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POPULAR NEWS
Gold Surges as Saudi Attack Spurs Haven Demand Ahead of Fed Meet

Gold and silver rallied after a strike against Saudi Arabian oil facilities hurt supplies and prompted a record surge in oil prices, with investors seeking haven assets at the start of a week that™ll also see critical policy decisions from central banks including the Federal Reserve. Gold jumped more than 1%, trading above $1,500 an ounce, while its cheaper sister metal climbed more than 2% as investors gauged the ramifications from the assuault against the world's biggest...

Dollar falls as oil attacks send investors to safety

The dollar fell while safe-havens and currencies of oil producing countries rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions. Oil prices surged more than 15% following the strikes on two plants, including the world's biggest petroleum processing facility in Abqaiq, knocked out more than 5% of global oil supply. Yemen's Iran-aligned Houthi group claimed responsibility for the damage, but the U.S....

Gold Prices Jump Amid Middle East Tensions; Investors Eye Central Banks Meetings

Gold Prices jumped on Monday in Asia after a strike against two Saudi Arabian oil facilities heightened tensions in the Middle East and boosted safe-haven demand. Gold Futures for delivery on the Comex exchange gained 0.8% to $1,510.95a troy ounce by 12:38 AM ET (04:38 GMT). An attack on Saudi Arabia's oil facilities on Saturday knocked out more than 5% of global oil supply, intensifying tensions in the Middle East and sent oil prices surging as much as 20%. U.S. President Donald Trump said...

Gold Rallies on Concern Saudi Attack May Presage Wider Conflict

Gold and other precious metals rallied after a strike against Saudi Arabian oil facilities raised the possibility of retaliatory U.S. military action in the Middle East. Investors are seeking haven assets at the start of a week that will also see critical policy decisions from central banks including the Federal Reserve. Gold jumped as much as 1.6% as investors gauged the ramifications from the assault against the world™s top oil exporter, and palladium hit a fresh record. Secretary...

Hong Kong stocks open in negative territory

Hong Kong stocks fell in the first few minutes of trade Monday following last week's healthy gains, while traders were also spooked by more protest violence in the city at the weekend. The Hang Seng Index eased 0.69 percent, or 189.85 points, to 27,162.84. The benchmark Shanghai Composite Index rose 0.35 percent, or 10.68 points, to 3,041.92, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.35 percent, or 5.89 points, to 1,687.12. Source : AFP

BOE Notes Rising No-Deal Brexit Risk as Rate Kept Unchanged
Thursday, 20 June 2019 18:20 WIB | FISCAL & MONETARY |BOE

The Bank of England said the perceived risk of crashing out of the European Union without a deal had risen as they unanimously voted to keep policy unchanged.

While officials, led by Governor Mark Carney, said they still see the need for interest-rate hikes in coming years if their forecasts bear out, they also acknowledged that investors are taking a different view than the bank's assumption of a smooth Brexit.

That has pushed down the pound and market expectations for future interest rates, the Monetary Policy Committee said in the minutes of its June meeting. 

The market moves œhighlighted the ongoing tension between the MPC's forecast conditioning assumption of a smooth Brexit and the assumptions about alternative Brexit scenarios that were priced into the financial market variables, the minutes said.

The BOE last month indicated that more rate hikes would be needed over the next few years to keep inflation under control, and said the market curve doesn't reflect that. Since then investors have increased bets in the other direction, with the market showing a greater likelihood of a cut rather than an increase as the next move.

That assumption about an orderly departure from the EU looks more fragile now. All the remaining candidates in the race to succeed Prime Minister Theresa May have refused to exclude the prospect of leaving without a new arrangement in place.

The panel voted 9-0 to hold the key rate at 0.75%. All 63 economists in a Bloomberg survey correctly predicted Thursday's decision. They cut their prediction for second-quarter growth to stagnation after a previous estimate of 0.2%.

The BOE reiterated its guidance for limited and gradual rate hikes in the minutes, but also joined other major central banks in recognizing the weaker global outlook. European Central Bank President Mario Draghi this week pledged new stimulus if the outlook doesn™t improve. The U.S. Federal Reserve on Wednesday opened the door to a rate cut as soon as next month.

With Brexit now delayed until Oct. 31, the BOE said it doesn't expect investment to pick up before then. It said that downside risks have increased since May, and underlying growth has weakened slightly in the first half.

Source : Bloomberg

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POPULAR NEWS
Gold Surges as Saudi Attack Spurs Haven Demand Ahead of Fed Meet

Gold and silver rallied after a strike against Saudi Arabian oil facilities hurt supplies and prompted a record surge in oil prices, with investors seeking haven assets at the start of a week that™ll also see critical policy decisions from central banks including the Federal Reserve. Gold jumped more than 1%, trading above $1,500 an ounce, while its cheaper sister metal climbed more than 2% as investors gauged the ramifications from the assuault against the world's biggest...

Dollar falls as oil attacks send investors to safety

The dollar fell while safe-havens and currencies of oil producing countries rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions. Oil prices surged more than 15% following the strikes on two plants, including the world's biggest petroleum processing facility in Abqaiq, knocked out more than 5% of global oil supply. Yemen's Iran-aligned Houthi group claimed responsibility for the damage, but the U.S....

Gold Prices Jump Amid Middle East Tensions; Investors Eye Central Banks Meetings

Gold Prices jumped on Monday in Asia after a strike against two Saudi Arabian oil facilities heightened tensions in the Middle East and boosted safe-haven demand. Gold Futures for delivery on the Comex exchange gained 0.8% to $1,510.95a troy ounce by 12:38 AM ET (04:38 GMT). An attack on Saudi Arabia's oil facilities on Saturday knocked out more than 5% of global oil supply, intensifying tensions in the Middle East and sent oil prices surging as much as 20%. U.S. President Donald Trump said...

Gold Rallies on Concern Saudi Attack May Presage Wider Conflict

Gold and other precious metals rallied after a strike against Saudi Arabian oil facilities raised the possibility of retaliatory U.S. military action in the Middle East. Investors are seeking haven assets at the start of a week that will also see critical policy decisions from central banks including the Federal Reserve. Gold jumped as much as 1.6% as investors gauged the ramifications from the assault against the world™s top oil exporter, and palladium hit a fresh record. Secretary...

Hong Kong stocks open in negative territory

Hong Kong stocks fell in the first few minutes of trade Monday following last week's healthy gains, while traders were also spooked by more protest violence in the city at the weekend. The Hang Seng Index eased 0.69 percent, or 189.85 points, to 27,162.84. The benchmark Shanghai Composite Index rose 0.35 percent, or 10.68 points, to 3,041.92, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.35 percent, or 5.89 points, to 1,687.12. Source : AFP

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