Gold hits 1-week high on simmering US-China trade spat

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold prices touched a more than one-week high on Monday as fears of a protracted U.S.-China trade war hurt risk sentiment, while poor economic data from the United States bolstered bets of a U.S. Federal Reserve rate cut. Spot gold edged 0.1% higher to $1,286.21 per ounce as of 0714 GMT. “U.S. sanctions on Huawei and even the rest of the Chinese technology firms have really aggravated trade tensions.” The U.S. dollar


Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold prices touched a more than one-week high on Monday as fears of a protracted U.S.-China trade war hurt risk sentiment, while poor economic data from the United States bolstered bets of a U.S. Federal Reserve rate cut. Spot gold edged 0.1% higher to $1,286.21 per ounce as of 0714 GMT. “U.S. sanctions on Huawei and even the rest of the Chinese technology firms have really aggravated trade tensions.” The U.S. dollar
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Gold hits 1-week high on simmering US-China trade spat

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.

Gold prices touched a more than one-week high on Monday as fears of a protracted U.S.-China trade war hurt risk sentiment, while poor economic data from the United States bolstered bets of a U.S. Federal Reserve rate cut.

Spot gold edged 0.1% higher to $1,286.21 per ounce as of 0714 GMT.

Earlier in the session, the metal touched $1,287.32, its highest since May 17.

U.S. gold futures gained 0.2%, to $1,285.60 an ounce.

“Gold has really reversed earlier losses as risk appetite in the market remains rather shaky,” said Benjamin Lu, an analyst with Singapore-based Phillip Futures.

“U.S. sanctions on Huawei and even the rest of the Chinese technology firms have really aggravated trade tensions.”

China on Friday denounced U.S. Secretary of State Mike Pompeo for fabricating rumours after he said the chief executive of China’s Huawei Technologies Co Ltd was lying about his company’s ties to the Beijing government.

A string of weak data from the United States late last week stirred up concerns that its protracted trade-war with China has started taking a toll on the country’s economy, and promoted bets for a much expected rate cut by the Federal Reserve.

Over the weekend, U.S. President Donald Trump repeated a complaint that the Federal Reserve’s policies have kept U.S. economic growth from reaching its full potential.

Further uncertainties emerged after British Prime Minister Theresa May said on Friday she would quit after failing to deliver Brexit, setting up a contest that will install a new British prime minister who could pursue a cleaner break with the European Union.

“The rise of volatility triggered by geopolitics benefited the yellow metal and if the UK political game of thrones and U.S.-China trade keep uncertainty levels high, gold could once again jump above $1,300,” Alfonso Esparza, senior market analyst at OANDA, said in a note.

The U.S. dollar was struggling against a basket of six major currencies, having fallen off a two-year peak in the previous session due in part to the U.S.-China trade dispute, making gold cheaper for holders of non-U.S. currencies.

Gold may retest a resistance at $1,290 an ounce, a break above which could lead to a gain to the next resistance at $1,295, according to Reuters technical analyst Wang Tao.

Meanwhile, hedge funds and money managers sharply reduced their net long positions in COMEX gold in the week to May 21, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

Among other precious metals, silver rose 0.3% to $14.61 per ounce, while palladium fell 0.4% to $1,329.90.

Platinum rose 0.3% to $804.50 an ounce.


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German data fails to lift euro from 1-week low

“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management. “We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt. The


“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management. “We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt. The
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German data fails to lift euro from 1-week low

The euro held at a one-week low on Wednesday, ignoring data from Germany that showed the economy returned to growth in the first quarter, as trade tensions between the world’s two biggest economies cast a shadow over risk appetite.

The single currency has been caught in the cross-currents of an escalating dispute between Washington and Beijing since last week, unable to conclusively rise above the $1.1250 level.

“The announcement of the increased trade tariffs has generated negative sentiment about global growth and that is exerting downward pressure on the euro despite the German data,” said Nikolay Markov, senior economist at Pictet Asset Management.

U.S. President Donald Trump threatened higher tariffs on billions of dollars of Chinese imports last week, and Beijing responded with planned tariff hikes of its own on Monday.

The escalation in the trade dispute comes at a time when latest data from Germany showed the economy returned to growth in the March quarter as householders spent more freely and construction activity picked up.

The single currency was broadly steady at $1.1213 – just above a one-week low of $1.1197 hit in the Asian session and more than 3% below a 2019 high of nearly $1.16 in early January.

Germany’s economic figures were a sole bright indicator in an otherwise slate of dismal data.

China on Wednesday reported surprisingly weaker growth in retail sales and industrial output for April, adding pressure on Beijing to roll out more stimulus as the trade war with the United States rumbles on.

“We expected the data to be worse than last month, but this is going to increase concerns about the state of the Chinese economy. The market will be very nervous and looking out for the PMI data,” said Commerzbank FX strategist Esther Maria Reichelt.

The Aussie dollar dropped as low as $0.6922, its lowest level since Jan. 3 when a flash crash in the foreign exchange markets rocked major currencies.

Barring that level, the currency was at its weakest in three years and down 0.2% on the day.

The weak data gave further impetus to Aussie bears to add to their negative bets with net outstanding short positions still below 2019 highs of above $5.2 billion.

The Aussie is often seen as a proxy for Chinese growth because of Australia’s export-reliant economy and China being the country’s main destination for its commodities.

Domestic data added to the woes, with the pace of growth in Australian wages stagnating.

Neighbouring New Zealand saw its currency dip 0.1% to $0.6567.

The Chinese yuan itself was slightly improved on the day at 6.8993 per U.S. dollar, but still close to a five-month low hit on Tuesday.


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Gold hits 1-week high as trade jitters dampen risk appetite

Spot gold was up 0.2 percent at $1,287 per ounce, as of 0715 GMT, after hitting their highest since April 26 at $1,287.94. Chinese Vice Premier Liu He will visit the United States on Thursday for trade talks and additional tariffs are set to take effect on Friday if a trade agreement is not reached by then. Gold should remain supported at least if there is no progress in trade talks. “Downside risks to growth from higher tariffs and the potential for equity weakness and lower yields should suppo


Spot gold was up 0.2 percent at $1,287 per ounce, as of 0715 GMT, after hitting their highest since April 26 at $1,287.94. Chinese Vice Premier Liu He will visit the United States on Thursday for trade talks and additional tariffs are set to take effect on Friday if a trade agreement is not reached by then. Gold should remain supported at least if there is no progress in trade talks. “Downside risks to growth from higher tariffs and the potential for equity weakness and lower yields should suppo
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Gold hits 1-week high as trade jitters dampen risk appetite

Gold prices rose to their highest in more than a week on Wednesday as renewed worries over U.S.-China trade dispute and its potential impact on global growth dented risk sentiment, stoking investors towards safe-haven assets.

Spot gold was up 0.2 percent at $1,287 per ounce, as of 0715 GMT, after hitting their highest since April 26 at $1,287.94.

U.S. gold futures edged 0.2 percent higher to $1,288.30 an ounce.

“Gold is being supported by risk-aversion buying at the moment. But, there is no change in the underlying momentum in overall sentiment, which seems to be soft,” said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA.

MSCI’s broadest index of Asia-Pacific shares outside Japan to its lowest level since late March, tracking Wall Street’s slide.

U.S. President Donald Trump tweeted on Sunday he would raise tariffs on $200 billion worth of Chinese goods, while Washington accused Beijing of backtracking from commitments made during trade negotiations.

Chinese Vice Premier Liu He will visit the United States on Thursday for trade talks and additional tariffs are set to take effect on Friday if a trade agreement is not reached by then.

“Investments are moving into high quality government bonds and Japanese yen rather than gold. Gold should remain supported at least if there is no progress in trade talks. But is probably going to test $1,260 levels if the talks go well,” Halley said.

While gold has managed to gain as demand for safe-haven assets have risen, prices have not been able to significantly move up despite the given backdrop in global markets.

“Downside risks to growth from higher tariffs and the potential for equity weakness and lower yields should support gold. But potential upside to the dollar would likely act as a headwind to gold,” UBS said in a research note.

While gold staying above $1,280 is encouraging, the extent of the dovish shift in U.S. Federal Reserve’s expectations has made gold vulnerable to improvement in the data during a time when physical markets tend to be mostly quieter due to a weak Chinese demand, UBS said.

Gold came under pressure last week after the Fed dashed hopes of an interest rate cut this year.

Meanwhile, holdings of SPDR Gold, the world’s largest gold-backed exchange-traded fund, saw a slight uptick on Tuesday after a dismal run.

Holdings are still at their lowest level since October 2018.

Also, Indians were expected to buy at least 10 percent more gold during the annual Hindu and Jain holy festival of Akshaya Tritiya than a year ago, supporting physical demand in Asia.

Silver rose 0.4 percent to $14.94 an ounce, while platinum gained 0.3 percent to $870.50.

Palladium was steady at $1,330 an ounce.


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Gold falls to 1-week low on stronger dollar, but holds above $1,300 level

Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the specter of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level. Spot gold fell 0.2 percent to $1,303.64 per ounce by 0341 GMT, after touching its lowest since Jan. 29 at $1,302.84. The dollar index, a gauge of its value versus six major peers, was hovering close to its two-week high. “But, if the dollar finds haven demand, th


Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the specter of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level. Spot gold fell 0.2 percent to $1,303.64 per ounce by 0341 GMT, after touching its lowest since Jan. 29 at $1,302.84. The dollar index, a gauge of its value versus six major peers, was hovering close to its two-week high. “But, if the dollar finds haven demand, th
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Gold falls to 1-week low on stronger dollar, but holds above $1,300 level

Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the specter of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level.

Spot gold fell 0.2 percent to $1,303.64 per ounce by 0341 GMT, after touching its lowest since Jan. 29 at $1,302.84. Prices fell 0.7 percent in the previous session in their biggest one-day drop since Jan. 18.

U.S. gold futures were down 0.5 percent at $1,307.30.

A possible rate cut by the Australian central bank stokes global slowdown concerns and the U.S. dollar has gained on safe-haven interest, pulling down old, said Ilya Spivak, a senior currency strategist with DailyFx.

Australia’s central bank on Wednesday opened the door to a possible rate cut as it acknowledged growing economic risks in a remarkable shift from its long-standing tightening bias that sent the local dollar sliding.

The dollar index, a gauge of its value versus six major peers, was hovering close to its two-week high.

A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies.

Last week, the U.S. Federal Reserve said it would be patient on further rate hikes, while the European Central Bank sounded less certain that it would start tightening policy later this year.

The Bank of England looks set to trim its forecasts for Britain’s already sluggish growth on Thursday, reflecting the approach of a still uncertain Brexit in just 50 days’ time and a slowdown in many of the world’s big economies.

“Bullion appeal though demonstrating for pricing weakness in the current term, will hold an integral role in 2019 amidst heightened geopolitical and economic uncertainties,” analysts at Phillip Futures wrote in a note.

Wall Street’s benchmark S&P 500 slipped amid concerns over growth, disappointing earnings reports and another possible U.S. government shutdown in the wake of President Donald Trump’s State of the Union address.

“If there is another shutdown that would stoke concerns about growth which might fuel demand for haven assets like bonds, and gold might gain due to falling treasury yields,” Spivak of DailyFx said.

“But, if the dollar finds haven demand, then gold’s ability to move higher is going to be limited.”

Reflecting lackluster sentiment, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell for a fourth straight session on Wednesday.

Liquidity in gold markets is expected to remain light in Asian hours with China closed for the Lunar New Year holiday this week.

In other metals, palladium rose 0.4 percent to $1,377.50 per ounce.

Silver was steady at $15.66, and platinum slipped 0.2 percent to $801.50.


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Win free 1-week trip to Tahiti with United, Project: Time Off contest

The islands of Tahiti in French Polynesia, with crystal clear lagoons, white-sand beaches and over-water bungalows, are expensive — but “the hardest worker in America” will get a free trip. United Airlines launched Time Off: Tahiti Tuesday in partnership with Project: Time Off, a U.S. Travel association committed to changing the thinking and behavior of Americans about vacation time. Many Americans work so hard they don’t take all their vacation days (52 percent left days on the table last year)


The islands of Tahiti in French Polynesia, with crystal clear lagoons, white-sand beaches and over-water bungalows, are expensive — but “the hardest worker in America” will get a free trip. United Airlines launched Time Off: Tahiti Tuesday in partnership with Project: Time Off, a U.S. Travel association committed to changing the thinking and behavior of Americans about vacation time. Many Americans work so hard they don’t take all their vacation days (52 percent left days on the table last year)
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Win free 1-week trip to Tahiti with United, Project: Time Off contest

The islands of Tahiti in French Polynesia, with crystal clear lagoons, white-sand beaches and over-water bungalows, are expensive — but “the hardest worker in America” will get a free trip.

United Airlines launched Time Off: Tahiti Tuesday in partnership with Project: Time Off, a U.S. Travel association committed to changing the thinking and behavior of Americans about vacation time.

Many Americans work so hard they don’t take all their vacation days (52 percent left days on the table last year), so the two companies are rewarding a hard-working person in the U.S. with a dream Tahiti trip. The winner can bring a guest for the all-expenses-paid vacation.


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Gold rises to 1-week high as dollar pauses rally

Gold prices hit their highest in a week on Monday, buoyed as the dollar slipped after marking its strongest level this year in the previous session. Spot gold had risen 0.3 percent to $1,318.46 per ounce by 0332 GMT, after earlier touching its highest since late-April at $1,318.85. Gold prices were also drawing support from political uncertainty surrounding markets, Schnider said, pointing to concurrent gains in the Japanese yen, which also tends to appreciate with higher uncertainty. Meanwhile,


Gold prices hit their highest in a week on Monday, buoyed as the dollar slipped after marking its strongest level this year in the previous session. Spot gold had risen 0.3 percent to $1,318.46 per ounce by 0332 GMT, after earlier touching its highest since late-April at $1,318.85. Gold prices were also drawing support from political uncertainty surrounding markets, Schnider said, pointing to concurrent gains in the Japanese yen, which also tends to appreciate with higher uncertainty. Meanwhile,
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Gold rises to 1-week high as dollar pauses rally

Gold prices hit their highest in a week on Monday, buoyed as the dollar slipped after marking its strongest level this year in the previous session.

Spot gold had risen 0.3 percent to $1,318.46 per ounce by 0332 GMT, after earlier touching its highest since late-April at $1,318.85.

U.S. gold futures for June delivery were up 0.3 percent at $1,319.10 per ounce.

“The dollar is a little bit under pressure. The key driver still remains the dollar and that is what we see,” said Dominic Schnider at UBS Wealth Management in Hong Kong.

The dollar index traded slightly below its 2018-peak early on Monday, after disappointing U.S. employment data for April and as concerns about trade frictions weighed on upward momentum.

Gold prices were also drawing support from political uncertainty surrounding markets, Schnider said, pointing to concurrent gains in the Japanese yen, which also tends to appreciate with higher uncertainty.

“The fact that the trade negotiations between the U.S. and China for some ended up on the disappointing side could have added a little bit of support for gold.”

Meanwhile, ANZ analysts said in note that gold prices pushed higher as investors focused on the relatively benign level of wage growth in the United States.

“This eased concerns that had built up over the past few weeks about a quicker rate hike cycle. The tepid economic data should see the U.S. Federal Reserve remain on a gradual tightening phase, and support investor sentiment for gold,” ANZ said.


Company: cnbc, Activity: cnbc, Date: 2018-05-06  Authors: source, world gold council
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Gold hits 1-week low on strong dollar; Fed minutes awaited

Gold prices fell further on Wednesday and hit a one-week low as the dollar steadied after a recovery from last week’s three-year low, while investors awaited the minutes of the U.S. Federal Reserve’s last policy meeting for clues on the pace of interest rate hikes this year. Spot gold had slipped by 0.2 percent to $1,326.37 an ounce by 0353 GMT and was down for a fourth straight session. It hit a three-year low of 88.253 on Feb. 16. “A quicker and steeper slope of interest rate normalization off


Gold prices fell further on Wednesday and hit a one-week low as the dollar steadied after a recovery from last week’s three-year low, while investors awaited the minutes of the U.S. Federal Reserve’s last policy meeting for clues on the pace of interest rate hikes this year. Spot gold had slipped by 0.2 percent to $1,326.37 an ounce by 0353 GMT and was down for a fourth straight session. It hit a three-year low of 88.253 on Feb. 16. “A quicker and steeper slope of interest rate normalization off
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Gold hits 1-week low on strong dollar; Fed minutes awaited

Gold prices fell further on Wednesday and hit a one-week low as the dollar steadied after a recovery from last week’s three-year low, while investors awaited the minutes of the U.S. Federal Reserve’s last policy meeting for clues on the pace of interest rate hikes this year.

Spot gold had slipped by 0.2 percent to $1,326.37 an ounce by 0353 GMT and was down for a fourth straight session.

Earlier in the day, prices touched the lowest since Feb. 14 at $1,325.31 an ounce.

U.S. gold futures were down 0.2 percent at $1,328.5 per ounce.

The dollar index, which measures the greenback against a basket of currencies, was up 0.1 percent at 89.828, after hitting a one-week high of 89.857. It hit a three-year low of 88.253 on Feb. 16.

“Gold is tracking the movement in dollar… The absence of Chinese buyers from the market is further pressurizing the yellow metal’s prices,” said Ronald Leung, chief dealer at Lee

Cheong Gold Dealers in Hong Kong.

Investors are looking forward to the minutes of the Fed’s Jan. 30-31 policy meeting for any signs of a hawkish tone.

“A quicker and steeper slope of interest rate normalization offers the most prominent near-term threat to gold prices as this outcome will send the U.S. dollar surging,” said Stephen Innes, APAC trading head at OANDA.

Spot gold may drop to $1,316 per ounce as it has broken a support at $1,335, according to Reuters technical analyst Wang Tao.

Treasury yields rose overnight with the benchmark 10-year yield crawling back to near a four-year peak as investors made room for this week’s $258 billion deluge of new government debt.

Treasury yields have risen in the wake of increased government borrowing. The U.S. Treasury Department has issued more debt in anticipation of a higher deficit from last year’s major tax overhaul and a budget deal that will increase federal spending over the next two years.

Higher yields on bonds make gold a less attractive investment because it pays no interest.

Meanwhile, holdings at the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.39 percent to 827.79 tonnes on Tuesday from 824.54 tonnes on Friday.

Among other precious metals, silver slipped 0.4 percent to $16.39 an ounce, palladium declined 0.2 percent to $1,031.50, and platinum dipped 0.3 percent to $996.90.


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Dollar near 1-week high vs yen, supported by rise in US yields

The dollar held near a one-week high against the yen on Thursday, supported by a rise in U.S. bond yields, with moves limited ahead of a Bank of Japan policy decision and a news conference by the BOJ governor. The dollar eased 0.1 percent to 113.28 yen, after rising to as high as 113.47 yen on Wednesday, its strongest level since mid-December. A rise beyond last week’s high of 113.75 yen would send the dollar to its highest level in more than a month. Analysts said the dollar was supported again


The dollar held near a one-week high against the yen on Thursday, supported by a rise in U.S. bond yields, with moves limited ahead of a Bank of Japan policy decision and a news conference by the BOJ governor. The dollar eased 0.1 percent to 113.28 yen, after rising to as high as 113.47 yen on Wednesday, its strongest level since mid-December. A rise beyond last week’s high of 113.75 yen would send the dollar to its highest level in more than a month. Analysts said the dollar was supported again
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Dollar near 1-week high vs yen, supported by rise in US yields

The dollar held near a one-week high against the yen on Thursday, supported by a rise in U.S. bond yields, with moves limited ahead of a Bank of Japan policy decision and a news conference by the BOJ governor.

The dollar eased 0.1 percent to 113.28 yen, after rising to as high as 113.47 yen on Wednesday, its strongest level since mid-December.

A rise beyond last week’s high of 113.75 yen would send the dollar to its highest level in more than a month.

Analysts said the dollar was supported against the yen after the U.S.10-year Treasury yield rose to a nine-month high on Wednesday as investors worried over whether the tax cuts would lead to higher U.S. debt, increased bond issuance, and more aggressive rate hikes by the Fed.

The Republican-controlled U.S. House of Representatives gave final approval on Wednesday to the biggest overhaul of the U.S. tax code in 30 years, sending a sweeping $1.5 trillion bill to President Donald Trump for his signature.


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Dollar steadies after hitting 1-week low vs yen; BOJ stands pat

The dollar touched a one-week low versus the yen on Tuesday as investors turned cautious following news that investigators probing Russian interference in the U.S. election had charged President Donald Trump’s former campaign manager. The dollar held steady at 113.17 yen, having slipped to as low as 112.97 yen in early Asian trade, its lowest level since Oct. 20. Federal investigators probing Russian interference in the 2016 U.S. election charged Trump’s former campaign manager, Paul Manafort, a


The dollar touched a one-week low versus the yen on Tuesday as investors turned cautious following news that investigators probing Russian interference in the U.S. election had charged President Donald Trump’s former campaign manager. The dollar held steady at 113.17 yen, having slipped to as low as 112.97 yen in early Asian trade, its lowest level since Oct. 20. Federal investigators probing Russian interference in the 2016 U.S. election charged Trump’s former campaign manager, Paul Manafort, a
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Dollar steadies after hitting 1-week low vs yen; BOJ stands pat

The dollar touched a one-week low versus the yen on Tuesday as investors turned cautious following news that investigators probing Russian interference in the U.S. election had charged President Donald Trump’s former campaign manager.

The yen showed limited reaction after the Bank of Japan kept its monetary policy steady on Tuesday as widely expected, even as it slightly cut its inflation forecast for the current fiscal year.

The dollar held steady at 113.17 yen, having slipped to as low as 112.97 yen in early Asian trade, its lowest level since Oct. 20.

Federal investigators probing Russian interference in the 2016 U.S. election charged Trump’s former campaign manager, Paul Manafort, and another aide, Rick Gates, with money laundering on Monday.

Neither Trump nor his campaign was mentioned in the indictment against Manafort and Gates. But the latest developments in the investigation pressured the dollar, said Stephen Innes, head of trading in Asia-Pacific for Oanda in Singapore.

“It’s weighing on dollar/yen a little bit. I think there’s a little bit of uncertainty,” Innes said.


Company: cnbc, Activity: cnbc, Date: 2017-10-30  Authors: getty images, jim bourg
Keywords: news, games, cnbc, companies, yen, pat, low, dollar, 1week, russian, little, campaign, steady, steadies, hitting, vs, stands, boj, trumps, probing, manafort


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Euro falls from 1-week highs after ECB vote

The euro fell from a one-week high on Thursday after a European Central Bank meeting where policymakers extended its bond-buying. The euro slipped 0.4 percent against the dollar on Thursday to $1.1759. Long euro/dollar has been among the best performing currency trades this year with the pair up nearly 13 percent so far this year though the single currency has come under some pressure in recent weeks on concerns interest rates in the ECB will remain at record lows far longer than the U.S.Latest


The euro fell from a one-week high on Thursday after a European Central Bank meeting where policymakers extended its bond-buying. The euro slipped 0.4 percent against the dollar on Thursday to $1.1759. Long euro/dollar has been among the best performing currency trades this year with the pair up nearly 13 percent so far this year though the single currency has come under some pressure in recent weeks on concerns interest rates in the ECB will remain at record lows far longer than the U.S.Latest
Euro falls from 1-week highs after ECB vote Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-10-25  Authors: jock fistick, bloomberg via getty images
Keywords: news, games, cnbc, companies, weeks, currency, vote, falls, record, uslatest, euro, remain, ecb, trades, 1week, 13, highs, far


Euro falls from 1-week highs after ECB vote

The euro fell from a one-week high on Thursday after a European Central Bank meeting where policymakers extended its bond-buying.

The euro slipped 0.4 percent against the dollar on Thursday to $1.1759.

Long euro/dollar has been among the best performing currency trades this year with the pair up nearly 13 percent so far this year though the single currency has come under some pressure in recent weeks on concerns interest rates in the ECB will remain at record lows far longer than the U.S.

Latest CFTC positioning data shows that net euro longs have retreated from their record highs though still remain near multi-year highs at above $13 billion.


Company: cnbc, Activity: cnbc, Date: 2017-10-25  Authors: jock fistick, bloomberg via getty images
Keywords: news, games, cnbc, companies, weeks, currency, vote, falls, record, uslatest, euro, remain, ecb, trades, 1week, 13, highs, far


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