuters
Fri, Jun 6
EU open to lowering tariffs on US fertilisers in trade talks
By Kate Abnett BRUSSELS, June 6 (Reuters) - The European Union is open to lowering tariffs on U.S. fertiliser imports as an offer in trade talks with the Trump administration, but will not weaken its food safety standards in pursuit of a deal, EU agriculture commissioner Christophe Hansen told Re...Reuters
Fri, Jun 6
EU open to lowering tariffs on U.S. fertilisers in trade talks
BRUSSELS, June 6 (Reuters) - The European Union is open to lowering tariffs on U.S. fertiliser imports as an offer in trade talks with the Trump administration, but will not weaken its food safety standards in pursuit of a deal, EU agriculture commissioner Christophe Hansen told Reuters."That is...Reuters
Fri, Jun 6
HSBC flags downside risks to Brent price outlook due to OPEC+ supply hikes
June 6 (Reuters) - HSBC expects OPEC+ to accelerate supply hikes in August and September, which is likely to raise downside risks to the bank's $65 per barrel Brent forecast from the fourth quarter of 2025, it said in a research note on Friday.The bank expects OPEC+ to implement two substantial...Reuters
Fri, Jun 6
Silver Price Forecast: XAG/USD extends rally above $36 on value-buying, US NFP in spotlight
Silver price (XAG/USD) refreshes over a decade high to near $36.20 on Friday. The white metal performs strongly as market experts quoted it a value buy, citing its secular underperformance in comparison with Gold.
Aon says insured losses from European storms will reach hundreds of millions of euros
By Rebecca DelaneyJune 6 - (The Insurer) - Severe convective storm activity across Europe between May 31 and June 4 is likely to result in aggregate insured losses in the hundreds of millions of euros, Aon has estimated in its weekly catastrophe recap.Large hail, strong winds and localised heavy rai...Reuters
Fri, Jun 6
Demand for US light sweet crude drops as OPEC+ ramps up output
Refiners shop around as OPEC producers pump moreUS light, sweet crude faces competition from Kazakh CPC blendGuyana, Brazil could boost crude exports to EuropeProducers face uncertainty due to economic slowdown concernsBy Stephanie Kelly and Robert Harvey NEW YORK, June 6 (Reuters) - Rising OPEC+...Reuters
Fri, Jun 6
China demonstrates coast guard capability to Pacific nations, step towards high seas patrols
China high seas boarding risks tensions with Taiwan fleets, US Coast Guard in PacificPacific Island ministers tour Chinese Coast Guard shipChina and Taiwan have largest fishing fleets with most infringements in PacificBy Kirsty Needham SYDNEY, June 6 (Reuters) - China is taking further steps towa...Reuters
Fri, Jun 6
Spain's imports of Venezuelan oil dry up ahead of US sanctions deadline
MADRID, June 6 (Reuters) - Spain didn't import crude oil from Venezuela in April, ahead of a key sanctions deadline set by U.S. President Donald Trump's administration.Spain's largest oil company Repsol REP.MC is among foreign firms operating in Venezuela whose permits to export oil from...Reuters
Fri, Jun 6
EUROPE GAS-Prices steady with focus on Norway supply, storage
June 6 (Reuters) - Dutch and British wholesale gas prices were little changed on Friday morning as maintenance in Norway continued to curb supplies and the need to refill European storage sites remained a factor supporting prices. The benchmark Dutch front-month contract at the TTF hub TRNLTTFMc1 i...Reuters
Fri, Jun 6
HSBC flags downside risks to Brent price outlook due to OPEC+ supply hikes
June 6 (Reuters) - HSBC said on Friday it expects OPEC+ to accelerate supply hikes in August and September, which is likely to raise downside risks to its $65 per barrel Brent forecast from the fourth quarter of 2025.Reuters
Fri, Jun 6
RUBBER-Japan futures hit 1-week high on hopes of easing US-China trade tensions
TOKYO, June 6 (Reuters) - Japanese rubber futures climbed to a one-week high on Friday, supported by hopes of easing U.S.-China trade tensions, but the contract booked a modest weekly loss amid signs of weakness in the U.S. economy.The Osaka Exchange (OSE) rubber contract for November delivery JRU...Reuters
Fri, Jun 6
METALS-London copper set for weekly gain on easing trade tensions, supply concerns
By Hongmei Li SINGAPORE, June 6 (Reuters) - London copper ticked up on Friday and was on track to end the week higher, boosted by hopes of an easing in U.S.-China trade tensions and concerns about supply disruptions.The three-month copper contract on LME CMCU3 gained 0.1% to $9,746 per metric ton...Reuters
Fri, Jun 6
Drone attack set fire to industrial site in Russia's Engels, governor says
MOSCOW, June 6 (Reuters) - Drones attacked an industrial enterprise in Russia's southern city of Engels on Friday, causing a fire, the regional governor said.Video posted on social media and verified by Reuters showed a fire burning fiercely and emitting huge clouds of black smoke.Governor Roman...Reuters
Fri, Jun 6
WTI wobbles around $62.20 with US NFP on the horizon
West Texas Intermediate (WTI), futures on NYMEX, trades sideways around $62.20 during European trading hours on Friday. The Oil price consolidates as investors await the United States (US) Nonfarm Payrolls (NFP) data for May, which will be published at 12:30 GMT.
Fxstreet
Fri, Jun 6
Perils issues final estimate for German floods of 1.56 billion euros
By Michael JonesJune 6 - (The Insurer) - Loss aggregator Perils has disclosed a fourth and final industry loss estimate of 1.56 billion euros ($1.78 billion) for the flooding that affected parts of southern Germany between May 31 and June 6, 2024.The updated figure is down from the 1.58 billion euro...Reuters
Fri, Jun 6
