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POPULAR NEWS
Gold prices rise on weaker dollar as traders weigh progress on U.S.-China trade

Gold prices climbed Friday, buoyed by weakness in the dollar and a fall in bond yields, as traders struggled to sort out news that China has agreed to the text of a phase one trade deal with United States. Against that backdrop, February gold rose $3.70, or 0.3%, at $1,476 an ounce, set to more than recover its loss from Thursday. March silver meanwhile, shed 1.9 cents, or 0.1%, to $16.93 an ounce, after four consecutive sessions of gains. Among other metals on Comex, March copper fell 0.5%...

Dollar Hits Lowest Since July as Havens Retreat, Pound Rallies

The Bloomberg Dollar Spot Index drops a second week as riskier assets gain after U.S.-China agree on a phase-one trade deal and the U.K.™s Conservative Party wins a crushing majority in Thursday™s election. USD/JPY up 0.3% to 109.63 GBP/USD rallies by 2.7% to 1.3514, strongest since May 2018 before paring the advance; flows are nearly 10 times the average for the past month, as they now come two-way with a slight preference to fade dips, according to two traders in...

Gold Fails to Crumble as Trade Deal Hit Meets Dollar's Decline

Gold held its own on Friday as investors weighed bullion™s merits heading into 2020 after the U.S. and China managed a breakthrough in their bitter and drawn out trade dispute, with the commodity™s initial losses driven by weaker haven demand offset by a slump in the dollar. Bullion fluctuated after President Donald Trump signed off on a phase-one deal with China, averting the introduction of more U.S. tariffs, according to people familiar with the matter. Traders were also watching...

Hong Kong Stocks Soar on Trade Deal Reports (Review)

Hong Kong stocks jumped more than two percent Friday after reports said China and the US had finally reached a partial trade agreement that will see Washington cancel tariffs due to be imposed at the weekend. The Hang Seng index soared 2.57 percent, or 693.62 points, to 27,687.76. The benchmark Shanghai Composite Index added 1.78 percent, or 51.98 points, to 2,967.68 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rallied 1.48 percent, or 24.22 points, to...

Gold Steady as Weaker Dollar Offsets Increased Risk Appetite

Gold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in China-U.S. trade negotiations, while palladium scaled a fresh peak. Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up about 0.5% so far this week. U.S. gold futures were down 0.1% at $1,471.60. Sources said on Thursday U.S. negotiators were offering to cut existing tariffs on Chinese goods by as much as 50% and...

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 prices rise on weaker dollar as traders weigh progress on U.S.-China trade

Gold prices climbed Friday, buoyed by weakness in the dollar and a fall in bond yields, as traders struggled to sort out news that China has agreed to the text of a phase one trade deal with United States. Against that backdrop, February gold rose $3.70, or 0.3%, at $1,476 an ounce, set to more than recover its loss from Thursday. March silver meanwhile, shed 1.9 cents, or 0.1%, to $16.93 an ounce, after four consecutive sessions of gains. Among other metals on Comex, March copper fell 0.5%...

Dollar Hits Lowest Since July as Havens Retreat, Pound Rallies

The Bloomberg Dollar Spot Index drops a second week as riskier assets gain after U.S.-China agree on a phase-one trade deal and the U.K.™s Conservative Party wins a crushing majority in Thursday™s election. USD/JPY up 0.3% to 109.63 GBP/USD rallies by 2.7% to 1.3514, strongest since May 2018 before paring the advance; flows are nearly 10 times the average for the past month, as they now come two-way with a slight preference to fade dips, according to two traders in...

Gold Fails to Crumble as Trade Deal Hit Meets Dollar's Decline

Gold held its own on Friday as investors weighed bullion™s merits heading into 2020 after the U.S. and China managed a breakthrough in their bitter and drawn out trade dispute, with the commodity™s initial losses driven by weaker haven demand offset by a slump in the dollar. Bullion fluctuated after President Donald Trump signed off on a phase-one deal with China, averting the introduction of more U.S. tariffs, according to people familiar with the matter. Traders were also watching...

Hong Kong Stocks Soar on Trade Deal Reports (Review)

Hong Kong stocks jumped more than two percent Friday after reports said China and the US had finally reached a partial trade agreement that will see Washington cancel tariffs due to be imposed at the weekend. The Hang Seng index soared 2.57 percent, or 693.62 points, to 27,687.76. The benchmark Shanghai Composite Index added 1.78 percent, or 51.98 points, to 2,967.68 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rallied 1.48 percent, or 24.22 points, to...

Gold Steady as Weaker Dollar Offsets Increased Risk Appetite

Gold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in China-U.S. trade negotiations, while palladium scaled a fresh peak. Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up about 0.5% so far this week. U.S. gold futures were down 0.1% at $1,471.60. Sources said on Thursday U.S. negotiators were offering to cut existing tariffs on Chinese goods by as much as 50% and...

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