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 :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dollar, rates, policy, fell, gold, inches, ounce, fed, await, rate, 02, twoweek, previous, investors, lower, firmer


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.


Company: cnbc, Activity: cnbc, Date: 2018-11-08
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Gold hits over two-week low; set to end six-month losing streak

Gold prices fell to a more than two-week low on Wednesday as Asian stocks gained and the dollar touched multi-month highs on upbeat U.S. economic data. The yellow metal, however, remained on track to end a six-month losing streak, the longest since a period that finished in early 1997. A stronger dollar and a recovery in equities are putting pressure on gold today, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. A stronger dollar makes dollar-denominated bullion more exp


Gold prices fell to a more than two-week low on Wednesday as Asian stocks gained and the dollar touched multi-month highs on upbeat U.S. economic data. The yellow metal, however, remained on track to end a six-month losing streak, the longest since a period that finished in early 1997. A stronger dollar and a recovery in equities are putting pressure on gold today, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. A stronger dollar makes dollar-denominated bullion more exp
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Gold hits over two-week low; set to end six-month losing streak

Gold prices fell to a more than two-week low on Wednesday as Asian stocks gained and the dollar touched multi-month highs on upbeat U.S. economic data.

The yellow metal, however, remained on track to end a six-month losing streak, the longest since a period that finished in early 1997.

Spot gold was 0.4 percent lower at $1,217.26 an ounce at 0419 GMT, having touched its lowest since Oct. 12 at $1,215.35 earlier in the session. It has risen about 2.4 percent so far in October, the biggest monthly gain since January.

U.S. gold futures fell 0.5 percent to $1,219.3 an ounce.

A stronger dollar and a recovery in equities are putting pressure on gold today, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong.

“The market would now be focusing on the upcoming U.S. non-farm payroll data due on Friday and the U.S. mid-term elections next week for a direction,” Leung added.

The midterm elections, on Nov. 6, will determine whether the Republican or Democratic party controls the U.S. Congress.

In the wider markets, Asian stocks pulled away from 20-month lows on Wednesday, thanks to a rebound on Wall Street, although investors remained cautious.

The dollar hovered near 16-month highs versus a basket of major rivals after gaining overnight as traders bet on the relative outperformance of the U.S. economy and continued rate increases by the Federal Reserve.

“If the dollar continues to march higher, especially against its emerging markets peers, this will put some pressure on gold,” said Hussein Sayed, Chief Market Strategist at FXTM.

“As long as inflation doesn’t become a real threat or equities plunge much further from current levels, many investors will prefer yielding instruments than investing in gold, and that’s what the dollar is providing.”

Gold prices have slipped about 11 percent from their April peak as investors turned to the dollar as a safe-haven as the trade war unfolded against a backdrop of higher U.S. interest rates.

A stronger dollar makes dollar-denominated bullion more expensive for users f other currencies while higher interest rates reduce the attraction of non-yielding gold.

Spot gold may break a support at $1,217 per ounce and fall to the next support at $1,208, as suggested by a retracement analysis, said Reuters technical analyst Wang Tao.

Among other precious metals silver was down 0.4 percent at $14.40 per ounce after touching more than two-week low of $14.31.

Platinum rose 0.1 percent to $833.10 per ounce, while palladium climbed 0.4 percent to $1,076.99 per ounce.


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Oil prices sink as US crude stockpiles rise by 6.5 million barrels

Oil prices extended losses on Wednesday after U.S. inventory data showed a much larger than expected rise in U.S. crude stockpiles. U.S. commercial crude stockpiles rose by 6.5 million barrels in the week to Oct. 12, the U.S. Energy Information Administration reported. A Reuters survey of eight analysts estimated crude stocks rose by about 2.2 million barrels last week. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said. Brent crude was down $1.77, or 2.2 p


Oil prices extended losses on Wednesday after U.S. inventory data showed a much larger than expected rise in U.S. crude stockpiles. U.S. commercial crude stockpiles rose by 6.5 million barrels in the week to Oct. 12, the U.S. Energy Information Administration reported. A Reuters survey of eight analysts estimated crude stocks rose by about 2.2 million barrels last week. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said. Brent crude was down $1.77, or 2.2 p
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Oil prices sink as US crude stockpiles rise by 6.5 million barrels

Oil prices extended losses on Wednesday after U.S. inventory data showed a much larger than expected rise in U.S. crude stockpiles.

U.S. commercial crude stockpiles rose by 6.5 million barrels in the week to Oct. 12, the U.S. Energy Information Administration reported. A Reuters survey of eight analysts estimated crude stocks rose by about 2.2 million barrels last week.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said.

Brent crude was down $1.77, or 2.2 percent, at $79.64 a barrel by 10:41 a.m. ET (1441 GMT), after gaining $1.15 in the previous three sessions. The global benchmark, which hit a two-week low last week as equity markets dropped, is trading around $6 below a four-year high of $86.74 reached on Oct. 3.


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Gold inches down as greenback firms against the yuan

Gold inched down on Tuesday from a two-week high hit in the previous session, as the dollar firmed against yuan, making the precious metal expensive for buyers in the world’s biggest consumer China. China’s central bank raised its daily guidance rate for the yuan by the most in nearly 15 months on Tuesday, sparking a demand for dollars. Spot gold fell 0.2 percent to $1,209.04 an ounce at 0358 GMT, after hitting its highest since Aug. 13 at $1,212.38 on Monday. U.S. gold futures were down 0.1 per


Gold inched down on Tuesday from a two-week high hit in the previous session, as the dollar firmed against yuan, making the precious metal expensive for buyers in the world’s biggest consumer China. China’s central bank raised its daily guidance rate for the yuan by the most in nearly 15 months on Tuesday, sparking a demand for dollars. Spot gold fell 0.2 percent to $1,209.04 an ounce at 0358 GMT, after hitting its highest since Aug. 13 at $1,212.38 on Monday. U.S. gold futures were down 0.1 per
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Gold inches down as greenback firms against the yuan

Gold inched down on Tuesday from a two-week high hit in the previous session, as the dollar firmed against yuan, making the precious metal expensive for buyers in the world’s biggest consumer China.

China’s central bank raised its daily guidance rate for the yuan by the most in nearly 15 months on Tuesday, sparking a demand for dollars.

Spot gold fell 0.2 percent to $1,209.04 an ounce at 0358 GMT, after hitting its highest since Aug. 13 at $1,212.38 on Monday.

U.S. gold futures were down 0.1 percent at $1,215.40 an ounce.

“The downtrend on the dollar has reversed, with markets probably concerned over the (currency) fixing in China. The market is still a little bit nervous overall when it comes to buying into the weaker U.S. dollar narrative,” said Stephen Innes, Asia-Pacific trading head at OANDA in Singapore.

The dollar index inched up 0.1 percent against a basket of six major currencies on Tuesday, after falling to a more than three-week low.

Gold has lost its appeal as a safe-haven asset, having fallen over 7 percent so far this year, amid international trade disputes and the Turkish currency crisis, with investors increasingly turning to the U.S. dollar instead.

The yellow metal, however, has recovered after touching 1-1/2-year lows on Aug. 16 at $1,159.60 as the dollar’s run slowed after President Donald Trump criticized the U.S. Federal Reserve for raising interest rates at a time when the government was trying to stimulate the economy.

“We need a complete flip around momentum in the U.S. dollar for gold to push above $1,230 and move to $1,260. Unless the Fed takes the December rate hike off the table, gold does not have a chance to get near any of those supportive levels,” Innes said.

Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.

Spot gold may rise to $1,224 an ounce, as it has broken a resistance at $1,209 per ounce, according to Reuters technical analyst Wang Tao.

Spot silver was down 0.3 percent at $14.81, after hitting its highest since Aug. 15 at $14.92 on Monday.

Platinum was up 0.4 percent at $802.74, after touching a two-week high at $807.60.

Palladium fell 0.1 percent to $947.75. At $950.25, prices matched 1-1/2-month highs hit on Monday.


Company: cnbc, Activity: cnbc, Date: 2018-08-28
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Dollar remains on defensive as US-China trade talks are in focus

The single currency then rebounded as the United States and China agreed to hold low-level trade talks, calming market nerves and reducing demand for the safe-haven dollar. The U.S.-China trade talks are expected to begin later on Wednesday in Washington. “Market expectations may have exceeded the likely outcome from the trade talks, especially equities, which have gained significantly,” Ishikawa at IG Securities said. In focus was how the euro would react to the U.S.-China trade talks. The poun


The single currency then rebounded as the United States and China agreed to hold low-level trade talks, calming market nerves and reducing demand for the safe-haven dollar. The U.S.-China trade talks are expected to begin later on Wednesday in Washington. “Market expectations may have exceeded the likely outcome from the trade talks, especially equities, which have gained significantly,” Ishikawa at IG Securities said. In focus was how the euro would react to the U.S.-China trade talks. The poun
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Dollar remains on defensive as US-China trade talks are in focus

The dollar remained on the defensive on Wednesday, as U.S. President Donald Trump’s comments on monetary policy continued to weigh on the greenback and as the markets awaited U.S.-China trade talks and Federal Reserve minutes for directional cues.

Noticeable gainers against the dollar included the euro, which rose roughly 0.8 percent overnight, brushing a 12-day peak of $1.1601. In Asian trade, it was up 0.05 percent at $1.1577 from its New York close.

The dollar index against a basket of six major currencies was down 0.1 percent at 95.186 after losing 0.7 percent the previous day. It fell to 95.070 on Tuesday, its lowest since Aug. 9.

Trump told Reuters in an interview on Monday that he was “not thrilled” at the Fed’s rate hikes, sparking the dollar’s latest downturn.

Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo, said the euro “was already regrouping from its recent rout and Trump’s comments gave extra incentive for short positions to be covered in the market.”

A week ago, the euro had stooped to a 13-1/2 month low of $1.1301, hit by concerns that Turkey’s financial turmoil -exemplified by the lira’s plunge to a record low – could hurt European banks.

The single currency then rebounded as the United States and China agreed to hold low-level trade talks, calming market nerves and reducing demand for the safe-haven dollar. A pullback by Turkey’s lira from all-time lows has also brought relief.

The U.S.-China trade talks are expected to begin later on Wednesday in Washington.

“Market expectations may have exceeded the likely outcome from the trade talks, especially equities, which have gained significantly,” Ishikawa at IG Securities said. “The talks could end with little fanfare as they will not be conducted at a high level.”

The benchmark S&P 500 touched a record high on Tuesday and equaled its longest-ever bull-market run, buoyed by strong earnings reports in the consumer sector and relative calm in the U.S.-China trade dispute.

In focus was how the euro would react to the U.S.-China trade talks.

“The euro has recovered above the $1.15 threshold, and it could serve as a gauge of global risk sentiment going forward,” said Makoto Noji, chief currency strategist at SMBC Nikko Securities.

The market was also awaiting minutes of the Fed’s July 31-Aug. 1 policy meeting, due at 1800 GMT. Investors will study them to see whether policymakers discussed issues such as trade policy and the shape of the U.S. yield curve, which has come close to inverting.

The pound was steady at $1.2903 and in close reach of the two-week high of $1.2924 scaled the previous day.

Sterling surged 0.8 percent on Tuesday after Britain’s chief Brexit negotiator, Dominic Raab, said the country is still confident it can reach an exit deal with the European Union in October.

The Australian dollar dipped 0.25 percent to $0.7350 after advancing 0.4 percent overnight on the back of the dollar’s broad weakness.

The dollar was effectively flat at 110.30 yen. It had weakened to 109.775 overnight, its lowest since late June.

The New Zealand dollar climbed to a two-week peak of $0.6772 after strong domestic second quarter retail sales data suggested the gross domestic product would overshoot the central bank’s forecast.

Onshore Chinese yuan was a touch stronger at 6.842 per dollar and headed for its fifth straight session of gains.


Company: cnbc, Activity: cnbc, Date: 2018-08-22
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Bitcoin spikes almost $400 in an hour to a two-week high

Bitcoin spiked in value on Wednesday to a two-week high. It was the first time bitcoin has been above the $6,800 level since August 7. The cryptocurrency softened slightly to $6,675.61 by 11:20 a.m. London time Wednesday, up 3 percent in the last 24 hours. Bitcoin is still down 66 percent from a record price near $20,000 it set in December last year. Some media outlets reported the shutdown could have been behind the price spike for bitcoin.


Bitcoin spiked in value on Wednesday to a two-week high. It was the first time bitcoin has been above the $6,800 level since August 7. The cryptocurrency softened slightly to $6,675.61 by 11:20 a.m. London time Wednesday, up 3 percent in the last 24 hours. Bitcoin is still down 66 percent from a record price near $20,000 it set in December last year. Some media outlets reported the shutdown could have been behind the price spike for bitcoin.
Bitcoin spikes almost $400 in an hour to a two-week high Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-08-22  Authors: ryan browne, ali ozcan, anadolu agency, getty images
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Bitcoin spikes almost $400 in an hour to a two-week high

Bitcoin spiked in value on Wednesday to a two-week high.

The world’s best-known cryptocurrency surged from $6466.50 at around midnight to $6,858.61 at around 1 a.m. London time, according to data from industry website CoinDesk.

It was the first time bitcoin has been above the $6,800 level since August 7. The reason for the sudden jump in the virtual currency’s value was not immediately clear. The cryptocurrency softened slightly to $6,675.61 by 11:20 a.m. London time Wednesday, up 3 percent in the last 24 hours.

Bitcoin is still down 66 percent from a record price near $20,000 it set in December last year.

Last week, bitcoin and its second and third-largest counterparts, ether and XRP, fell sharply. Analysts at the time said the rout was driven by an SEC (Securities and Exchange Commission) decision to postpone a decision on a proposed bitcoin ETF (exchange-traded fund).

Ether, the digital token of the Ethereum blockchain, was up 1.5 percent at a price of $286.20 at 11:20 a.m. London time, while XRP, which is associated with blockchain firm Ripple, was up 2 percent at a price of 34 cents, according to CoinDesk.

Separately on Wednesday, cryptocurrency trading platform BitMEX said it suffered a DDoS (distributed denial-of-service) attack, where hackers force a site offline. Earlier during the day, the firm said it was set to undergo “scheduled maintenance.” Some media outlets reported the shutdown could have been behind the price spike for bitcoin.


Company: cnbc, Activity: cnbc, Date: 2018-08-22  Authors: ryan browne, ali ozcan, anadolu agency, getty images
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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
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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 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
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Dollar treads water as trade fears cap bounce from 2-week low

The dollar held steady against a basket of currencies on Wednesday, its earlier bounce from two-week lows flagging amid lingering trade conflict concerns. The dollar index against a basket of six major currencies was steady at 94.652 after gaining 0.4 percent overnight to snap a four-session losing run. While a modest easing in concerns over an escalating trade row between the United States and its trade partners had lifted the dollar off a two-week trough of 94.171, wariness lingered and capped


The dollar held steady against a basket of currencies on Wednesday, its earlier bounce from two-week lows flagging amid lingering trade conflict concerns. The dollar index against a basket of six major currencies was steady at 94.652 after gaining 0.4 percent overnight to snap a four-session losing run. While a modest easing in concerns over an escalating trade row between the United States and its trade partners had lifted the dollar off a two-week trough of 94.171, wariness lingered and capped
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Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: dan kitwood, getty images
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Dollar treads water as trade fears cap bounce from 2-week low

The dollar held steady against a basket of currencies on Wednesday, its earlier bounce from two-week lows flagging amid lingering trade conflict concerns.

The dollar index against a basket of six major currencies was steady at 94.652 after gaining 0.4 percent overnight to snap a four-session losing run.

While a modest easing in concerns over an escalating trade row between the United States and its trade partners had lifted the dollar off a two-week trough of 94.171, wariness lingered and capped the dollar.

Underlining investor caution, equity markets in Asia extended losses and slipped across the board on Wednesday.

“The spat is beginning to have an actual impact on corporate behavior and this is the difference from the earlier stages of the trade row,” said Koji Fukaya, president at FPG Securities in Tokyo.

“The ‘risk off’ trend has started to impact corporations in the developed markets, clouding the outlook for their economies and suppressing dollar demand.”

The dollar was 0.1 percent lower at 109.92 yen, after going as high as 110.23 on Tuesday. The yen is often sought in times of market turmoil and political tensions.

“The dollar lacks guidance from U.S. yields, which have been directionless. Furthermore, it is difficult to gauge whether the Trump administration is poised to become even more conservative towards trade issues or if it wants to ease its stance,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities in Tokyo.

The 10-year U.S. Treasury note yield was unchanged at 2.882 percent. The yield has been confined in June to a 15 basis point range after fluctuating by nearly 40 basis points in May, during which it touched a seven-year high of 3.128 percent.


Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: dan kitwood, getty images
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Euro rises on Italy relief

The euro rose to a near two-week high on Monday after assurances from Italy that it would not leave the European Union calmed investors’ nerves before a key European Central Bank (ECB) policy meeting. Italy’s economy minister said on Sunday his new coalition government would not leave the euro or issue securities to pay off companies owed money by the state, a plan investors viewed as a first step towards exiting the bloc. That sent Italian borrowing costs down sharply on Monday as the euro rall


The euro rose to a near two-week high on Monday after assurances from Italy that it would not leave the European Union calmed investors’ nerves before a key European Central Bank (ECB) policy meeting. Italy’s economy minister said on Sunday his new coalition government would not leave the euro or issue securities to pay off companies owed money by the state, a plan investors viewed as a first step towards exiting the bloc. That sent Italian borrowing costs down sharply on Monday as the euro rall
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Euro rises on Italy relief

The euro rose to a near two-week high on Monday after assurances from Italy that it would not leave the European Union calmed investors’ nerves before a key European Central Bank (ECB) policy meeting.

Italy’s economy minister said on Sunday his new coalition government would not leave the euro or issue securities to pay off companies owed money by the state, a plan investors viewed as a first step towards exiting the bloc.

That sent Italian borrowing costs down sharply on Monday as the euro rallied half a percent to $1.1816 towards a two-week high of $1.1840 touched on Thursday.

“The Italy comments calmed fears but let’s wait for the government’s policy actions this summer. That will decide the market’s direction,” said MUFG currency strategist Lee Hardman.

Investors are raising their bets that the ECB will signal at a policy meeting on Thursday a winding down of its vast bond-buying program by the end of 2018, following a flurry of hawkish comments by officials last week.

The euro bounced despite heightened worries about a global trade war following a spat at the Group of Seven summit in Canada between U.S. President Donald Trump and other leaders over automobile tariffs and other issues.

Trump lashed out at Canada and Europe over the U.S. trade deficit after he arrived in Singapore, where he is due to hold an historic meeting with North Korean leader Kim Jong Un on Tuesday.

The Mexican peso and Canadian dollar, which has been dogged by fears that Trump may scrap the North American Free Trade Agreement (NAFTA), both fell 0.6 percent.


Company: cnbc, Activity: cnbc, Date: 2018-06-10  Authors: torsakarin, istock, getty images
Keywords: news, cnbc, companies, leave, policy, italy, meeting, trump, relief, euro, rises, trade, investors, north, twoweek


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Euro recovers on rising bets ECB may roll back stimulus

The euro stayed near two-week highs against many of its rivals on Thursday, on rising bets the European Central Bank (ECB) may announce it will wind down its stimulus program by year-end as early as next week. The central bank’s chief economist Peter Praet, a close ally of President Mario Draghi, said the ECB would debate next week whether to end bond purchases later this year. Those remarks drove up the euro to a two-week high of $1.17955 on Wednesday. “In the near term, we are likely to see ev


The euro stayed near two-week highs against many of its rivals on Thursday, on rising bets the European Central Bank (ECB) may announce it will wind down its stimulus program by year-end as early as next week. The central bank’s chief economist Peter Praet, a close ally of President Mario Draghi, said the ECB would debate next week whether to end bond purchases later this year. Those remarks drove up the euro to a two-week high of $1.17955 on Wednesday. “In the near term, we are likely to see ev
Euro recovers on rising bets ECB may roll back stimulus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-06  Authors: sean gallup, getty images
Keywords: news, cnbc, companies, program, central, trillion, stimulus, roll, end, bets, recovers, rising, near, wind, ecb, week, euro, twoweek


Euro recovers on rising bets ECB may roll back stimulus

The euro stayed near two-week highs against many of its rivals on Thursday, on rising bets the European Central Bank (ECB) may announce it will wind down its stimulus program by year-end as early as next week.

The central bank’s chief economist Peter Praet, a close ally of President Mario Draghi, said the ECB would debate next week whether to end bond purchases later this year.

Jens Weidmann, the head of Germany’s central bank, said expectations the ECB would wind down its bond-buying program by the end of this year were plausible while his Dutch counterpart, Klaas Knot, said there was no reason to continue a quantitative easing program.

Those remarks drove up the euro to a two-week high of $1.17955 on Wednesday.

The common currency last traded at $1.1781, extending its gains so far this week to 1.0 percent.

“In the near term, we are likely to see event-driven trading on the euro. We should expect the euro to jump 100 pips (one cent) quite easily on comments from key officials,” said Kyosuke Suzuki, director of forex at Societe Generale.

The ECB has been debating whether to end the unprecedented 2.55 trillion euro ($2.99 trillion) bond purchase program this year as the threat of deflation has passed.


Company: cnbc, Activity: cnbc, Date: 2018-06-06  Authors: sean gallup, getty images
Keywords: news, cnbc, companies, program, central, trillion, stimulus, roll, end, bets, recovers, rising, near, wind, ecb, week, euro, twoweek


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