Latest news with #Commodities
Barnama
25-05-2025
- Business
- Barnama
Fadillah:: Intra-ASEAN Trade Key To Boosting Palm Oil Demand Amid Global Challenges
From Harizah Hanim Mohamed & Aisha Hani Nor Azmir KUALA LUMPUR, May 25 (Bernama) — Robust intra-ASEAN economic activity vital to stimulate demand for palm oil products amid stricter private regulations, tariff uncertainties and other global economic challenges, said Deputy Prime Minister and Minister of Plantation and Commodities Datuk Seri Fadillah Yusof. He said that by focusing on intra-ASEAN cooperation and trade, more economic activities across member states both downstream and upstream sector can be stimulated, particularly in ensuring a resilient and self-sustaining growth engine. 'Malaysia and Indonesia are the biggest states in the palm oil production… with all the restrictions from the world, including introduction of the European Union Deforestation Regulation (EUDR), there is a restriction for us to export our products to the overseas markets. 'If we can focus on ASEAN, then we create more activities between the ASEAN member states, so that it will be enough to sustain our economic activities and benefit entire ASEAN population,' he said at the Luncheon Power Talk Shared Prosperity: The New Imperative for ASEAN's Economic Growth at the ASEAN Women Economic Summit 2025 (AWES 2025) held at a hotel (Shangri-La) here today. Fadillah also called for a more harmonising standards among ASEAN member countries through minimising the non-tariff barriers, strengthen the supply chains and open up to all the member states the benefit of the quality growth. 'Strengthening ASEAN is not just strategic, it is necessary to safeguard our shared prosperity and deliver tangible benefits to the entire ASEAN population,' he said, adding that regional trade, investment, and connectivity must be enhanced to build a more resilient and competitive single market. Citing an example of active cross-border trade, Fadillah said active cross-trade activities can be seen among Thailand, Malaysia, and Indonesia. 'Such efforts should be facilitated to ensure greater cross-border trade is created for the benefit of ASEAN citizens,' he added.
Yahoo
22-05-2025
- Business
- Yahoo
Closing Bell Movers: Snowflake jumps 7% on earnings
In the opening hour of the evening session, U.S. equity futures are down modestly, extending Wednesday's broader declines. S&P 500 is down 0.1% at 5,855, Nasdaq 100 is off by 0.1% at 21,139, and Dow Industrials are slipping 0.2% below 41,900 level. In commodities, WTI Crude Oil is down 0.4% at $61.31 as rumors of escalation in the Middle East are replaced by worries over global growth, while Gold is up another 0.2% at $3,321 per ounce. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Fiscal debt and deficit worries amid Congressional budget deliberations took center stage in U.S. hours today, punctuated by weak demand in the 20-year U.S. Treasury auction mid-day. The yield on the 10-year rose to three-month highs of 4.6% and that of the 30-year eclipsed the 5% threshold. Stocks were likewise spooked by the Treasury selloff as higher rates contributed to Real Estate being the worst performing sector on the S&P 500, followed by Health Care and Financials. Communication Services sector outperformed however thanks to strength in shares of Alphabet. Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGS – Urban Outfitters (URBN) up 14.3% LiveRamp Holdings (RAMP) up 7.3% Snowflake (SNOW) up 6.9% American Superconductor (AMSC) up 4.2% Domo (DOMO) up 3.5% Zoom Communications (ZM) up 0.3% ALSO HIGHER – Lumen Technologies (LUMN) up 11.0% after selling its Mass Markets fiber business to AT&T for $5.75B Pitney Bowes (PBI) up 9.9% after naming new CEO, announcing strategic actions DOWN AFTER EARNINGS – EnerSys (ENS) down 2.9% ALSO LOWER – Eastman Kodak (KODK) down 4.1% after equity offering Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on URBN: Disclaimer & DisclosureReport an Issue Urban Outfitters reports Q1 EPS $1.16, consensus 83c Urban Outfitters options imply 8.6% move in share price post-earnings Gap price target raised to $29 from $26 at Jefferies Urban Outfitters price target raised to $46 from $42 at Jefferies Urban Outfitters price target raised to $73 from $59 at Barclays
Zawya
16-05-2025
- Business
- Zawya
Global oil demand cut down amid US tariff uncertainties: Report
Global oil demand growth has been revised downwards for 2025 due to the uncertainty surrounding the US trade policy and supply surplus, according to an analysis by S&P Global Commodities. Oil demand is expected to average 750,000 barrels per day (bpd) this year, down 500,000 bpd from its previous forecast, the analysis found. The average price forecast for Brent is mid-to-low $60 per barrel and low $60 for West Texas Intermediate (WTI), S&P Global Commodities. According to the analysis, any increase in output by OPEC+ will be an additional downside risk.
Yahoo
01-04-2025
- Business
- Yahoo
US dollar outlook more subdued, but tariffs souring sentiment: Reuters poll
By Sarupya Ganguly BENGALURU (Reuters) - The U.S. dollar is forecast to stabilize over the coming months despite mounting worries about the economic impact of President Donald Trump's erratic tariff announcements, according to a Reuters survey of FX strategists. Over one-third of strategists surveyed in the past few days also expressed concern about the greenback's traditional role in currency markets as a safe haven. Trump is set to implement reciprocal tariffs on the U.S.'s trading partners on Wednesday, which in several cases come in addition to tariffs already announced, causing widespread confusion and uncertainty including on currency trading desks. Traders offloaded near-decade high long bets in droves the past two months, Commodities and Futures Trading Data showed, with positioning flipping to 'net short' for the first time since October. That was partly driven by recent speculation in markets for three more Federal Reserve rate cuts this year compared with just two previously. Asked how positioning would change by end-April, forecasters provided no clear majority view. That was a marked shift from just two months ago when they expected speculators to keep piling on 'long' dollar trades. "There has been a certain degree of fatigue in trying to navigate U.S. tariffs and their implication for currencies these last few months. Investors don't want to get caught in the trap of pre-positioning for an outcome where it's very unclear what that outcome will actually turn out to be," said Paul Mackel, global head of FX research at HSBC. Of 35 strategists who responded on month-end positioning in a March 27-April 1 Reuters survey, 17 said there would not be much change, nine called for an increase in net shorts while seven said it would decrease. Just two said there would be a reversal to net longs. Medians from 69 strategists in the wider survey predicted the euro, currently around $1.08, would trade at $1.07 in three and then $1.08 in six months. It was then predicted to rise about 2% to $1.10 in a year. The dollar index is down about 4% this year after gaining 7% in 2024, in part on a euro surge driven by optimism Germany's infrastructure and defence spending plans would revitalise the common currency bloc's economy. "We're very much caught in a wait-and-see mode. While many have thrown in the towel on the dollar, we still believe we don't have the true ingredients for it to be going down very meaningfully over the next six to 12 months," Mackel added. SAFE-HAVEN STATUS SLIPPING? But some expressed concerns Trump's isolationist policies would accelerate de-dollarisation in the longer term, on the heels of successive years of dollar outperformance, along with U.S. assets. Just under 40% of strategists who answered an extra question, 19 of 51, said they were concerned about an erosion in the dollar's reputation in markets, particularly in the longer-term. The remaining 32 said they weren't worried. 'There are some tentative risks that the dollar's safe haven status may be eroding,' said George Saravelos, global head of FX research at Deutsche Bank. 'First, a weakening U.S. outlook reduces the attractiveness of the dollar as a risk-off hedge. Second, a broader challenge to the stability of U.S. institutions and global internal rule of law norms may decrease foreign investor willingness to allocate to dollars at the margin.' Even some of those who said they weren't concerned said there could be gradual slippage. Arindam Sandilya, JP Morgan's co-head of global FX strategy and head of macro strategy for Asia, said a '"slower process of erosion" could continue for a long time. "(It is) more likely we see a continuation of the trends that have been in place for the past two decades – a steady decline in the U.S. dollar's allocation in central bank reserve holdings, and a search for alternative reserve assets such as gold," Sandilya added. (Other stories from the Reuters April foreign exchange poll) Sign in to access your portfolio
Yahoo
01-04-2025
- Business
- Yahoo
US dollar outlook more subdued, but tariffs souring sentiment: Reuters poll
By Sarupya Ganguly BENGALURU (Reuters) - The U.S. dollar is forecast to stabilize over the coming months despite mounting worries about the economic impact of President Donald Trump's erratic tariff announcements, according to a Reuters survey of FX strategists. Over one-third of strategists surveyed in the past few days also expressed concern about the greenback's traditional role in currency markets as a safe haven. Trump is set to implement reciprocal tariffs on the U.S.'s trading partners on Wednesday, which in several cases come in addition to tariffs already announced, causing widespread confusion and uncertainty including on currency trading desks. Traders offloaded near-decade high long bets in droves the past two months, Commodities and Futures Trading Data showed, with positioning flipping to 'net short' for the first time since October. That was partly driven by recent speculation in markets for three more Federal Reserve rate cuts this year compared with just two previously. Asked how positioning would change by end-April, forecasters provided no clear majority view. That was a marked shift from just two months ago when they expected speculators to keep piling on 'long' dollar trades. "There has been a certain degree of fatigue in trying to navigate U.S. tariffs and their implication for currencies these last few months. Investors don't want to get caught in the trap of pre-positioning for an outcome where it's very unclear what that outcome will actually turn out to be," said Paul Mackel, global head of FX research at HSBC. Of 35 strategists who responded on month-end positioning in a March 27-April 1 Reuters survey, 17 said there would not be much change, nine called for an increase in net shorts while seven said it would decrease. Just two said there would be a reversal to net longs. Medians from 69 strategists in the wider survey predicted the euro, currently around $1.08, would trade at $1.07 in three and then $1.08 in six months. It was then predicted to rise about 2% to $1.10 in a year. The dollar index is down about 4% this year after gaining 7% in 2024, in part on a euro surge driven by optimism Germany's infrastructure and defence spending plans would revitalise the common currency bloc's economy. "We're very much caught in a wait-and-see mode. While many have thrown in the towel on the dollar, we still believe we don't have the true ingredients for it to be going down very meaningfully over the next six to 12 months," Mackel added. SAFE-HAVEN STATUS SLIPPING? But some expressed concerns Trump's isolationist policies would accelerate de-dollarisation in the longer term, on the heels of successive years of dollar outperformance, along with U.S. assets. Just under 40% of strategists who answered an extra question, 19 of 51, said they were concerned about an erosion in the dollar's reputation in markets, particularly in the longer-term. The remaining 32 said they weren't worried. 'There are some tentative risks that the dollar's safe haven status may be eroding,' said George Saravelos, global head of FX research at Deutsche Bank. 'First, a weakening U.S. outlook reduces the attractiveness of the dollar as a risk-off hedge. Second, a broader challenge to the stability of U.S. institutions and global internal rule of law norms may decrease foreign investor willingness to allocate to dollars at the margin.' Even some of those who said they weren't concerned said there could be gradual slippage. Arindam Sandilya, JP Morgan's co-head of global FX strategy and head of macro strategy for Asia, said a '"slower process of erosion" could continue for a long time. "(It is) more likely we see a continuation of the trends that have been in place for the past two decades – a steady decline in the U.S. dollar's allocation in central bank reserve holdings, and a search for alternative reserve assets such as gold," Sandilya added. (Other stories from the Reuters April foreign exchange poll) Sign in to access your portfolio
