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POPULAR NEWS
Gold Edges Up On Chinese Worry Over Trump Impeachment

Gold was back on track to being a hedge to the trade war on Monday after talk of Beijing™s anxiety over President Donald Trump™s impeachment proceedings pricked the prospective U.S.-China trade bubble. Both bullion and futures of gold recovered from their Friday dip to attempt a return to the $1,480 mark and the bigger $1,500 target as a risk-off mode prevailed across markets. Wall Street indices, however, set new highs after the Trump administration granted a 90-day extension for U.S....

Gold Steady With Trade Developments, ETFs in Focus

Gold was little changed after a narrow weekly advance as investors awaited fresh developments on the trade front and weighed data that showed a drop in holdings in bullion-backed exchange-traded funds. U.S. and Chinese negotiators held œconstructive discussions in a call on Saturday to address each side's core concerns in phase one of a deal. That came after President Donald Trump™s administration signaled talks with China over the first phase of a broad agreement are...

Asia stocks mixed as investors watch for US-China trade updates

Stocks in Asia traded mixed on Monday morning as investors look for further developments on U.S.-China trade. Overall, the MSCI Asia ex-Japan index traded 0.05% lower. In Japan, the Nikkei 225 rose fractionally in early trade while the Topix index was largely flat. South Korea™s Kospi slipped 0.13%. Shares in Australia edged lower in morning trade, with the S&P/ASX 200 down about 0.4% as most of the sectors slipped. Investors will continue to monitor developments on U.S.-China trade....

Tokyo shares open lower with eyes on US-China talks, forex

Tokyo stocks opened slightly lower on Monday with investors watching the forex market and US-China trade talks. The benchmark Nikkei 225 index fell 0.04 percent or 8.70 points to 23,294.62, while the broader Topix index lost 0.10 percent or 1.63 points to 1,695.04. Source : AFP

Hong Kong stocks start week with gains (Review)

Hong Kong stocks rose more than one percent Monday, staging a rebound after losing around five percent last week, with trade optimism trumping worries about violent protests in the city. The Hang Seng index jumped 1.35 percent, or 354.43 points, to 26,681.09. The benchmark Shanghai Composite Index rose 0.62 percent, or 17.86 points, to 2,909.20, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.72 percent, or 11.49 points, to 1,617.19. Source : AFP

Fed Holds Interest Rates Steady as Economy Grows at 'Solid Rate' and Inflation Stays Low
Thursday, 2 May 2019 06:44 WIB | FISCAL & MONETARY |Federal ReserveFOMCThe Fed

The Federal Reserve on Wednesday left unchanged a key U.S. interest rate that influences the cost of borrowing for mortgages and all sorts of consumer and business loans, noting a recent decline in inflation even as the economy continues to grow "at a solid rate."

In a unanimous vote, the Fed kept its benchmark interest rate in a range of 2.25% to 2.5%. Senior officials sounded more upbeat about the economy after a slow start in early 2019 and pointed to a recent decline in inflation as reasons to stand pat.

The government said last week GDP rose a surprisingly robust 3.2% in the first quarter. And on Monday, fresh data showed that core inflation as measured by the personal consumption expenditure price index fell to 1.6% in March ” a 19-month low.

œI see us on a good path, Fed Chairman Jerome Powell said in a press conference after the latest two-day meeting, at which senior central-bank officials evaluated the health of the economy.

The Fed acknowledged both overall and core inflation œhave declined and are running below the central bank™s 2% target, but Powell said there™s reason to believe the slackening in prices pressures is œtransient.

The Dow Jones Industrial Average and S&P 500 ended the trading session lower, having turned down during Powell™s press conference. Investors viewed Powell™s comments on the temporary nature of the weakness of core inflation as hawkish.

In other words, the Fed took away hopes of an early rate cut as the central bank expects core inflation to creep up again soon, and sees no reason to alter its self-described œpatient approach to interest rates. The Fed signaled in March that it™s done raising interest rates this year ” so long as inflation remains low.

œStronger growth but weaker inflation equaled a still-patient Fed, said economist Andrew Grantham of CIBC World Markets.

Powell also downplayed the weak ISM manufacturing index, which in April fell to its slowest pace since October 2016.

œWe see that reading as, it™s still a positive reading and consistent with what we expect from the manufacturing sector, which is moderate or perhaps modest growth, Powell said.

In a move important to Wall Street but of little consequence to Main Street, the Fed trimmed the interest rate it pays to banks that keep excess reserves at the central bank to 2.35% to 2.4%.

œThis is a technical adjustment, meant to push the effective federal funds rate back toward the middle of the target range ” not a change in the monetary policy stance, said chief economist Scott Brown of Raymond James.

Investors aren™t fully convinced, though. Wall Street expects the Fed to cut rates by the end of the year, according to the CME Group™s FedWatch tool.

The reduction in the rate on so-called excess reserves known as the IOER, meanwhile, is intended to foster trading in the fed funds market at rates well within the committee™s target range, the Fed said. Recently the effective federal funds rate has drifted again above the IOER rate.

Source : Marketwatch

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The minutes from the RBA Board's 5th November meeting have been released which shows the RBA has an easing bias. AUD/USD is lower on the minutes, down -0.20% at the time of writing. Bored prepared to...

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POPULAR NEWS
Gold Edges Up On Chinese Worry Over Trump Impeachment

Gold was back on track to being a hedge to the trade war on Monday after talk of Beijing™s anxiety over President Donald Trump™s impeachment proceedings pricked the prospective U.S.-China trade bubble. Both bullion and futures of gold recovered from their Friday dip to attempt a return to the $1,480 mark and the bigger $1,500 target as a risk-off mode prevailed across markets. Wall Street indices, however, set new highs after the Trump administration granted a 90-day extension for U.S....

Gold Steady With Trade Developments, ETFs in Focus

Gold was little changed after a narrow weekly advance as investors awaited fresh developments on the trade front and weighed data that showed a drop in holdings in bullion-backed exchange-traded funds. U.S. and Chinese negotiators held œconstructive discussions in a call on Saturday to address each side's core concerns in phase one of a deal. That came after President Donald Trump™s administration signaled talks with China over the first phase of a broad agreement are...

Asia stocks mixed as investors watch for US-China trade updates

Stocks in Asia traded mixed on Monday morning as investors look for further developments on U.S.-China trade. Overall, the MSCI Asia ex-Japan index traded 0.05% lower. In Japan, the Nikkei 225 rose fractionally in early trade while the Topix index was largely flat. South Korea™s Kospi slipped 0.13%. Shares in Australia edged lower in morning trade, with the S&P/ASX 200 down about 0.4% as most of the sectors slipped. Investors will continue to monitor developments on U.S.-China trade....

Tokyo shares open lower with eyes on US-China talks, forex

Tokyo stocks opened slightly lower on Monday with investors watching the forex market and US-China trade talks. The benchmark Nikkei 225 index fell 0.04 percent or 8.70 points to 23,294.62, while the broader Topix index lost 0.10 percent or 1.63 points to 1,695.04. Source : AFP

Hong Kong stocks start week with gains (Review)

Hong Kong stocks rose more than one percent Monday, staging a rebound after losing around five percent last week, with trade optimism trumping worries about violent protests in the city. The Hang Seng index jumped 1.35 percent, or 354.43 points, to 26,681.09. The benchmark Shanghai Composite Index rose 0.62 percent, or 17.86 points, to 2,909.20, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.72 percent, or 11.49 points, to 1,617.19. Source : AFP

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