Sonaf

. makes rare request of : Boost output

U.S. makes rare request of OPEC: Boost oil output In an unusual ask, the U.S. government has asked Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries to increase oil output by around 1 million barrels a day to help cap rising oil prices, Bloomberg reported Tuesday.

#𝑼𝑺. 𝒕𝒐 𝒔𝒍𝒂𝒑 #𝒕𝒂𝒓𝒊𝒇𝒇𝒔 𝒐𝒏 𝒔𝒕𝒆𝒆𝒍, 𝒂𝒍𝒖𝒎𝒊𝒏𝒖𝒎 𝒇𝒓𝒐𝒎 #𝑬𝑼 𝒐𝒏 𝑻𝒉𝒖𝒓𝒔𝒅𝒂𝒚: 𝒔𝒐𝒖𝒓𝒄𝒆𝒔

U.S. to slap tariffs on steel, aluminum from EU on Thursday: sources Washington will announce plans to slap tariffs on EU steel and aluminum imports as early as Thursday morning, sources said, while the U.S. commerce secretary said any escalation of their trade dispute would depend on the bloc's reaction.

prices fall as floats gradual production increase

Oil prices fall as Russia warns of gradual output increase Oil prices eased on Friday as Russia hinted it may gradually increase output, after having withheld supplies in concert with producer cartel OPEC since 2017.

climbs back closer to weekly tops, nearing $1300 mark

Gold edged higher for the second consecutive session on Thursday and built on overnight modest gains led by perceived dovish minutes.

Minutes from the latest FOMC meeting supported June rate hike expectations but hinted to a gradual monetary policy tightening path going forward and tolerance to overshoot for some time.

The post-release US Dollar profit-taking, which continued through the early European session on Thursday, was seen underpinning demand for dollar-denominated - like gold. Adding to this, the ongoing slide in the US Treasury bond yields further benefited the non-yielding yellow metal and remained supportive of the uptick.

Meanwhile, renewed worries around the US- trade talks, coupled with uncertainty over a planned summit between the US President Donald and leader Jong-un dented investors’ appetite for riskier assets. The same was evident from the prevalent cautious mood across global equity markets, which was eventually seen providing some additional boost to the precious metal's safe-haven appeal.

Today's economic docket, featuring the second-tier releases of the usual initial weekly jobless claims and existing home sales data, along with speeches by influential FOMC members would now be looked upon for some fresh impetus.