Oil dips as soaring US production outweighs talk of OPEC output cuts


Oil dips as soaring US production outweighs talk of OPEC output cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dips, oil, output, talk, opec, cuts, outweighs, soaring, production



Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dips, oil, output, talk, opec, cuts, outweighs, soaring, production


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Don’t fear the tech wreck — buy all dips, technician says

For investors burned by the trade, one top technician says the group is still safe to own. Mark Newton, president of Newton Advisors, said he’s not backing away from tech stocks, or some of the most popular names in the group. And so [tech sector ETF] XLK for me is still an area you want to be in near term. As far as where to hide, we’re seeing a rotation out of a lot of the high-volatility, low-earnings, FANG-type of stocks. Overall, the tech shakeout “is just a small little blip on the radar,


For investors burned by the trade, one top technician says the group is still safe to own. Mark Newton, president of Newton Advisors, said he’s not backing away from tech stocks, or some of the most popular names in the group. And so [tech sector ETF] XLK for me is still an area you want to be in near term. As far as where to hide, we’re seeing a rotation out of a lot of the high-volatility, low-earnings, FANG-type of stocks. Overall, the tech shakeout “is just a small little blip on the radar,
Don’t fear the tech wreck — buy all dips, technician says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: rebecca ungarino, getty images, mathieu belanger, visual china group, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, dont, xlk, fear, dips, technician, newton, buy, shares, sector, near, rotation, tech, seeing, day, wreck, stocks


Don't fear the tech wreck — buy all dips, technician says

Where to hide out in tech as volatility slams the sector 3:28 PM ET Fri, 2 Nov 2018 | 04:07

Technology stocks have sunk around 10 percent in just one month. For investors burned by the trade, one top technician says the group is still safe to own.

Mark Newton, president of Newton Advisors, said he’s not backing away from tech stocks, or some of the most popular names in the group.

“Technically, we’ve been able to recoup a lot of that damage that’s been done over the last couple weeks. And so [tech sector ETF] XLK for me is still an area you want to be in near term. I’d look to buy any dips like we’re seeing, thinking that into the midterms and throughout November and December we could see some further upward progress,” he said Friday on CNBC’s “Trading Nation.”

Apple dragged down the tech space on Friday, posting its worst day in four years, a day after saying it would no longer give unit sales figures in future reports.

Apple is far from a sell at this juncture, said Michael Bapis, managing director with Vios Advisors at Rockefeller Capital Management. He said investors likely “panicked” around Apple’s earnings report, and he would stick with the name in the long term.

“I would own Apple all day at 15 times next year’s earnings, getting a dividend of 1.5 percent. I don’t think you can find better than that. As far as where to hide, we’re seeing a rotation out of a lot of the high-volatility, low-earnings, FANG-type of stocks. We’re seeing the rotation move more into earnings-driven companies in the technology sector,” he said.

Bapis added that he also sees opportunity in shares of Microsoft because of the company’s cloud business.

Overall, the tech shakeout “is just a small little blip on the radar, and you’re going to see tech outperform for the near future.”

Apple shares closed nearly 7 percent lower on Friday, barely off session lows, at $207.48 per share. The XLK closed lower by 2 percent. They were down slightly in Monday’s premarket.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: rebecca ungarino, getty images, mathieu belanger, visual china group, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, dont, xlk, fear, dips, technician, newton, buy, shares, sector, near, rotation, tech, seeing, day, wreck, stocks


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Euro zone growth slows more than expected as sentiment dips

Year-on-year euro zone growth slowed to 1.7 percent from 2.2 percent in the second quarter. Economists polled by Reuters had expected a 0.4 percent quarterly expansion and a 1.8 percent year-on-year rise. In a separate release, the European Commission said on Tuesday economic sentiment dropped in the euro zone for the tenth consecutive month, and by more than expected by economists. The indicator, that shows managers and consumers’ morale, fell to 109.8 points in October from 110.9 in September


Year-on-year euro zone growth slowed to 1.7 percent from 2.2 percent in the second quarter. Economists polled by Reuters had expected a 0.4 percent quarterly expansion and a 1.8 percent year-on-year rise. In a separate release, the European Commission said on Tuesday economic sentiment dropped in the euro zone for the tenth consecutive month, and by more than expected by economists. The indicator, that shows managers and consumers’ morale, fell to 109.8 points in October from 110.9 in September
Euro zone growth slows more than expected as sentiment dips Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: linus hook, bloomberg, getty images
Keywords: news, cnbc, companies, services, zone, indicator, slows, growth, quarter, euro, expected, expectations, sentiment, yearonyear, managers, dips


Euro zone growth slows more than expected as sentiment dips

Year-on-year euro zone growth slowed to 1.7 percent from 2.2 percent in the second quarter. Economists polled by Reuters had expected a 0.4 percent quarterly expansion and a 1.8 percent year-on-year rise.

Eurostat does not provide national data in its flash estimates, but figures released earlier on Tuesday by the Italian statistics agency showed Italy’s growth had halted in the third quarter amid a row with the European Union over the country’s budget for next year.

In a separate release, the European Commission said on Tuesday economic sentiment dropped in the euro zone for the tenth consecutive month, and by more than expected by economists.

The indicator, that shows managers and consumers’ morale, fell to 109.8 points in October from 110.9 in September in its biggest dip since March.

Although it remains above the long-term average, the indicator has been falling since the beginning of the year after having risen steadily in 2017.

In October the largest fall was recorded in retail services as managers held “much grimmer views on the present and expected business situation,” the Commission said and the indicator of selling price expectations dropped.

Confidence in industry and services also went down, while consumer sentiment grew slightly on improved savings expectations.


Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: linus hook, bloomberg, getty images
Keywords: news, cnbc, companies, services, zone, indicator, slows, growth, quarter, euro, expected, expectations, sentiment, yearonyear, managers, dips


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Nasdaq dips into correction territory, becoming first major stock benchmark to do so

The Nasdaq Composite Index on Thursday became the first major U.S. stock market benchmark to dip into a correction, dragged down by losses across all the major technology-related companies. A correction on Wall Street is defined as down more than 10 percent from its high. The technology-based index fell as low as 7,274 in intraday trading, down more than 10 percent from the most recent 52-week trading high of 8,133.30. Amazon, Netflix and Alphabet are all in correction territory after taking big


The Nasdaq Composite Index on Thursday became the first major U.S. stock market benchmark to dip into a correction, dragged down by losses across all the major technology-related companies. A correction on Wall Street is defined as down more than 10 percent from its high. The technology-based index fell as low as 7,274 in intraday trading, down more than 10 percent from the most recent 52-week trading high of 8,133.30. Amazon, Netflix and Alphabet are all in correction territory after taking big
Nasdaq dips into correction territory, becoming first major stock benchmark to do so Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz, the washington post, getty images
Keywords: news, cnbc, companies, benchmark, taking, market, nasdaq, trading, stock, dips, major, street, correction, high, recent, territory, week, stocks


Nasdaq dips into correction territory, becoming first major stock benchmark to do so

The Nasdaq Composite Index on Thursday became the first major U.S. stock market benchmark to dip into a correction, dragged down by losses across all the major technology-related companies.

A correction on Wall Street is defined as down more than 10 percent from its high. The Nasdaq closed down 1.3 percent at 7,329.06. The technology-based index fell as low as 7,274 in intraday trading, down more than 10 percent from the most recent 52-week trading high of 8,133.30.

The S&P 500 and the Dow Jones Industrial Average have further to fall to be in a correction with both down about 6 percent from recent all-time highs.

Amazon, Netflix and Alphabet are all in correction territory after taking big hits this week. Rising interest rates are hitting the whole stock market this week, but especially tech stocks as investors worry their rich valuations won’t be justified in a higher interest rate environment. These names are also the biggest winners this year and during the whole bull market so some investors may be taking profits amid the broader market sell-off.

Micron and Tesla are off 35 percent from their 52-week highs. Facebook has fallen more than 30 percent. Netflix is down by 25 percent from its high and down nearly 10 percent this week alone. Amazon is off 17 percent from its high and by nearly 10 percent this week alone.

Nvidia, Intel, Alphabet are also all down more than 10 percent from one-year highs.

Many of those stocks were higher as trading began Thursday, but dropped again as the massive selling returned to the Street.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz, the washington post, getty images
Keywords: news, cnbc, companies, benchmark, taking, market, nasdaq, trading, stock, dips, major, street, correction, high, recent, territory, week, stocks


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Dollar bounce fades, yuan dips, markets brace for China’s response to US tariffs

The dollar was slightly higher on Tuesday and China’s yuan fell as global markets braced for Beijing’s response to new U.S. tariffs on Chinese goods. The dollar index against a basket of six major currencies was up 0.09 percent at 94.585. China’s yuan was a shade weaker at 6.8740 per dollar in onshore trade, though Chinese stocks managed slim gains. “The dollar’s knee-jerk reaction has subsided somewhat as some equity markets are managing to rise despite the trade news. [GBP/]Emerging market cur


The dollar was slightly higher on Tuesday and China’s yuan fell as global markets braced for Beijing’s response to new U.S. tariffs on Chinese goods. The dollar index against a basket of six major currencies was up 0.09 percent at 94.585. China’s yuan was a shade weaker at 6.8740 per dollar in onshore trade, though Chinese stocks managed slim gains. “The dollar’s knee-jerk reaction has subsided somewhat as some equity markets are managing to rise despite the trade news. [GBP/]Emerging market cur
Dollar bounce fades, yuan dips, markets brace for China’s response to US tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-18
Keywords: news, cnbc, companies, yen, yuan, slightly, week, strategist, markets, market, fades, tariffs, trade, chinese, dips, chinas, dollar, brace, response, bounce


Dollar bounce fades, yuan dips, markets brace for China's response to US tariffs

The dollar was slightly higher on Tuesday and China’s yuan fell as global markets braced for Beijing’s response to new U.S. tariffs on Chinese goods.

The dollar index against a basket of six major currencies was up 0.09 percent at 94.585. The greenback in recent months has benefited from safe-haven flows amid the escalating Sino-U.S. trade conflict.

The index had popped up to 94.607 earlier in the session after U.S. President Donald Trump said on Monday that he will impose 10 percent U.S. tariffs on about $200 billion worth of Chinese imports, effective Sept. 24.

Trump said that if China takes retaliatory action against U.S. farmers or industries, “we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.”

“Of immediate concern to the market is how China responds to the tariffs,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

China’s yuan was a shade weaker at 6.8740 per dollar in onshore trade, though Chinese stocks managed slim gains.

“The dollar’s knee-jerk reaction has subsided somewhat as some equity markets are managing to rise despite the trade news. It appears that a consensus had already been formed beforehand on what the trade announcement would be,” said Shusuke Yamada, currency and equity strategist at Bank of America Merrill Lynch in Tokyo.

The dollar was 0.1 percent higher at 111.94 yen. It had briefly dropped to 111.66 against the yen, another safe-haven currency that draws demand in times of market tensions and risk aversion, before bouncing back.

The Australian dollar, seen as a proxy to China-related trades as well as a barometer of broader risk sentiment, was nearly flat at $0.7176, having climbed off a low of $0.7144 plumbed earlier in the session.

Some analysts doubted Beijing would be in the mood to hold trade negotiations with Washington in the wake of Trump’s latest decision. U.S. Treasury Secretary Steven Mnuchin last week invited top Chinese officials to a new round of talks, but thus far nothing has been scheduled.

The euro was down 0.05 percent at $1.1678 after rising 0.5 percent the previous day.

The pound dipped 0.1 percent to $1.3147.

Sterling had gained 0.7 percent on Monday, hitting a six-week high of $1.3165, helped by reports of progress on the Irish border question, an obstacle to Brexit that diplomats will try to overcome this week at a European Union summit. [GBP/]

Emerging market currencies including the Turkish lira, South African rand and the Mexican peso were all slightly lower on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2018-09-18
Keywords: news, cnbc, companies, yen, yuan, slightly, week, strategist, markets, market, fades, tariffs, trade, chinese, dips, chinas, dollar, brace, response, bounce


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Gold gains as dollar dips on soft US data

Gold rose on Friday as the dollar faltered after softer-than-expected U.S. inflation data dimmed the case for a faster pace of policy tightening by the U.S. Federal Reserve, amid signs of movement in the Sino-U.S. trade standoff. “The trade negotiation is a favour to the (gold) market with the dollar a little bit soft and some shorts being covered. Meanwhile, U.S. consumer prices rose less than expected in August and underlying inflation pressures also appeared to be slowing, suggesting the Fede


Gold rose on Friday as the dollar faltered after softer-than-expected U.S. inflation data dimmed the case for a faster pace of policy tightening by the U.S. Federal Reserve, amid signs of movement in the Sino-U.S. trade standoff. “The trade negotiation is a favour to the (gold) market with the dollar a little bit soft and some shorts being covered. Meanwhile, U.S. consumer prices rose less than expected in August and underlying inflation pressures also appeared to be slowing, suggesting the Fede
Gold gains as dollar dips on soft US data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-14
Keywords: news, cnbc, companies, rising, trade, data, dollar, investors, dips, soft, week, gains, rose, short, prices, ounce, gold


Gold gains as dollar dips on soft US data

Gold rose on Friday as the dollar faltered after softer-than-expected U.S. inflation data dimmed the case for a faster pace of policy tightening by the U.S. Federal Reserve, amid signs of movement in the Sino-U.S. trade standoff.

Spot gold was up 0.4 percent at $1,205.18 an ounce as of 0408 GMT, after having hit its highest since Aug. 28 at $1,212.65 on Thursday. It has gained 0.8 percent so far this week, heading for its first weekly gain in three.

U.S. gold futures were mostly steady at $1,208.50 an ounce.

“The trade negotiation is a favour to the (gold) market with the dollar a little bit soft and some shorts being covered. There is also some physical buying in Shanghai, with premiums rising,” said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong.

The months-long trade rift between Washington and Beijing has prompted investors to buy the U.S. dollar in the belief that the United States has less to lose from the dispute.

Demand for the dollar eased this week on news that the White House had invited Chinese officials to restart trade talks. Beijing welcomed the invitation with the two countries now reported to be discussing the details.

The dollar’s index against a basket of six major currencies was a shade lower at 94.491 after slipping 0.3 percent on Thursday, when it touched 94.428, its lowest since July 31.

Meanwhile, U.S. consumer prices rose less than expected in August and underlying inflation pressures also appeared to be slowing, suggesting the Federal Reserve’s pace of rate hikes could slow.

“With the data falling short of expectations, investors are thinking that the Fed might not go for a rate hike in December, even though a hike in September is definite,” said Ji Ming, chief analyst at Shandong Gold Group.

Higher rates make gold less attractive since it does not pay interest and costs to store and insure.

Gold prices have declined about 12 percent from a peak in April amid intensifying global trade tensions and under pressure from rising U.S. interest rates. This has driven investors towards record short positions in Comex gold and heavy liquidations in gold exchange-traded funds.

“If prices stay around $1,200 levels, it means the markets are still positive. People who shorted below could come and cover, driving prices to $1,250,” said Hidetaka Namiki, chief executive at Singapore-based Asset Management firm Bullionist Capital.

“By looking at the weakness in emerging market currencies and equities being overbought, people are just waiting for the turnaround (in gold).”

Meanwhile, spot silver was up 0.1 percent at $14.18 per ounce. Platinum increased 0.4 percent to $803, after touching a one-month high of $812.30 on Thursday. Palladium fell 0.1 percent to $981.25 per ounce.


Company: cnbc, Activity: cnbc, Date: 2018-09-14
Keywords: news, cnbc, companies, rising, trade, data, dollar, investors, dips, soft, week, gains, rose, short, prices, ounce, gold


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Dollar dips after weak US data, Turkish hike supports emerging currencies

“The dollar has sagged mainly due to the soft U.S. CPI,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo. By tightening policy the central bank demonstrated an independent streak, as Turkish President Tayipp Erdogan is a self-declared enemy of high interest rates. “The rate hike by the Turkish central bank deserves praise but the key point going forward is President Erdogan’s views on the monetary tightening,” said Kota Hirayama, senior emerging market economist at S


“The dollar has sagged mainly due to the soft U.S. CPI,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo. By tightening policy the central bank demonstrated an independent streak, as Turkish President Tayipp Erdogan is a self-declared enemy of high interest rates. “The rate hike by the Turkish central bank deserves praise but the key point going forward is President Erdogan’s views on the monetary tightening,” said Kota Hirayama, senior emerging market economist at S
Dollar dips after weak US data, Turkish hike supports emerging currencies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-14  Authors: fotostorm, getty images, source, gabriel bouys, afp, april greer, the washington post
Keywords: news, cnbc, companies, data, hike, bank, dollar, policy, index, dips, low, central, rose, rate, turkish, currencies, emerging, supports, weak


Dollar dips after weak US data, Turkish hike supports emerging currencies

The dollar dipped on Friday after weaker-than-expected U.S. inflation data, with the currency already sagging on signs of reduced trade tensions between the United States and China.

Emerging currencies, like the South African rand and the Mexican peso, held onto to gains having surged, as investors in emerging markets registered relief that Turkey’s central bank had hiked its policy rate to 24 percent to restore confidence in the lira.

The greenback took a hit overnight after the U.S. consumer price index (CPI), the government’s broadest inflation gauge, rose just 0.2 percent in August and less than the 0.3 percent projected by analysts in a Reuters poll.

“The dollar has sagged mainly due to the soft U.S. CPI,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.

The dollar’s index against a basket of six major currencies was a shade lower at 94.491 after slipping 0.3 percent on Thursday, when it touched 94.428, its lowest since Aug. 31.

The euro inched up 0.05 percent to $1.1695 after gaining more than 0.5 percent overnight when it brushed a two-week high of $1.1701.

The ECB kept policy unchanged as expected on Thursday, staying on track to end its bond purchases this year and raise interest rates next autumn.

The Turkish lira was a shade weaker at 6.137 per dollar after ending the previous day on a gain of more than 4 percent.

The lira surged after Turkey’s central bank raised its benchmark one-week repo rate by 625 basis points to 24 percent on Thursday, in a bid to stabilize the currency, which had slumped to a record low against the dollar a month ago.

By tightening policy the central bank demonstrated an independent streak, as Turkish President Tayipp Erdogan is a self-declared enemy of high interest rates.

Following the lira’s rally, the South African rand gained 1.3 percent against the dollar on Thursday and the Mexican peso rose 1 percent.

MSCI’s emerging markets currency index bounced further away from a 16-month low reached earlier in the week.

“The rate hike by the Turkish central bank deserves praise but the key point going forward is President Erdogan’s views on the monetary tightening,” said Kota Hirayama, senior emerging market economist at SMBC Nikko Securities.

“It is naive to assume that Erdogan will continue respecting central bank independence. The Turkish central bank will lose credibility again and its rate hike will be wasted if monetary policy is disrupted by politics.”

China’s yuan was 0.2 percent weaker at 6.8520 in onshore trade after gaining more than 0.4 percent the previous day.

Data released on Friday showed China’s investment growth for August fall to a new record low, while industrial output and retail sales for the month both rose by more than expected.

The Australian dollar, seen as a proxy for China-related trades as well as a barometer of risk sentiment, was nearly flat at $0.7194.

The Aussie was headed for a gain of more than 1 percent on the week, having pulled back from a 2-1/2-year low of $0.7085 plumbed on Tuesday.

The dollar traded at 111.83 yen after climbing to 112.08 yen, its highest since Aug. 1, with rising equities dimming the Japanese currency’s safe-have allure.


Company: cnbc, Activity: cnbc, Date: 2018-09-14  Authors: fotostorm, getty images, source, gabriel bouys, afp, april greer, the washington post
Keywords: news, cnbc, companies, data, hike, bank, dollar, policy, index, dips, low, central, rose, rate, turkish, currencies, emerging, supports, weak


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Dollar dips on U.S.-Canada talks, markets still nervous over trade woes

China will ask the World Trade Organization next week for permission to impose sanctions on the United States for Washington’s non-compliance with a ruling in a dispute over U.S. dumping duties. The Canadian dollar was little changed at 1.3073 per U.S. dollar after rallying nearly three-fourths of a percent late in the U.S. session on the trade talk news. Still, anxiety over the trade dispute between China and the United States – the world’s top economies – kept many investors on edge. China’s o


China will ask the World Trade Organization next week for permission to impose sanctions on the United States for Washington’s non-compliance with a ruling in a dispute over U.S. dumping duties. The Canadian dollar was little changed at 1.3073 per U.S. dollar after rallying nearly three-fourths of a percent late in the U.S. session on the trade talk news. Still, anxiety over the trade dispute between China and the United States – the world’s top economies – kept many investors on edge. China’s o
Dollar dips on U.S.-Canada talks, markets still nervous over trade woes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-12  Authors: getty images, jonathan ernst, chris hondros, alwyn scott, michael sohn
Keywords: news, cnbc, companies, dips, trade, yen, states, uscanada, traded, markets, canadian, nervous, low, talks, united, market, woes, dollar


Dollar dips on U.S.-Canada talks, markets still nervous over trade woes

The dollar fell on Wednesday as sources said Canada was ready to make a concession to the United States to resolve their talks over reworking the North American Free Trade Agreement, though lingering anxiety over U.S.-China trade tensions weighed.

China will ask the World Trade Organization next week for permission to impose sanctions on the United States for Washington’s non-compliance with a ruling in a dispute over U.S. dumping duties.

“Worries about many things are still lingering so it becomes hard to shift to a mood of aggressive risk taking,” said Kumiko Ishikawa, senior analyst at Sony Financial Holdings.

“The dollar/yen rose yesterday, but those gains are gradually coming off as there isn’t a lot of appetite to take risk,” she said.

The dollar traded slightly lower after two Canadian sources with direct knowledge of Ottawa’s negotiating strategy said overnight Ottawa was ready to offer the United States limited access to the Canadian dairy market as a concession in negotiations to remake NAFTA.

Canada’s protected dairy industry is a major sticking point in NAFTA talks between the two countries. Canadian Foreign Minister Chrystia Freeland returned to Washington on Tuesday for talks aimed at rescuing NAFTA ahead of a looming Oct. 1 deadline.

The dollar index, which measures the greenback against six major currencies, was 0.07 percent lower at 95.185.

The Canadian dollar was little changed at 1.3073 per U.S. dollar after rallying nearly three-fourths of a percent late in the U.S. session on the trade talk news.

Still, anxiety over the trade dispute between China and the United States – the world’s top economies – kept many investors on edge.

China’s offshore yuan traded 0.1 percent weaker at 6.8857 per dollar after hitting a fresh 2-1/2 week low of 6.8888.

The Australian dollar, seen as a proxy for global growth due to the nation’s significant trade exposure to China, shed 0.3 percent to $0.7093.

The Aussie traded near a 2-1/2-year low of $0.7085 hit on Tuesday amid concerns Australia’s exporters could suffer from any damage to the Chinese economy from a trade war.

An index for emerging market currencies was pinned near a 16-month low reached during the previous trading session.

“You can’t deny that emerging markets have fallen and that has weighed on sentiment, and that has probably pushed a lot of flows to the U.S. and the dollar,” said Bart Wakabayashi, Tokyo branch manager at State Street Bank.

“All of this emerging market turmoil on top of all of this trade uncertainty has really driven participants into the dollar and again, to some extent, the yen,” he said.

Turkey’s lira was largely stable ahead of a closely-watched meeting on Thursday by the country’s central bank, where the monetary policy committee is expected to raise interest rates.

The euro was down almost 0.2 percent at $1.1586, while the pound also shed nearly 0.2 percent to $1.3009, coming off a one-month high of $1.3087 reached on Monday as a rise in optimism over prospects for a Brexit trade deal with the European Union faded.

Against the Japanese yen, the dollar fell 0.13 percent to 111.49 yen.


Company: cnbc, Activity: cnbc, Date: 2018-09-12  Authors: getty images, jonathan ernst, chris hondros, alwyn scott, michael sohn
Keywords: news, cnbc, companies, dips, trade, yen, states, uscanada, traded, markets, canadian, nervous, low, talks, united, market, woes, dollar


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Sterling surges on hopes for Brexit deal, yen dips on chipmaker deal

Barnier’s comments were seized on by markets as a signal the UK may avoid a disorderly no-deal Brexit. In recent weeks, sterling had been under pressure on worries that Britain would exit from the EU without any formal trading agreement. On Tuesday, sterling rose about 0.1 percent to $1.3041. Against sterling, the single currency traded at 88.94 pence after slipping to a fresh one-month low of 88.91. The dollar rose 0.3 percent to 111.41 yen as investors also reduced some of their safe-haven hol


Barnier’s comments were seized on by markets as a signal the UK may avoid a disorderly no-deal Brexit. In recent weeks, sterling had been under pressure on worries that Britain would exit from the EU without any formal trading agreement. On Tuesday, sterling rose about 0.1 percent to $1.3041. Against sterling, the single currency traded at 88.94 pence after slipping to a fresh one-month low of 88.91. The dollar rose 0.3 percent to 111.41 yen as investors also reduced some of their safe-haven hol
Sterling surges on hopes for Brexit deal, yen dips on chipmaker deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-11
Keywords: news, cnbc, companies, surges, dips, japanese, rose, brexit, european, yen, deal, dollar, weeks, currency, session, hopes, chipmaker, sterling


Sterling surges on hopes for Brexit deal, yen dips on chipmaker deal

The yen slipped on Tuesday on news a Japanese chipmaker was buying a U.S. peer for $6.7 billion, while sterling held onto overnight gains after the European Union’s top negotiator raised hopes a Brexit deal can be struck in the coming weeks.

Most other major currencies stayed in tight ranges as investors awaited developments in international trade disputes, in particular on any U.S. move to slap fresh duties on China amid heightened tension between the two economic giants.

Monday’s reports that Michel Barnier, the EU’s top negotiator, told a forum in Slovenia that it was “realistic” to expect a Brexit deal in six to eight weeks helped send the pound sharply higher to $1.3052, its highest level since Aug. 2.

Barnier’s comments were seized on by markets as a signal the UK may avoid a disorderly no-deal Brexit. In recent weeks, sterling had been under pressure on worries that Britain would exit from the EU without any formal trading agreement.

On Tuesday, sterling rose about 0.1 percent to $1.3041.

“If the negotiations for Brexit go well it naturally becomes a tailwind for the pound,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

“If Britain achieves Brexit without problems, the advantages for the European Union are big as well.”

The euro was almost flat at $1.1601. It advanced about 0.4 percent during the previous session, helped in part by an easing in concerns over Italian debt.

Against sterling, the single currency traded at 88.94 pence after slipping to a fresh one-month low of 88.91.

Policymakers at the Bank of England and European Central Bank are widely expected to leave their policy settings unchanged at their respective meetings on Thursday.

The dollar index, which tracks the greenback against a basket of six currencies, was nearly flat at 95.140, after losing 0.2 percent overnight.

News that Japanese chipmaker Renesas was buying U.S. counterpart Integrated Device Technology for about $6.7 billion in cash weighed on Japan’s currency.

A U.S. acquisition of this size “creates yen-selling and dollar-buying pressures”, said Ayako Sera, market economist at Sumitomo Mitsui Trust Bank.

The dollar rose 0.3 percent to 111.41 yen as investors also reduced some of their safe-haven holdings of the Japanese currency as the benchmark Nikkei 225 stock index rose more than 1 percent and on hopes of a Brexit deal.

The Australian dollar was 0.15 percent higher at $0.7123, hovering near a more than two-and-a-half year low of $0.7097 reached during the previous session.


Company: cnbc, Activity: cnbc, Date: 2018-09-11
Keywords: news, cnbc, companies, surges, dips, japanese, rose, brexit, european, yen, deal, dollar, weeks, currency, session, hopes, chipmaker, sterling


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Brent crude oil dips on rising OPEC output; looming sanctions on Iran prevent bigger fall

Brent crude oil prices dipped on Monday amid rising supply from OPEC and the United States, although expectations of falling Iranian output once U.S. sanctions bite from November provided some support. International Brent crude oil futures were at $77.59 per barrel at 0046 GMT, down 5 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $69.81 per barrel, virtually unchanged from their last settlement. Output was boosted by a recovery in Libyan production and as


Brent crude oil prices dipped on Monday amid rising supply from OPEC and the United States, although expectations of falling Iranian output once U.S. sanctions bite from November provided some support. International Brent crude oil futures were at $77.59 per barrel at 0046 GMT, down 5 cents from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $69.81 per barrel, virtually unchanged from their last settlement. Output was boosted by a recovery in Libyan production and as
Brent crude oil dips on rising OPEC output; looming sanctions on Iran prevent bigger fall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-03
Keywords: news, cnbc, companies, looming, opec, production, fall, united, rising, iran, dips, crude, brent, output, bpd, sanctions, prevent, futures, supply, barrels, oil, iranian


Brent crude oil dips on rising OPEC output; looming sanctions on Iran prevent bigger fall

Brent crude oil prices dipped on Monday amid rising supply from OPEC and the United States, although expectations of falling Iranian output once U.S. sanctions bite from November provided some support.

International Brent crude oil futures were at $77.59 per barrel at 0046 GMT, down 5 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $69.81 per barrel, virtually unchanged from their last settlement.

Output from the producer cartel of the Organization of the Petroleum Exporting Countries (OPEC) rose by 220,000 barrels per day (bpd) between July and August, to a 2018-high of 32.79 million bpd, a Reuters survey found.

Output was boosted by a recovery in Libyan production and as Iraq’s southern exports hit a record.

Meanwhile, U.S. drillers added oil rigs for the first time in three weeks, energy services firm Baker Hughes reported on Friday, increasing the rig count by 2 units to 862.

The high rig count has helped lift U.S. crude oil production by more than 30 percent since mid-2016, to 11 million bpd.

Despite the dip, Stephen Innes, head of trading for Asia-Pacific at futures brokerage OANDA said Brent was “supported by the notion that U.S. sanctions on Iranian crude oil exports will eventually lead to constricted markets”, which he said would likely push up prices.

“Iranian production is already showing signs of decline, falling by 150,000 barrels per day (bpd) last month … (as) importers of Iranian barrels will already be moving away from taking shipments,” said Edward Bell, commodity analyst at Emirates NBD bank in Dubai.

Many analysts have warned that an economic slowdown because of trade disputes between the United States and other major economies including China and the European Union would drag on oil demand.

OANDA’s Innes said it was too early to say whether this would happen.

“While the analysts continue fretting that $200 billion in tariffs could drag down oil demand, it isn’t at all clear that such type of economic headwinds will topple oil prices given … the constant barrage of supply outages,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-09-03
Keywords: news, cnbc, companies, looming, opec, production, fall, united, rising, iran, dips, crude, brent, output, bpd, sanctions, prevent, futures, supply, barrels, oil, iranian


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