Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political


Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political
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Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal.

Spot gold was up 0.1 percent at $1,226.43 an ounce at 0745 GMT. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26.

U.S. gold futures were up 0.1 percent at $1,229.40 an ounce.

“So far we are seeing a good recipe for gold prices to recover. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. “If the tensions loom large we could see gold rebound through 1,300.”

The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the U.S.-China trade war and tightening financial conditions would trigger the next downturn.

Geo-political concerns including tensions between Saudi Arabia and the West over the killing of journalist Jamal Khashoggi, developments related to Brexit, and Italy’s budget woes are keeping investors interested in gold, analysts said.

Gold is seen as a safe store of value during political and economic uncertainty.

“Trade concerns between the U.S. and China remain elevated and the ongoing U.S.-Saudi tensions are likely to continue to underpin a bid tone for bullion over the near-term,” MKS PAMP Group traders said in a note.

“Supportive price action around $1,210-$1,220 should restrict declines amid current global political uncertainty, while a test through $1,230-$1,235 will likely squeeze further shorts out of the market and see gold toward $1,250.”

Gold speculators cut their net short position in COMEX gold contracts by 65,637 contracts to 37,372 contracts, the smallest since late July, in the week to Oct. 16, data showed.

Spot gold may either consolidate further below a resistance at $1,235 per ounce, or break a support at $1,217, to fall to the next support at $1,208, according to Reuters technical analyst Wang Tao.

Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.39 percent to 745.82 tonnes on Friday.

The U.S. dollar, which measures the greenback against a basket of six major currencies, was down 0.2 percent.

Among other precious metals, silver was up 0.4 percent at $14.65 per ounce, while platinum rose 0.8 percent at $836.20 per ounce.

Palladium climbed 0.9 percent to $1,089.80 per ounce, closer to an over eight-month peak of $1,096.80 hit on Oct. 11.


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Euro rallies as Italian borrowing costs enjoy big drop

The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries. Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable. The euro has often fallen this year when Italian government bond yields have spiked higher. The euro was also 0.2 percent higher at 1.1487 Swiss francs


The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries. Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable. The euro has often fallen this year when Italian government bond yields have spiked higher. The euro was also 0.2 percent higher at 1.1487 Swiss francs
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Euro rallies as Italian borrowing costs enjoy big drop

The euro rallied on Monday as a fall in Italian government borrowing costs after their recent surge introduced some calm into the market, while the promise of more Chinese stimulus helped offset broader political worries.

Rating agency Moody’s downgraded the Italian government’s credit rating on Friday but unexpectedly kept the outlook at stable.

That, together with comments by Deputy Prime Minister Luigi Di Maio that the government was ready to sit down with the European Union amid the ongoing row over Rome’s budget, boosted demand for Italian debt after a sharp selloff in recent weeks.

The euro has often fallen this year when Italian government bond yields have spiked higher.

The single currency rose 0.3 percent to $1.1550, hitting the day’s high and away from recent lows of $1.1433.

The dollar index dropped 0.3 percent to 95.472.

The euro was also 0.2 percent higher at 1.1487 Swiss francs, and gained 0.2 percent versus sterling to 88.26 pence.

Despite the euro’s rally, analysts said it remained at the mercy of Italian developments, with a great deal of uncertainty ahead.

“…A full diary of risk events over the next two weeks and little to argue in favour of support from the ECB (European Central Bank) in the near future, the question remains over how far the yield gap can blow out and how this could translate back into the FX market,” said Simon Derrick, chief currency strategist at BNY Mellon.

Equity markets were largely in positive territory as hopes that China’s tax cuts next year could be worth more than one percent of gross domestic product sparked a rally in Asian shares that fed across to Europe.

That helped offset geopolitical concerns about the rift between Saudi Arabia and the West over the killing of a prominent critic of the kingdom, as well as worries about Britain securing an exit deal with the EU.

Forex markets were largely quiet, although the more positive tone at the start of the week did buoy sentiment.

For the dollar, a hawkish Federal Reserve and signs of continued strength in the U.S. economy remain key drivers.

“Markets will be closely watching the release of the U.S. advance GDP number on Friday for more clarity on the direction of the U.S. dollar,” said Sim Moh Siong, currency strategist at Bank of Singapore.

The dollar rose versus the Japanese yen. The yen fetched 112.71, down 0.2 percent on the day and off a one-month high of 111.61 touched on Oct. 15.

The yen had benefited from rising risk around Brexit, the Italy budget plan and trade tensions, because investors tend to buy the Japanese currency when they are nervous.

The Canadian dollar changed hands at 1.3080 on its U.S. counterpart, within striking distance of a five-week low of 1.3132 hit on Friday on the back of weaker inflation and retail sales.

The Australian dollar, often considered a barometer for global risk appetite, traded at $0.7122, flat on the day.


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Euro weak as Italian budget raises EU political risks, yen weakens

The euro hovered near a one-week low against the dollar on Friday as the European Commission’s criticism of Italy’s populist budget sparked fresh concerns about political tensions in the common currency zone. That rise was driven by a steep fall in the euro on Thursday, which constitutes around 57 percent of the index. This has sparked investor concerns about more political tensions in the EU between Brussels and member states, which has hurt the euro. The British pound hit a fresh 11-day low on


The euro hovered near a one-week low against the dollar on Friday as the European Commission’s criticism of Italy’s populist budget sparked fresh concerns about political tensions in the common currency zone. That rise was driven by a steep fall in the euro on Thursday, which constitutes around 57 percent of the index. This has sparked investor concerns about more political tensions in the EU between Brussels and member states, which has hurt the euro. The British pound hit a fresh 11-day low on
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Euro weak as Italian budget raises EU political risks, yen weakens

The euro hovered near a one-week low against the dollar on Friday as the European Commission’s criticism of Italy’s populist budget sparked fresh concerns about political tensions in the common currency zone.

The dollar index, a gauge of its value against major peers, was 0.05 percent higher at 95.96 on Friday, having closed on Thursday at its highest level since Aug. 21. That rise was driven by a steep fall in the euro on Thursday, which constitutes around 57 percent of the index.

The euro was relatively flat at $1.1454 on Friday, steadying slightly after losing 0.4 percent overnight. The single currency hit its lowest intra-day level of 1.1447 since Oct. 9 on Thursday after the European Commission said Italy’s 2019 budget draft is in serious breach of European Union budget rules.

The Commission said in a letter to Italian Economy Minister Giovanni Tria, that planned government spending was too high, the structural deficit – excluding one-offs and business cycle effects – would rise instead, not fall, and that Italian public debt would not come down in line with EU rules.

This has sparked investor concerns about more political tensions in the EU between Brussels and member states, which has hurt the euro.

The gap between Italian and German 10-year bond yield spreads hit its widest level in 5-1/2 years after news of the Commission letter broke.

Italy’s prime minister defended the nation’s free spending budget, though markets were not impressed.

“The euro decline reflects the build up of political tension in the eurozone,” said Sim Moh Siong, currency strategist at Bank of Singapore.

“The next support for the euro is at 1.1430, a break of which can take us down to 1.13.”

The British pound hit a fresh 11-day low on Friday, but rebounded slightly to quote at $1.3020 versus the dollar.

Traders placed bearish bets on the sterling as a EU-UK summit failed to yield a decision on Britain’s exit from the euro zone.

British Prime Minister Theresa May, on Thursday said that the European Union’s proposal on the Irish border was unacceptable.

“Unless we get positive noises from Brussels, the impasse on Brexit and softer economic data suggests that the pound could underperform,” said Boris Schlossberg, managing director of currency strategy in a note.

The Japanese yen weakened 0.17 percent versus the dollar on Friday, to trade at 112.31.

The greenback lost 0.4 percent of its value to the yen on Thursday, reflecting the global risk-off mood due to rising geopolitical tensions between the U.S. and Saudi Arabia, Italy’s budget woes and U.S-Sino trade war tensions.

Wall street benchmark equity indices also tumbled more than 1.2 percent each, with technology stocks leading the pack.

China’s economic growth in the third quarter slowed to 6.5 percent, its weakest pace since 2009 and below expectations, as a campaign to tackle debt risks and the trade war with the United States weighed on the economy.

The yuan changed hands at 6.9339 on Friday, trading flat versus the dollar, after recovering from its intra-day low of 6.9416.

“Expectations have increased for the Chinese yuan to depreciate towards its psychological 7 level against the USD,” said Eugene Leow, rates strategist at DBS in a note.

Gold edged higher by 0.25 percent on Friday to trade at $1,227 per ounce.


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Gold holds steady amid firmer dollar

Gold prices held steady early Thursday, after dipping in the previous session on a firmer dollar after minutes of the Federal Reserve’s September meeting reinforced expectations of a tighter U.S. monetary policy. Spot gold was up 0.1 percent at $1,223.13 an ounce at 0107 GMT. U.S. gold futures were down 0.1 percent at $1,226.40 an ounce. The dollar traded stronger versus its major peers on Thursday after minutes from the U.S. Federal Reserve’s September meeting affirmed expectations that the cen


Gold prices held steady early Thursday, after dipping in the previous session on a firmer dollar after minutes of the Federal Reserve’s September meeting reinforced expectations of a tighter U.S. monetary policy. Spot gold was up 0.1 percent at $1,223.13 an ounce at 0107 GMT. U.S. gold futures were down 0.1 percent at $1,226.40 an ounce. The dollar traded stronger versus its major peers on Thursday after minutes from the U.S. Federal Reserve’s September meeting affirmed expectations that the cen
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Gold holds steady amid firmer dollar

Gold prices held steady early Thursday, after dipping in the previous session on a firmer dollar after minutes of the Federal Reserve’s September meeting reinforced expectations of a tighter U.S. monetary policy.

Spot gold was up 0.1 percent at $1,223.13 an ounce at 0107 GMT. On Monday, it touched its highest since July 26 at $1,233.26 an ounce.

U.S. gold futures were down 0.1 percent at $1,226.40 an ounce.

The dollar traded stronger versus its major peers on Thursday after minutes from the U.S. Federal Reserve’s September meeting affirmed expectations that the central bank is likely to continue raising interest rates this year.

Fed policymakers are largely united on the need to raise borrowing costs further, minutes from their most recent policy meeting show, despite U.S. President Donald Trump’s view that interest rate hikes have already gone too far.

White House economic advisor Larry Kudlow said on Wednesday that Trump was not demanding a policy change after heaping more criticism on the Fed on Tuesday, when he called rising U.S. interest rates his “biggest threat.”

Trump said on Wednesday he did not want to abandon close ally Saudi Arabia over the disappearance of a Saudi journalist and government critic, and he needed to see evidence to prove Turkish claims he was killed by Saudi agents.

U.S. homebuilding dropped more than expected in September as construction activity in the South fell by the most in nearly three years, likely held down by Hurricane Florence.

Asian stocks edged lower on Thursday, with MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.3 percent.

China’s new bank loans rebounded in September after dipping in the two previous months, central bank data showed, but overall credit conditions stayed tight in an economy chilled by an ongoing tariff war with the United States.

British Prime Minister Theresa May assured EU leaders in Brussels on Wednesday that she can still reach a Brexit deal, avoiding a showdown over stalled talks as Brussels stepped up planning for a failure of negotiations.

The commissioner for the EU budget, Guenther Oettinger, on Wednesday denied a media report saying the EU Commission had already decided to reject Italy’s draft budget for next year.


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Procter & Gamble is testing 3D printed Gillette razors

“Earlier this year we introduced a range of new razor products and declared that ‘one size’ does not fit all men when it comes to razors,” he said in an online statement. “The Razor Maker pilot furthers our commitment to place power in the hands of consumers,” he added. P&G is competing against newer rivals such as Dollar Shave Club, the subscription company bought by Unilever for a reported $1 billion in 2016. In May 2017, Gillette launched its own on-demand service and earlier this year expand


“Earlier this year we introduced a range of new razor products and declared that ‘one size’ does not fit all men when it comes to razors,” he said in an online statement. “The Razor Maker pilot furthers our commitment to place power in the hands of consumers,” he added. P&G is competing against newer rivals such as Dollar Shave Club, the subscription company bought by Unilever for a reported $1 billion in 2016. In May 2017, Gillette launched its own on-demand service and earlier this year expand
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Procter & Gamble is testing 3D printed Gillette razors

This startup wants to become the Dollar Shave Club of adult diapers 8:59 AM ET Sat, 18 Aug 2018 | 02:09

Gillette has used the slogan “The Best A Man Can Get,” since 1989, and guys now want razors more tailored to their needs, according to P&G’s director for Gillette and Venus North America, Pankaj Bhalla. “Earlier this year we introduced a range of new razor products and declared that ‘one size’ does not fit all men when it comes to razors,” he said in an online statement. “The Razor Maker pilot furthers our commitment to place power in the hands of consumers,” he added.

P&G is competing against newer rivals such as Dollar Shave Club, the subscription company bought by Unilever for a reported $1 billion in 2016. In May 2017, Gillette launched its own on-demand service and earlier this year expanded it so that people can add photos and text to their razor handles.

On Tuesday, P&G was told it is now exempt from the 25 percent U.S. tariff levied on the steel it imports from Japan and Sweden for razor blades, nearly four months after its rival Edgewell Personal Care, which makes Wilkinson Sword and Schick blades, got a similar exemption.

Both manufacturers said they needed to go overseas for steel suppliers, because U.S. producers cannot supply steel of a high enough grade, according to a Reuters report.


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Dollar rises as 2-year Treasury yield hits multiyear high

The U.S. dollar index traded at a more-than one-week highs on Thursday as Treasury yields traded near multiyear highs, after minutes from the Federal Reserves September meeting showed that Fed policy makers are largely united on the need to raise borrowing costs further. Benchmark 10-year Treasury yields jumped to 3.21 percent, before slipping. China’s currency traded near a three-month low against the dollar at 6.9490 yuan per dollar, after a semiannual report by the U.S. Treasury refrained fro


The U.S. dollar index traded at a more-than one-week highs on Thursday as Treasury yields traded near multiyear highs, after minutes from the Federal Reserves September meeting showed that Fed policy makers are largely united on the need to raise borrowing costs further. Benchmark 10-year Treasury yields jumped to 3.21 percent, before slipping. China’s currency traded near a three-month low against the dollar at 6.9490 yuan per dollar, after a semiannual report by the U.S. Treasury refrained fro
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Dollar rises as 2-year Treasury yield hits multiyear high

The U.S. dollar index traded at a more-than one-week highs on Thursday as Treasury yields traded near multiyear highs, after minutes from the Federal Reserves September meeting showed that Fed policy makers are largely united on the need to raise borrowing costs further.

That came despite U.S. President Donald Trump’s view that interest rate hikes have already gone too far. Benchmark 10-year Treasury yields jumped to 3.21 percent, before slipping. The two-year note yield rose to its highest level in more than a decade, breaking above 2.9 percent.

The Treasury market leaked higher in yield yesterday following the FOMC minutes, and that got a bit of attention, said Brian Daingerfield, a macro strategist at NatWest Markets in Stamford, Connecticut.

“For the broader dollar, the interplay is how does the dollar trade relative to whats going on interest rates and whats going on in the broader risk environment? Daingerfield said.

The dollar index measuring the greenback against a basket of currencies gained 0.38 percent on the day to 95.94, around its highest level since Oct. 9.

China’s currency traded near a three-month low against the dollar at 6.9490 yuan per dollar, after a semiannual report by the U.S. Treasury refrained from naming China a currency manipulator but showed concern about yuan depreciation.

“Of particular concern are China’s lack of currency transparency and the recent weakness in its currency,” said Treasury Secretary Steven Mnuchin.

The yuan’s moves over the coming six months, the U.S. explicitly noted that it stands ready to name China in its April 2019 report, Citigroup analyst Calvin Tse said in a report.

Deutsche Bank strategists termed the Treasury report “as a bit of an escalation without being too dramatic.”


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China’s currency is expected to fall below its own ‘red line,’ prompting more complaints from US

Some strategists say China has been trying to prevent the yuan’s decline from becoming too disruptive or triggering a capital flight out of the country. But a number of them say China could also now let the yuan fall through 7 later this year or next year. “In our view there’s no reason why the depreciation of the Chinese yuan should stop at the level of 7. It’s a psychological level, but we actually think the Chinese yuan will continue to weaken,” said David. China’s third quarter GDP is expect


Some strategists say China has been trying to prevent the yuan’s decline from becoming too disruptive or triggering a capital flight out of the country. But a number of them say China could also now let the yuan fall through 7 later this year or next year. “In our view there’s no reason why the depreciation of the Chinese yuan should stop at the level of 7. It’s a psychological level, but we actually think the Chinese yuan will continue to weaken,” said David. China’s third quarter GDP is expect
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China's currency is expected to fall below its own 'red line,' prompting more complaints from US

The yuan on Thursday fell as China’s stock markets sold off sharply amid fears of margin calls and more losses. The yuan touched 6.94 to the U.S. dollar, its lowest level since January 2017. Markets are watching to see if it will get to 7 yuan to the dollar, a level not seen for 10 years.

“Its a red line because it’s psychological and also because China previously seemed to defend it verbally,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. He said the move to 7 is likely but not until after President Donald Trump and Chinese President Xi Jinping meet in November, and discuss trade.

Strategists say the trade conflict between the U.S. and China is a factor that has been strengthening the dollar, and weakening the yuan. The yuan began falling markedly in June when trade tensions flared. But strategists say there are other factors at work that have been weakening the currency, and much of them are domestic, including the steep drop in stock prices.

Shanghai stocks were down 2.9 percent on Thursday and are down 25 percent since the start of the year.

Some strategists say China has been trying to prevent the yuan’s decline from becoming too disruptive or triggering a capital flight out of the country. But a number of them say China could also now let the yuan fall through 7 later this year or next year.

“Typically, it’s seen as an important psychological threshold but now that the renminbi is falling from 6.3 to 6.9, and there’s been no significant outflows form China, we think the PBOC is confident they can manage a further fall below 7 without a destabilizing decline.” said Chang Liu, Chinese economist at Capital Economics.

There are signs that China is trying to support the renminbi, as the yuan is also called. September data from the People’s Bank of China shows the central bank tried to stem losses.

“They sold FX to support the renminbi…about $17 billion worth of reserves, the most since the start of 2017,” Liu said.

The People’s Bank of China each day sets a rate for the yuan, allowing it to trade in a band against the dollar that is 2 percent on either side of its midpoint value. That is the onshore currency, or CNY. The offshore currency CNH is used by foreign investors and banks, and it typically lags the CNY.

Jonas David, emerging market strategist at UBS Global Wealth Management’s chief investment office, said the declining yuan is linked to the softening of the Chinese economy. “We clearly see an economy that is softening. We see further monetary and fiscal policy easing,” he said.

David said he expects to see the yuan reach 7.10 over the next six months and 7.30 to the dollar within a year. “In our view there’s no reason why the depreciation of the Chinese yuan should stop at the level of 7. It’s a psychological level, but we actually think the Chinese yuan will continue to weaken,” said David.

When the Treasury issued its currency report Wednesday, Treasury Secretary Steven Mnuchin said in a statement that China’s lack of transparency and weakening currency pose “major challenges to achieving fairer and more balanced trade, and we will continue to monitor and review China’s currency practices, including ongoing discussions with the People’s Bank of China.”

Liu said the weaker yuan has helped China avoid the worst impact of trade tariffs.

“So far we think the tariffs impact will more or less be offset by the fall in the renminbi. We’ll see a bit of an increasing headwind next year, as tariffs come up. The economy is slowing but mainly due to domestic factors, the policy makers have been tightening policy since 2016 to earlier this year,” he said, adding a credit slowdown has had an impact on the economy.

But since May, he said there’s been a shift in priorities and China is now using stimulus to boost the economy and encourage bank lending.

China’s third quarter GDP is expected to show a slight decline Friday, falling to 6.6 percent from 6.7 percent.

“There’s a lag between the start of policy and how long it takes to feed through,” said Liu. “We think it will slow for another nine months.”


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Gold inches down as equities, dollar firm; Fed minutes in focus

The firming in equities and the dollar has led to the market discounting U.S. President Donald Trump’s latest criticism of the Fed, which should have otherwise been supportive of gold, a Singapore-based trader said. Last week, Trump criticized the U.S. central bank twice, saying it was raising interest rates so swiftly that it threatened the country’s economic health. The Fed raised interest rates last month for the third time this year and said it planned four more increases by the end of 2019


The firming in equities and the dollar has led to the market discounting U.S. President Donald Trump’s latest criticism of the Fed, which should have otherwise been supportive of gold, a Singapore-based trader said. Last week, Trump criticized the U.S. central bank twice, saying it was raising interest rates so swiftly that it threatened the country’s economic health. The Fed raised interest rates last month for the third time this year and said it planned four more increases by the end of 2019
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Gold inches down as equities, dollar firm; Fed minutes in focus

Gold prices edged lower early Wednesday as equities gained and the dollar firmed amid waning risk-averse sentiment, with the market awaiting minutes from the U.S. Federal Reserve’s latest policy meeting for fresh clues on the pace of interest rate hikes.

Spot gold was down 0.2 percent to $1,221.56 per ounce at 0438 GMT, but still near a 2-1/2-month high of $1,233.26 per ounce hit on Monday.

U.S. gold futures were down 0.5 percent at $1,225.2 an ounce.

“The newly minted gold bulls are getting nervous as they haven’t bought at good levels. They were in pretty much at the top and we see those guys exiting the market,” said Stephen Innes, APAC trading head at OANDA in Singapore.

Asian equities rose on Wednesday after upbeat U.S. earnings reports drove a rebound on Wall Street.

The dollar index, which measures the greenback against a basket of six major currencies, was up 0.1 percent.

The firming in equities and the dollar has led to the market discounting U.S. President Donald Trump’s latest criticism of the Fed, which should have otherwise been supportive of gold, a Singapore-based trader said.

Trump heaped more criticism on the Fed, calling it ‘my biggest threat’ in an interview with Fox Business Network on Tuesday.

Last week, Trump criticized the U.S. central bank twice, saying it was raising interest rates so swiftly that it threatened the country’s economic health.

The Fed raised interest rates last month for the third time this year and said it planned four more increases by the end of 2019 and another in 2020.

“The current case of interest rates normalisation is quite cemented and this is taking a little bit of the froth off gold markets,” Innes said.

The release of the minutes from the Fed’s September policy meeting is due at 1800 GMT, Wednesday.

Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion.

Spot gold still targets a range of $1,208-$1,217 per ounce, as it failed to break a strong resistance at $1,235, according to Reuters technical analyst Wang Tao.

Gold, usually seen as a safe store of value during political and economic uncertainty, remains more than 10 percent down from its April peak after investors preferred the dollar as the U.S.-China trade war unfolded against a background of higher U.S. interest rates.

In other metals, silver dipped 0.3 percent to $14.60 per ounce, platinum was up 0.1 percent at $838.0 per ounce, and palladium fell 0.3 percent to $1,075.97.


Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, prices, market, firm, policy, focus, ounce, inches, dollar, interest, equities, fed, gold, minutes, rates


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Dollar gains after US shares rise, yen slips as risk appetites improve

The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets. The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency. Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions. The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The Australian dollar, often considered a baromet


The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets. The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency. Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions. The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The Australian dollar, often considered a baromet
Dollar gains after US shares rise, yen slips as risk appetites improve Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, wall, dollar, appetites, risk, traded, yen, slips, global, fed, gain, shares, gains, rise, improve, trading, hit, greenback


Dollar gains after US shares rise, yen slips as risk appetites improve

The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets.

The three main Wall Street indexes each rose by more than 2 percent as blue-chips delivered strong earnings indicating that the U.S. economic recovery is on track despite rising interest rates and global trade war tensions.

Data on Tuesday showed that U.S. industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter

The dollar index, a gauge of its value against six major peers, rose 0.14 percent to quote at 95.18 on Wednesday.

The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency.

Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions.

“The rebound in global sentiment has taken the appreciation pressure off the yen,” said Stuart Ritson, portfolio manager, emerging markets debt at Aviva Investors.

Market participants will be looking for clues on the dollar’s direction and the path ahead on U.S. interest-rate hikes from minutes of the Federal Reserve’s September meeting, due for release later on Wednesday.

Interest rate futures are pricing in a 77 percent likelihood that the Fed will again raise rates in December, according to the CME Group’s FedWatch Tool.

“The Fed is close to neutrality and the FOMC will pause when the Fed funds rate gets to 2.75 percent,” Brian Martin, ANZ head of global economics, said in a note.

“While there are upside risks to our forecasts, we think the Fed will struggle to raise the Fed funds target much beyond 3.0 percent,” he added.

The British pound was at $1.3175, down 0.1 percent, after tacking a gain of 0.25 percent on Tuesday.

While sterling was supported by Tuesday’s stronger than expected British employment data, investors are still doubtful that the European Union Summit on Wednesday will yield much progress on the Northern Island border issue blocking a Brexit agreement.

On Wednesday, the euro traded lower at $1.1560, down 0.1 percent. On Tuesday, the single currency reached $1.1622 – its highest since Oct. 1 – before giving up its gains.

The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The kiwi clocked a gain of 0.5 percent on Tuesday as domestic inflation picked up stronger than expected.

The Australian dollar, often considered a barometer of global risk appetite, lost 0.07 percent to US$0.7135. The Aussie has gained marginally against the greenback over the past two trading sessions. It hit a more than two-year low of US$0.7039 on Oct. 8.

Gold lost 0.16 percent to trade at $1,223 per ounce on Wednesday. The yellow metal hit its highest level since July 27 on Monday, hitting an intra-day high of $1,233 per ounce.


Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, wall, dollar, appetites, risk, traded, yen, slips, global, fed, gain, shares, gains, rise, improve, trading, hit, greenback


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Here’s how investors can save the world, one dollar at a time

Whether you’re looking to avoid companies that have questionable environmental practices or to reward those that prioritize gender equality, there’s an investment strategy for that. Say hello to sustainable investing, which you may also know as socially responsible investing, a way for individuals to make a social impact with their dollars. This investment strategy involves promoting companies that prioritize human rights and environmental stewardship and passing over those with an ethos that’s


Whether you’re looking to avoid companies that have questionable environmental practices or to reward those that prioritize gender equality, there’s an investment strategy for that. Say hello to sustainable investing, which you may also know as socially responsible investing, a way for individuals to make a social impact with their dollars. This investment strategy involves promoting companies that prioritize human rights and environmental stewardship and passing over those with an ethos that’s
Here’s how investors can save the world, one dollar at a time Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: darla mercado, connie j spinardi, getty images
Keywords: news, cnbc, companies, know, heres, environmental, companies, investment, investors, world, save, dollar, investing, socially, responsible, prioritize, good, strategy


Here's how investors can save the world, one dollar at a time

Whether you’re looking to avoid companies that have questionable environmental practices or to reward those that prioritize gender equality, there’s an investment strategy for that.

Say hello to sustainable investing, which you may also know as socially responsible investing, a way for individuals to make a social impact with their dollars.

This investment strategy involves promoting companies that prioritize human rights and environmental stewardship and passing over those with an ethos that’s incompatible with those priorities.

“This is a style of investing that excludes certain companies that might not be good for our society,” said Douglas A. Boneparth, a certified financial planner and president of Bone Fide Wealth in New York.

“They might not have proper governance, and they might not be good for our environment,” he said.

Indeed, 1 in 3 investors have considered making socially responsible investments, according to a survey from TD Ameritrade. The firm took an online poll in March of 1,056 adults with at least $250,000 in investable assets.

Here’s what you should know.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: darla mercado, connie j spinardi, getty images
Keywords: news, cnbc, companies, know, heres, environmental, companies, investment, investors, world, save, dollar, investing, socially, responsible, prioritize, good, strategy


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