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POPULAR NEWS
Gold extends loss to a third session as dollar strengthens to 1 1/2-year high

Gold prices on Monday settled lower for a third straight session as a popular gauge of the dollar strengthened to its highest level in more than 17 months, weighing on demand for the precious metal. December gold lost $5.10, or 0.4%, to settle at $1,203.50 an ounce, after posting a drop of 2% last week, falling nearly 1.4% on Friday alone. Monday marked the lowest finish for a most-active contract since Oct. 10, according to FactSet data. Prices for the metal have now posted declines in six...

Gold Holds Near One-Month Low as Inflation in Focus

Gold held near the lowest in a month as investors awaited data on inflation later this week for signs that the Federal Reserve has a case for raising interest rates further. A Labor Department report on Friday showed producer prices in the U.S. rose the most since 2012 on broad gains in costs for goods and services. Consumer inflation probably rebounded in October after easing in September, according to analyst estimates before data due Wednesday. At its meeting last...

Oil Pares Bear Market Collapse on Prospect of OPEC Curbs in 2019

Oil rose for the first time in 11 sessions on the possibility that OPEC and its allies will cut output next year and after Saudi Arabia said it will reduce sales in December. While futures in New York climbed as much as 1.3 percent on Monday, they are still down about 20 percent from a 2014-high reached early last month. Top OPEC member Saudi Arabia said exports will be curbed by 500,000 barrels a day in December, and a committee of the Organization of Petroleum Exporting...

Gold Holds Near One-Month Low as Inflation in Focus

Gold held near the lowest in a month as investors awaited data on inflation later this week for signs that the Federal Reserve has a case for raising interest rates further. A Labor Department report on Friday showed producer prices in the U.S. rose the most since 2012 on broad gains in costs for goods and services. Consumer inflation probably rebounded in October after easing in September, according to analyst estimates before data due Wednesday. At its meeting last...

Tokyo Stocks Open Lower on Monday

Tokyo stocks opened lower on Monday tracking falls on Wall Street last week amid lingering worries over global economic growth. The Nikkei 225 index was down 0.55 percent, or 121.75 points, at 22,128.50 in early trade, while the broader Topix index was down 0.50 percent, or 8.30 points, at 1,664.68. Source : AFP

U.S. Trade Gap Hits Seven-Month High Amid Expanding Tariff War
Friday, 2 November 2018 19:47 WIB | ECONOMY |Ekonomi ASGDP AS

The U.S. trade deficit widened more than forecast in September to a seven-month high as imports expanded and the merchandise gap with China hit a record amid an escalating tariff war.

The gap for goods and services increased 1.3 percent from the prior month to $54 billion, Commerce Department data showed Friday. The median estimate of economists surveyed by Bloomberg called for a deficit of $53.6 billion. Imports and exports both rose 1.5 percent.

The monthly report provides details around third-quarter data released last week that showed trade imposed the biggest drag on growth in 33 years amid tariffs on China and counter-levies by the Asian nation. While President Donald Trump is threatening more action, U.S. businesses already are facing higher prices and supply-chain disruptions as they rush to buy materials and other items.

Overall exports rose to $212.6 billion, including gains in petroleum products, gold, oil and aircraft. Imports increased to $266.6 billion, boosted by a range of capital and commercial goods. The overall trade gap for goods increased to $76.3 billion, also a record and in line with the preliminary figure last week.

The unadjusted merchandise trade gap with China, the world's second-biggest economy, widened to $40.2 billion from $38.6 billion. 

American soybean exports fell 29 percent from the prior month to $1.79 billion, the lowest since February. That extended the unwinding of a run-up in the second quarter before Chinese retaliatory levies were imposed.

Analysts are monitoring the trade data to assess whether the tariff headwinds are starting to inflict more pain on the economy than they anticipated. The stronger dollar also is a potential hurdle for exports of American-made goods.

An index of U.S. manufacturing fell by more than forecast to a six-month low in October as a measure of export orders declined to the lowest since 2016, data from the Institute for Supply Management showed Thursday. 

Gross domestic product expanded at a 3.5 percent pace in the July-to-September period, marking the best back-to-back quarters of growth since 2014. Net exports subtracted 1.78 percentage points from GDP growth, reflecting an unwinding of the boost in the prior quarter when U.S. exporters of soybeans and other products stepped up shipments to beat retaliatory tariffs from abroad.

Source : Bloomberg

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POPULAR NEWS
Gold extends loss to a third session as dollar strengthens to 1 1/2-year high

Gold prices on Monday settled lower for a third straight session as a popular gauge of the dollar strengthened to its highest level in more than 17 months, weighing on demand for the precious metal. December gold lost $5.10, or 0.4%, to settle at $1,203.50 an ounce, after posting a drop of 2% last week, falling nearly 1.4% on Friday alone. Monday marked the lowest finish for a most-active contract since Oct. 10, according to FactSet data. Prices for the metal have now posted declines in six...

Gold Holds Near One-Month Low as Inflation in Focus

Gold held near the lowest in a month as investors awaited data on inflation later this week for signs that the Federal Reserve has a case for raising interest rates further. A Labor Department report on Friday showed producer prices in the U.S. rose the most since 2012 on broad gains in costs for goods and services. Consumer inflation probably rebounded in October after easing in September, according to analyst estimates before data due Wednesday. At its meeting last...

Oil Pares Bear Market Collapse on Prospect of OPEC Curbs in 2019

Oil rose for the first time in 11 sessions on the possibility that OPEC and its allies will cut output next year and after Saudi Arabia said it will reduce sales in December. While futures in New York climbed as much as 1.3 percent on Monday, they are still down about 20 percent from a 2014-high reached early last month. Top OPEC member Saudi Arabia said exports will be curbed by 500,000 barrels a day in December, and a committee of the Organization of Petroleum Exporting...

Gold Holds Near One-Month Low as Inflation in Focus

Gold held near the lowest in a month as investors awaited data on inflation later this week for signs that the Federal Reserve has a case for raising interest rates further. A Labor Department report on Friday showed producer prices in the U.S. rose the most since 2012 on broad gains in costs for goods and services. Consumer inflation probably rebounded in October after easing in September, according to analyst estimates before data due Wednesday. At its meeting last...

Tokyo Stocks Open Lower on Monday

Tokyo stocks opened lower on Monday tracking falls on Wall Street last week amid lingering worries over global economic growth. The Nikkei 225 index was down 0.55 percent, or 121.75 points, at 22,128.50 in early trade, while the broader Topix index was down 0.50 percent, or 8.30 points, at 1,664.68. Source : AFP

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