Bitcoin extends losses, slides under $3500 to lowest since September 2017

Bitcoin won’t have bottomed until 3K flat level, says Genesis Trading’s Moro 8:40 AM ET Fri, 23 Nov 2018 | 07:56Bitcoin had a rough weekend. Coming off a week of heavy losses, bitcoin fell 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDesk. Over seven days, bitcoin has now lost more than 35 percent of its value, according to CoinDesk. This marks its biggest one-week drop since April 2013, when the cryptocurrency fell more than 44 percent, according to CoinDesk


Bitcoin won’t have bottomed until 3K flat level, says Genesis Trading’s Moro 8:40 AM ET Fri, 23 Nov 2018 | 07:56Bitcoin had a rough weekend. Coming off a week of heavy losses, bitcoin fell 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDesk. Over seven days, bitcoin has now lost more than 35 percent of its value, according to CoinDesk. This marks its biggest one-week drop since April 2013, when the cryptocurrency fell more than 44 percent, according to CoinDesk
Bitcoin extends losses, slides under $3500 to lowest since September 2017 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-25  Authors: kate rooney, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, 2017, weekendcoming, lowest, 3500, slides, losses, level, wont, worlds, coindesk, fell, according, bitcoin, cryptocurrency, extends


Bitcoin extends losses, slides under $3500 to lowest since September 2017

Bitcoin won’t have bottomed until 3K flat level, says Genesis Trading’s Moro 8:40 AM ET Fri, 23 Nov 2018 | 07:56

Bitcoin had a rough weekend.

Coming off a week of heavy losses, bitcoin fell 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDesk. This is the cryptocurrency’s lowest level since September 2017.

Over seven days, bitcoin has now lost more than 35 percent of its value, according to CoinDesk. This marks its biggest one-week drop since April 2013, when the cryptocurrency fell more than 44 percent, according to CoinDesk.

The recent downturn started in mid-November, when bitcoin first abruptly fell below $6,000. Since then, the world’s largest cryptocurrency continues to find new lows and has struggled to break out of the $4,000 range.

The November losses are a notable reversal from bitcoin’s surprisingly stable October. The cryptocurrency had been trading comfortably in the $6,400 range after a volatile year, while major U.S. stock markets fluctuated.


Company: cnbc, Activity: cnbc, Date: 2018-11-25  Authors: kate rooney, yu chun christopher wong, getty images
Keywords: news, cnbc, companies, 2017, weekendcoming, lowest, 3500, slides, losses, level, wont, worlds, coindesk, fell, according, bitcoin, cryptocurrency, extends


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Oil extends slide from 7 percent slump the day before as outlook darkens

U.S. West Texas Intermediate (WTI) crude oil futures were at $55.50 per barrel at 0514 GMT, down 19 cents from their last settlement. International benchmark Brent crude oil futures were down 22 cents at $65.25 per barrel. The slump in spot prices has turned the entire forward curve for crude oil upside down. By mid-November, the curve had flipped into contango, when crude prices for immediate delivery are cheaper than those for later dispatch. “This will, in our view, cap any upside above $85 p


U.S. West Texas Intermediate (WTI) crude oil futures were at $55.50 per barrel at 0514 GMT, down 19 cents from their last settlement. International benchmark Brent crude oil futures were down 22 cents at $65.25 per barrel. The slump in spot prices has turned the entire forward curve for crude oil upside down. By mid-November, the curve had flipped into contango, when crude prices for immediate delivery are cheaper than those for later dispatch. “This will, in our view, cap any upside above $85 p
Oil extends slide from 7 percent slump the day before as outlook darkens Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14
Keywords: news, cnbc, companies, crude, million, output, extends, surge, slump, supply, later, slide, day, oil, outlook, prices, darkens, production, opec


Oil extends slide from 7 percent slump the day before as outlook darkens

Oil markets slipped again on Wednesday, extending losses from a 7 percent plunge the previous session as surging supply and the spectre of faltering demand scared off investors.

U.S. West Texas Intermediate (WTI) crude oil futures were at $55.50 per barrel at 0514 GMT, down 19 cents from their last settlement.

International benchmark Brent crude oil futures were down 22 cents at $65.25 per barrel.

Crude oil has lost over a quarter of its value since early October in what has become one of the biggest declines since prices collapsed in 2014.

The slump in spot prices has turned the entire forward curve for crude oil upside down.

Spot prices in September were significantly higher than those for later delivery, a structure known as backwardation that implies a tight market as it is unattractive to put oil into storage.

By mid-November, the curve had flipped into contango, when crude prices for immediate delivery are cheaper than those for later dispatch. That implies an oversupplied market as it makes it attractive to store oil for later sale.

Oil markets are being pressured from two sides: a surge in supply and increasing concerns about an economic slowdown.

U.S. crude oil output from its seven major shale basins is expected to hit a record of 7.94 million barrels per day (bpd) in December, the U.S. Department of Energy’s Energy Information Administration (EIA) said on Tuesday.

That surge in onshore output has helped overall U.S. crude production hit a record 11.6 million bpd, making the United States the world’s biggest oil producer ahead of Russia and Saudi Arabia.

Most analysts expect U.S. output to climb above 12 million bpd within the first half of 2019.

“This will, in our view, cap any upside above $85 per barrel (for oil prices),” said Jon Andersson, head of commodities at Vontobel Asset Management.

The surge in U.S. production is contributing to rising stockpiles.

U.S. crude stocks climbed by 7.8 million barrels in the week ending Nov. 2 to 432 million as refineries cut output, data from industry group the American Petroleum Institute showed on Tuesday.

The producer cartel of the Organization of the Petroleum Exporting Countries (OPEC) has been watching the jump in supply and price slump with concern.

OPEC has been making increasingly frequent public statements that it would start withholding crude in 2019 to tighten supply and prop up prices.

“OPEC and Russia are under pressure to reduce current production levels, which is a decision that we expect to be taken at the next OPEC meeting on Dec. 6,” said Andersson.

That puts OPEC on a collision course with U.S. President Donald Trump, who publicly supports low oil prices and who has called on OPEC not to cut production.


Company: cnbc, Activity: cnbc, Date: 2018-11-14
Keywords: news, cnbc, companies, crude, million, output, extends, surge, slump, supply, later, slide, day, oil, outlook, prices, darkens, production, opec


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Oil extends losses as other markets fall, inventories rise

Oil prices fell to two-week lows on Thursday as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing U.S. crude inventories rose more than expected. Crude inventories climbed by 9.7 million barrels in the week to Oct. 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels. In the U.S. Gulf of Mexico, producers have cut daily oil production by roughly 42 percent due


Oil prices fell to two-week lows on Thursday as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing U.S. crude inventories rose more than expected. Crude inventories climbed by 9.7 million barrels in the week to Oct. 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels. In the U.S. Gulf of Mexico, producers have cut daily oil production by roughly 42 percent due
Oil extends losses as other markets fall, inventories rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11
Keywords: news, cnbc, companies, rise, barrels, oil, inventories, fall, expected, rose, crude, week, extends, production, million, markets, losses


Oil extends losses as other markets fall, inventories rise

Oil prices fell to two-week lows on Thursday as they extended big losses from the previous session amid a rout in global stock markets, with oil also taking a hit from an industry report showing U.S. crude inventories rose more than expected.

Supply worries also eased as Hurricane Michael likely spared oil assets from significant damage as it smashed into Florida, even as it caused at least one death, injuries and widespread destruction.

Brent crude futures were down $1.22, or 1.5 percent, at $81.87 a barrel by 0237 GMT. They earlier touched their lowest since Sept. 28 at $81.61, after closing 2.2 percent lower on Wednesday.

U.S. West Texas Intermediate (WTI) crude futures were down by $1, or 1.4 percent, at $72.17, having also fallen to their lowest since Sept. 28. They dropped 2.4 percent in the previous session.

Stocks on major world markets slid to a three-month low on Wednesday, with the benchmark S&P500 stock index falling more than 3 percent, its biggest one-day decline since February.

Technology shares tumbled on fears of slowing demand and concerns about U.S.-China tensions. Japan’s Nikkei 225 was down nearly 4 percent on Thursday.

“Ugly, very very ugly,” Greg McKenna an independent market strategist based near Sydney said in a morning note, referring to declines in global markets including oil.

U.S. crude stockpiles rose more than expected last week, while gasoline inventories increased and distillate stocks drew, industry group the American Petroleum Institute said on Wednesday.

Crude inventories climbed by 9.7 million barrels in the week to Oct. 5 to 410.7 million, compared with analyst expectations for an increase of 2.6 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 2.2 million barrels, API said. [API/S]

The U.S. Energy Information Administration (EIA) is due to release official government inventory data Thursday at 11 a.m. EDT.

In the U.S. Gulf of Mexico, producers have cut daily oil production by roughly 42 percent due to the storm, the Bureau of Safety and Environmental Enforcement said. The cuts represent 718,877 barrels per day of oil production.

While production has been cut because of the hurricane, “down time is expected to be brief and Gulf of Mexico output now accounts for a comparatively small portion of total U.S. production,” Jim Ritterbusch, president of Ritterbusch and Associates, said in a note.

U.S. oil output is expected to rise 1.39 million bpd to a record 10.74 million bpd, the EIA said in its monthly forecast on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2018-10-11
Keywords: news, cnbc, companies, rise, barrels, oil, inventories, fall, expected, rose, crude, week, extends, production, million, markets, losses


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Russia raises key rate to 7.50 percent, extends pause in FX buying

The Russian central bank raised its key interest rate to 7.50 percent on Friday and said it would not make any foreign currency purchases until the end of the year, citing the risk of higher inflation and rouble volatility. It was the first time the central bank had raised the key rate since late 2014 when it had to step in to help stabilise the tanking rouble. “The increase of the key rate will help maintain real interest rates on deposits in positive territory, which will support the attractiv


The Russian central bank raised its key interest rate to 7.50 percent on Friday and said it would not make any foreign currency purchases until the end of the year, citing the risk of higher inflation and rouble volatility. It was the first time the central bank had raised the key rate since late 2014 when it had to step in to help stabilise the tanking rouble. “The increase of the key rate will help maintain real interest rates on deposits in positive territory, which will support the attractiv
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Company: cnbc, Activity: cnbc, Date: 2018-09-14  Authors: andrey rudakov, bloomberg, getty images, sam clune, john gress, tom williams, cq-roll call group
Keywords: news, cnbc, companies, rate, raised, buying, fx, central, inflation, bank, end, extends, rouble, expected, russia, 750, raises, key, help, pause


Russia raises key rate to 7.50 percent, extends pause in FX buying

The Russian central bank raised its key interest rate to 7.50 percent on Friday and said it would not make any foreign currency purchases until the end of the year, citing the risk of higher inflation and rouble volatility.

It was the first time the central bank had raised the key rate since late 2014 when it had to step in to help stabilise the tanking rouble.

The rouble firmed after the decision, trading at 67.88 versus the dollar compared with 68.41 shortly before.

“The increase of the key rate will help maintain real interest rates on deposits in positive territory, which will support the attractiveness of savings and balanced growth in consumption,” the central bank said in a statement.

Analysts polled by Reuters had mostly expected the central bank to hold the rate at 7.25 percent, as it had done at three previous board meetings, but had not ruled out the possibility of a rate hike either.

The bank’s decision to extend a pause in daily FX buying until the end of 2018 from the end of September will help curtail exchange rate volatility and its influence on inflation over the next few quarters, the central bank said.

Explaining its thinking, the central bank said “changes in external conditions observed since the previous meeting of the Board of Directors have significantly increased pro-inflationary risks.”

Annual inflation is rising more than expected, the central bank said, adding that it expected it to peak in the first half of 2019 and reach 5.0-5.5 percent by the end of 2019.

“The Bank of Russia will consider the necessity of further increases in the key rate, taking into account inflation and economic dynamics against the forecast, as well as risks posed by external conditions and the reaction of financial markets,” it said.

The next two rate-setting meetings this year are scheduled for Oct. 26 and Dec. 14.


Company: cnbc, Activity: cnbc, Date: 2018-09-14  Authors: andrey rudakov, bloomberg, getty images, sam clune, john gress, tom williams, cq-roll call group
Keywords: news, cnbc, companies, rate, raised, buying, fx, central, inflation, bank, end, extends, rouble, expected, russia, 750, raises, key, help, pause


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Dollar extends two-week winning streak on trade fears; euro falters

The dollar rose on Monday, building on two consecutive weeks of gains, as investors bet that trade war rhetoric and a strong U.S. economy would continue to drive the currency higher. Against a broad basket of currencies, the dollar rose 0.32 percent to 95.45 and is within striking distance of more-than-one-year peak of 95.652 reached on July 19. The dollar’s gains has been more pronounced against emerging-market currencies as investors bet that an escalation in trade war concerns would hit these


The dollar rose on Monday, building on two consecutive weeks of gains, as investors bet that trade war rhetoric and a strong U.S. economy would continue to drive the currency higher. Against a broad basket of currencies, the dollar rose 0.32 percent to 95.45 and is within striking distance of more-than-one-year peak of 95.652 reached on July 19. The dollar’s gains has been more pronounced against emerging-market currencies as investors bet that an escalation in trade war concerns would hit these
Dollar extends two-week winning streak on trade fears; euro falters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-06  Authors: tyrone siu
Keywords: news, cnbc, companies, nearly, fears, investors, senior, extends, falters, euro, twoweek, emergingmarket, trade, winning, war, streak, rose, currencies, turkish, dollar


Dollar extends two-week winning streak on trade fears; euro falters

The dollar rose on Monday, building on two consecutive weeks of gains, as investors bet that trade war rhetoric and a strong U.S. economy would continue to drive the currency higher.

Against a broad basket of currencies, the dollar rose 0.32 percent to 95.45 and is within striking distance of more-than-one-year peak of 95.652 reached on July 19.

“The U.S. economy is doing well and the Fed is moving towards a more predictable path of interest rates than earlier which has prompted us to change our underweight positions on U.S. debt to neutral in some portfolios,” said Paul Eitelman, a senior investment specialist at Russell Investments.

The dollar’s gains has been more pronounced against emerging-market currencies as investors bet that an escalation in trade war concerns would hit these export-oriented economies harder.

Since mid-April, the dollar index has gained 6 percent while an emerging-market local currency bond exchange traded fund has fallen more than 10 percent over the same period.

The dollar gained against emerging-market currencies, including the Turkish lira, which weakened 0.6 percent to a record low of 5.12 to the dollar.

The United States announced late on Friday it was reviewing Turkey’s duty-free access to U.S. markets a move that could affect nearly $1.7 billion of Turkish imports.

Chinese stocks slumped nearly 2 percent as Beijing proposed tariffs on $60 billion worth of U.S. goods on Friday, while a senior Chinese diplomat cast doubt on prospects of talks with Washington to resolve the conflict.


Company: cnbc, Activity: cnbc, Date: 2018-08-06  Authors: tyrone siu
Keywords: news, cnbc, companies, nearly, fears, investors, senior, extends, falters, euro, twoweek, emergingmarket, trade, winning, war, streak, rose, currencies, turkish, dollar


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Oil extends decline after biggest monthly slump in two years

Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July. October Brent crude futures dropped 29 cents, or 0.4 percent, to $73.92 a barrel by 0044 GMT, adding to a 1.8 percent loss in the previous session. U.S. crude futures were down 44 cents, or 0.6 percent, at $68.32 a barrel, having dropped nearly 2 percent on Tuesday. Brent fell more than 6 percent i


Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July. October Brent crude futures dropped 29 cents, or 0.4 percent, to $73.92 a barrel by 0044 GMT, adding to a 1.8 percent loss in the previous session. U.S. crude futures were down 44 cents, or 0.6 percent, at $68.32 a barrel, having dropped nearly 2 percent on Tuesday. Brent fell more than 6 percent i
Oil extends decline after biggest monthly slump in two years Cached Page below :
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Oil extends decline after biggest monthly slump in two years

Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July.

October Brent crude futures dropped 29 cents, or 0.4 percent, to $73.92 a barrel by 0044 GMT, adding to a 1.8 percent loss in the previous session.

U.S. crude futures were down 44 cents, or 0.6 percent, at $68.32 a barrel, having dropped nearly 2 percent on Tuesday.

Brent fell more than 6 percent in July, while U.S. crude futures slumped about 7 percent, the biggest monthly decline for both benchmarks since July 2016.

Data from the American Petroleum Institute showed domestic crude inventories rose by 5.6 million barrels last week. A Reuters poll had forecast a fall of 2.8 million barrels.

Official data from the U.S. Energy Information Administration is due later on Wednesday.

Signs that a supply disruption in the Bab al-Mandeb Strait in the Red Sea could be resolved also weighed on prices.

Yemen’s Houthi group said it was ready to unilaterally halt attacks in the Red Sea to support peace efforts. Saudi Arabia suspended oil shipments through the strait last week after the Houthis attacked two Saudi oil tankers.

A Reuters poll showed that oil prices are likely to hold fairly steady this year and next as increased output from OPEC and the United States meets growing demand led by Asia and helps to offset supply disruptions.

OPEC has pledged to offset the loss of supply from Iran, the group’s third-biggest producer.

Looming U.S. sanctions have already started to cut Iranian exports, with buyers from its biggest customers in Asia cutting imports to a seven-month low in June.


Company: cnbc, Activity: cnbc, Date: 2018-08-01  Authors: getty images
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Nikkei drops 1.1% as dollar extends losses; rest of Asia trades lower

That, coupled with U.S. interest rate hikes, was making the U.S. lose its competitive edge as the dollar strengthened, Trump claimed. Trump said in a separate tweet in reference to the Fed that “[t]ightening now hurts all that we have done.” That came after the president told CNBC in an interview that he was “not thrilled” about the central bank hiking interest rates. The dollar index, which tracks the greenback against a basket of currencies, stood at 94.277 after stumbling in the last session.


That, coupled with U.S. interest rate hikes, was making the U.S. lose its competitive edge as the dollar strengthened, Trump claimed. Trump said in a separate tweet in reference to the Fed that “[t]ightening now hurts all that we have done.” That came after the president told CNBC in an interview that he was “not thrilled” about the central bank hiking interest rates. The dollar index, which tracks the greenback against a basket of currencies, stood at 94.277 after stumbling in the last session.
Nikkei drops 1.1% as dollar extends losses; rest of Asia trades lower Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-23  Authors: cheang ming
Keywords: news, cnbc, companies, losses, 11, told, president, lower, drops, trump, war, asia, nikkei, rest, interest, extends, interview, trades, dollar, tariffs, trade


Nikkei drops 1.1% as dollar extends losses; rest of Asia trades lower

The dollar extended its losses after Trump doubled down on his criticism of global monetary policy and the Federal Reserve, tweeting that “China, the European Union and others have been manipulating their currencies and interest rates lower.” That, coupled with U.S. interest rate hikes, was making the U.S. lose its competitive edge as the dollar strengthened, Trump claimed.

Trump said in a separate tweet in reference to the Fed that “[t]ightening now hurts all that we have done.” That came after the president told CNBC in an interview that he was “not thrilled” about the central bank hiking interest rates.

The dollar remained broadly weaker on the back of those comments after Friday’s slide. The dollar index, which tracks the greenback against a basket of currencies, stood at 94.277 after stumbling in the last session.

“We understand the political economy of the dollar is one that the administration wants a weaker dollar, whether it’s implicitly through their policy actions, their protectionist policies focusing on the current account deficit, or explicit, as we’ve heard from the president multiple times now,” Viraj Patel, FX strategist at ING, told CNBC’s “Squawk Box.”

An important focus for markets remains the U.S.-China trade war: Trump told CNBC in a recent interview that he was prepared to impose tariffs on all Chinese imports to the U.S. if he had to. “I’m ready to go to 500,” the president told CNBC’s Joe Kernen in an interview, referring to the $505.5 billion in goods from China the U.S. imported in 2017.

The U.S. and China have already exchanged new tariffs — each hitting $34 billion worth of goods from the other. The Trump administration has also announced a list of proposed duties on $200 billion in Chinese imports, although those tariffs are not yet in effect.

“The hope is that this bluster is a negotiation tactic that will be watered down during negotiations but increasingly it looks difficult to duck trade blowback,” Vishnu Varathan, head of economics and strategy at Mizuho Bank, wrote in a note.

Push back from France at the weekend’s G-20 meeting, meanwhile, makes it “abundantly clear that trade war risks are not likely to dissipate like water off a duck’s back; but instead it could be a slow burn and mounting risk with markets likely to have outbursts of risk off,” Varathan added.

Despite Trump’s recent remarks, stocks stateside finished the Friday session only marginally lower as strong corporate results releases balanced investors’ fear of the trade war and its implications for global economic growth. About 16.4 percent of S&P 500 companies had released their quarterly results as of Friday, with 83 percent of them topping expectations, according to FactSet.

The Dow Jones Industrial Average slipped 0.03 percent, or 6.38 points, to close at 25,058.12, the S&P 500 shed 0.09 percent to end at 2,801.83 and the Nasdaq Composite inched lower by 0.07 percent to 7,820.20.


Company: cnbc, Activity: cnbc, Date: 2018-07-23  Authors: cheang ming
Keywords: news, cnbc, companies, losses, 11, told, president, lower, drops, trump, war, asia, nikkei, rest, interest, extends, interview, trades, dollar, tariffs, trade


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Gold prices subdued as dollar extends rally

Gold prices were muted early Friday as the dollar extended gains from the previous session when strong U.S. inflation data and trade war concerns boosted demand for the greenback. Spot gold was down about 0.1 percent at $1,246.11 an ounce at 0050 GMT. Asian shares rose on Friday following gains on Wall Street overnight, as concerns over an escalating U.S. trade war with China took a breather. The United States and China could reopen talks on trade but only if Beijing is willing to make significa


Gold prices were muted early Friday as the dollar extended gains from the previous session when strong U.S. inflation data and trade war concerns boosted demand for the greenback. Spot gold was down about 0.1 percent at $1,246.11 an ounce at 0050 GMT. Asian shares rose on Friday following gains on Wall Street overnight, as concerns over an escalating U.S. trade war with China took a breather. The United States and China could reopen talks on trade but only if Beijing is willing to make significa
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Gold prices subdued as dollar extends rally

Gold prices were muted early Friday as the dollar extended gains from the previous session when strong U.S. inflation data and trade war concerns boosted demand for the greenback.

Spot gold was down about 0.1 percent at $1,246.11 an ounce at 0050 GMT.

U.S. gold futures for August delivery were little changed at $1,246.30 an ounce.

The U.S. dollar hit a six-month high against the Japanese yen on Friday. Against a basket of six major currencies, the dollar was up 0.1 percent at 94.899.

U.S. consumer prices recorded their largest increase in nearly 6-1/2 years in the year through June, while the monthly pace continued to suggest a steady buildup of inflation that could keep the Federal Reserve on a path of gradual interest rate increases.

Fed Chairman Jerome Powell said he believes the U.S. economy remains in a “good place,” with recent government tax and spending programs likely to boost gross domestic product for perhaps three years.

Asian shares rose on Friday following gains on Wall Street overnight, as concerns over an escalating U.S. trade war with China took a breather.

The United States and China could reopen talks on trade but only if Beijing is willing to make significant changes, U.S. Treasury Secretary Steven Mnuchin said on Thursday.

Kim Jong Un told President Donald Trump he believed their efforts could open up a “new future” between North Korea and the United States and expressed hope for “practical actions” in the future, according to a letter from the North Korean leader released on Thursday.

The European Central Bank will keep rates at a record low for as long as needed to raise inflation, and its interest rate guidance should be seen as “open-ended”, policymakers concluded in June, according to minutes of their meeting published on Thursday.

The European Commission on Thursday cut its forecasts for the euro zone’s economic growth this year, citing among the top causes for its revision trade tensions with the United States and rising oil prices which push the bloc’s inflation higher.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.48 percent to 795.19 tonnes on Thursday.


Company: cnbc, Activity: cnbc, Date: 2018-07-13
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Asian shares stumble as China extends declines amid trade tensions

Elsewhere, Japan’s Nikkei 225 turned lower, slipping 0.26 percent after earlier retracing some of the sharp declines seen in the overnight session. Meanwhile, MSCI’s index of stocks in Asia Pacific outside of Japan sank 0.96 percent in Asia morning trade. The U.S. is also engaged in disputes on trade issues with other key trading partners, including Canada and the European Union. Those jitters also overshadowed the moderate gains made on Wall Street overnight, with U.S. stocks closing in positiv


Elsewhere, Japan’s Nikkei 225 turned lower, slipping 0.26 percent after earlier retracing some of the sharp declines seen in the overnight session. Meanwhile, MSCI’s index of stocks in Asia Pacific outside of Japan sank 0.96 percent in Asia morning trade. The U.S. is also engaged in disputes on trade issues with other key trading partners, including Canada and the European Union. Those jitters also overshadowed the moderate gains made on Wall Street overnight, with U.S. stocks closing in positiv
Asian shares stumble as China extends declines amid trade tensions Cached Page below :
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Asian shares stumble as China extends declines amid trade tensions

Elsewhere, Japan’s Nikkei 225 turned lower, slipping 0.26 percent after earlier retracing some of the sharp declines seen in the overnight session. Insurers and oil producers clung to gains, while automakers, banks and precision machinery stocks declined.

In South Korea, the Kospi edged up by 0.15 percent, but was off its intraday high. Manufacturers gained, while the technology space was a mixed picture. Samsung Electronics and steelmaker Posco were up 1.54 percent and 0.48 percent, respectively. The S&P/ASX 200 saw more convincing increases, with the index tacking on 0.45 percent amid broad-based gains.

Meanwhile, MSCI’s index of stocks in Asia Pacific outside of Japan sank 0.96 percent in Asia morning trade.

Investors were cautious as markets continued to watch developments on the trade front. A looming July 6 deadline is set to see the U.S. impose a 25 percent tariff on $34 billion worth of Chinese goods from more than 800 product categories. China has also announced that it will retaliate with duties on the same value of U.S. products.

The U.S. is also engaged in disputes on trade issues with other key trading partners, including Canada and the European Union. The U.S. could face tariffs from the European Union on as much as $300 billion in U.S. goods if the Trump administration proceeds with imposing duties on European cars, the Financial Times reported.

Markets in Europe and Asia closed lower in the previous session amid the concerns over trade, with the pan-European Stoxx 600 declining 0.84 percent. Asian stock indexes saw steeper losses as China markets resumed their slide after getting some reprieve at the end of last week, with the Shanghai composite dropping 2.52 percent on Monday.

Amid the market moves ahead of that July 6 deadline for tariffs, U.S. Commerce Secretary Wilbur Ross told CNBC there was no “bright line level of the stock market” that would change U.S. President Donald Trump’s mind on trade policy.

Those jitters also overshadowed the moderate gains made on Wall Street overnight, with U.S. stocks closing in positive territory after dipping early in the overnight session on trade concerns. The Dow Jones Industrial Average rose 0.15 percent, or 35.77 points, to close at 24,307.18.

Investor jitters over trade concerns, meanwhile, supported the greenback. The dollar index, which tracks the dollar against a basket of currencies, traded at 94.957 at 9:47 a.m. HK/SIN after rising above the 95 handle in the overnight session. Against the yen, the dollar traded at 110.78.

Ahead, the Reserve Bank of Australia is set to announce its interest rate decision at 12:30 p.m. HK/SIN. Most economists surveyed in a Reuters poll expect the central banks to hold rates until September 2018.


Company: cnbc, Activity: cnbc, Date: 2018-07-03  Authors: cheang ming
Keywords: news, cnbc, companies, index, asia, session, tensions, amid, declines, concerns, shares, asian, china, overnight, european, dollar, union, trade, stocks, stumble, extends


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European stocks lower amid global trade fears; oil extends gains

The pan-European Stoxx 600 slipped around 0.3 percent during early morning deals, with most sectors and major bourses in negative territory. Europe’s autos stocks were among the worst performers Wednesday morning, down almost 1 percent shortly after the opening bell amid fears of an escalating global trade war. Meanwhile, oil and gas stocks led the gains Wednesday morning, up around 1 percent after the U.S. demanded all countries stop imports of Iranian oil from November on Tuesday. However, gai


The pan-European Stoxx 600 slipped around 0.3 percent during early morning deals, with most sectors and major bourses in negative territory. Europe’s autos stocks were among the worst performers Wednesday morning, down almost 1 percent shortly after the opening bell amid fears of an escalating global trade war. Meanwhile, oil and gas stocks led the gains Wednesday morning, up around 1 percent after the U.S. demanded all countries stop imports of Iranian oil from November on Tuesday. However, gai
European stocks lower amid global trade fears; oil extends gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: sam meredith
Keywords: news, cnbc, companies, shares, lower, extends, stock, gains, imports, morning, oil, global, amid, european, firm, stocks, trade, fears


European stocks lower amid global trade fears; oil extends gains

The pan-European Stoxx 600 slipped around 0.3 percent during early morning deals, with most sectors and major bourses in negative territory.

Europe’s autos stocks were among the worst performers Wednesday morning, down almost 1 percent shortly after the opening bell amid fears of an escalating global trade war. At the end of last week, President Donald Trump threatened to impose a 20 percent tariff on all U.S. imports of European Union-assembled cars. Shares of Rheinmetall and Schaeffler were down over 1.5 percent Wednesday morning.

Meanwhile, oil and gas stocks led the gains Wednesday morning, up around 1 percent after the U.S. demanded all countries stop imports of Iranian oil from November on Tuesday. The move exacerbated concerns about a shortage of crude at a time when Venezuela’s production is in free fall and the market is grappling with short-term disruptions from Canada and Libya.

However, gains in energy stocks were largely overshadowed by the fragile mood regarding global trade. The prospect of a settlement to Sino-U.S. tensions continued to look remote Wednesday.

Looking at individual stocks, Imerys soared to the top of the European benchmark after Exane BNP Paribas upgraded its stock recommendation to “outperform.” Shares of the French construction materials firm rose almost 6 percent higher on the news.

Meanwhile, Rubis slumped toward the bottom of the index after Berenberg cut its price target for the stock to 62 euros from 67 euros. Shares of the Paris-listed firm fell over 3 percent during early morning deals.


Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: sam meredith
Keywords: news, cnbc, companies, shares, lower, extends, stock, gains, imports, morning, oil, global, amid, european, firm, stocks, trade, fears


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