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POPULAR NEWS
Gold settles at fresh 2018 low as dollar index taps 11-month high

Gold prices marked a third straight session decline on Thursday to carve out another low for 2018 as a leading dollar index--lifted in a rising interest-rate environment--tapped its highest level since last summer. August gold lost $4, or 0.3%, to settle at $1,270.50 an ounce. Prices finished at their lowest for a most-active contract since Dec. 20, according to FactSet data. Around the metals complex, July silver rose 0.1% to $16.326 an ounce. Its Wednesday settlement at $16.309 was the...

Oil Trades Near $66 as OPEC Moves Closer to Output Boost Deal

Oil traded near $66 as OPEC and its allies reached a preliminary agreement despite strong opposition from Iran to boost production. Oil has fluctuated in a narrow range this month as traders looked for signals on whether OPEC can come to an agreement to raise output, and if they do, how much that increase would be. OPEC and allies are now seeking to balance the interests of producers and consumers as U.S. President Donald Trump expressed his displeasure with high prices while Iran and...

HK stocks hit six-month closing low as trade war fears persist (Review)

Hong Kong stocks ended at a six-month low on Thursday, as China-U.S. trade conflict fears curbed risk appetite. The Hang Seng index ended 1.4 percent lower at 29,296.05, while the China Enterprises Index closed lower by 1.2 percent at 11,364.66 points. œSino-U.S. trade tensions could further escalate, said Gao Ting, Head of China Strategy, UBS Securities. œWhile the macro impact would likely be limited, the negotiation path is hard to predict, which could have a long-term negative...

Gold Heads for Second Weekly Drop on Dollar's Strength

Gold poised for second weekly drop as stronger dollar counters uncertainty surrounding global growth amid trade tensions between the U.S. and China. Bullion for immediate delivery +0.1% to $1,268.45/oz at 9:24am in Singapore; -0.8% this week after -1.5% last week. Metal touched $1,261.50 on Thursday, lowest level since Dec. 20 Bloomberg Dollar Spot Index holds near highest since July 2017 In other precious metals : Silver +0.2% to $16.3522/oz to pare 2nd weekly...

Dow Extends Losing Streak to 8 Days

Stocks ended lower Thursday, with the Dow Jones Industrial Average stretching its losing streak to eight days as fears of a global trade war continued to weigh on investors. The Dow ended around 195 points lower near 24,463, a decline of 0.8%, according to preliminary figures. The string of losses matches a streak that ended in March 2017. The S&P 500 fell 0.6%, while the Nasdaq Composite lost 0.9%. Source : Marketwatch

U.K. Manufacturing Jumps, Construction Falls as Quarter Starts
Friday, 8 September 2017 16:02 WIB | ECONOMY |Ekonomi inggrisUK Manufacturing

The U.K. economy made a mixed start to the third quarter, output figures published Friday suggest.

Manufacturing rose in July for the first time this year, boosted by a strong rebound in car production, and the trade deficit was little changed from a downwardly revised June. But construction shrank for a fourth consecutive month after a plunge in new orders in the second quarter.

The figures, from the U.K. statistics office, may do little to dispel the picture of an economy stuck in the slow lane as Brexit uncertainty and the squeeze from rising prices take their toll. Growth in the first half was the weakest since 2012 and surveys suggest the dominant services industry is continuing to lose momentum.

Manufacturing rose 0.5 percent in July, more than the 0.3 percent economists predicted. Vehicle output, which had fallen sharply in recent months, surged almost 14 percent, the most since March 2009, helped by new models rolling off production lines. Total industrial production rose 0.2 percent, held back by a 1.4 percent drop in oil and gas production.

The deficit in goods and services was little changed at 2.9 billion pounds as both exports and imports fell 0.2 percent. The shortfall for June was revised down sharply from 4.6 billion pounds, meaning the deficit in the second quarter was 7.7 billion pounds instead of the 8.9 billion pounds previously reported. It suggests net trade was less of a drag on the economy in the period than estimated in GDP data last month.

But while the weak pound has given a boost to exports over the past year, there is little sign that pricier foreign goods are leading consumers and companies to buy British-made products instead. Core import volumes rose an annual 7.2 percent in the latest three months, just behind 8.9 percent increase in exports.

The persistence of high deficits means trade is failing to aid growth, disappointing officials and analysts hoping for a re-balancing of the economy. The British Chambers of Commerce on Friday downgraded its GDP forecasts for 2018 and 2019, citing a weaker contribution from net trade and more subdued consumption.

Construction output fell a larger-than-expected 0.9 percent, with private housebuilding contracting following a strong couple of months.

The effect of Brexit on investment and consumer spending was underlined by separate figures showing new construction orders plunged by 7.8 percent in the second quarter. Housing fell 4.9 percent and other work declined 9 percent.

 

Source : Bloomberg

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POPULAR NEWS
Gold settles at fresh 2018 low as dollar index taps 11-month high

Gold prices marked a third straight session decline on Thursday to carve out another low for 2018 as a leading dollar index--lifted in a rising interest-rate environment--tapped its highest level since last summer. August gold lost $4, or 0.3%, to settle at $1,270.50 an ounce. Prices finished at their lowest for a most-active contract since Dec. 20, according to FactSet data. Around the metals complex, July silver rose 0.1% to $16.326 an ounce. Its Wednesday settlement at $16.309 was the...

Oil Trades Near $66 as OPEC Moves Closer to Output Boost Deal

Oil traded near $66 as OPEC and its allies reached a preliminary agreement despite strong opposition from Iran to boost production. Oil has fluctuated in a narrow range this month as traders looked for signals on whether OPEC can come to an agreement to raise output, and if they do, how much that increase would be. OPEC and allies are now seeking to balance the interests of producers and consumers as U.S. President Donald Trump expressed his displeasure with high prices while Iran and...

HK stocks hit six-month closing low as trade war fears persist (Review)

Hong Kong stocks ended at a six-month low on Thursday, as China-U.S. trade conflict fears curbed risk appetite. The Hang Seng index ended 1.4 percent lower at 29,296.05, while the China Enterprises Index closed lower by 1.2 percent at 11,364.66 points. œSino-U.S. trade tensions could further escalate, said Gao Ting, Head of China Strategy, UBS Securities. œWhile the macro impact would likely be limited, the negotiation path is hard to predict, which could have a long-term negative...

Gold Heads for Second Weekly Drop on Dollar's Strength

Gold poised for second weekly drop as stronger dollar counters uncertainty surrounding global growth amid trade tensions between the U.S. and China. Bullion for immediate delivery +0.1% to $1,268.45/oz at 9:24am in Singapore; -0.8% this week after -1.5% last week. Metal touched $1,261.50 on Thursday, lowest level since Dec. 20 Bloomberg Dollar Spot Index holds near highest since July 2017 In other precious metals : Silver +0.2% to $16.3522/oz to pare 2nd weekly...

Dow Extends Losing Streak to 8 Days

Stocks ended lower Thursday, with the Dow Jones Industrial Average stretching its losing streak to eight days as fears of a global trade war continued to weigh on investors. The Dow ended around 195 points lower near 24,463, a decline of 0.8%, according to preliminary figures. The string of losses matches a streak that ended in March 2017. The S&P 500 fell 0.6%, while the Nasdaq Composite lost 0.9%. Source : Marketwatch

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