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POPULAR NEWS
Gold Edges Higher, But Faces Worst Week in Two Months

Gold prices edged higher on Friday, but was still on track to post its biggest weekly decline in about two months as solid Chinese data and a preliminary U.S.-China trade deal improved risk appetite. World shares hit record highs after data showed China's economy was stabilizing and the world's second-largest economy ended 2019 on a somewhat firmer note as the trade truce revived business confidence. Spot gold rose 0.3% to $1,556.56 per ounce, but was heading for a weekly drop of about 0.4%...

Gold futures end higher for the session, barely changed for the week

Gold futures settled higher on Friday, but barely budged for the week. "Gold has struggled to shine this week as positive economic data from the United States and China cooled concerns over the global economy," said Lukman Otunuga, senior research analyst at FXTM. "Appetite towards the metal was also bruised by the 'phase one' [U.S.-China] deal, which offered some light at the end of the long trade war tunnel. With stock markets hitting record highs and the dollar stabilizing, gold is...

Oil Near $59 as Trade Deal Hopes Jostle With Ample Supply

Oil was near $59 a barrel in New York after rising the most in almost two weeks as the U.S. and China signed a trade agreement, though remains capped by signs that supplies remain plentiful. Futures gained 0.5%, having increased 1.2% on Thursday as Washington and Beijing™s phase-one deal commits China to $52.4 billion in additional purchases of American energy over 2020 and 2021. Still, there was some skepticism about whether such as target is feasible, particularly if it leaves...

Gold Firm But Hemmed in Tight Range; Set For Worst Week in 2 Months

Gold prices edged higher on Friday but traded in a tight range as investors stayed on the sidelines in the absence of news  catalysts. The metal, however, was on track to post its biggest weekly drop in two months, as a long awaited U.S.-China Phase 1 trade deal fueled risk appetite. Spot gold rose 0.2% to $1,555.14 per ounce by 06:02 GMT, heading for a weekly drop of 0.4% ” its biggest since the week ended Nov. 8. U.S. gold futures rose 0.4% to $1,556.90. Source : CNBC

Pound Stumbles After Weaker-Than-Expected U.K. Retail Sales Data

The British pound fell Friday after data showed U.K. retail sales falling by 0.6% in December versus the previous month, adding to a picture of a weak economy that may need interest rate cuts to stimulate growth. In the three months to December 2019, sales fell 1% against the prior three months. The pound fell 0.2% to $1.3052, from a level of around $1.31 seen just ahead of the data. Source : Marketwatch

RBA Sees Moderate Recovery Persisting, But No Wage-Growth Gains
Friday, 8 November 2019 07:58 WIB | FISCAL & MONETARY |Ekonomi AustraliaRBA

Australia™s central bank maintained its glass half full view, reinforcing that the economy has emerged from its soft patch, while forecasting no acceleration in wage growth and core inflation barely reaching the bottom of its target.

In its quarterly update of the economic outlook released in Sydney Friday, the Reserve Bank predicted the economy would grow 2.25% this year, lifting to 2.75% in December 2020 and 3% in 2021. It said the expansion will be underpinned by consumption fueled by interest-rate and tax cuts and rising house prices.

œThese forecasts imply some progress towards the medium- term inflation and full-employment goals, but this progress is expected to be gradual, the RBA™s Statement on Monetary Policy said. It noted world markets œappear to have passed a trough of pessimism and this allows œtime to assess the effects of the recent easing of monetary policy and the global picture.

The RBA reiterated that it™s prepared to ease further if needed, following three rate cuts since June to try to reinvigorate growth and hiring. Unemployment is predicted to hold around the current 5.2% through to the end of next year, before dropping to 5%, and the RBA acknowledged this is still œsomewhat short of full employment.

In a section reflecting on October™s decision to reduce the cash rate to 0.75%, the RBA said the board was mindful rates were already very low and œeach further cut brings closer the point at which other policy options might come into play. That appeared to be a reference to unorthodox measures.

Source : Bloomberg

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POPULAR NEWS
Gold Edges Higher, But Faces Worst Week in Two Months

Gold prices edged higher on Friday, but was still on track to post its biggest weekly decline in about two months as solid Chinese data and a preliminary U.S.-China trade deal improved risk appetite. World shares hit record highs after data showed China's economy was stabilizing and the world's second-largest economy ended 2019 on a somewhat firmer note as the trade truce revived business confidence. Spot gold rose 0.3% to $1,556.56 per ounce, but was heading for a weekly drop of about 0.4%...

Gold futures end higher for the session, barely changed for the week

Gold futures settled higher on Friday, but barely budged for the week. "Gold has struggled to shine this week as positive economic data from the United States and China cooled concerns over the global economy," said Lukman Otunuga, senior research analyst at FXTM. "Appetite towards the metal was also bruised by the 'phase one' [U.S.-China] deal, which offered some light at the end of the long trade war tunnel. With stock markets hitting record highs and the dollar stabilizing, gold is...

Oil Near $59 as Trade Deal Hopes Jostle With Ample Supply

Oil was near $59 a barrel in New York after rising the most in almost two weeks as the U.S. and China signed a trade agreement, though remains capped by signs that supplies remain plentiful. Futures gained 0.5%, having increased 1.2% on Thursday as Washington and Beijing™s phase-one deal commits China to $52.4 billion in additional purchases of American energy over 2020 and 2021. Still, there was some skepticism about whether such as target is feasible, particularly if it leaves...

Gold Firm But Hemmed in Tight Range; Set For Worst Week in 2 Months

Gold prices edged higher on Friday but traded in a tight range as investors stayed on the sidelines in the absence of news  catalysts. The metal, however, was on track to post its biggest weekly drop in two months, as a long awaited U.S.-China Phase 1 trade deal fueled risk appetite. Spot gold rose 0.2% to $1,555.14 per ounce by 06:02 GMT, heading for a weekly drop of 0.4% ” its biggest since the week ended Nov. 8. U.S. gold futures rose 0.4% to $1,556.90. Source : CNBC

Pound Stumbles After Weaker-Than-Expected U.K. Retail Sales Data

The British pound fell Friday after data showed U.K. retail sales falling by 0.6% in December versus the previous month, adding to a picture of a weak economy that may need interest rate cuts to stimulate growth. In the three months to December 2019, sales fell 1% against the prior three months. The pound fell 0.2% to $1.3052, from a level of around $1.31 seen just ahead of the data. Source : Marketwatch

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