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POPULAR NEWS
Gold futures fall for the session, gain 0.4% for the week

Gold futures declined on Friday, as optimism that phase one of a U.S.-China trade deal will soon be reached, and strength in the U.S. stock market dulled haven demand for the metal. For the week, however, gold tacked on 0.4%. "Despite this recent bout of counterintuitive losses, gold looks strong both technically and, more importantly, from a fundamental point of view," said Mark O'Byrne, research director at GoldCore. "From a technical point of view, gold looks very bullish with a series of...

Hong Kong Stocks Close Flat, Ending Tough Week (Review)

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

Trade Hopes Propel Wall Street to Records; Healthcare Climbs

Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.-China trade tensions and by big gains in shares of healthcare companies. The Dow Jones Industrial Average rose 221.71 points, or 0.8%, to 28,003.67, the S&P 500 gained 23.72 points, or 0.77%, to 3,120.35 and the Nasdaq Composite added 61.81 points, or 0.73%, to 8,540.83. Source : Reuters

Oil gains 1.7%, shrugging off rising supply concerns

Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices. Benchmark Brent crude gained $1.03, or 1.7%, to settle at $63.31 a barrel, while West Texas Intermediate crude rose 95 cents, or 1.7%, to settle at $57.72 a barrel. Brent and WTI both posted their second straight weekly gain. U.S. Commerce Secretary Wilbur Ross said in an interview on Fox Business Network on Friday...

Australia Holds Key Rate, Wagers Housing Revival to Lift Spirits
Tuesday, 5 November 2019 10:50 WIB | FISCAL & MONETARY |Ekonomi AustraliaRBA

Australia kept interest rates unchanged Tuesday, betting that a rebound in property prices will increase household wealth and confidence and see consumers more willing to part with their cash.

Reserve Bank chief Philip Lowe and his board left the cash rate at 0.75% in Sydney as they monitor the ongoing impact of three reductions since June. The decision was predicted by money markets and economists and comes as policy makers struggle to accelerate economic growth and rekindle inflation.

œGiven global developments and the evidence of the spare capacity in the Australian economy, it is reasonable to expect that an extended period of low interest rates will be required in Australia, Governor Lowe said in a statement announcing the decision. The board œis prepared to ease monetary policy further if needed to support sustainable growth in the economy.

Australia gained much-needed breathing space in its easing cycle when the Federal Reserve signaled last week it was pausing rate cuts. That is likely to cool upward pressure on an Aussie dollar that Lowe has struggled to contain in order to keep his nation™s exporters competitive and hiring.

While the RBA™s three-quarters of a percentage point of rate cuts -- the same as the Fed -- and Australian government tax rebates have failed to lift flagging consumer spirits, monetary policy easing has been a boon for housing.

Prices in Melbourne surged 2.3% in October, the biggest monthly gain in almost 10 years, and have jumped 6% since bottoming in May. Sydney isn™t far behind, advancing 1.7% last month and rebounding 5.3% since May.

Yet that wealth effect hasn™t translated into improved sentiment: consumer confidence has fallen in four of the five months since the RBA resumed easing; retail sales, meanwhile, are miserable and rose just 0.2% in September from a year earlier and actually fell 0.1% in volume terms in the third quarter.

Source : Bloomberg

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POPULAR NEWS
Gold futures fall for the session, gain 0.4% for the week

Gold futures declined on Friday, as optimism that phase one of a U.S.-China trade deal will soon be reached, and strength in the U.S. stock market dulled haven demand for the metal. For the week, however, gold tacked on 0.4%. "Despite this recent bout of counterintuitive losses, gold looks strong both technically and, more importantly, from a fundamental point of view," said Mark O'Byrne, research director at GoldCore. "From a technical point of view, gold looks very bullish with a series of...

Hong Kong Stocks Close Flat, Ending Tough Week (Review)

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

Trade Hopes Propel Wall Street to Records; Healthcare Climbs

Wall Street's main stock indexes closed at record levels on Friday, fueled by fresh optimism over a potential calming of U.S.-China trade tensions and by big gains in shares of healthcare companies. The Dow Jones Industrial Average rose 221.71 points, or 0.8%, to 28,003.67, the S&P 500 gained 23.72 points, or 0.77%, to 3,120.35 and the Nasdaq Composite added 61.81 points, or 0.73%, to 8,540.83. Source : Reuters

Oil gains 1.7%, shrugging off rising supply concerns

Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices. Benchmark Brent crude gained $1.03, or 1.7%, to settle at $63.31 a barrel, while West Texas Intermediate crude rose 95 cents, or 1.7%, to settle at $57.72 a barrel. Brent and WTI both posted their second straight weekly gain. U.S. Commerce Secretary Wilbur Ross said in an interview on Fox Business Network on Friday...

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