EUR/USD
1.15355
-0.051%
Gold
4403.10
0.803%
Oil
83.011
1.005%
USD/JPY
159.433
0.085%
GBP/USD
1.35057
-0.011%
GBP/JPY
215.329
0.073%
Real-time News
Libyas National Electricity Corporation: An attack on a substation south of Zawiya has caused a power outage in a large area south of the city.Libyas National Electricity Corporation: The South Zawiya substation was completely burned down and shut down in an attack.On August 12, Russia began importing gasoline from the distant Indian market after Ukraines attacks on Russian oil refineries caused a severe fuel shortage in the country. According to shipping data agency Kpler, this marks the first time Russia has imported gasoline from a South Asian country. Kpler stated that the first shipment of gasoline arrived on August 5, and more shipments are likely to arrive in Russia in the future. This fuel was transported via a series of tankers with ties to Russia, and then transshipped in waters near Egypt before reaching Russia. Kplers chief analyst, Sumit Ritolia, said, "The emergence of Indian gasoline shipments is particularly noteworthy." He said that these shipments from India, along with Russias continued imports of gasoline from Belarus and other neighboring markets, highlight the severity of the current imbalance between domestic gasoline supply and demand in Russia, and reflect how declining refinery operating rates are reshaping the traditional flow of refined petroleum products in Russia.At the close of the morning session, domestic futures contracts showed mixed results. Fuel oil rose over 4%, polysilicon rose over 3%, low-sulfur fuel oil (LU) and lithium carbonate rose nearly 3%, while synthetic rubber, liquefied petroleum gas (LPG), and coking coal rose over 2%. On the downside, palladium fell over 1%, and live hogs and urea fell nearly 1%.On August 12th, Futures News reported that one of the biggest highlights in the commodity futures market since August has been the continued rise in gold prices. Gold prices surged during trading today. As of press time, London gold was up 1%, trading at $4411.6 per ounce. 1. Regarding the continued rise in gold prices, market participants believe that, on the one hand, last weeks unexpectedly weak US non-farm payroll data significantly reduced market expectations for a Fed rate hike in September, providing clear interest rate support for gold; on the other hand, the market is betting that the US and Iran may reach an agreement on reopening the Strait of Hormuz. Related expectations have pushed oil prices down and simultaneously lowered market expectations for real interest rates, thereby improving the valuation environment for precious metals. 2. It is reported that the US will release its July Consumer Price Index (CPI) report at 8:30 PM Beijing time on Wednesday. Since the CPI report is released only a few weeks before the Feds September policy meeting, this data release is significant, as it may become a core basis for the Feds decision on whether to raise interest rates in September. 3. Market participants stated that if the CPI is higher than expected, investors may again worry about the Fed continuing to tighten policy. Previously weak employment data had raised market expectations for a policy shift, but higher inflation data could weaken those expectations again. If inflation continues its moderate downward trend, it could reinforce market expectations of future interest rate cuts or continued rate stability. Even if the Fed doesnt cut rates immediately, market concerns about further rate hikes this year may ease.
