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POPULAR NEWS
Gold futures end lower for the session, but tally a 5th straight weekly gain

Gold futures ended lower on Friday, pulling back in the wake of the nearly nine-year high they reached earlier this week. Prices for the week, however, gained roughly 0.7%, as the spread of COVID-19 continued to raise the metal's appeal as a safe-haven investment. August gold fell $1.90, or 0.1%, to settle at $1,801.90 an ounce. Prices on Wednesday had settled at $1,820.60, the highest for a most-active contract since Sept. 14, 2011, according to FactSet data. Source: Marketwatch

Gold Heads For Weekly Gain As It Holds Above $1,800 An Ounce

Gold futures traded modestly higher Friday, on track for a weekly gain as the yellow metal remained above $1,800 an ounce, buoyed by a fall in bond yields and a desire to hedge against risk amid continued uncertainty over the economic outlook. August gold was up $11.80, or 0.7%, at $1,815.60 an ounce on Comex, while September silver rose 17.3 cents to $19.135 an ounce. Gold futures ended lower on Thursday, pulling back a day after scoring another settlement at the highest since September...

Oil climbs, but U.S. benchmark ends lower for the week as IEA warns of coronavirus risk

Oil futures climbed on Friday, buoyed by positive results tied to a COVID-19 treatment, but U.S. prices ended lower for the week as a report from the International Energy Agency cautioned that weaker demand caused by the coronavirus pandemic will linger, even if the worst of the hit to economies has subsided. August West Texas Intermediate crude rose 93 cents, or about 2.4%, to settle at $40.55 a barrel on the New York Mercantile Exchange, after sliding 3.1% on Thursday to hit the lowest...

Gold Heads for Fifth Weekly Advance Amid Virus Sparks

Gold hovered above its key $1,800-an-ounce mark, on course for a fifth weekly advance, as investors weighed concern over a resurgence in coronavirus cases hurting the global economy. Rising infections in the U.S. and Asia have supported havens like gold this week, even as the dollar firmed. Gold investors are also weighing mixed signs about the health of the U.S. labor market after data showed fewer Americans applied for unemployment benefits, while Wells Fargo &...

Oil Falls on Resurgence of Virus Cases, Oversupply

Oil prices dropped on Friday and were headed for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand. Brent crude was down by 46 cents, or 1.1%, at $41.89 a barrel, and U.S. oil fell 51 cents, or 1.3%, to $39.11 a barrel. Brent was set for a weekly decline of almost 2% and U.S. crude for a fall of almost 4%. More than 60,500 new COVID-19 cases were reported in the United States...

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 futures end lower for the session, but tally a 5th straight weekly gain

Gold futures ended lower on Friday, pulling back in the wake of the nearly nine-year high they reached earlier this week. Prices for the week, however, gained roughly 0.7%, as the spread of COVID-19 continued to raise the metal's appeal as a safe-haven investment. August gold fell $1.90, or 0.1%, to settle at $1,801.90 an ounce. Prices on Wednesday had settled at $1,820.60, the highest for a most-active contract since Sept. 14, 2011, according to FactSet data. Source: Marketwatch

Gold Heads For Weekly Gain As It Holds Above $1,800 An Ounce

Gold futures traded modestly higher Friday, on track for a weekly gain as the yellow metal remained above $1,800 an ounce, buoyed by a fall in bond yields and a desire to hedge against risk amid continued uncertainty over the economic outlook. August gold was up $11.80, or 0.7%, at $1,815.60 an ounce on Comex, while September silver rose 17.3 cents to $19.135 an ounce. Gold futures ended lower on Thursday, pulling back a day after scoring another settlement at the highest since September...

Oil climbs, but U.S. benchmark ends lower for the week as IEA warns of coronavirus risk

Oil futures climbed on Friday, buoyed by positive results tied to a COVID-19 treatment, but U.S. prices ended lower for the week as a report from the International Energy Agency cautioned that weaker demand caused by the coronavirus pandemic will linger, even if the worst of the hit to economies has subsided. August West Texas Intermediate crude rose 93 cents, or about 2.4%, to settle at $40.55 a barrel on the New York Mercantile Exchange, after sliding 3.1% on Thursday to hit the lowest...

Gold Heads for Fifth Weekly Advance Amid Virus Sparks

Gold hovered above its key $1,800-an-ounce mark, on course for a fifth weekly advance, as investors weighed concern over a resurgence in coronavirus cases hurting the global economy. Rising infections in the U.S. and Asia have supported havens like gold this week, even as the dollar firmed. Gold investors are also weighing mixed signs about the health of the U.S. labor market after data showed fewer Americans applied for unemployment benefits, while Wells Fargo &...

Oil Falls on Resurgence of Virus Cases, Oversupply

Oil prices dropped on Friday and were headed for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand. Brent crude was down by 46 cents, or 1.1%, at $41.89 a barrel, and U.S. oil fell 51 cents, or 1.3%, to $39.11 a barrel. Brent was set for a weekly decline of almost 2% and U.S. crude for a fall of almost 4%. More than 60,500 new COVID-19 cases were reported in the United States...

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