Asia stocks slip amid renewed US-China trade uncertainty; Singapore exports tumble

Stocks in Asia mostly slipped on Wednesday following overnight developments on the US-China trade front. In mainland China, the Shanghai composite closed 0.2% lower at 2,931.69, while the Shenzhen component added 0.2% to finish its trading day at 9,302.00 . Hong Kong’s Hang Seng index slipped 0.18%, as of its final hour of trading. Overall, the MSCI Asia-ex Japan index slipped 0.26%. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak, while the Nasdaq Composite shed


Stocks in Asia mostly slipped on Wednesday following overnight developments on the US-China trade front. In mainland China, the Shanghai composite closed 0.2% lower at 2,931.69, while the Shenzhen component added 0.2% to finish its trading day at 9,302.00 . Hong Kong’s Hang Seng index slipped 0.18%, as of its final hour of trading. Overall, the MSCI Asia-ex Japan index slipped 0.26%. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak, while the Nasdaq Composite shed
Asia stocks slip amid renewed US-China trade uncertainty; Singapore exports tumble Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: eustance huang
Keywords: news, cnbc, companies, renewed, trading, slipped, singapore, stocks, exports, day, slip, tumble, index, trade, monetary, economists, data, asia, uschina, uncertainty


Asia stocks slip amid renewed US-China trade uncertainty; Singapore exports tumble

Stocks in Asia mostly slipped on Wednesday following overnight developments on the US-China trade front. In mainland China, the Shanghai composite closed 0.2% lower at 2,931.69, while the Shenzhen component added 0.2% to finish its trading day at 9,302.00 . The Shenzhen composite also rose 0.162% to close at 1,574.35. Hong Kong’s Hang Seng index slipped 0.18%, as of its final hour of trading. Shares of Chinese live-streaming platform DouYu International Holdings were priced at the low end ahead of their public debut on the Nasdaq stateside later on Wednesday. The firm is backed by Chinese tech behemoth Tencent, which saw its own Hong Kong-listed stock rise more than 0.1%. The Nikkei 225 in Japan fell 0.31% to close at 21,469.18, with shares of index heavyweight and conglomerate Softbank Group dropping 2.35%, while the Topix ended its trading day slightly lower at 1,567.41. Over in South Korea, the Kospi declined 0.91% to close at 2,072.92, as chipmaker SK Hynix saw its stock fall 1.97%, while Australia’s S&P/ASX 200 rose 0.49% to finish its trading day at 6,673.30. Overall, the MSCI Asia-ex Japan index slipped 0.26%.

Asia-Pacific Market Indexes Chart

Singapore exports tumble

Singapore’s exports dropped much more than expected in June, with data on Wednesday showing non-oil domestic exports in June plunging 17.3% year-on-year, widely missing the expected 9.9% contraction by economists in a Reuters poll. It was also the largest decline since February 2013, when exports dropped 33.2% as compared to the year before, according to Refinitiv Eikon data. The Straits Times index was flat in afternoon trade, while the Singapore dollar weakened 0.21% against the greenback to 1.3610, following levels below 1.356 seen yesterday. That comes on the back of a decline in Singapore’s gross domestic product for the second quarter, which was also well below forecasts. Economists now widely expect Singapore’s central bank to ease monetary policy, as its export-reliant economy slows amid the U.S.-China trade war. Economists at ING wrote in a note that the latest data could result in an “imminent” easing of monetary policy by the Monetary Authority of Singapore (MAS) in adjusting its exchange rate between the Singapore dollar and a basket of currencies of the country’s major trading partners.

US-China trade jitters

U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion worth of Chinese goods “if we want.” Trump’s comments come after China and the U.S. agreed not to ratchet up trade tensions in an effort to restart negotiations, with the two countries already having slapped billions of dollars worth of tariffs on each other’s goods. The protracted trade fight between the two economic powerhouses has raised concerns over its potential impact on economic growth as well as business confidence. Overnight stateside, the Dow Jones Industrial Average ended its four-day winning streak as it slipped 23.53 points to 27,335.63. The S&P 500 closed 0.3% lower at 3,004.04 and snapped a five-day winning streak, while the Nasdaq Composite shed 0.4% to finish its trading day at 8,222.80. Meanwhile, U.S. Federal Reserve Chairman Jerome Powell on Tuesday reiterated his pledge to “act as appropriate” to keep the economic expansion going. His comments come amid expectations that the central bank could cut interest rates at its monetary policy meeting later in July. However, data on Tuesday showed U.S. retail sales increased more than expected in June, pointing to strong consumer spending, which could help to blunt some of the hit on the economy from weak business investment. Retail sales advanced 0.4% last month, higher than expectations of a 0.1% increase in June by economists in a Reuters poll.

Oil and currencies


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: eustance huang
Keywords: news, cnbc, companies, renewed, trading, slipped, singapore, stocks, exports, day, slip, tumble, index, trade, monetary, economists, data, asia, uschina, uncertainty


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Federal appeals court says Amazon is liable for third-party sellers’ products

Kudlow says US-China trade talks to be held in person as soon as…Kudlow later backed away slightly from his timeline, saying that the face-to-face talks would begin “soon” and that an announcement would be forthcoming. Politicsread more


Kudlow says US-China trade talks to be held in person as soon as…Kudlow later backed away slightly from his timeline, saying that the face-to-face talks would begin “soon” and that an announcement would be forthcoming. Politicsread more
Federal appeals court says Amazon is liable for third-party sellers’ products Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: salvador rodriguez lauren feiner, salvador rodriguez, lauren feiner
Keywords: news, cnbc, companies, products, amazon, timeline, appeals, trade, slightly, person, soon, saying, later, sellers, federal, kudlow, uschina, thirdparty, talks, liable, court


Federal appeals court says Amazon is liable for third-party sellers' products

Kudlow says US-China trade talks to be held in person as soon as…

Kudlow later backed away slightly from his timeline, saying that the face-to-face talks would begin “soon” and that an announcement would be forthcoming.

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: salvador rodriguez lauren feiner, salvador rodriguez, lauren feiner
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European stocks open higher as Trump says US-China trade talks underway

European stocks opened higher again on Tuesday after U.S. President Donald Trump said that trade talks with China, which had stalled in May, have “already begun” following his meeting with Chinese President Xi Jinping at the weekend. The pan-European Stoxx 600 rose 0.2% after the opening bell, basic resources emerging as the strongest performing sector with a 0.6% rise in early deals.


European stocks opened higher again on Tuesday after U.S. President Donald Trump said that trade talks with China, which had stalled in May, have “already begun” following his meeting with Chinese President Xi Jinping at the weekend. The pan-European Stoxx 600 rose 0.2% after the opening bell, basic resources emerging as the strongest performing sector with a 0.6% rise in early deals.
European stocks open higher as Trump says US-China trade talks underway Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: elliot smith
Keywords: news, cnbc, companies, european, trump, higher, president, xi, stoxx, underway, open, stalled, talks, trade, uschina, stocks, strongest, weekendthe


European stocks open higher as Trump says US-China trade talks underway

European stocks opened higher again on Tuesday after U.S. President Donald Trump said that trade talks with China, which had stalled in May, have “already begun” following his meeting with Chinese President Xi Jinping at the weekend.

The pan-European Stoxx 600 rose 0.2% after the opening bell, basic resources emerging as the strongest performing sector with a 0.6% rise in early deals.


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: elliot smith
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Dollar trims gains as trade optimism fades, Aussie near recent lows post RBA cut

The dollar gave up gains on Tuesday as investors curbed earlier enthusiasm about U.S.-China trade progress while the Australian currency barely budged from recent lows after a central bank rate cut decision offered few clues about future easing. “The tone from the RBA was not that pessimistic, which gives the impression they are somewhat reluctant to cut rates further,” said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities in Tokyo. In a statement the central said it would lower r


The dollar gave up gains on Tuesday as investors curbed earlier enthusiasm about U.S.-China trade progress while the Australian currency barely budged from recent lows after a central bank rate cut decision offered few clues about future easing. “The tone from the RBA was not that pessimistic, which gives the impression they are somewhat reluctant to cut rates further,” said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities in Tokyo. In a statement the central said it would lower r
Dollar trims gains as trade optimism fades, Aussie near recent lows post RBA cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02
Keywords: news, cnbc, companies, low, rba, expectations, optimism, gains, cut, recent, rate, trims, fades, uschina, lows, trade, post, near, central, dollar, rates, lower


Dollar trims gains as trade optimism fades, Aussie near recent lows post RBA cut

The dollar gave up gains on Tuesday as investors curbed earlier enthusiasm about U.S.-China trade progress while the Australian currency barely budged from recent lows after a central bank rate cut decision offered few clues about future easing.

The yuan also shed its early rise to trade lower on the day after U.S. President Donald Trump said any deal with China would need to be somewhat tilted in favor of the United States, suggesting negotiations may not proceed smoothly.

The U.S. dollar index against a basket of six major currencies earlier rose to its highest in a week but retreated as doubt set in about the resumption of U.S.-China efforts to resolve their trade war.

Market focus now shifts to Reserve Bank of Australia Governor Philip Lowe, who speaks to business leaders in the northern Australian city of Darwin at 0930 GMT, which could provide clues on how much further interest rates could fall.

“The tone from the RBA was not that pessimistic, which gives the impression they are somewhat reluctant to cut rates further,” said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities in Tokyo.

“Short positions in the Aussie were already so heavy. Now we’re in a situation where the main risk is for the Aussie to be bought back.”

The Australian dollar was up 0.3% at $0.6983 on Tuesday after slumping 0.9% on Monday, its biggest decline since April 24.

The RBA lowered interest rates by 25 basis points to a record low of 1.00%, matching economists’ expectations. In a statement the central said it would lower rates again “if needed,” a phrase some analysts took to mean an additional rate cut is less certain than before.

The U.S. dollar index was little changed at 96.790 on Tuesday having posted its biggest increase since March 7 on Monday on hopes Beijing and Washington were making headway in their trade negotiations.

The United States and China have already imposed tariffs of up to 25% on hundreds of billions of dollars of each other’s goods in a dispute about China’s trade practices that has lasted nearly a year.

The drawn out trade war has slowed global growth and pushed many central banks to cut interest rates to support their economies.

The offshore yuan gave up early gains to trade around 0.2% lower at 6.8690 versus the dollar, on course for its biggest daily decline in a week.

The global investor spotlight will move to U.S. non-farm payrolls data due on Friday, which economists expect to have risen by 160,000 in June, compared with a 75,000 increase in May.

However, analysts expect the dollar will struggle to make substantial gains given expectations the Federal Reserve will cut rates due to low inflation and worries about the U.S.-China trade war.

“It would be a mistake to view the rise in the dollar on Monday as the beginning of a broad-based rally,” said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo.

“Treasury yields are capped around 2%, because there are still expectations for Fed rate cuts.”

The euro briefly fell to an eight-day low of $1.1275 before trading little changed at $1.1289. The common currency fell 0.7% on Monday, its biggest-one day decline since March as disappointing economic data triggered a tumble in bond yields and boosted expectations for a European Central Bank rate cut.


Company: cnbc, Activity: cnbc, Date: 2019-07-02
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Dollar advances to 2-week high after US-China trade tensions ease

Trump said he would hold back on new tariffs and that China will buy more farm products, and he offered to ease restrictions on tech company Huawei. China’s offshore yuan also rose 0.24% to as high as 6.8487 yuan per dollar, near a two-month high, before easing back to 6.8476 after disappointing factory activity data. The yen, which investors tend to buy when they are looking for safety, fell, pushing the dollar up 0.3% on the day at 108.24 yen. Earlier, the dollar hit a two-week high of 108.53


Trump said he would hold back on new tariffs and that China will buy more farm products, and he offered to ease restrictions on tech company Huawei. China’s offshore yuan also rose 0.24% to as high as 6.8487 yuan per dollar, near a two-month high, before easing back to 6.8476 after disappointing factory activity data. The yen, which investors tend to buy when they are looking for safety, fell, pushing the dollar up 0.3% on the day at 108.24 yen. Earlier, the dollar hit a two-week high of 108.53
Dollar advances to 2-week high after US-China trade tensions ease Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01
Keywords: news, cnbc, companies, activity, meeting, high, yen, tensions, advances, data, rose, ease, sides, yuan, 2week, trade, uschina, dollar, investors


Dollar advances to 2-week high after US-China trade tensions ease

The dollar rose to two-week highs on Monday after the United States and China agreed to restart their troubled trade talks, with investors selling safe-haven currencies such as the Japanese yen and Swiss franc as tensions eased between the world’s two largest economies.

While reports of an agreement had been flagged ahead of U.S. President Donald Trump and Chinese counterparty Xi Jinping’s meeting on the sidelines of the G20 meeting, the outcome was more positive than investors had expected.

Trump said he would hold back on new tariffs and that China will buy more farm products, and he offered to ease restrictions on tech company Huawei.

“The concessions from both sides are hardly anything for both sides to brag about; this meeting basically just brings us back to where we were in talks in late April,” said Edward Moya, senior market analyst at OANDA in New York. “While no set timeline has been suggested by both sides, financial markets are appearing to be optimistic we could see something by autumn,” he added.

Global stocks jumped and investors dumped safe-haven assets. China’s offshore yuan also rose 0.24% to as high as 6.8487 yuan per dollar, near a two-month high, before easing back to 6.8476 after disappointing factory activity data.

The dollar also gained after data showed the U.S. manufacturing activity index, as measured by the Institute for Supply Management, came in slightly higher than expected in June to 51.7.

The details of the report, however, were not so stellar, with the price paid index, an inflation indicator, hitting its slowest since February 2016.

The dollar, which has fallen in recent weeks on rising expectations for Federal Reserve interest rate cuts, rose 0.75% against a basket of currencies, to 96.85.

The euro, meanwhile, fell 0.76% to $1.1283. The yen, which investors tend to buy when they are looking for safety, fell, pushing the dollar up 0.3% on the day at 108.24 yen.

Earlier, the dollar hit a two-week high of 108.53 yen. The dollar also rose versus the Swiss franc, up 0.8 pct to 0.9839 franc.

This week sees the release of crucial U.S. economic data including nonfarm payrolls on Friday and non-manufacturing activity on Wednesday, which should help investors better assess whether the Fed will cut interest rates later this month.

“Economic data will clearly have a more important role this week, and we can’t help but think that Friday’s U.S. employment overview will be a defining moment for July Fed rate expectations,” said BMO Capital Markets FX strategist Stephen Gallo.


Company: cnbc, Activity: cnbc, Date: 2019-07-01
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Here are the biggest stock winners from the US-China trade ceasefire

A truce in the U.S.-China trade war has sparked a relief rally across risk assets, but these stocks are really cheering. The biggest winners from the ceasefire are chipmakers. Other stocks on Goldman’s list are also rallying on the trade truce. Yum China, which gets 100% of its sales from China, gained more than 3% on Monday. Fiber laser manufacturer IPG Photonics and integrated power solutions company Monolithic Power Systems both climbed more than 2%.


A truce in the U.S.-China trade war has sparked a relief rally across risk assets, but these stocks are really cheering. The biggest winners from the ceasefire are chipmakers. Other stocks on Goldman’s list are also rallying on the trade truce. Yum China, which gets 100% of its sales from China, gained more than 3% on Monday. Fiber laser manufacturer IPG Photonics and integrated power solutions company Monolithic Power Systems both climbed more than 2%.
Here are the biggest stock winners from the US-China trade ceasefire Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: yun li
Keywords: news, cnbc, companies, president, biggest, power, china, stocks, winners, chipmakers, rally, stock, trade, truce, sales, uschina, qualcomm, ceasefire


Here are the biggest stock winners from the US-China trade ceasefire

A truce in the U.S.-China trade war has sparked a relief rally across risk assets, but these stocks are really cheering.

The biggest winners from the ceasefire are chipmakers. Semiconductors not only benefited from the agreement between President Donald Trump and Chinese President Xi Jinping to hold off on new tariffs, but also from Trump’s decision to ease his ban on American companies selling products to Chinese telecom giant Huawei.

Goldman Sachs scanned 2018 company filings to find the companies with the highest sales exposure to Greater China in the Russell-1000 Index. The list is concentrated in chipmakers, including Qorvo, Qualcomm, Micron Technology, Nvidia, Broadcom and Intel.

The group is leading Monday’s rally with Skyworks soaring nearly 7%, Western Digital up 4.3%, Micron up 5.3%, while Qualcomm and Broadcom each jumped over 5%. The VanEck Vectors Semiconductor ETF, which includes the top S&P 500 chipmakers, rose over 4% on Monday.

Other stocks on Goldman’s list are also rallying on the trade truce. Yum China, which gets 100% of its sales from China, gained more than 3% on Monday. Fiber laser manufacturer IPG Photonics and integrated power solutions company Monolithic Power Systems both climbed more than 2%.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: yun li
Keywords: news, cnbc, companies, president, biggest, power, china, stocks, winners, chipmakers, rally, stock, trade, truce, sales, uschina, qualcomm, ceasefire


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US Treasury yields rise as US-China trade truce dents appetite for safe-haven assets

U.S. Treasuries retreated after a trade truce between the U.S. and China dented investor appetite for safe-haven assets. The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.0117%, while the yield on the 30-year Treasury bond was also higher at 2.5364%. Market focus is largely attuned to global trade developments, after the world’s two largest economies agreed to resume trade negotiations over the weekend. Trump and Chinese President Xi Jinping


U.S. Treasuries retreated after a trade truce between the U.S. and China dented investor appetite for safe-haven assets. The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.0117%, while the yield on the 30-year Treasury bond was also higher at 2.5364%. Market focus is largely attuned to global trade developments, after the world’s two largest economies agreed to resume trade negotiations over the weekend. Trump and Chinese President Xi Jinping
US Treasury yields rise as US-China trade truce dents appetite for safe-haven assets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith, yun li
Keywords: news, cnbc, companies, china, trump, higher, assets, xi, yields, rise, truce, treasury, agreed, chinese, yield, trade, uschina, tariffs, safehaven, dents, appetite


US Treasury yields rise as US-China trade truce dents appetite for safe-haven assets

U.S. Treasuries retreated after a trade truce between the U.S. and China dented investor appetite for safe-haven assets.

The yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.0117%, while the yield on the 30-year Treasury bond was also higher at 2.5364%.

Market focus is largely attuned to global trade developments, after the world’s two largest economies agreed to resume trade negotiations over the weekend.

President Donald Trump offered concessions to his Chinese counterpart when the two leaders met on the sidelines of the Group of Twenty (G-20) summit in Japan last week. Trump and Chinese President Xi Jinping agreed not to impose new tariffs on U.S. and Chinese goods. The U.S. said they would hold off on the potential 25% tariffs on the remaining $300 billion of imports from China and China said they would continue to buy U.S. agricultural products.

These included no new charges and an easing of restrictions on Chinese telecommunications giant Huawei in order to soothe tensions with Beijing.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith, yun li
Keywords: news, cnbc, companies, china, trump, higher, assets, xi, yields, rise, truce, treasury, agreed, chinese, yield, trade, uschina, tariffs, safehaven, dents, appetite


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Gold falls 2% as dollar, equities gain on US-China truce

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold slid as much as 2% on Monday as the dollar rallied and investors flocked to riskier assets after the resumption of trade talks between the United States and China. Spot gold fell 1.7 % to $1,384.24 per ounce, after falling to its lowest since June 20 at $1,381.51. Among other precious metals, silver fell 1.3 % to $15.11 per ounce, while palladium rose 0.62 % to$1,547.51. Platinum gained 0.42 % to $829.50 per ounc


Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Gold slid as much as 2% on Monday as the dollar rallied and investors flocked to riskier assets after the resumption of trade talks between the United States and China. Spot gold fell 1.7 % to $1,384.24 per ounce, after falling to its lowest since June 20 at $1,381.51. Among other precious metals, silver fell 1.3 % to $15.11 per ounce, while palladium rose 0.62 % to$1,547.51. Platinum gained 0.42 % to $829.50 per ounc
Gold falls 2% as dollar, equities gain on US-China truce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01
Keywords: news, cnbc, companies, gain, equities, silver, week, truce, gold, united, picture, ounce, trade, uschina, fell, falls, dollar, states


Gold falls 2% as dollar, equities gain on US-China truce

Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria.

Gold slid as much as 2% on Monday as the dollar rallied and investors flocked to riskier assets after the resumption of trade talks between the United States and China.

Spot gold fell 1.7 % to $1,384.24 per ounce, after falling to its lowest since June 20 at $1,381.51.

U.S. gold futures dropped 1.8 % to $1,387.4.

The United States and China agreed on Saturday to resume trade negotiations after President Donald Trump offered concessions to his Chinese counterpart Xi Jinping when the two met at the sidelines of the G20 summit in Japan.

The news drove a rally in global stocks and sent the dollar index to the highest in more than a week, limiting flows into safe-haven bullion.

“Under the positive (geopolitical) circumstances, the dollar is rallying and that is having a negative effect on gold…The poor picture on the technical charts is also causing some additional selling today,” said Rob Lutts, chief investment officer at Cabot Wealth Management.

A break below $1,350 could paint a bearish picture, he added.

Gold prices hit a six-year high last week at $1,438.63 an ounce, driven by a dovish outlook from major central banks and an escalation of tensions between the United States and Iran.

The metal has shed about $50 dollars since it broke the $1,400 level but some analysts see it as a healthy correction and an opportunity to buy.

“We do not expect gold to fall significantly further. In our view, it is above all the upcoming European Central Bank and Fed rate cuts, and the political risks, that argue against any pronounced and lasting price slide,” Commerzbank analysts said in a note.

Meanwhile, holdings of the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.22% on Friday. Holdings had still risen nearly 7% in June as of last week.

Among other precious metals, silver fell 1.3 % to $15.11 per ounce, while palladium rose 0.62 % to$1,547.51.

Platinum gained 0.42 % to $829.50 per ounce, after hitting a six week high of $846.11 earlier in the session.


Company: cnbc, Activity: cnbc, Date: 2019-07-01
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‘It’s a temporary timeout’: Trump and Xi agree to negotiations, but offer no clear path to end US-China trade war

After threatening to impose potentially devastating tariffs, President Donald Trump pulled back in the wake of talks with Chinese President Xi Jinping at the G-20 summit in Japan on Saturday. Trump and Xi, who both tout their strong personal relationship, reached a similar agreement at the previous G-20 summit in Argentina at the end of the last year. But those talks ultimately failed and tariffs today are much higher than they were even as recently as early May. The president said as much after


After threatening to impose potentially devastating tariffs, President Donald Trump pulled back in the wake of talks with Chinese President Xi Jinping at the G-20 summit in Japan on Saturday. Trump and Xi, who both tout their strong personal relationship, reached a similar agreement at the previous G-20 summit in Argentina at the end of the last year. But those talks ultimately failed and tariffs today are much higher than they were even as recently as early May. The president said as much after
‘It’s a temporary timeout’: Trump and Xi agree to negotiations, but offer no clear path to end US-China trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-29  Authors: spencer kimball
Keywords: news, cnbc, companies, timeout, offer, trade, business, summit, g20, war, talks, uschina, tariffs, president, path, temporary, negotiations, deal, xi, clear, trump


'It's a temporary timeout': Trump and Xi agree to negotiations, but offer no clear path to end US-China trade war

The United States and China have been here before.

After threatening to impose potentially devastating tariffs, President Donald Trump pulled back in the wake of talks with Chinese President Xi Jinping at the G-20 summit in Japan on Saturday.

Trump and Xi, who both tout their strong personal relationship, reached a similar agreement at the previous G-20 summit in Argentina at the end of the last year.

But those talks ultimately failed and tariffs today are much higher than they were even as recently as early May.

And if history is any guide to the future, the gentlemen’s agreement struck between the leaders of the world’s two largest economies over the weekend in Osaka offers no clear path to rolling back tariffs and ending a trade war that threatens to tip the global economy into recession.

“It’s a temporary timeout,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, told CNBC. “I don’t see any path to a deal and we’re stuck with 25% tariffs on $250 billion of goods.”

Boockvar isn’t alone. The Eurasia Group, for its part, sees only a 45% chance that a trade deal gets done this year.

And Trump is no rush. The president said as much after departing the G-20 summit and made clear that the tariffs currently in place are unlikely to be reduced any time soon.

In a Fox Business News interview before the G-20, the president said he was “very happy with where we are now, ” claiming that the U.S. is “taking in a fortune, and frankly [it’s] not a very good thing for China, but it is a good thing for us. ”

The business community by and large disagrees.

More than 600 U.S. companies, including Target and Walmart, had urged Trump not to impose additional tariffs, warning that such a move could cost 2 million American jobs.

And while business groups Saturday welcomed the renewed talks, they made clear they’re still anxiously waiting for a final deal. According to Boockvar, there’s little reason to celebrate.

“If I’m a CEO, waiting on how this weekend was going to go, do I feel any better? If I’m in manufacturing, maybe I feel a touch better it’s not worse in the short term, but I still have to deal with this 25% tariff and the threat of more tariffs hanging over,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-06-29  Authors: spencer kimball
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A real US-China deal will be ‘hard to craft’: MUFG

A real US-China deal will be ‘hard to craft’: MUFG4 Hours AgoCliff Tan of MUFG Bank discusses U.S.-China trade talks and outlook for currencies including the U.S. dollar and the British pound. He say cable will continue to weaken.


A real US-China deal will be ‘hard to craft’: MUFG4 Hours AgoCliff Tan of MUFG Bank discusses U.S.-China trade talks and outlook for currencies including the U.S. dollar and the British pound. He say cable will continue to weaken.
A real US-China deal will be ‘hard to craft’: MUFG Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28
Keywords: news, cnbc, companies, real, say, trade, uschina, deal, outlook, mufg4, talks, mufg, weaken, hard, craft, pound, tan


A real US-China deal will be 'hard to craft': MUFG

A real US-China deal will be ‘hard to craft’: MUFG

4 Hours Ago

Cliff Tan of MUFG Bank discusses U.S.-China trade talks and outlook for currencies including the U.S. dollar and the British pound. He say cable will continue to weaken.


Company: cnbc, Activity: cnbc, Date: 2019-06-28
Keywords: news, cnbc, companies, real, say, trade, uschina, deal, outlook, mufg4, talks, mufg, weaken, hard, craft, pound, tan


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