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POPULAR NEWS
Gold Steadies After Drop on Interest Rate Divergence

Gold steadies, after tumbling Friday on divergence in interest rate outlook in major economies. Bullion for immediate delivery +0.2% to $1,281.63/oz as of 9:54am in Tokyo; metal slid as much as 2.1% on Friday to low for year. Bloomberg Dollar Spot Index +0.1% after +1.4% last week, most since Nov. 2016, as Federal Reserve says it will continue gradually hiking rates while ECB rules out higher rates until 2H of 2019. Speculators choose to focus on surging dollar over...

Japan Shares Decline as Global Trade Woes Keep Investors at Bay

Japanese stocks declined as investors remained wary over the ongoing trade spat between the U.S. and China. Topix index -1% to 1,771.57 as of 9:31 a.m. in Tokyo. Nikkei 225 -0.8% to 22,680.24. Yen +0.2% at 110.47 versus dollar. Electronics makers and machinery companies weighed most heavily on the benchmark Topix gauge in early trading in Tokyo. Oil explorers also fell following a dip in global crude prices. U.S. President Donald Trump said on Friday new tariffs on Chinese imports...

Yen Gains With Dollar as Trade Tensions Buoy Havens

The yen and dollar both strengthened as escalating trade frictions between the U.S. and China spurred demand for haven assets. Japan™s currency advanced against all its 16 major peers after China responded to the U.S. putting tariffs on $50 billion of imports by placing an additional 25% levy on $34 billion of U.S. agricultural and auto exports starting July. Treasuries rose for a third day, while New Zealand™s dollarled declines in Group-of-10...

Oil Slumps Below $65 as OPEC Clash Looms, Trade War Escalates

Oil fell below $65 a barrel as Saudi Arabia and Russia prepared for a clash with allied crude producers over whether to lift output and as China and the U.S. exchanged trade threats. Futures in New York dropped as much as 1.4 percent after a 2.7 percent decline Friday. Iran says Venezuela and Iraq will join it in blocking a proposal to increase production that™s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. The Chinese...

At least 3 killed in 6.1-magnitude Japan earthquake

A strong earthquake near Osaka, Japan, early Monday morning killed at least three people and injured at least 41, the Associated Press reported, citing local authorities. The 6.1-magnitude quake hit around 8 a.m., causing moderate damage, though some building were reported to be partially collapsed. No tsunami warning was issued. The Japan Times reported that nearby nuclear plants were undamaged, but bullet train lines and some freeways were shut down as a precaution, and nearly 180,000...

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 Steadies After Drop on Interest Rate Divergence

Gold steadies, after tumbling Friday on divergence in interest rate outlook in major economies. Bullion for immediate delivery +0.2% to $1,281.63/oz as of 9:54am in Tokyo; metal slid as much as 2.1% on Friday to low for year. Bloomberg Dollar Spot Index +0.1% after +1.4% last week, most since Nov. 2016, as Federal Reserve says it will continue gradually hiking rates while ECB rules out higher rates until 2H of 2019. Speculators choose to focus on surging dollar over...

Japan Shares Decline as Global Trade Woes Keep Investors at Bay

Japanese stocks declined as investors remained wary over the ongoing trade spat between the U.S. and China. Topix index -1% to 1,771.57 as of 9:31 a.m. in Tokyo. Nikkei 225 -0.8% to 22,680.24. Yen +0.2% at 110.47 versus dollar. Electronics makers and machinery companies weighed most heavily on the benchmark Topix gauge in early trading in Tokyo. Oil explorers also fell following a dip in global crude prices. U.S. President Donald Trump said on Friday new tariffs on Chinese imports...

Yen Gains With Dollar as Trade Tensions Buoy Havens

The yen and dollar both strengthened as escalating trade frictions between the U.S. and China spurred demand for haven assets. Japan™s currency advanced against all its 16 major peers after China responded to the U.S. putting tariffs on $50 billion of imports by placing an additional 25% levy on $34 billion of U.S. agricultural and auto exports starting July. Treasuries rose for a third day, while New Zealand™s dollarled declines in Group-of-10...

Oil Slumps Below $65 as OPEC Clash Looms, Trade War Escalates

Oil fell below $65 a barrel as Saudi Arabia and Russia prepared for a clash with allied crude producers over whether to lift output and as China and the U.S. exchanged trade threats. Futures in New York dropped as much as 1.4 percent after a 2.7 percent decline Friday. Iran says Venezuela and Iraq will join it in blocking a proposal to increase production that™s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week. The Chinese...

At least 3 killed in 6.1-magnitude Japan earthquake

A strong earthquake near Osaka, Japan, early Monday morning killed at least three people and injured at least 41, the Associated Press reported, citing local authorities. The 6.1-magnitude quake hit around 8 a.m., causing moderate damage, though some building were reported to be partially collapsed. No tsunami warning was issued. The Japan Times reported that nearby nuclear plants were undamaged, but bullet train lines and some freeways were shut down as a precaution, and nearly 180,000...

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