Author: admin

St. Louis Federal Reserve President Alberto Musalem said on Friday that the US economic activity remains stable, per Reuters.Key takeaways”Bankers report that funding pressures have diminished, credit quality is good.””Companies continue to report a shortage of skilled labor.””Firms remain cautious on capital spending and hiring.””Companies are using different strategies to adapt to tariffs, including cost-cutting and negotiating with suppliers.””Companies are not yet resorting to layoffs to reduce costs.””Companies that are most dependent on imports are passing along costs; those closer to consumers are less likely to raise prices so far.””The Fed is now missing on its inflation target but not…

The latest trade data from China were more or less neutral for the Copper price, Commerzbank’s Head of FX and Commodity Research Thu Lan Nguyen notes. China Copper imports rise despite tariff threats”Both imports of unwrought Copper and imports of Copper ores increased in July compared to the previous month. This indicates robust demand as well as consistently high metal production, both of which are surprising. One might have expected that the recent threat of US tariffs on unprocessed Copper would have led to more of these flowing to the US in advance.” “However, the tariffs did not materialize, or…

Data from Bloomberg suggests that US President Trump’s threat of punitive tariffs against India has apparently already had an effect, Commerzbank’s commodity analyst Carsten Fritsch notes. China’s crude oil imports remain high”According to the data, Russia’s seaborne oil shipments to India fell to just 460,000 barrels per day last week. This was the third significant weekly decline in a row and the lowest level since April 2022. Until mid-July, the four-week average of Russian oil deliveries to India was still around 1.6 million barrels per day.” “According to people familiar with the matter, state-owned refineries are to stop buying Russian…

Saudi Arabia has raised its official selling prices for oil deliveries to Asia in September, Commerzbank’s commodity analyst Carsten Fritsch notes. Buyers of Russian oil likely to look for other major suppliers”The price premium for Arab Light compared to the Oman/Dubai benchmark will increase by $1 to a five-month high of $3.2 per barrel. The increase was in line with expectations. Despite rising supply, Saudi Arabia appears to be finding sufficient buyers for its oil.” “Given the pressure from the US on buyers of Russian oil, these are likely to look for oil from other major suppliers, including Saudi Arabia.…

According to a Bloomberg survey, OPEC production fell slightly in July to 28.31 million barrels per day, Commerzbank’s commodity analyst Carsten Fritsch notes. Problem of overproduction remains despite the increased targets”However, the figure for June was revised upward by 320,000 barrels per day due to higher production in Saudi Arabia. In July, Saudi Arabia’s Oil production fell by 220,000 to 9.53 million barrels per day, bringing it back in line with the increased target. The eight OPEC countries bound by production targets still produced 535,000 barrels per day more than agreed in July.” “This was mainly due to the United…

On Thursday, the rupee settled 14 paise higher at 87.58 against the US dollar. Rupee depreciated 13 paise to close at 87.71 (provisional) against US dollar on Friday, weighed down by weak domestic equities as India-US trade deal uncertainty continues to dent domestic market sentiments.Forex traders said rupee is trading in a narrow range amid extended weakness in the domestic equities and foreign fund outflows may also weigh on the domestic currency.Moreover, President Donald Trump’s aggressive move, which kicks in 21 days, threatens to raise total duties on select Indian exports to as high as 50 per cent — making…

The Indian rupee ended lower for a fifth straight week, its biggest consecutive weekly drop in six months, as trade tensions between India and the United States escalated following President Donald Trump’s call for new tariffs on Indian goods. The rupee closed marginally higher at 87.6550 against the U.S. dollar, from 87.7025 on Thursday. The currency opened at 87.5600 and reached an intraday high of 87.5350, supported by unwinding of long dollar positions in the NDF market.Dollar bids, primarily from oil importers, pushed the USD/INR higher after initial lows, traders said. For the week, the rupee eased 0.1%, following a…

The USD/CAD price analysis shows continued dollar weakness. Trump’s Fed pick has raised speculation about more dovish picks in the future. Market participants are awaiting employment figures from Canada. The USD/CAD price analysis shows continued dollar weakness after Trump’s pick for Fed Governor hinted at more dovishness in the central bank. At the same time, downbeat employment data added to expectations of Fed rate cuts.  –Are you interested in learning more about Bitcoin price prediction? Check our detailed guide- Trump picked Stephen Miran to temporarily hold the recently vacant position at the Fed. His pick has raised speculation about more…

The rupee traded in a tight range and fell 5 paise to 87.63 against the US dollar with depreciation pressures still lingering amid persistent trade uncertainty and a firm US dollar backdrop. Forex traders said the rupee is trading in a narrow range as the Reserve Bank of India is protecting it at around the 87.95 level, while sustained foreign fund outflows are dragging the local unit lower. At the interbank foreign exchange market rupee opened at 87.56, then touched an intra-day low of 87.63 against the US dollar in initial trade, lower by 5 paise from its previous close.…

EUR/USD capped below 1.1700 as Greenback strengthens on Fed Chair appointment rumors.White House reportedly eyes Waller for the role, valuing his forecast-based policy approach and institutional knowledge.US Initial and Continuing Jobless Claims both exceed forecasts; Continuing Claims hit the highest since Nov 2021.German industrial production slides for third straight month, reaching its lowest level since April 2010.The EUR/USD turned flat late on Thursday, spurred by rumors that the White House is considering Federal Reserve Governor Christopher Waller as the top candidate to be the next Fed Chair, succeeding Jerome Powell. Economic data in the US has been ignored by investors,…