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Europe growth hit more by China exports than bigger trade gap, Goldman says

By Akriti Shah and Rashika SinghThe bigger drag on European Union growth is losing market share to China rather than a widening trade deficit with the Asian country, Goldman Sachs said on Thursday, but added any response from the bloc would stop short of U.S.-style blanket tariffs.Faced with weak d…

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Economy
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India's June palm oil imports fall to 14-month low as demand softens, dealers say

By Rajendra JadhavIndia's palm oil imports in June fell to their lowest in 14 months as subdued demand and a narrowing discount to rival oils prompted buyers to cut purchases, five dealers said.Lower palm oil buying by the world's biggest importer of vegetable oils could swell stocks in top produce…

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EconomyFutures
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Singapore oil product inventories retreat to two-week low

By Jeslyn Lerh, Mohi Narayan and Trixie YapOil product stocks in Asia's key trading hub Singapore have eased following a rebound last week, led by a dip in inventories across the barrel, official data showed on Thursday.Combined onshore oil product stocks totalled 40.45 million barrels in the week…

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UBS cuts Brent crude price forecasts on improved Hormuz oil flows

UBS, on Thursday, cut its Brent crude price forecast by $25 for the September quarter to about $80 a barrel, on average, and now expects prices to hold the quarter after, citing the rise in oil flows via the Strait of Hormuz after the recent U.S.-Iran agreement.The bank also lowered its 2027 averag…

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Futures

What to watch from European semiconductor earnings

WHAT TO WATCH FROM EUROPEAN SEMICONDUCTOR EARNINGSQ2 earnings season is upon us and everyone is looking at the technology sector for further evidence that the AI trade has more room to run.While Europe's tech hardware sector is smaller than other regions - namely the U.S., Japan, South Korea and Ta…

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Hungary threatens clampdown on EV battery industry after pollution case

Hungarian Environment Minister Laszlo Gajdos has threatened to close factories in the EV battery industry that fail to abide by environmental regulations, marking a major policy shift from right-wing leader Viktor Orban, who lost power in April.From 2021 Orban bet big on EV batteries, attracting fo…

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Economy
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European Union auctions 2.818 mln spot carbon permits at 78.62 eur/t

LONDON, July 2 (Reuters) - The European Union sold 2.818 million spot EU carbon permits on EEX at 78.62 euros per tonne each on Thursday, the exchange said.Date Market area Auction type Auction Price Amount auctioned Cover ratio02-Jul-2026 EU EUA…

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ForexFutures