EUR/USD 1.13778
-0.071%
Gold 4010.72
-0.442%
Oil 83.809
6.995%
USD/JPY 163.882
0.013%
GBP/USD 1.32822
-0.044%
GBP/JPY 217.676
-0.017%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 29 – Lawrence Werther, chief U.S. economist at Daiwa Capital Markets, said ahead of Federal Reserve Chairman Warshs press conference today that Warshs remarks should largely maintain the established tone, emphasizing the committees need to assess subsequent data. "I tend to think the committee will hold rates steady today," he said, adding that he expects Warsh to stick to his stance on forward guidance while possibly softening his views on inflation slightly. "Perhaps more importantly, well be able to see whether he continues to hold these kinds of press conferences."Inchcape Shipping Services: Vessels affected by the explosion have been moved out of port, and operations at other berths and terminals are expected to resume overnight.The German DAX 30 index closed down 34.71 points, or 0.14%, at 25,457.88 on Wednesday, July 29; the UK FTSE 100 index closed up 36.18 points, or 0.33%, at 10,907.20 on Wednesday, July 29; the French CAC 40 index closed down 50.51 points, or 0.60%, at 8,408.27 on Wednesday, July 29; European... The Stoxx 50 index closed down 40.16 points, or 0.64%, at 6249.35 on Wednesday, July 29; the Spanish IBEX 35 index closed down 326.14 points, or 1.65%, at 19400.86 on Wednesday, July 29; and the Italian FTSE MIB index closed down 271.19 points, or 0.52%, at 51427.00 on Wednesday, July 29.July 29 (Futures News) – According to foreign media reports, ICE cotton futures fell on Wednesday, dragged down by a stronger dollar, a weak grain market, and profit-taking after recent gains. 1. Contract Prices: The December cotton futures contract fell 0.53 cents, or 0.66%, to 80 cents per pound. 2. Macroeconomic Factors: The dollar rose slightly on Wednesday, approaching a near one-month high, as investors awaited the Federal Reserves interest rate decision, with some analysts expecting an unexpected rate hike. A strong dollar makes cotton more expensive for overseas buyers, thus suppressing export demand. 3. Agricultural Product Linkage: The decline in US corn and soybean prices dampened sentiment in the overall agricultural market after the recent grain rebound. 4. Market View: Kansas commodities analyst Sid Love stated that there is significant uncertainty in the cotton market, and after breaking through the 80-82 cent range, current price movements are mainly driven by fund flows. He suggests paying attention to crude oil prices, believing that as long as oil prices remain strong, no commodity will experience a significant decline. 5. Crude Oil Impact: Oil prices surged nearly 7% on Wednesday due to major airstrikes in the Middle East and a decline in U.S. crude oil inventories. While rising crude oil prices typically provide support for cotton, the strength in the energy market failed to offset the broad downward pressure on cotton.According to Israeli media, an Israeli official said that Netanyahu has told Trump that the goal is to prevent Iran from acquiring nuclear weapons and that he does not intend to push for military options.

Oil Declines As Investors Watch EU Voting on Ban on Russian Oil

Charlie Brooks

May 09, 2022 09:44

O2.png


Oil prices declined in early Asian trade on Monday as investors awaited European Union discussions on a Russian oil embargo, which are anticipated to reduce world supplies.


Brent crude fell 67 cents, or 0.6 percent, to $111.72 a barrel at 0002 GMT, while U.S. West Texas Intermediate crude fell 75 cents, or 0.7 percent, to $109.02 per barrel.


Last week, both contracts increased for the second consecutive week due to supply concerns after the European Commission suggested a phased embargo on Russian oil as part of its toughest-to-date package of measures regarding the conflict in Ukraine. The plan calls for unanimity among EU members.


Bulgaria would veto EU oil sanctions on Russia if it does not receive an exemption from the proposed embargo, according to the country's Deputy Prime Minister.


EU sources said that the European Commission proposed adjustments to its planned embargo on Russian oil on Friday to give Hungary, Slovakia, and the Czech Republic additional time to switch their energy supplies.


"The negotiations will continue on Monday and Tuesday, and a summit of the leaders may be required to finalize them. Our perspective is unambiguous. If there is a derogation for some countries, we wish to receive one as well, "Vassilev stated on BNT national television.


The global financial markets are also pushed down by worries about interest rate hikes, a probable recession, and the impact of China's COVID-19 lockdowns on the second largest economy in the world.


Meanwhile, Saudi Arabia, the world's top oil exporter, reduced crude prices for Asia and Europe for June on Sunday.

Suggestion