Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Oil Prices Steady as Markets Weigh U.S.-Iran Talks, Dollar Strength Caps Gains 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Dollar Holds Firm as Strong U.S. Data, Fed Expectations and Global Central Bank Moves Shape Markets 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
South Korea Inflation Hits Five-Month Low as CPI Reaches Central Bank Target 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
U.S. Stock Futures Rise as Investors Eye Big Tech Earnings and AI Momentum 
Gold, Silver, and Platinum Rally as Precious Metals Recover from Sharp Selloff 
Oil prices steadied in Asian trading on Friday after sharp losses the previous day, as investors assessed new U.S. tariff threats and closely watched signals from OPEC+ on future supply levels.
Brent crude futures for September delivery rose 0.5% to $69.01 per barrel, while West Texas Intermediate (WTI) crude gained 0.7% to $67.00 by 01:47 GMT. Both benchmarks dropped nearly 2% on Thursday after touching two-week highs earlier in the week.
Investor sentiment was shaken after U.S. President Donald Trump announced a 35% tariff on Canadian imports, effective August 1. He warned of further increases if Canada retaliates. This follows Trump’s recent tariff hikes—25% on goods from South Korea and Japan, and 50% on copper imports.
Tariff tensions typically weigh on oil demand by disrupting trade, curbing industrial activity, and slowing travel—key drivers of crude consumption. Analysts at ING highlighted tariffs as a key downside risk to global oil markets.
Meanwhile, supply-side concerns remain in focus. A Bloomberg report said OPEC and its allies (OPEC+) are considering pausing production increases after completing a planned supply boost in August. The group is set to restore 2.2 million barrels per day by September, with the final 550,000 barrels coming next month.
OPEC+ also revised down its global oil demand forecast through 2028, citing China’s slowing economy. Analysts expect oil prices to face more sustained downward pressure starting in the fourth quarter, as markets move into a potential surplus.
Despite short-term support, both geopolitical tensions and shifting supply-demand dynamics are likely to drive volatility in crude oil prices through the remainder of the year.
