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POPULAR NEWS
Gold Pares Weekly Gain After Kudlow's Comments on Deal

Gold declined, trimming its fourth weekly gain in five, after White House economic adviser Larry Kudlow signaled progress on a trade deal with China. Spot gold as much as -0.3% to $1,466.90/oz and traded at $1,468.50 at 9:56am in Singapore; +0.6% this week. Bloomberg Dollar Spot Index -0.1%. Other precious metals: Spot silver -0.2% to $16.9965/oz. Palladium +0.1% to $1,741.21/oz. Platinum +0.2% to $882.52/oz. Source: Bloomberg

Hong Kong Stocks Close Flat, Ending Tough Week

Hong Kong shares finished barely moved Friday, bringing an end to a tumultuous week that has seen the city crippled by violent protests, which show no sign of abating. The Hang Seng Index inched up 2.97 points to 26,326.66. The benchmark Shanghai Composite Index lost 0.64 percent, or 18.53 points, to 2,891.34 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dived 1.13 percent, or 18.43 points, to 1,605.70. Source : AFP

Dollar Flat After Powell Plays Down Further Cuts

The dollar was mostly flat in early trade in Europe on Friday amid a lull in news ahead of more U.S. economic data later in the day. The greenback is on course for a modest loss of around 0.2% this week, drifting as the world waits for China and the U.S. tie up an elusive trade truce. The threat of a Chinese crackdown on unrest in Hong Kong is also keeping markets on edge. President Xi Jinping urged the city™s chief executive Carrie Lam to clamp down on protests on late on Thursday, urging...

Dollar buoyed by caution as trade deal optimism wanes

The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-U.S. trade truce put investors in a risk-averse mood. The dollar clawed back some of the ground it gave to the safe-haven yen overnight, rising 0.1% to buy 108.55 yen, and kept hold of overnight gains against the Australian and New Zealand dollars. Against a basket of currencies, the dollar last traded at 98.163. The euro was stable at $1.1020. Moves were slight as...

Topix Extends Gain After Kudlow Remark on U.S.-China Trade Talks

Japan's Topix extended its advance following remarks from White House economic adviser Larry Kudlow that negotiations over a trade deal with China were coming down to the final stages. Electronics makers and service-sector companies propelled gains in the benchmark, rebounding from its biggest two-day decline in six weeks. The Nikkei 225 Stock Average also rose after fluctuating in early trading. Topix +0.8% to 1,697.83 at the trading break in Tokyo. Gauge -0.9% on Thursday, extending...

Powell Signals Openness to Cut Rates If Needed on Trade Tension
Tuesday, 4 June 2019 23:17 WIB | FISCAL & MONETARY |Federal ReserveThe Fed

Federal Reserve Chairman Jerome Powell signaled an openness to cut interest rates if necessary, pledging to keep a close watch on fallout from a deepening set of disputes between the U.S. and its largest trading partners.

Referring to œtrade negotiations and other matters, Powell said that œwe do not know how or when these issues will be resolved, according to the text of a speech he™s set to deliver Tuesday in Chicago.

œWe are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2% objective, Powell said in opening remarks at a conference at the Chicago Fed.

Investors have aggressively increased bets the Fed will cut interest rates this year after President Donald Trump widened ongoing trade tensions when he threatened last week to slap new tariffs on Mexico unless it stemmed migrant flows to the U.S. The yield on 10-year U.S. Treasuries Monday fell below 2.1%, the lowest since September 2017.

Powell™s speech was dedicated mostly to the Fed™s yearlong goal of reviewing its monetary policy strategies, tools and communication practices.

œWith the economy growing, unemployment low, and inflation low and stable, this is the right time to engage the public broadly on these topics, Powell said.

Source : Bloomberg

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POPULAR NEWS
Gold Pares Weekly Gain After Kudlow's Comments on Deal

Gold declined, trimming its fourth weekly gain in five, after White House economic adviser Larry Kudlow signaled progress on a trade deal with China. Spot gold as much as -0.3% to $1,466.90/oz and traded at $1,468.50 at 9:56am in Singapore; +0.6% this week. Bloomberg Dollar Spot Index -0.1%. Other precious metals: Spot silver -0.2% to $16.9965/oz. Palladium +0.1% to $1,741.21/oz. Platinum +0.2% to $882.52/oz. Source: Bloomberg

Hong Kong Stocks Close Flat, Ending Tough Week

Hong Kong shares finished barely moved Friday, bringing an end to a tumultuous week that has seen the city crippled by violent protests, which show no sign of abating. The Hang Seng Index inched up 2.97 points to 26,326.66. The benchmark Shanghai Composite Index lost 0.64 percent, or 18.53 points, to 2,891.34 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, dived 1.13 percent, or 18.43 points, to 1,605.70. Source : AFP

Dollar Flat After Powell Plays Down Further Cuts

The dollar was mostly flat in early trade in Europe on Friday amid a lull in news ahead of more U.S. economic data later in the day. The greenback is on course for a modest loss of around 0.2% this week, drifting as the world waits for China and the U.S. tie up an elusive trade truce. The threat of a Chinese crackdown on unrest in Hong Kong is also keeping markets on edge. President Xi Jinping urged the city™s chief executive Carrie Lam to clamp down on protests on late on Thursday, urging...

Dollar buoyed by caution as trade deal optimism wanes

The dollar found broad support on Friday as fresh signs of a global economic slowdown and little visible progress toward a Sino-U.S. trade truce put investors in a risk-averse mood. The dollar clawed back some of the ground it gave to the safe-haven yen overnight, rising 0.1% to buy 108.55 yen, and kept hold of overnight gains against the Australian and New Zealand dollars. Against a basket of currencies, the dollar last traded at 98.163. The euro was stable at $1.1020. Moves were slight as...

Topix Extends Gain After Kudlow Remark on U.S.-China Trade Talks

Japan's Topix extended its advance following remarks from White House economic adviser Larry Kudlow that negotiations over a trade deal with China were coming down to the final stages. Electronics makers and service-sector companies propelled gains in the benchmark, rebounding from its biggest two-day decline in six weeks. The Nikkei 225 Stock Average also rose after fluctuating in early trading. Topix +0.8% to 1,697.83 at the trading break in Tokyo. Gauge -0.9% on Thursday, extending...

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