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POPULAR NEWS
Gold Dips On Day, But Up On Week Ahead of Brexit Vote

Gold posted a weekly gain but safe-haven investors and those traditionally long the yellow metal largely sat out of Friday™s market, letting prices dip, with few leads to chase, ahead of a weekend parliament vote on the U.K. bid to leave the EU. After early gains in the day on the prospects that Britain™s Brexit hopes and U.S.-China trade deal aspirations will be dashed again, gold dipped in later hours on signs that fewer central banks around the world might ramp up on another round of...

Hong Kong, Shanghai stocks end with losses (Review)

Shares in Hong Kong and Shanghai sank on Friday after data showed China's economy growing at its slowest pace for almost 30 years. The Hang Seng Index fell 0.48 percent, or 128.91 points, to 26,719.58. The benchmark Shanghai Composite Index fell 1.32 percent, or 39.19 points, to 2,938.14, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.17 percent, or 19.20 points, to 1,616.72. Source: AFP

Dow Industrials End 1% Lower as Boeing, J&J Shares Exact More Than 220-Point

U.S. stocks finished near their lows of the session on Friday, with declines in Johnson & Johnson and Boeing Co. delivering the lion's share of the pain for the Dow industrials. The Dow closed off 255 points, or 0.9%, at 26,770. Dow components Boeing cut about 170 points from the price-weighted average, while J&J and shares exacted a 57-point toll on the index. The S&P 500 index closed 0.4% lower at 2,986, while the Nasdaq Composite Index ended 0.8% lower at 8,090. Boeing's stock...

Oil Retreats, Contributing to a Weekly Loss as China Data Revive Worries About Demand

Oil futures finished lower on Friday, giving up earlier gains to build a loss for the week, as data showing slower Chinese economic growth fed worries about weaker demand for oil and a recent report revealed a fifth consecutive weekly rise in U.S. crude inventories. However, support tied to progress toward deals on U.S.-China trade and Brexit, as well as a weekly fall in U.S. petroleum-product inventories limited losses for prices. China's National Bureau of Statistics released data Friday...

Fighting Continues in Syria

Despite a U.S.-brokered cease-fire agreement, fighting continued Friday in northeast Syria. Loud bangs and gunfire could be heard, and smoke could be seen rising over the town of Ceylanpinar, a day after Turkey and the U.S. agreed to a five-day cease-fire in Turkey's offensive against Kurdish fighters.  Turkey considers the Kurds to be terrorists. The deal has the Kurdish fighters leaving part of Syria along the Turkish border in an arrangement that strengthens Turkey's position in the...

Draghi Talks Tough on Stimulus as ECB Discusses More Rate Cuts
Thursday, 6 June 2019 21:26 WIB | MONETARY | ECBMario Draghi

Mario Draghi hardened his language as he said the European Central Bank won™t shy away from action to support the euro-area economy as growth weakens.

Policy makers are œdetermined to act if needed, citing the œprolonged persistence of uncertainties and the œrising threat of protectionism, the ECB president said in Vilnius after the Governing Council met. Some officials raised the prospect of interest-rate cuts or restarting quantitative easing and there is œconsiderable headroom for more QE, he added.

council extended its pledge to keep interest rates at record lows and announced details on a program for infusing lenders with more cheap cash. That wasn™t enough for some investors in a week when global central banks including the Federal Reserve turned more dovish. German bond yields and the euro rose. Still, bank stocks gained on the details of the long-term loans.

Trade tensions buffeting the global economy have spurred monetary policy makers to move toward easing. Australia reduced rates on Tuesday for the first time in three years and India cut for a third time this year on Thursday, while Fed Chairman Jerome Powell shifted closer to acting.

Draghi said ECB economists downgraded their outlook for growth and inflation next year. The euro-zone economy is now seen expanding 1.4% in 2020 compared with a March forecast for 1.6%. Inflation is seen at 1.3% this year, 1.4% next year and 1.6% in 2021 -- well below target.

The long-term loans to banks will start in September and initially be priced at the main refinancing rate plus 0.1 percentage point. They can fall as low as the deposit rate plus 0.1 percentage point if banks meet lending benchmarks. The main refinancing rate is currently zero, and the deposit rate is minus 0.4%.

Market-based inflation expectations are at their lowest since 2016, a trend that Draghi said policy makers take seriously, while stressing that there is no threat of deflation and a very low probability of recession.

The ECB™s action on Thursday œtakes into account the prolongation of uncertainty with respect to what we saw and believed in March, Draghi told reporters, citing Brexit and rising populism as well as trade.

Markets œmight see a much broader phenomena, where the multilateral order that we have lived in since World War II is disappearing, he said. œAnd then of course the uncertainty about Brexit negotiations, the uncertainty of vulnerabilities of certain emerging-market countries, which are important.

Source: Bloomberg

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POPULAR NEWS
Gold Dips On Day, But Up On Week Ahead of Brexit Vote

Gold posted a weekly gain but safe-haven investors and those traditionally long the yellow metal largely sat out of Friday™s market, letting prices dip, with few leads to chase, ahead of a weekend parliament vote on the U.K. bid to leave the EU. After early gains in the day on the prospects that Britain™s Brexit hopes and U.S.-China trade deal aspirations will be dashed again, gold dipped in later hours on signs that fewer central banks around the world might ramp up on another round of...

Hong Kong, Shanghai stocks end with losses (Review)

Shares in Hong Kong and Shanghai sank on Friday after data showed China's economy growing at its slowest pace for almost 30 years. The Hang Seng Index fell 0.48 percent, or 128.91 points, to 26,719.58. The benchmark Shanghai Composite Index fell 1.32 percent, or 39.19 points, to 2,938.14, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, dropped 1.17 percent, or 19.20 points, to 1,616.72. Source: AFP

Dow Industrials End 1% Lower as Boeing, J&J Shares Exact More Than 220-Point

U.S. stocks finished near their lows of the session on Friday, with declines in Johnson & Johnson and Boeing Co. delivering the lion's share of the pain for the Dow industrials. The Dow closed off 255 points, or 0.9%, at 26,770. Dow components Boeing cut about 170 points from the price-weighted average, while J&J and shares exacted a 57-point toll on the index. The S&P 500 index closed 0.4% lower at 2,986, while the Nasdaq Composite Index ended 0.8% lower at 8,090. Boeing's stock...

Oil Retreats, Contributing to a Weekly Loss as China Data Revive Worries About Demand

Oil futures finished lower on Friday, giving up earlier gains to build a loss for the week, as data showing slower Chinese economic growth fed worries about weaker demand for oil and a recent report revealed a fifth consecutive weekly rise in U.S. crude inventories. However, support tied to progress toward deals on U.S.-China trade and Brexit, as well as a weekly fall in U.S. petroleum-product inventories limited losses for prices. China's National Bureau of Statistics released data Friday...

Fighting Continues in Syria

Despite a U.S.-brokered cease-fire agreement, fighting continued Friday in northeast Syria. Loud bangs and gunfire could be heard, and smoke could be seen rising over the town of Ceylanpinar, a day after Turkey and the U.S. agreed to a five-day cease-fire in Turkey's offensive against Kurdish fighters.  Turkey considers the Kurds to be terrorists. The deal has the Kurdish fighters leaving part of Syria along the Turkish border in an arrangement that strengthens Turkey's position in the...

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