News
Important Only
India's IOC buys 7 million barrels US, Mideast crude after Russian oil pause
SINGAPORE/NEW DELHI, Aug 4 (Reuters) - Indian Oil Corp (IOC) IOC.NS, the country's top refiner, has bought 7 million barrels of September-arrival crude from the United States, Canada and the Middle East via a tender, several trade sources said on Monday.IOC's large spot crude purchase comes ...
Reuters
Mon, Aug 4
EUR/JPY strengthens to near 171.00 amid uncertainty about timing of BoJ's next rate hike
The EUR/JPY cross gains momentum to near 171.00 during the Asian trading hours on Monday. The Japanese Yen (JPY) weakens against the Euro (EUR) amid reduced Bank of Japan (BoJ) rate hike expectations and political uncertainty in Japan.
Fxstreet
Mon, Aug 4
Gold price edges lower amid modest USD uptick; September Fed rate cut bets limit losses
Gold price (XAU/USD) pulls back from the $3,369 region, or over a one-week top touched during the Asian session on Monday, and for now, seems to have stalled last week's goodish recovery move from a one-month low.
Fxstreet
Mon, Aug 4
South Korean banks are preparing to enter the crypto and stablecoin market
South Korea’s leading banks are eyeing faster entry into the crypto and stablecoin markets. The announcement comes as executives around the crypto industry predict upcoming laws at the national level will pave the way for mass issuance of stablecoins and other digital asset services.Cryptopolitan
Mon, Aug 4
Japan ready to compile extra budget to cushion US tariff blow, PM Ishiba says
TOKYO, Aug 4 (Reuters) - Japanese Prime Minister Shigeru Ishiba said on Monday the government is ready to compile an extra budget to cushion the economic blow from U.S. tariffs, a move that would add strain to the country's already worsening finances.Reuters
Mon, Aug 4
Trump Fires BLS Head After Jobs Report — Is America’s Data “Gold Standard” at Risk?
TradingKey - In a move that has sent shockwaves through the economic and political establishment, President Donald Trump ordered the dismissal of Erika McEntarfer, Commissioner of the U.S. Bureau of Labor Statistics (BLS), just hours after the release of the July nonfarm payrolls report on FridayTradingKey
Mon, Aug 4
Asia shares sideswiped by US economic jitters, oil slips
SYDNEY, Aug 4 (Reuters) - Asian share markets followed Wall Street lower on Monday as fears for the U.S. economy returned with a vengeance, spurring investors to price in an almost certain rate cut for September and undermining the dollar.Reuters
Mon, Aug 4
Benchmark JGB yields fall most in more than 3 months as economic concerns mount
TOKYO, Aug 4 (Reuters) - Japanese government bonds surged on Monday, sending benchmark yields down by the most in more than three months, as concerns over the economic cost of a global trade war boosted demand for safer assets.Reuters
Mon, Aug 4
Goldman keeps Brent oil forecast, but flags downside risks to demand
Aug 4 (Reuters) - Goldman Sachs on Sunday reiterated its oil price forecast with Brent averaging $64 per barrel in the fourth quarter of 2025 and $56 in 2026, but expects an increasing range of risks to its baseline estimates from recent developments.
Reuters
Mon, Aug 4
Wall St Week Ahead-AI gains and strong earnings support Wall Street as tariff woes linger
NEW YORK, July 31 (Reuters) - With more than half of second quarter earnings reported and stocks near record highs, company results have reassured investors about the artificial intelligence trade that has energized Wall Street, even if tariff worries curtailed buying.Reuters
Mon, Aug 4
Elon Musk reveals that senior Meta engineers have moved to xAI without needing “insane” compensation
Elon Musk has revealed that a number of senior engineers at Meta have transitioned to his AI venture, xAI, despite modest initial compensation packages. Musk predicted that in the long run, xAI’s valuation may exceed Meta’s, and highlighted the firm’s tendency to award substantial...Cryptopolitan
Mon, Aug 4
Kuwait praises OPEC+ decision to raise oil output for September
Aug 3 (Reuters) - Kuwait's Oil Minister Tariq Al-Roumi praised the OPEC+ decision to raise oil production by 547,000 barrels per day for September, saying it reflected coordination aimed at ensuring oil market stability.Reuters
Mon, Aug 4
Trump fired BLS chief Erika McEntarfer after weak job numbers without offering solid evidence
President Trump’s economic team is now trying to defend his sudden decision to fire the head of the Bureau of Labor Statistics, and they’re doing it without a clear case or solid numbers. National Economic Council Director Kevin Hassett was all over TV today trying to...Cryptopolitan
Mon, Aug 4
OPEC+ agrees to boost oil production by 548K bpd for September, as expected
The Organization of Petroleum Exporting Countries and its allies (OPEC+) on Sunday announced plans to boost oil production by 547,000 barrels per day (bps) for September as concerns mount over potential supply disruptions linked to Russia, Bloomberg reported on Sunday.Fxstreet
Sun, Aug 3
Trump fires BLS commissioner, raising concerns about economic data quality
Trump claims in social media post that jobs numbers were riggedNo evidence to back Trump's claimsEconomists, labor unions criticize firing as data manipulation attemptEconomists blame Trump's policies for slower job growthBy Jasper Ward and Lucia Mutikani WASHINGTON, Aug 1 (Reuters) - U.S...Reuters
Fri, Aug 1
WRAPUP 6-Markets dive after Trump hits more countries with steep tariffs
Markets down after new wave of tariffsSwitzerland stunned, seeks new talksBrazil, Canada, India, among countries hit by steep tariffsTrump administration teases additional trade dealsBy John Revill and Trevor Hunnicutt ZURICH/WASHINGTON, Aug 1 (Reuters) - U.S. President Donald Trump's latest ...Reuters
Fri, Aug 1
Tesla Slapped with Record $329M Penalty for Fatal Autopilot Failure; Self-Driving Credibility in Freefall
TradingKey - A Miami jury has ruled that Tesla (TSLA) is partially liable for a fatal accident that occurred in Key Largo, Florida, in 2019, ordering the company to pay $329 million in damages.
TradingKey
Fri, Aug 1
Stocks tumble on latest tariffs, soft jobs data
NEW YORK, Aug 1 (Reuters) - U.S. stocks slumped on Friday, with the S&P on track for its biggest daily percentage decline in more than three months as new U.S. tariffs on dozens of trading partners and a surprisingly weak jobs report spurred selling pressure.Reuters
Fri, Aug 1
