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POPULAR NEWS
Gold finishes lower as worries over China virus ebb

Gold futures ended with a modest loss on Wednesday, lacking support as some equities markets in Asia and the U.S. climbed and while commodities traders weighed the potential economic impact of an outbreak of a serious virus in China. Gold for February delivery on Comex lost $1.20, or 0.08%, to settle at $1,556.70 an ounce, while March silver added 2 cents, or 0.1%, to $17.828 an ounce following a 1.5% loss Tuesday. In other metals trading, March palladium rose 4.6% to $2,335.60 an ounce,...

Gold futures finish at their highest in more than 2 weeks

Gold futures settled at a more than two-week high on Thursday, as worries surrounding the spread of the coronavirus led to weakness in the U.S. stock market and a fall in bond yields, lifting the haven appeal of the precious metal. "Appetite towards the precious metal should remain supported by growing fears over the coronavirus outbreak in China," said Lukman Otunuga, senior research analyst at FXTM. "The general uncertainty is likely to accelerate the flight to safety with gold seen testing...

Gold Holds Steady On Central Bank Policy Expectations

Gold prices were little changed on Wednesday as technical support on expected dovish monetary policy from central banks offset revived appetite for riskier assets and an upbeat dollar. Spot gold was down 0.1% at $1,555.73 an ounce at 13:22 GMT. U.S. gold futures dipped 0.2% to $1,555.50. Investors will keep a close eye on the European Central Bank™s first policy meeting of the year on Thursday, while the Fed™s first meeting is scheduled for Jan. 28-29. Lower interest rates reduce the...

Hong Kong Stocks Bounce After Sell-Off (Review)

Hong Kong shares recovered some of the previous day's sharp losses on bargain-buying Wednesday but traders remain on edge as they await developments linked to the deadly SARS -like virus that has spread from China. The Hang Seng index climbed 1.27 percent, or 355.71 points, to close at 28,341.04. The benchmark Shanghai Composite Index rose 0.28 percent, or 8.61 points, to 3,060.75 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.72 percent, or 13.07...

Hong Kong Stocks Sharply Down on Virus Fears (Review)

Hong Kong equities closed sharply lower on Thursday as investors took flight over the deadly SARS -like virus that has spread from China. The Hang Seng Index fell 1.52 percent, or 431.92 points, to end at 27,909.12. The benchmark Shanghai Composite Index losing 2.75 percent, or 84.23 points, to close at 2,976.53, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 3.45 percent, or 62.79 points, to 1,756.82 at the finish. Source : AFP

Fed Minutes Show Worries About Economy Had Eased a Bit
Thursday, 21 November 2019 02:24 WIB | FISCAL & MONETARY |The FedFederal Reserve

Federal Reserve officials were more upbeat about the economy in late October than they had been only six weeks earlier, according to minutes of their policy discussion released Wednesday.

Officials œgenerally viewed the economic outlook as positive, the minutes said.

œUncertainties associated with trade tensions as well as geopolitical risks had eased somewhat, although they remained elevated, the summary said.

Officials talked about a œresilient economy in the face of headwinds.

At their meeting, the Fed voted 8 to 2 to trim rates by a quarter-point. It was the third straight meeting with a cut, bringing the benchmark fed funds rate to a range of 1.5%-1.75%.

As expected, there was widespread support among Fed officials for moving to the sidelines to give officials time to assess the impact of the easing. Fed Chairman Jerome Powell signaled the pause in his press conference after the meeting and officials in their public speeches have endorsed the idea.

The minutes stress that the Fed would be watching the data closely and policy was not on a pre-set course. Powell told Congress last week that œif developments emerge that cause a material reassessment of our outlook, we would respond accordingly. The minutes did not give further definition of what such a œmaterial change would look like.

According to the minutes, only two officials wanted more clarity to be expressed. They asked the committee to tell investors that further easing œwas unlikely in the near term unless incoming data was consistent with a significant slowdown in the pace of economic activity.

The minutes show Fed officials had a lengthy discussion of putting in place a permanent repo facility to be a backstop in case of future turmoil in the short-term lending market similar to the latest episode in September.

An alternative idea was to start relatively frequent repo operations that could be scaled up if needed. No decision on these two alternatives was taken.

Officials also talked about what tools to use in the next recession. In a rare case of unanimity, œall Fed officials said they opposed pushing their benchmark interest rate into negative territory in a downturn as central banks in Europe and Japan have done.

There was general agreement that bond purchases ” considered to be quantitative easing to boost the economy ” along with guiding the market about future policy, would be effective tools in fighting the next downturn.

Stocks were lower Wednesday, mostly on concern that talks of a trade truce between the U.S. and China had stalled.

Source : Marketwatch

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POPULAR NEWS
Gold finishes lower as worries over China virus ebb

Gold futures ended with a modest loss on Wednesday, lacking support as some equities markets in Asia and the U.S. climbed and while commodities traders weighed the potential economic impact of an outbreak of a serious virus in China. Gold for February delivery on Comex lost $1.20, or 0.08%, to settle at $1,556.70 an ounce, while March silver added 2 cents, or 0.1%, to $17.828 an ounce following a 1.5% loss Tuesday. In other metals trading, March palladium rose 4.6% to $2,335.60 an ounce,...

Gold futures finish at their highest in more than 2 weeks

Gold futures settled at a more than two-week high on Thursday, as worries surrounding the spread of the coronavirus led to weakness in the U.S. stock market and a fall in bond yields, lifting the haven appeal of the precious metal. "Appetite towards the precious metal should remain supported by growing fears over the coronavirus outbreak in China," said Lukman Otunuga, senior research analyst at FXTM. "The general uncertainty is likely to accelerate the flight to safety with gold seen testing...

Gold Holds Steady On Central Bank Policy Expectations

Gold prices were little changed on Wednesday as technical support on expected dovish monetary policy from central banks offset revived appetite for riskier assets and an upbeat dollar. Spot gold was down 0.1% at $1,555.73 an ounce at 13:22 GMT. U.S. gold futures dipped 0.2% to $1,555.50. Investors will keep a close eye on the European Central Bank™s first policy meeting of the year on Thursday, while the Fed™s first meeting is scheduled for Jan. 28-29. Lower interest rates reduce the...

Hong Kong Stocks Bounce After Sell-Off (Review)

Hong Kong shares recovered some of the previous day's sharp losses on bargain-buying Wednesday but traders remain on edge as they await developments linked to the deadly SARS -like virus that has spread from China. The Hang Seng index climbed 1.27 percent, or 355.71 points, to close at 28,341.04. The benchmark Shanghai Composite Index rose 0.28 percent, or 8.61 points, to 3,060.75 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.72 percent, or 13.07...

Hong Kong Stocks Sharply Down on Virus Fears (Review)

Hong Kong equities closed sharply lower on Thursday as investors took flight over the deadly SARS -like virus that has spread from China. The Hang Seng Index fell 1.52 percent, or 431.92 points, to end at 27,909.12. The benchmark Shanghai Composite Index losing 2.75 percent, or 84.23 points, to close at 2,976.53, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, tumbled 3.45 percent, or 62.79 points, to 1,756.82 at the finish. Source : AFP

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