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POPULAR NEWS
Gold Prices Settle Slightly Lower, Then Extend Losses After Fed Meeting Minutes

Gold prices gave up the bulk of their losses on Wednesday to finish just a dime lower, finding support after Reuters reported that phase one of a U.S.-China trade deal might not be reached this year. That lifted haven demand for the precious metal. Prices then moved even lower as minutes from the Federal Reserve™s October meeting, released after the gold price settlement, showed that Fed officials were more optimistic about the economic outlook and were against using negative rates in the...

Gold Gains as Souring US-China Relations Dent Risk Appetite

Gold prices rose to their highest in nearly two weeks on Wednesday as U.S. Senate measures on Hong Kong posed a potential roadblock for a trade deal between the United States and China, denting appeal for riskier assets. Spot gold was up 0.3% at $1,476.50 an ounce and U.S. gold futures rose 0.2% to $1,477. The U.S. Senate passed two bills backing human rights in Hong Kong and banning export of certain munitions to the region™s police forces. China condemned the move and called for...

Gold Steady Amid U.S.-China Tension Before Fed Minutes

Gold was steady as investors weighed latest developments on the trade front ahead of the release of minutes from the last Federal Reserve meeting later Wednesday. The U.S. Senate unanimously passed a bill Tuesday aimed at supporting protesters in Hong Kong and warning China against a violent suppression of the demonstrations, drawing a rebuke from authorities in Beijing and potentially complicating trade talks between the two countries. China on Wednesday reiterated a threat to...

U.S. Dollar Flat as Tensions With China Rise Over Hong Kong

The U.S. dollar was flat on Wednesday ahead of the expected release of the Federal Reserve meeting minutes and as tensions between Washington and Beijing rose. China took offense to the U.S. Senate passing legislation that backed Hong Kong protesters and would ban the export of items like tear gas and rubber bullets to the city's police force, as conflict between the two sides escalated this week. The news added to jitters after U.S. President Donald Trump reiterated that he would raise...

Hong Kong stocks end with another strong rally

Hong Kong stocks enjoyed another big rally Tuesday as investors remain confident of a China-US trade deal, while the protests that hammered the city last week show signs of subsiding. The Hang Seng index climbed 1.55 percent, or 412.71 points, to 27,093.80, having jumped 1.35 percent on Monday. The benchmark Shanghai Composite Index rose 0.85 percent, or 24.79 points, to 2,933.99 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 1.83 percent, or 29.61...

Dollar Pushes Higher as Markets Dial Back Fed Rate Cut Bets
Wednesday, 26 June 2019 15:50 WIB | CURRENCIES |DOLLAR

The U.S. dollar edged higher on Wednesday, pulling away from a three month low as markets dialed back expectations for aggressive interest rate cuts by the Federal Reserve next month, but expectations for some monetary easing checked the currency™s gains.

Expectations for a half percentage point cut at the Fed™s July meeting receded after St. Louis Fed President James Bullard said Tuesday that such a move "would be overdone".

Separately, Fed Chairman Jerome Powell said the central bank is "insulated from short-term political pressures," pushing back against U.S. President Donald Trump's demands for a significant rate cut.

The comments tempered expectations for aggressive easing, but investors are still expecting at a quarter percentage point cut next month.

The U.S. dollar index against a basket of currencies edged up to 95.75 by 02:44 AM ET (06:44 GMT) on Wednesday, off a three-month low of 95.36 reached on Tuesday.

The dollar pushed higher against the yen, but remained within striking distance of five-month lows as heightened tensions between the U.S. and Iran underpinned demand for safe-haven currencies.

However, trading is likely to subdued as the focus shifts to a meeting between Trump and Chinese President Xi Jinping at a Group of 20 summit over the weekend, but expectations are low for a breakthrough that would end the dispute between the world™s two-largest economies.

œPowell is worried about curbing excess expectations, but Treasury yields are clearly heading lower and U.S. economic data are not looking great. A rate cut in July is a done deal.

The U.S. currency was up 0.2% at 107.38 yen after falling to 106.79 on Tuesday, its lowest since its flash crash in early January.

The euro was little changed against the dollar at 1.1356, rowing back slightly from Tuesday™s three-month high of 1.141.

The British pound was down 0.2% at 1.2669 before the Bank of England publishes its closely-watched quarterly inflation forecasts later on Wednesday.

Source : Investing.com

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POPULAR NEWS
Gold Prices Settle Slightly Lower, Then Extend Losses After Fed Meeting Minutes

Gold prices gave up the bulk of their losses on Wednesday to finish just a dime lower, finding support after Reuters reported that phase one of a U.S.-China trade deal might not be reached this year. That lifted haven demand for the precious metal. Prices then moved even lower as minutes from the Federal Reserve™s October meeting, released after the gold price settlement, showed that Fed officials were more optimistic about the economic outlook and were against using negative rates in the...

Gold Gains as Souring US-China Relations Dent Risk Appetite

Gold prices rose to their highest in nearly two weeks on Wednesday as U.S. Senate measures on Hong Kong posed a potential roadblock for a trade deal between the United States and China, denting appeal for riskier assets. Spot gold was up 0.3% at $1,476.50 an ounce and U.S. gold futures rose 0.2% to $1,477. The U.S. Senate passed two bills backing human rights in Hong Kong and banning export of certain munitions to the region™s police forces. China condemned the move and called for...

Gold Steady Amid U.S.-China Tension Before Fed Minutes

Gold was steady as investors weighed latest developments on the trade front ahead of the release of minutes from the last Federal Reserve meeting later Wednesday. The U.S. Senate unanimously passed a bill Tuesday aimed at supporting protesters in Hong Kong and warning China against a violent suppression of the demonstrations, drawing a rebuke from authorities in Beijing and potentially complicating trade talks between the two countries. China on Wednesday reiterated a threat to...

U.S. Dollar Flat as Tensions With China Rise Over Hong Kong

The U.S. dollar was flat on Wednesday ahead of the expected release of the Federal Reserve meeting minutes and as tensions between Washington and Beijing rose. China took offense to the U.S. Senate passing legislation that backed Hong Kong protesters and would ban the export of items like tear gas and rubber bullets to the city's police force, as conflict between the two sides escalated this week. The news added to jitters after U.S. President Donald Trump reiterated that he would raise...

Hong Kong stocks end with another strong rally

Hong Kong stocks enjoyed another big rally Tuesday as investors remain confident of a China-US trade deal, while the protests that hammered the city last week show signs of subsiding. The Hang Seng index climbed 1.55 percent, or 412.71 points, to 27,093.80, having jumped 1.35 percent on Monday. The benchmark Shanghai Composite Index rose 0.85 percent, or 24.79 points, to 2,933.99 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 1.83 percent, or 29.61...

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