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POPULAR NEWS
Gold Finishes Higher After Cooler-Than-Expected Retail-Sales Report

Gold prices ended higher on Wednesday as investors watched global political news surrounding trade and Brexit, and reacted to a weaker-than-expected reading of U.S. retail sales, which spurred some haven buying. Moves for the precious metal came as Brexit and the "usual worries persist" on Turkey, the Middle East, U.S. politics and the global economic outlook, as well as on uncertainty tied to the continued tariff talks with China, said George Gero, managing director, at RBC Wealth...

Gold Edges Up as Geopolitics Take Control of Trade

Investors managed to push gold higher Thursday instead of completely embracing risk, as doubts remained about whether the U.K. will get parliament ratification for its Brexit deal, but Turkey agreed to a ceasefire in Syria. U.S. gold futures for December delivery settled up $4.30, or 0.3%, at $1,498.30 per ounce. In post-settlement trade, gold futures were up just $1.45, or 0.1%, at $1,495.45, at 3:27 PM ET (19:27 GMT) after scaling $1,501.05 at the intraday high. Spot gold was up $1.83, or...

Gold Scores a Bounce After Cooler-Than-Expected Retail Sales Report

Gold prices were climbing on Wednesday as investors watched global political news surrounding trade, Brexit and reacted to a weaker-than-expected reading of U.S. retail sales, which spurred some haven buying. A report of the retail sales fell 0.3% last month, the government said Thursday, ending a streak of six straight strong gains that helped to fuel economic growth in the middle of the year, as most stores posted lower receipts, signaling that a widely expected slowdown in consumer...

Hong Kong stocks closed higher (Review)

Hong Kong shares closed higher on Wednesday, in line with a rally across Asia and after shrugging off a mid-morning drop when the city's leader was forced to briefly abandon a policy speech owing to heckling by opposition lawmakers.The Hang Seng Index added 0.61 percent, or 160.35 points, to 26,664.28. The benchmark Shanghai Composite Index dropped 0.41 percent, or 12.34 points, to 2,978.71, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, eased 0.38...

Wall Street Slips as Weak Economic Data Offsets Earnings Strength

Wall Street lost ground on Wednesday as weak U.S. economic data and simmering geopolitical tensions spooked buyers away from the equities market, despite a string of generally positive third-quarter earnings reports. Technology shares, led by Microsoft Inc, weighed heaviest, pulling all three major U.S. stock averages into the red. U.S. retail sales contracted in September for the first time in seven months, according to the Commerce Department, in a sign that cracks might be spreading from...

RBA Sees Risk of Property-Price Spike as House-Building Dwindles
Tuesday, 17 September 2019 09:03 WIB | FISCAL & MONETARY |RBA

Australia's central bank said there's potential for an upswing in home prices as dwelling construction weakens, while reiterating it's prepared to lower interest rates further.

In minutes of its Sept. 3 policy meeting released in Sydney Tuesday, the Reserve Bank also noted that "the upward trend in wages growth appeared to have stalled" and that forward-looking indicators suggested employment growth would moderate over the next six months. It kept the cash rate unchanged at 1% after back-to-back cuts in June and July.

Policy makers reaffirmed that they see an œextended period of low rates and will ease further œif needed to support sustainable economic growth and faster inflation. The RBA noted positive investment intentions for mining in the 12 months through June 2020, modestly lower plans for non-mining industries and a œparticularly weak outlook for construction.

œThere was likely to be further weakness in dwelling investment in the near term, the RBA said. œMembers recognized that this could sow the seeds of an upswing in the housing price cycle at some point, particularly given the lengthy stages in the construction of higher-density residential housing.

Since the two cuts and an easing of lending restrictions, property prices in Sydney and Melbourne have been resurgent. Policy makers are hoping this will generate a wealth effect that encourages consumers to resume spending, particularly as a government cash rebate is being transferred to households.

œHowever, the bank's liaison with retailers suggested that this had yet to lift spending noticeably, the minutes said. The bank noted that even if the cash œwas used to pay off debts, this would still bring forward the point at which households could increase their spending.

Australian household debt is at a record-high and this is being compounded by weak wages growth.

The minutes also showed members had a œdetailed discussion of the ways in which financial conditions abroad affect Australia. The board noted that Australia's floating exchange rate -- currently near its lowest in some years -- meant policy could be set according to domestic conditions.

At an international level, the RBA expects trade will remain weak for some time and noted that heightened geopolitical uncertainty -- the U.S.-China trade war, Brexit and Europe -- had contributed to lower growth and investment in many economies.

Australian firms didn't seem to have been affected by the weak trade environment as much as counterparts in other advanced economies, the minutes said, pointing out Australian companies are more geared to China's domestic demand and less integrated in global supply chains.

Still, the bank reiterated that œit was reasonable to expect that an extended period of low interest rates would be required, the minutes showed. œMembers would assess developments in both the international and domestic economies, including labor market conditions, and would ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time.

The RBA targets inflation of 2-3% and has struggled to reach that target for almost five years.

Source : Bloomberg

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POPULAR NEWS
Gold Finishes Higher After Cooler-Than-Expected Retail-Sales Report

Gold prices ended higher on Wednesday as investors watched global political news surrounding trade and Brexit, and reacted to a weaker-than-expected reading of U.S. retail sales, which spurred some haven buying. Moves for the precious metal came as Brexit and the "usual worries persist" on Turkey, the Middle East, U.S. politics and the global economic outlook, as well as on uncertainty tied to the continued tariff talks with China, said George Gero, managing director, at RBC Wealth...

Gold Edges Up as Geopolitics Take Control of Trade

Investors managed to push gold higher Thursday instead of completely embracing risk, as doubts remained about whether the U.K. will get parliament ratification for its Brexit deal, but Turkey agreed to a ceasefire in Syria. U.S. gold futures for December delivery settled up $4.30, or 0.3%, at $1,498.30 per ounce. In post-settlement trade, gold futures were up just $1.45, or 0.1%, at $1,495.45, at 3:27 PM ET (19:27 GMT) after scaling $1,501.05 at the intraday high. Spot gold was up $1.83, or...

Gold Scores a Bounce After Cooler-Than-Expected Retail Sales Report

Gold prices were climbing on Wednesday as investors watched global political news surrounding trade, Brexit and reacted to a weaker-than-expected reading of U.S. retail sales, which spurred some haven buying. A report of the retail sales fell 0.3% last month, the government said Thursday, ending a streak of six straight strong gains that helped to fuel economic growth in the middle of the year, as most stores posted lower receipts, signaling that a widely expected slowdown in consumer...

Hong Kong stocks closed higher (Review)

Hong Kong shares closed higher on Wednesday, in line with a rally across Asia and after shrugging off a mid-morning drop when the city's leader was forced to briefly abandon a policy speech owing to heckling by opposition lawmakers.The Hang Seng Index added 0.61 percent, or 160.35 points, to 26,664.28. The benchmark Shanghai Composite Index dropped 0.41 percent, or 12.34 points, to 2,978.71, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, eased 0.38...

Wall Street Slips as Weak Economic Data Offsets Earnings Strength

Wall Street lost ground on Wednesday as weak U.S. economic data and simmering geopolitical tensions spooked buyers away from the equities market, despite a string of generally positive third-quarter earnings reports. Technology shares, led by Microsoft Inc, weighed heaviest, pulling all three major U.S. stock averages into the red. U.S. retail sales contracted in September for the first time in seven months, according to the Commerce Department, in a sign that cracks might be spreading from...

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