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POPULAR NEWS
Gold Expected To Gain Some Luster After Fed

Wall Street and Main Street both look for gold prices to rise this week, based on the weekly Kitco News gold survey. The U.S. Federal Open Market Committee meeting is widely expected to hike interest rates another 25 basis points this week. But that hasn't deterred analysts, who suggest this is already factored into prices. Eighteen market professionals took part in the Wall Street survey. Thirteen respondents, or 72%, predicted higher prices. There were two votes, or 11%, calling for lower...

Gold Drops Second Day as Trade War, Rate Hike in Focus

Gold declines for second day with trade war in focus as U.S. and China hours away from new round of tariffs on each other's goods, and as investors count down to Federal Reserve's policy-setting meeting this week. Bullion for immediate delivery lost 0.3% to $1,196.81/oz by 9:15am in Singapore; fell 0.6% Friday. Bloomberg Dollar Spot Index added 0.1% after rose 0.2% Friday. $200 billion of Chinese products will be subject to tariffs from 12 p.m. Beijing time, on top of the...

Oil Rises Near 2-Month High as OPEC Stops Short of Pledging More

Oil climbed near the highest level in more than two months as OPEC gave a tepid response to U.S. President Donald Trump's demand that it take rapid action to reduce prices, saying it would boost output only if customers requested it. Futures in New York rose as much as 1.2 percent after a 0.7 percent gain Friday. the Organization of Petroleum Exporting Countries and its allied producers stopped short of promising specific extra volumes of crude after the group™s meeting...

Aussie Falls, Asia Stocks Face Drop on Trade Woes

The Australian dollar sank and Asian stocks looked set for declines after China on Saturday called off planned trade talks with U.S. officials. The yen pared its initial advance Monday morning, with early moves lower fading for the Australian and New Zealand dollars following the latest development in the trade war. The U.S. and China are hours away from a new round of tariffs on each other™s goods. The yen rose less than 0.1 percent to 112.54 per dollar as of 7:53 a.m....

Yen Inches Up as China Cancels Trade Talks, Dollar Also Gains

The Japanese yen edged up on Monday as China cancelled its planned trade talks with the U.S. The dollar also gained following the news. Meanwhile, the U.S. tariffs on $200 billion worth of Chinese goods and retaliatory tariffs by Beijing on $60 billion worth of U.S. products are set to kick in today. The USD/JPY pair was down 0.01% to 112.56 by 11:50PM ET (03:50 GMT). The U.S. dollar index, which tracks the greenback against a basket of currencies, was up 0.06% to 93.84. The Australian...

Australia Holds Key Rate as 15th Pause Sees It Drift From Peers
Tuesday, 5 December 2017 11:13 WIB | FISCAL & MONETARY |MoneterRBA

Australia™s central bank kept its benchmark interest rate unchanged and signaled no plans to move in the near term even as developed economies shift toward withdrawing stimulus.

The Reserve Bank of Australia™s board kept the key rate at 1.5 percent for a 15th straight meeting on Tuesday that was also the last one for the year. The decision was expected by economists and markets.

œThe outlook for non-mining business investment has improved further, with the forward-looking indicators being more positive than they have been for some time, Governor Philip Lowe said in a statement following the decision. œOne continuing source of uncertainty is the outlook for household consumption. Household incomes are growing slowly and debt levels are high. He also said the economy likely grew around its œtrend rate over the year to the third quarter.

The Australian dollar edged higher, buying 76.42 US cents at 2:34 pm in Sydney compared with 76.37 cents before the statement.

Lowe has recently made clear he™s in no rush to follow the U.S., Canada and the U.K. in raising borrowing costs just yet, with some of his Asian peersforecast to follow South Korea and hike next year. The RBA™s low rates have lifted business confidence and encouraged firms to hire and invest, but households that loaded up on debt to buy property are struggling with low wage growth to meet repayments and still consume.

Since the board last convened, the Aussie dollar is little changed; third-quarter data showed wage growth remained in the doldrums; another month of strong full-time hiring saw unemployment drop to 5.4 percent, the lowest in more than four years; and iron ore, Australia™s biggest export, has climbed 20 percent from a low in late October.

Meanwhile, the International Monetary Fund last month acknowledged that tepid wage growth meant the RBA may need to extend its rate pause for another 12 months. In contrast, the Organisation for Economic Cooperation and Development urged policy makers to raise rates in the second half of 2018 as the pick up in wages and prices becomes more entrenched.

Lowe himself said two weeks ago that if the economy continues to improve as expected, the next move in rates will be up rather than down. But, he added, continued spare capacity and a subdued inflation outlook meant there isn™t a strong case for a near-term adjustment in policy.

The RBA™s 15 meetings on hold matches its previous record. Money markets see little chance of a rate increase before December 2018 and the median estimate of economists is for tightening to begin in the fourth quarter of next year. The board doesn™t convene in January, so the next meeting will be Feb. 6, 2018.

Source: Bloomberg

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POPULAR NEWS
Gold Expected To Gain Some Luster After Fed

Wall Street and Main Street both look for gold prices to rise this week, based on the weekly Kitco News gold survey. The U.S. Federal Open Market Committee meeting is widely expected to hike interest rates another 25 basis points this week. But that hasn't deterred analysts, who suggest this is already factored into prices. Eighteen market professionals took part in the Wall Street survey. Thirteen respondents, or 72%, predicted higher prices. There were two votes, or 11%, calling for lower...

Gold Drops Second Day as Trade War, Rate Hike in Focus

Gold declines for second day with trade war in focus as U.S. and China hours away from new round of tariffs on each other's goods, and as investors count down to Federal Reserve's policy-setting meeting this week. Bullion for immediate delivery lost 0.3% to $1,196.81/oz by 9:15am in Singapore; fell 0.6% Friday. Bloomberg Dollar Spot Index added 0.1% after rose 0.2% Friday. $200 billion of Chinese products will be subject to tariffs from 12 p.m. Beijing time, on top of the...

Oil Rises Near 2-Month High as OPEC Stops Short of Pledging More

Oil climbed near the highest level in more than two months as OPEC gave a tepid response to U.S. President Donald Trump's demand that it take rapid action to reduce prices, saying it would boost output only if customers requested it. Futures in New York rose as much as 1.2 percent after a 0.7 percent gain Friday. the Organization of Petroleum Exporting Countries and its allied producers stopped short of promising specific extra volumes of crude after the group™s meeting...

Aussie Falls, Asia Stocks Face Drop on Trade Woes

The Australian dollar sank and Asian stocks looked set for declines after China on Saturday called off planned trade talks with U.S. officials. The yen pared its initial advance Monday morning, with early moves lower fading for the Australian and New Zealand dollars following the latest development in the trade war. The U.S. and China are hours away from a new round of tariffs on each other™s goods. The yen rose less than 0.1 percent to 112.54 per dollar as of 7:53 a.m....

Yen Inches Up as China Cancels Trade Talks, Dollar Also Gains

The Japanese yen edged up on Monday as China cancelled its planned trade talks with the U.S. The dollar also gained following the news. Meanwhile, the U.S. tariffs on $200 billion worth of Chinese goods and retaliatory tariffs by Beijing on $60 billion worth of U.S. products are set to kick in today. The USD/JPY pair was down 0.01% to 112.56 by 11:50PM ET (03:50 GMT). The U.S. dollar index, which tracks the greenback against a basket of currencies, was up 0.06% to 93.84. The Australian...

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