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POPULAR NEWS
Gold prices settle up by more than 1% for the week; palladium futures log another record

Gold prices climbed Friday to tally a 1.2% gain for the week. U.S. and European benchmark stock indexes declined and the dollar fell for the week, providing a boost to prices of the yellow metal. December gold climbed by $8, or 0.7%, to settle at $1,223 an ounce. Palladium futures, meanwhile, settled at another record on expectations for much stronger demand. R. Michael Jones, chief executive officer of Platinum Group Metals Ltd. December palladium added $17.20, or 1.5%, to finish at...

Stocks Turn Lower as Retail Drop Offsets Utilities

U.S. equity indexes fluctuated as a plunge in retail and technology stocks was partly offset by energy and utility gains. Treasuries climbed and the dollar retreated. The S&P 500 Index fell 0.2 percent as of 11:46 a.m. New York time.The S&P 500 Index turned lower as department-store chain Nordstrom Inc. declined on disappointing results, following letdowns from Macy™s Inc. and Dillard™s Inc. At the same time, California utilities PG&E Corp. and Edison International began to...

European stocks dragged lower by tech, Brexit concerns

European markets struggled Friday, finishing in the red and with chunky weekly losses, as concerns about the U.K.™s Brexit deal again hit top banks, and chip makers were dented after Nvidia Corp. warned on weaker sales ahead. The Stoxx Europe 600 closed 0.2% lower at 357.71, bringing the week™s losses to 2.2%. The French CAC 40 ended down 0.2% at 5,025.20, with a weekly slip of 1.6%, while Germany™s DAX 30 wrapped up the day off 0.1% at 11,341. The U.K.™s FTSE 100 dipped 0.3% to...

Hong Kong Shares Close Week on Positive Note (Review)

Hong Kong stocks finished the week with gains Friday, tracking a positive lead from Wall Street with energy firms supported by an uptick in oil prices. The Hang Seng Index rose 0.31 percent, or 80.19 points, to close at 26,183.53. The benchmark Shanghai Composite Index closed 0.41 percent, or 10.94 points higher at 2,679.11, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.84 percent, or 11.78 points, to finish at 1,410.18.

Dollar Falls as Fed's Clarida Says Interest Rates Near Neutral

The dollar fell on Friday after Richard Clarida, vice chairman of the Federal Reserve, said that interest rates were near neutral, but indicated that a December rate hike is still possible. The U.S. dollar index, which measures the greenback™s strength against a basket of six major currencies, fell 0.46% to 96.35, as of 10:17 AM ET (15:17 GMT). The dollar was lower against the safe-heaven Japanese yen, with USD/JPY falling 0.76% to 112.78 In times of uncertainty, investors tend to invest...

Draghi Sees Inflation Optimism in Recovery But Euro a Worry
Thursday, 25 January 2018 21:47 WIB | FISCAL & MONETARY |Bank Sentral Eropa ECBMario Draghi

Mario Draghi expressed renewed conviction that the euro area™s recovery will revive inflation, pushing the euro to the highest in more than three years despite his concurrent warning against sharp moves in the exchange rate.

Improving economic momentum has œstrengthened further our confidence that inflation will converge to close to but below 2 percent, the European Central Bank president told reporters in Frankfurt on Thursday, adding that domestic price pressures remain muted. œAgainst this background, recent volatility in the exchange rate represents a source of uncertainty which requires monitoring with regard to its possible implications for the medium term outlook of price stability.

The euro jumped as much as 1 percent to the strongest level since late 2014, and was up 0.7 percent at $1.2490 at 3:20 p.m. Frankfurt time. It came off its highs after Draghi said he sees œvery few chances that interest rates will be raised this year, as some market pricing has suggested.

Those gains have triggered concern that the downward pressure on prices could complicate the ECB™s gradual exit from extraordinary stimulus. Policy makers decided last year to reduce the amount of additional stimulus they pump into the euro-area economy as of this month, but also stressed that their inflation goal remains out of sight until at least 2020.

Draghi said that an ample degree of stimulus remains necessary for underlying price pressures to converge with the ECB™s aim, but pointed to the variety of its stimulus tools that will help in achieving that.

œThis continued monetary support is provided by net asset purchases, by the sizable stock of acquired assets, and the forthcoming reinvestments and by our forward guidance on interest rates, he said.

The ECB earlier reiterated its plan to continue buying 30 billion euros ($37 billion) of assets a month until at least the end of September, while keeping interest rates unchanged.

Source : Bloomberg

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POPULAR NEWS
Gold prices settle up by more than 1% for the week; palladium futures log another record

Gold prices climbed Friday to tally a 1.2% gain for the week. U.S. and European benchmark stock indexes declined and the dollar fell for the week, providing a boost to prices of the yellow metal. December gold climbed by $8, or 0.7%, to settle at $1,223 an ounce. Palladium futures, meanwhile, settled at another record on expectations for much stronger demand. R. Michael Jones, chief executive officer of Platinum Group Metals Ltd. December palladium added $17.20, or 1.5%, to finish at...

Stocks Turn Lower as Retail Drop Offsets Utilities

U.S. equity indexes fluctuated as a plunge in retail and technology stocks was partly offset by energy and utility gains. Treasuries climbed and the dollar retreated. The S&P 500 Index fell 0.2 percent as of 11:46 a.m. New York time.The S&P 500 Index turned lower as department-store chain Nordstrom Inc. declined on disappointing results, following letdowns from Macy™s Inc. and Dillard™s Inc. At the same time, California utilities PG&E Corp. and Edison International began to...

European stocks dragged lower by tech, Brexit concerns

European markets struggled Friday, finishing in the red and with chunky weekly losses, as concerns about the U.K.™s Brexit deal again hit top banks, and chip makers were dented after Nvidia Corp. warned on weaker sales ahead. The Stoxx Europe 600 closed 0.2% lower at 357.71, bringing the week™s losses to 2.2%. The French CAC 40 ended down 0.2% at 5,025.20, with a weekly slip of 1.6%, while Germany™s DAX 30 wrapped up the day off 0.1% at 11,341. The U.K.™s FTSE 100 dipped 0.3% to...

Hong Kong Shares Close Week on Positive Note (Review)

Hong Kong stocks finished the week with gains Friday, tracking a positive lead from Wall Street with energy firms supported by an uptick in oil prices. The Hang Seng Index rose 0.31 percent, or 80.19 points, to close at 26,183.53. The benchmark Shanghai Composite Index closed 0.41 percent, or 10.94 points higher at 2,679.11, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.84 percent, or 11.78 points, to finish at 1,410.18.

Dollar Falls as Fed's Clarida Says Interest Rates Near Neutral

The dollar fell on Friday after Richard Clarida, vice chairman of the Federal Reserve, said that interest rates were near neutral, but indicated that a December rate hike is still possible. The U.S. dollar index, which measures the greenback™s strength against a basket of six major currencies, fell 0.46% to 96.35, as of 10:17 AM ET (15:17 GMT). The dollar was lower against the safe-heaven Japanese yen, with USD/JPY falling 0.76% to 112.78 In times of uncertainty, investors tend to invest...

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