Dollar firmer as Fed maintains hawkish guidance, yen near five-week low

The yen, as a result, remains near a five-week low against the dollar. While the Fed is on track to raise interest rates, the BOJ is expected to keep its ultra loose monetary policy due to low growth and inflation. The widening interest rate differential between U.S. and Japanese bonds has made the dollar a more attractive bet than the yen, which is often a funding currency for carry trades. The Australian dollar gained 0.1 percent to trade at $0.7262. The Aussie dollar has rallied more than 3.3


The yen, as a result, remains near a five-week low against the dollar. While the Fed is on track to raise interest rates, the BOJ is expected to keep its ultra loose monetary policy due to low growth and inflation. The widening interest rate differential between U.S. and Japanese bonds has made the dollar a more attractive bet than the yen, which is often a funding currency for carry trades. The Australian dollar gained 0.1 percent to trade at $0.7262. The Aussie dollar has rallied more than 3.3
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Dollar firmer as Fed maintains hawkish guidance, yen near five-week low

The dollar gained against its major peers on Friday as the U.S. Federal Reserve kept interest rates steady but reaffirmed its monetary tightening stance, setting the stage for a rate hike in December.

Broader risk appetite took a step back in global trade, following this week’s strong Wall Street relief rally after the U.S. midterm elections produced no major political surprises for investors.

In foreign exchange markets, investor focus is now shifting back to the divergence between the monetary policies of the United States and other major economies, such a Japan where interest rates are seen staying extremely low. The yen, as a result, remains near a five-week low against the dollar.

The dollar index, a gauge of its performance against six major peers traded at 96.63 on Friday, after clocking a gain of 0.66 percent on Thursday.

“The Fed looks set to raise (rates) in December. They have been largely unfazed by the equity market correction in October,” said Ray Attrill, head of currency strategy at NAB.

Attrill added that the dollar strength also follows a weak euro and a jittery sterling over the last few trading sessions.

The Fed has raised its key policy rate three times this year, and the market expects another rate hike in December on the back of a robust U.S. economy, rising inflation and solid jobs growth.

According to the CME group’s FedWatch tool, the likelihood of the Fed raising rates by another 25 basis points in December is 75 percent.

The dollar has gained 2.4 percent versus the yen over the last 10 trading sessions due to the diverging monetary policies of the Fed and the Bank of Japan.

While the Fed is on track to raise interest rates, the BOJ is expected to keep its ultra loose monetary policy due to low growth and inflation.

The widening interest rate differential between U.S. and Japanese bonds has made the dollar a more attractive bet than the yen, which is often a funding currency for carry trades.

Meanwhile, the euro traded at $1.1366 on Friday, relatively unchanged in early Asian trade. The single currency fell 0.54 percent on Thursday as traders reacted to negative news out of Europe.

The European Commission forecast on Thursday that the Italian economy would grow more slowly in the next two years than Rome thinks, making government budget deficits much higher than assumed by Italy.

The standoff between the EU and Rome over Italy’s budget deficit and concerns over Europe’s slowing economic growth have dragged the euro which has fallen 4.2 percent versus the dollar over the last six months.

The British pound changed hands at $1.3062 on Friday, trading marginally higher versus the dollar. The sterling has gained 2.3 percent against the dollar in November.

The pound has benefited from growing investors expectations that Britain is close to reaching a deal with the European Union less than five months before it is due to exit the bloc.

The Australian dollar gained 0.1 percent to trade at $0.7262. The Aussie dollar has rallied more than 3.3 percent since it hit a more than a two-year low of $70.18 on Oct. 26.


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Gold inches lower on firmer dollar; investors await Fed rate call

Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures. Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce. Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50


Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures. Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce. Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50
Gold inches lower on firmer dollar; investors await Fed rate call Cached Page below :
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Gold inches lower on firmer dollar; investors await Fed rate call

Gold prices inched lower on Thursday on the back of a stronger dollar as investors digested the U.S. midterm election results and turned their focus to the Federal Reserve’s monetary policy decision due later in the day.

The Fed is not expected to raise interest rates until its next gathering in December, however market participants are waiting to see whether it offers clues about possible rate increases in December and in 2019.

Higher U.S. interest rates tend to boost the dollar and also push up bond yields, reducing the appeal of non-yielding bullion.

“Gold has found support around $1,223. If we see good news from the Fed, we may see a bounce. But for now, we think the Fed will continue with the monetary policy tightening,” said Benjamin Lu, a commodities analyst with Phillip Futures.

Spot gold was down 0.2 percent at $1,223.70 per ounce, as of 0410 GMT, while U.S. gold futures fell 0.3 percent to $1,224.7 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, traded in a narrow range and was last up 0.2 percent, having touched a more than two-week low in the previous session.

“I suspect gold will ping pong along with the U.S. dollar as traders begin to re-evaluate the current state of the USD,” Stephen Innes, APAC trading head at OANDA in Singapore, said in a note.

Meanwhile, Asian stocks rose to a one-month peak following a post-election rally on Wall Street.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.19 percent to 755.23 tonnes on Wednesday, marking the fourth straight session on declines.

Spot gold still targets $1,211, said Reuters technical analyst Wang Tao.

In other precious metals, silver was down 0.2 percent at $14.54 per ounce.

Palladium fell 0.3 percent to $1,130.60 per ounce, after touching a two-week high of $1,139.50 an ounce in the previous session.

Platinum was 0.7 percent lower at $866.85 an ounce, after hitting its highest since June 25 at $877.50 an ounce on Wednesday.


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Dollar firmer as China jitters drive safe haven trades

The dollar firmed against its rivals on Tuesday, supported by a safe haven bid as rising trade tensions and fears of a slowdown in global economic growth weighed on investors’ appetite for risk assets. “The U.S. dollar is benefiting from its safe haven status due to the steep fall in equity prices as trade war fears escalate,” said Ray Attrill, head of currency strategy at NAB. The Japanese yen traded flat in Asian trade on Tuesday, having weakened versus the dollar on Monday. “The yen doesn’t s


The dollar firmed against its rivals on Tuesday, supported by a safe haven bid as rising trade tensions and fears of a slowdown in global economic growth weighed on investors’ appetite for risk assets. “The U.S. dollar is benefiting from its safe haven status due to the steep fall in equity prices as trade war fears escalate,” said Ray Attrill, head of currency strategy at NAB. The Japanese yen traded flat in Asian trade on Tuesday, having weakened versus the dollar on Monday. “The yen doesn’t s
Dollar firmer as China jitters drive safe haven trades Cached Page below :
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Dollar firmer as China jitters drive safe haven trades

The dollar firmed against its rivals on Tuesday, supported by a safe haven bid as rising trade tensions and fears of a slowdown in global economic growth weighed on investors’ appetite for risk assets.

The Japanese yen, also seen as a refuge during times of heightened investor concerns, traded in a narrow range ahead of the Bank of Japan’s monetary policy announcement due on Wednesday.

Investors shunned riskier assets and moved to buy the greenback after Bloomberg reported that Washington is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between U.S. President Donald Trump and Chinese President Xi Jinping fail to ease the trade war.

Trump and his Chinese counterpart are due to meet on the sidelines of the Group of 20 leaders summit in Argentina at the end of November.

The dollar index, a gauge of the currency’s strength against six major peers, traded at 96.66, up 0.1 percent on Tuesday. It hit a 2018 high of 96.98 on Aug. 15.

“The U.S. dollar is benefiting from its safe haven status due to the steep fall in equity prices as trade war fears escalate,” said Ray Attrill, head of currency strategy at NAB.

U.S. equities turned sharply lower on Monday, reversing a positive start and led by declines in technology stocks. Investors are concerned that corporate earnings may peak this quarter as borrowing costs rise with the U.S. Federal Reserve expected to raise interest rates by 25 basis points in December, followed by another two possible hikes in 2019.

The Japanese yen traded flat in Asian trade on Tuesday, having weakened versus the dollar on Monday.

“The yen doesn’t seem to be getting its normal safe haven status,” said Attrill. “The reason could be that Japanese investors have been net buyers of foreign equities in October which has kept the dollar/yen from trending lower.”

Yen traders will also be focusing on the central bank’s monetary policy meeting due Wednesday.

Political uncertainty continues to keep a lid on the euro. The single currency traded relatively unchanged versus the dollar at $1.1374 on Tuesday, having hit a 10-week low of $1.1332 on Monday on news that German Chancellor Angela Merkel would not seek re-election as head of her Christian Democrats (CDU) party.

The euro has also been weighed by the ongoing standoff between Brussels and Rome over Italy’s free spending budget that would breach the European Union’s fiscal rules.

“The main risk to the euro is if the coalition in Germany collapses before 2019. That coupled with negative news flow out of Italy could lead to the perfect storm,” said Attrill.


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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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Asian stocks poised to gain after Fed’s Powell gives upbeat comments; dollar firmer

The Fed’s Powell gave a positive assessment of the U.S. economy during his semiannual congressional testimony on Tuesday, indicating that gradual interest rate increases were warranted. “So the key take away is that trade policy has not yet affected the Fed’s intentions for further gradual hikes. Of note, shares of Amazon touched an all-time high on a report that reflected robust Prime Day sales. The dollar firmed following Powell’s comments, with the dollar index, which tracks the greenback aga


The Fed’s Powell gave a positive assessment of the U.S. economy during his semiannual congressional testimony on Tuesday, indicating that gradual interest rate increases were warranted. “So the key take away is that trade policy has not yet affected the Fed’s intentions for further gradual hikes. Of note, shares of Amazon touched an all-time high on a report that reflected robust Prime Day sales. The dollar firmed following Powell’s comments, with the dollar index, which tracks the greenback aga
Asian stocks poised to gain after Fed’s Powell gives upbeat comments; dollar firmer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: cheang ming
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Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer

The Fed’s Powell gave a positive assessment of the U.S. economy during his semiannual congressional testimony on Tuesday, indicating that gradual interest rate increases were warranted.

Powell also touched on the matter of trade disputes between the U.S. and its trading partners, saying it was “difficult to predict” the implications of those on the economy.

“So the key take away is that trade policy has not yet affected the Fed’s intentions for further gradual hikes. The Fed remains data dependent and the inclusion of the phrase ‘for now’ provides the bank with some flexibility if it needs to alter the interest rate path ahead,” Rodrigo Catril, senior FX strategist at National Australia Bank, wrote in a note.

U.S. stocks rose as earnings season rolled on stateside.

The tech-heavy Nasdaq composite notched a record high on Tuesday before closing up 0.63 percent to 7,855.12 and outperforming other U.S. indexes overnight. The Dow Jones Industrial Average rose 0.22 percent, or 55.53 points, to close at 25,119.89, the S&P 500 advanced 0.4 percent to 2,809.55.

In the tech sector, Netflix shares closed down by more than 5 percent after missing subscriber growth projections, after dropping by around 14 percent during the New York session. Of note, shares of Amazon touched an all-time high on a report that reflected robust Prime Day sales.

The dollar firmed following Powell’s comments, with the dollar index, which tracks the greenback against a basket of currencies, strengthening to last stand at 94.945 after two sessions of declines. Against the yen, the dollar traded at 112.94 at 7:01 a.m. HK/SIN.

Meanwhile, oil prices were steady for the most part after dropping more than 4 percent earlier this week. U.S. crude futures inched higher by 2 cents at $68.08 per barrel and Brent crude futures added 32 cents to $72.16.


Company: cnbc, Activity: cnbc, Date: 2018-07-18  Authors: cheang ming
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Asian stocks slip, shrugging off firmer Wall Street lead as investors digest China data

South Korean stocks traded slightly lower, with the Kospi slipping 0.15 percent. A similar picture was seen in Asia last week, with markets finishing the week higher. “If you look at particularly the Hong Kong, China market, most of the indicators that I look at are at oversold extreme. Shares of ZTE listed in Hong Kong were up 9.9 percent while Shenzhen shares rose by the daily limit of 10 percent. That would mean that shares of Xiaomi will not be accessible to investors on the mainland under t


South Korean stocks traded slightly lower, with the Kospi slipping 0.15 percent. A similar picture was seen in Asia last week, with markets finishing the week higher. “If you look at particularly the Hong Kong, China market, most of the indicators that I look at are at oversold extreme. Shares of ZTE listed in Hong Kong were up 9.9 percent while Shenzhen shares rose by the daily limit of 10 percent. That would mean that shares of Xiaomi will not be accessible to investors on the mainland under t
Asian stocks slip, shrugging off firmer Wall Street lead as investors digest China data Cached Page below :
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Asian stocks slip, shrugging off firmer Wall Street lead as investors digest China data

South Korean stocks traded slightly lower, with the Kospi slipping 0.15 percent. Bank stocks declined, weighing on the broader index, but major technology names were mixed, with Samsung Electronics edging down by 0.65 percent but SK Hynix pulling back by 0.68 percent. In Australia, the S&P/ASX 200 lost 0.34 percent, with health care leading losses.

Meanwhile, markets in Japan are closed for a holiday on Monday.

MSCI’s index of shares in Asia Pacific excluding Japan slipped 0.34 percent in Asia morning trade.

The moves lower came on the back of gains on Wall Street in the previous session. The S&P 500 added 0.11 percent to end at 2,801.31, closing the session above the 2,800 level for the first time since Feb. 1. Other U.S. indexes also finished the day in positive territory.

Despite the broader increase stateside, bank stocks dipped as markets digested the release of second-quarter earnings. Just over 5 percent of S&P 500 companies have reported second-quarter results so far. Analysts polled by FactSet expect second-quarter earnings to have grown by 20 percent.

Still, the overall gains came amid relief among investors over the lack of fresh, negative trade war headlines, according to analysts, with major U.S. indexes posting strong gains for the week. A similar picture was seen in Asia last week, with markets finishing the week higher.

That had come after stocks initially slid following the Trump administration releasing a list of $200 billion in Chinese goods that could be subject to new tariffs, firing the latest shot in the trade dispute between the U.S. and China. The announced duties will only take effect following a review process and come on the heels of U.S. tariffs on $34 billion in Chinese products taking effect earlier in the month.

Despite Monday’s slight declines and lingering anxiety on the trade front, some expect regional markets to head higher in the next quarter.

“If you look at particularly the Hong Kong, China market, most of the indicators that I look at are at oversold extreme. They’re at a level where I would look for the Hong Kong market … to try and find a base,” Mark Jolley, global strategist at CCB International Securities, told CNBC’s “Squawk Box.”

Unless the trade situation deteriorates significantly, which is seen as unlikely in the short term, Asian markets could see a relief rally in the next one to two months, Jolley said.

In currencies, the dollar index, which tracks the U.S. dollar against a basket of currencies, traded at 94.732 at 10:03 a.m. HK/SIN. Against the yen, the dollar traded at 112.49.

Apart from that, investors also awaited Federal Reserve Chairman Jerome Powell’s semi-annual congressional testimonies on Tuesday and Wednesday during U.S. hours.

In individual movers, telecommunications equipment maker ZTE got a boost after the U.S. removed a ban on the company from purchasing technology from U.S. corporations. Shares of ZTE listed in Hong Kong were up 9.9 percent while Shenzhen shares rose by the daily limit of 10 percent.

Meanwhile, shares of Xiaomi fell 3.73 percent after media reports that Chinese stock exchanges said the connect scheme linking Hong Kong and the mainland would not extend to firms with weighted voting rights structure. That would mean that shares of Xiaomi will not be accessible to investors on the mainland under the connect program.

— CNBC’s Fred Imbert contributed to this report.


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Gold eases on firmer dollar; US-North Korea summit, Fed meeting in focus

Gold prices edged lower on Tuesday, weighed down by a stronger dollar amid encouraging signs ahead of an historic U.S.-North Korea summit and a likely interest rate hike by the U.S. Federal Reserve. Spot gold was down 0.2 percent at $1,297.68 per ounce at 0046 GMT. U.S. gold futures for August delivery were 0.1 percent lower at $1,301.60 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, edged 0.3 percent higher at 93.819. Three gold miners were k


Gold prices edged lower on Tuesday, weighed down by a stronger dollar amid encouraging signs ahead of an historic U.S.-North Korea summit and a likely interest rate hike by the U.S. Federal Reserve. Spot gold was down 0.2 percent at $1,297.68 per ounce at 0046 GMT. U.S. gold futures for August delivery were 0.1 percent lower at $1,301.60 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, edged 0.3 percent higher at 93.819. Three gold miners were k
Gold eases on firmer dollar; US-North Korea summit, Fed meeting in focus Cached Page below :
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Gold eases on firmer dollar; US-North Korea summit, Fed meeting in focus

Gold prices edged lower on Tuesday, weighed down by a stronger dollar amid encouraging signs ahead of an historic U.S.-North Korea summit and a likely interest rate hike by the U.S. Federal Reserve.

Spot gold was down 0.2 percent at $1,297.68 per ounce at 0046 GMT.

U.S. gold futures for August delivery were 0.1 percent lower at $1,301.60 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, edged 0.3 percent higher at 93.819.

U.S. President Donald Trump said his summit with North Korean leader Kim Jong Un in Singapore on Tuesday would show if a “real deal” could happen, as both sides sought to narrow differences over how to end a nuclear standoff on the Korean peninsula.

U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank of New York survey published on Monday.

The Federal Reserve, which meets this week, will likely raise its target interest rate to above the rate of inflation for the first time in a decade, igniting a new debate: when to stop.

Trump fired off a volley of tweets on Monday venting anger on NATO allies, the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G-7 meeting over the weekend.

Bank of Japan policymakers will debate this week whether structural factors may be behind recent disappointingly slow inflation, which could force them to cut the central bank’s price forecasts at a quarterly review in July.

Canada’s Goldcorp said on Monday an ongoing protest blocking entry to its Penasquito mine, one of Mexico’s biggest gold producers, could force the company to halt output.

Three gold miners were killed in South Africa on Monday at a Sibanye-Stillwater plant and the company said rescue teams are searching for two others.

Rioters in southern Mali ransacked local government buildings on Monday following a dispute between workers and management at Randgold’s Loulo and Gounkoto gold mines, the government said.


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Gold dips on firmer dollar, declining global tensions

Gold prices dipped on Thursday, weighed down by a firmer dollar and a decline in global geopolitical tensions, breaking a string of gains for four successive sessions. ET, while spot gold was down 0.20 percent at $1,346.16 per ounce. It’s more of a technical trade at the moment – it tries the upside again and if that doesn’t succeed then it falls back.” Also pressuring gold was a slightly firmer dollar index, making gold more expensive for buyers using other currencies. Meanwhile, spot silver pr


Gold prices dipped on Thursday, weighed down by a firmer dollar and a decline in global geopolitical tensions, breaking a string of gains for four successive sessions. ET, while spot gold was down 0.20 percent at $1,346.16 per ounce. It’s more of a technical trade at the moment – it tries the upside again and if that doesn’t succeed then it falls back.” Also pressuring gold was a slightly firmer dollar index, making gold more expensive for buyers using other currencies. Meanwhile, spot silver pr
Gold dips on firmer dollar, declining global tensions Cached Page below :
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Gold dips on firmer dollar, declining global tensions

Gold prices dipped on Thursday, weighed down by a firmer dollar and a decline in global geopolitical tensions, breaking a string of gains for four successive sessions.

U.S. gold futures fell 0.34 percent to $1,348.90 per ounce at 1:50 p.m. ET, while spot gold was down 0.20 percent at $1,346.16 per ounce.

“Uncertainty has decreased somewhat. Geopolitical worries, trade risk have moved to the background,” said commodity strategist Georgette Boele at ABN AMRO in Amsterdam.

U.S. President Donald Trump said on Wednesday he hoped a summit with North Korean leader Kim Jong Un would be successful while Western missile strikes in Syria were less extensive than some had feared.

Boele said she expected gold to decline to around $1,330 after failing to break above resistance. “There was a bit of upward momentum, but you are still in the $1,300 – $1,365 range. It’s more of a technical trade at the moment – it tries the upside again and if that doesn’t succeed then it falls back.”

“Gold is hardly reacting at all to market participants concerns about new sanctions against Russia and the associated uncertainties,” Commerzbank said in a note.

Spot gold faces resistance at $1,356 per ounce, a break above which could lead to a gain to $1,365.23, Reuters technical analyst Wang Tao said.

Also pressuring gold was a slightly firmer dollar index, making gold more expensive for buyers using other currencies.

Meanwhile, spot silver prices rose 0.52 percent to $17.24 per ounce after touching their highest since Feb. 1 at $17.345.

Platinum rose 0.11 percent to $936.50 per ounce. It touched more than a three-week high of $953.50 earlier in the day. Palladium fell 0.26 percent to $1,032.30 per ounce, after marking its highest since Feb. 27 at $1,057.20.


Company: cnbc, Activity: cnbc, Date: 2018-04-18  Authors: getty images
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Dollar firmer as yields climb on improved risk appetite

The dollar firmed against its peers on Friday, supported as an improvement in investor risk appetite lifted equities and pushed U.S. yields significantly higher. The dollar index against a basket of six major currencies was a shade higher at 89.758. “The dollar had not shown a strong correlation with U.S. yields recently. “Risk aversion in equities will need to keep receding for the dollar to remain supported. The Australian dollar was steady at $0.7757 and the New Zealand dollar was a shade hig


The dollar firmed against its peers on Friday, supported as an improvement in investor risk appetite lifted equities and pushed U.S. yields significantly higher. The dollar index against a basket of six major currencies was a shade higher at 89.758. “The dollar had not shown a strong correlation with U.S. yields recently. “Risk aversion in equities will need to keep receding for the dollar to remain supported. The Australian dollar was steady at $0.7757 and the New Zealand dollar was a shade hig
Dollar firmer as yields climb on improved risk appetite Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-12  Authors: getty images
Keywords: news, cnbc, companies, risk, climb, appetite, yields, supported, overnight, rose, shade, previous, yen, strong, improved, dollar, firmer


Dollar firmer as yields climb on improved risk appetite

The dollar firmed against its peers on Friday, supported as an improvement in investor risk appetite lifted equities and pushed U.S. yields significantly higher.

The dollar index against a basket of six major currencies was a shade higher at 89.758. It rose 0.2 percent the previous day, ending a four-day losing streak.

The index managed to bounce as Treasury yields spiked, with that of the 10-year surging 5 basis points overnight to its highest since late March.

Yields rose as Wall Street gained on Thursday in anticipation of strong corporate earnings, and as geopolitical worries eased on U.S. President Donald Trump’s suggestion that a military strike on Syria may not be imminent.

“The dollar had not shown a strong correlation with U.S. yields recently. But the correlation returned somewhat, with currencies taking notice of such a spike in yields,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

“Risk aversion in equities will need to keep receding for the dollar to remain supported. There is no change to the equation of ‘Trump risk’ dictating market direction.”

The dollar was down 0.1 percent at 107.245 yen after rising more than 0.5 percent overnight. The greenback has gained about 0.3 percent versus the yen this week.

The euro was little changed at $1.2392 after losing 0.3 percent the previous day, when it ended a four-day winning run.

The common currency has risen 0.4 percent this week, supported by comments from European Central bank officials that reinforced expectations towards monetary policy normalization.

The Australian dollar was steady at $0.7757 and the New Zealand dollar was a shade higher at $0.7379.


Company: cnbc, Activity: cnbc, Date: 2018-04-12  Authors: getty images
Keywords: news, cnbc, companies, risk, climb, appetite, yields, supported, overnight, rose, shade, previous, yen, strong, improved, dollar, firmer


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Gold prices edge lower on firmer dollar ahead of Fed meet

Gold prices inched lower early Monday as the dollar remained supported, with investors expecting the U.S. Federal Reserve to raise interest rates at this week’s policy meeting. Spot gold fell 0.2 percent to $1,310.31 per ounce at 0123 GMT. The two-day Federal Open Market Committee meeting begins on Tuesday at which the U.S. central bank is expected to raise interest rates for the first time this year. Gold speculators cut their net long position by 16,153 contracts to 145,659 contracts, accordin


Gold prices inched lower early Monday as the dollar remained supported, with investors expecting the U.S. Federal Reserve to raise interest rates at this week’s policy meeting. Spot gold fell 0.2 percent to $1,310.31 per ounce at 0123 GMT. The two-day Federal Open Market Committee meeting begins on Tuesday at which the U.S. central bank is expected to raise interest rates for the first time this year. Gold speculators cut their net long position by 16,153 contracts to 145,659 contracts, accordin
Gold prices edge lower on firmer dollar ahead of Fed meet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-18  Authors: getty images
Keywords: news, cnbc, companies, gold, fed, meet, ahead, firmer, dollar, zone, price, edge, raise, rates, largest, lower, president, week, prices, interest


Gold prices edge lower on firmer dollar ahead of Fed meet

Gold prices inched lower early Monday as the dollar remained supported, with investors expecting the U.S. Federal Reserve to raise interest rates at this week’s policy meeting.

Spot gold fell 0.2 percent to $1,310.31 per ounce at 0123 GMT. The price touched $1,309.31, the lowest since March 1, in the previous session.

U.S. gold futures for April delivery fell 0.1 percent to $1,310.4 per ounce.

The dollar index against a basket of currencies was up 0.1 percent at 90.295.

Asian share markets got off to a hesitant start on Monday for a week in which the Fed is likely to deliver a hike in U.S. interest rates and perhaps signal that as many as three more lie in store for the rest of the year.

The two-day Federal Open Market Committee meeting begins on Tuesday at which the U.S. central bank is expected to raise interest rates for the first time this year.

U.S. industrial production jumped 1.1 percent in February, the largest increase in four months, due to a weather-related rebound in construction and a rise in output from the nation’s oil and gas fields and mines.

Forty-five U.S. trade associations representing some of the largest companies in the country are urging President Donald Trump not to impose tariffs on China, warning it would be “particularly harmful” to the U.S. economy and consumers.

French President Emmanuel Macron and German Chancellor Angela Merkel on Friday pledged to overcome differences in order to formulate a roadmap for a reform of the euro zone which they will seek to get approved by their European peers in June.

Three European Central Bank policymakers struck an optimistic tone on the outlook for euro zone inflation on Sunday despite stubbornly slow price growth so far this year.

Gold speculators cut their net long position by 16,153 contracts to 145,659 contracts, according to the U.S. Commodity Futures Trading Commission (CFTC) data. [

Weaker demand in India prompted gold dealers to offer discounts for a second straight week, as a drop in local prices to 2-week lows and a festival failed to lure buyers.


Company: cnbc, Activity: cnbc, Date: 2018-03-18  Authors: getty images
Keywords: news, cnbc, companies, gold, fed, meet, ahead, firmer, dollar, zone, price, edge, raise, rates, largest, lower, president, week, prices, interest


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