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POPULAR NEWS
Gold Prices Pare Losses, But Still End at a 1-Year Low

Gold futures gave up much of their declines Thursday, but still finished at their lowest in about a year. President Donald Trump voiced his disagreement with the Federal Reserve's plan for gradual increases in interest rates, prompting a decline in the benchmark dollar index which, in turn, helped to lift gold off the lows of the session. August gold settled at $1,224 an ounce, down $3.90, or 0.3%, for the session. The settlement marked gold's entry into correction territory - down more than...

Dollar on defensive against yen, euro after Trump comments

The dollar was on the defensive against the yen and euro early Friday after U.S. President Donald Trump expressed concern about the currency's strength and the Federal Reserve's interest rate increases. Trump said in an interview with CNBC on Thursday that a strong dollar puts the United States at a disadvantage, adding that the Chinese yuan œwas dropping like a rock. A strong currency tends to make a country™s exports more expensive. Trump also showed displeasure about the Fed™s...

Gold Heads for Weekly Decline as Rate Outlook in Focus

Gold drops to trade near lowest in a year as investors weigh Federal Reserve Chairman Jerome Powell's comments on interest rate outlook, as well as President Donald Trump's intervention that he's 'not thrilled' at Fed's tightening trajectory. Bullion for immediate delivery slipped 0.5% at $1,216.78/oz at 9:47am in Singapore, after hitting $1,211.63 on Thursday, lowest since July 2017: Bloomberg generic pricing. That metal lost 2.2% this week to head for fifth weekly...

Dollar index turns negative after Trump say's he's not 'thrilled' with Feds' rate hikes

The U.S. dollar turned negative versus its main rivals on Thursday after President Donald Trump said he disagreed with the Federal Reserve's strategy to gradually hike interest rates. Trump told CNBC during an interview on Thursday that he isn't "thrilled" that the Federal Reserve is hiking interest rates. An excerpt of the the interview, which is slated to air early Friday, was released midday Thursday. "Because we go up and every time you go up they want to raise rates again. I don't really...

EU Preparing to Strike Back if Trump Slaps Tariffs on Foreign Cars

European Union Trade Commissioner Cecilia Malmstrom says the 28-nation bloc is preparing to retaliate against the United States if President Donald Trump imposes tariffs on foreign autos and car parts. Trump slapped tariffs on EU steel and aluminum on June 1, which the EU responded to with duties on U.S. products, and is threatening to extend them to the automotive industry. Malmstrom said at a Brussels news conference hosted by the German Marshall Fund the European Union is compiling "a...

Draghi Says ECB Will Still Be Short of Inflation Goal by 2020
Thursday, 14 December 2017 21:34 WIB | FISCAL & MONETARY | ECBMario Draghi

Mario Draghi stopped short of declaring that the European Central Bank will meet its inflation goal in 2020, signaling that the euro-area economy isn't yet strong enough to warrant weaning off monetary stimulus.

The ECB president unveiled updated economic projections that showed stronger growth over the next three years but only slowly improving consumer-price gains. Inflation will average 1.7 percent in 2020, below the goal of just under 2 percent. Policy makers earlier kept interest rates and their quantitative-easing settings unchanged.

The Governing Council™s discussion œreflected the increasing confidence that we have in the convergence of inflation towards a self-sustained path in the medium term, Draghi said in a press conference on Thursday, adding that an œample degree of stimulus is still needed. œDomestic price pressures remain muted overall and have yet to show convincing signs of a sustained upward trend.

The ECB chief™s caution comes amid a spate of central-bank decisions in the past 24 hours that signaled tighter global monetary policies ahead. The U.S. Federal Reserve announced its third interest-rate increase of the year, China unexpectedly edged borrowing costs higher, and Norway™s central bank signaled that it may start raising interest rates earlier than previously.

The Swiss National Bank predicted inflation will exceed its mandate in late 2020, though said it won™t rush to raise rates. The Bank of England, which increased rates last month for the first time in a decade, kept policy on hold in London.

Draghi said the strong cyclical momentum could lead to further positive growth surprises in near term. Downside risks were mostly related global factors, he said.

The Governing Council will halve asset purchases to 30 billion euros ($35 billion) a month starting in January and continue for at least nine months until the end of September. It promised to increase or extend buying if the outlook for inflation worsens, and expects to keep interest rates unchanged until well past the end of net asset purchases. It will also reinvest the proceeds from maturing debt holdings for as long as necessary.

Source: Bloomberg

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POPULAR NEWS
Gold Prices Pare Losses, But Still End at a 1-Year Low

Gold futures gave up much of their declines Thursday, but still finished at their lowest in about a year. President Donald Trump voiced his disagreement with the Federal Reserve's plan for gradual increases in interest rates, prompting a decline in the benchmark dollar index which, in turn, helped to lift gold off the lows of the session. August gold settled at $1,224 an ounce, down $3.90, or 0.3%, for the session. The settlement marked gold's entry into correction territory - down more than...

Dollar on defensive against yen, euro after Trump comments

The dollar was on the defensive against the yen and euro early Friday after U.S. President Donald Trump expressed concern about the currency's strength and the Federal Reserve's interest rate increases. Trump said in an interview with CNBC on Thursday that a strong dollar puts the United States at a disadvantage, adding that the Chinese yuan œwas dropping like a rock. A strong currency tends to make a country™s exports more expensive. Trump also showed displeasure about the Fed™s...

Gold Heads for Weekly Decline as Rate Outlook in Focus

Gold drops to trade near lowest in a year as investors weigh Federal Reserve Chairman Jerome Powell's comments on interest rate outlook, as well as President Donald Trump's intervention that he's 'not thrilled' at Fed's tightening trajectory. Bullion for immediate delivery slipped 0.5% at $1,216.78/oz at 9:47am in Singapore, after hitting $1,211.63 on Thursday, lowest since July 2017: Bloomberg generic pricing. That metal lost 2.2% this week to head for fifth weekly...

Dollar index turns negative after Trump say's he's not 'thrilled' with Feds' rate hikes

The U.S. dollar turned negative versus its main rivals on Thursday after President Donald Trump said he disagreed with the Federal Reserve's strategy to gradually hike interest rates. Trump told CNBC during an interview on Thursday that he isn't "thrilled" that the Federal Reserve is hiking interest rates. An excerpt of the the interview, which is slated to air early Friday, was released midday Thursday. "Because we go up and every time you go up they want to raise rates again. I don't really...

EU Preparing to Strike Back if Trump Slaps Tariffs on Foreign Cars

European Union Trade Commissioner Cecilia Malmstrom says the 28-nation bloc is preparing to retaliate against the United States if President Donald Trump imposes tariffs on foreign autos and car parts. Trump slapped tariffs on EU steel and aluminum on June 1, which the EU responded to with duties on U.S. products, and is threatening to extend them to the automotive industry. Malmstrom said at a Brussels news conference hosted by the German Marshall Fund the European Union is compiling "a...

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