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POPULAR NEWS
Gold futures give back most of their gain from a day earlier

Gold futures fell nearly 2% on Tuesday, with prices giving back nearly all of what they gained a day earlier. "While economic growth concerns surrounding the coronavirus were the most recent impetus supporting gold prices, there is very little reason for gold prices to move significantly lower given the current global environment," said Jeff Klearman, portfolio manager at GraniteShares. "Gold prices have benefited from three main factors, including heightened investor appetite for safe haven...

Gold futures finish lower for a second straight session

Gold futures fell on Wednesday for a second straight session, pressured on the heels of some strength in the U.S. dollar, even as concerns over the economic hit from COVID-19 remain. "It would appear that gold needs a clear sign of a pandemic and clear signs of severe global slowing to ignite a return of aggressive investment buying," said analysts at Zaner Metals, in a daily note. "The trade could be fearful about the potential for a sustained setback in Chinese physical gold...

Oil falls 3% to settle under $50 for first time in 2 weeks

Oil fell below $55 a barrel on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses. Crude fell almost 4% on Monday, with other commodities also reporting losses while U.S. and European equities suffered their steepest declines since mid-2016 on concern the coronavirus outbreak could turn into a pandemic. Brent crude fell $1.48 to trade at $54.86 per barrel. U.S. West Texas...

Gold Climbs as Trump Comments Fail to Ease Virus Fears

Gold rose for the seventh time in eight days as investors continued to weigh the impact of the coronavirus outbreak, with comments by the Trump administration failing to allay concerns about the disease. More cases were reported in countries other than China in the past 24 hours for the first time, the World Health Organization said, with new infections in nations from Pakistan to Brazil. President Donald Trump assured Americans that they face little risk, although...

Gold Advances as Virus Fears Reignite Haven Demand

Gold rebounded after the U.S. Centers for Disease Control and Prevention warned Americans to prepare for a potential coronavirus outbreak at home and the total number of cases in South Korean topped the 1,000 mark. Spot gold as much as +0.7% to $1,646.33/oz, and was at $1,643.66 at 9:18am in Singapore Metal -1.5% Tuesday after touching $1,689.31 on Monday, the highest level since 2013 Bloomberg Dollar Spot Index steady after -0.2% Tuesday Other precious metals:...

Germany Starts to Shake Off Slump With Better Start to 2020
Friday, 24 January 2020 15:49 WIB | ECONOMY |Ekonomi Jerman

Germany economy took a big step to putting the horrors of 2019 behind it, opening the new year with a pickup in activity and business confidence.

IHS Markit's composite Purchasing Managers' Index rose to a five-month high of 51.1 in January, beating forecasts for a reading of 50.5. While manufacturing is still shrinking, the pace of contraction was less severe than economists had predicted.

Amid a thawing of U.S.-China trade tensions, the report adds to hopes that Europe's largest economy is through the worst of its slump. A major upturn isn™t in the cards for this year, but the stabilization alone is good news for an economy that took a beating in 2019.

Confidence in both services and manufacturing strengthened this month, with factories the most upbeat in almost 1 1/2 years. On Thursday, European Central Bank President Christine Lagarde noted that the trade backdrop had improved and said that downside risks to the economic outlook are œsomewhat less pronounced.

œThe storm clouds over the German economy may be starting to clear, said Phil Smith, an economist at IHS Markit. œDemand has started to firm up a little both at home and abroad.

There's still a risk that Europe could be dragged into its own trade war the with U.S. Germany would be particularly hard hit, with Donald Trump threatening again this week to impose levies on cars, a key part of German industry.

Germany's services PMI rose to 54.2 in January from 52.9 in December. The factory measure climbed to 45.2 from 43.7. That's still below the key 50 level, but it has gained for three of the past four months and currently stands at an 11-month high.

Forward-looking indicators also provided reasons for hope. New business across the private sector rose for the first time in seven months, while the decline in manufacturing orders eased to the least in 15 months. 

Figures earlier on Friday showed more downbeat numbers in France, where strikes hit the services sector. But that drag will probably fade, reflected in an improvement in optimism at firms.

A report for the euro area is due at 10 a.m. Frankfurt time.

Source : Bloomberg

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POPULAR NEWS
Gold futures give back most of their gain from a day earlier

Gold futures fell nearly 2% on Tuesday, with prices giving back nearly all of what they gained a day earlier. "While economic growth concerns surrounding the coronavirus were the most recent impetus supporting gold prices, there is very little reason for gold prices to move significantly lower given the current global environment," said Jeff Klearman, portfolio manager at GraniteShares. "Gold prices have benefited from three main factors, including heightened investor appetite for safe haven...

Gold futures finish lower for a second straight session

Gold futures fell on Wednesday for a second straight session, pressured on the heels of some strength in the U.S. dollar, even as concerns over the economic hit from COVID-19 remain. "It would appear that gold needs a clear sign of a pandemic and clear signs of severe global slowing to ignite a return of aggressive investment buying," said analysts at Zaner Metals, in a daily note. "The trade could be fearful about the potential for a sustained setback in Chinese physical gold...

Oil falls 3% to settle under $50 for first time in 2 weeks

Oil fell below $55 a barrel on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses. Crude fell almost 4% on Monday, with other commodities also reporting losses while U.S. and European equities suffered their steepest declines since mid-2016 on concern the coronavirus outbreak could turn into a pandemic. Brent crude fell $1.48 to trade at $54.86 per barrel. U.S. West Texas...

Gold Climbs as Trump Comments Fail to Ease Virus Fears

Gold rose for the seventh time in eight days as investors continued to weigh the impact of the coronavirus outbreak, with comments by the Trump administration failing to allay concerns about the disease. More cases were reported in countries other than China in the past 24 hours for the first time, the World Health Organization said, with new infections in nations from Pakistan to Brazil. President Donald Trump assured Americans that they face little risk, although...

Gold Advances as Virus Fears Reignite Haven Demand

Gold rebounded after the U.S. Centers for Disease Control and Prevention warned Americans to prepare for a potential coronavirus outbreak at home and the total number of cases in South Korean topped the 1,000 mark. Spot gold as much as +0.7% to $1,646.33/oz, and was at $1,643.66 at 9:18am in Singapore Metal -1.5% Tuesday after touching $1,689.31 on Monday, the highest level since 2013 Bloomberg Dollar Spot Index steady after -0.2% Tuesday Other precious metals:...

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