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POPULAR NEWS
Gold Bounces Around As Investors Key In On Friday Jobs Report

Gold futures on Friday swung between small gains and losses as investors watched for a report on the labor market in March, which may offer some clues about the state of American jobs even if it doesn™t entirely reveal the extent of the damage of coronavirus business shutdowns. Friday™s nonfarm-payrolls report from the Bureau of Labor Statistics will indicate how many workers the U.S. economy added last month, with average consensus estimates from economists for ais expected to show...

Gold Ends Higher after U.S. Jobs Report, but Posts a Loss for The Week

Gold futures ended higher on Friday after a report on U.S. employment in March indicated that the damage from coronavirus related business shutdowns is already having a big impact on the labor market. For the week, however, prices posted a modest decline. "Gold's upside price bias has been restrained by the deflation scare running through financial markets, said Michael Kosares, founder of USAGOLD. June gold on Comex rose $8, or 0.5%, to settle at $1,645.70 an ounce. It tacked on 2.9% on...

Gold Eases on Firm Dollar, But Holds Tight Range Ahead of US Data

Gold prices were subdued on Friday as the dollar strengthened, but they were stuck in a narrow range ahead of U.S. nonfarm payrolls data that could provide further clarity on the economic damage from the coronavirus. Spot gold was down 0.1% at $1,610.46 per ounce by 0923 GMT. The metal has declined nearly 0.5% so far this week after an 8% jump in the previous week. U.S. gold futures dropped 0.6% to $1,627.90 per ounce. Safe-haven gains for the U.S. dollar limited gold™s advance, with the...

U.S. Shed 701,000 Jobs in March in Foretaste of Worse to Come

The U.S. economy shed 701,000 jobs in the month to mid-March, the government said in a monthly labor market report that largely predates any impact from the Covid-19 pandemic on the U.S. economy. The figures, normally the most eagerly-awaited data of the month in global financial markets, have already been rendered largely meaningless by the unprecedented spike in jobless claims over the subsequent two weeks. Nearly 10 million Americans “ 6% of a total workforce of 164 million - have filed...

Hong Kong Stocks Head Into Weekend With a Loss (Review)

Hong Kong shares finished Friday with losses, in line with an Asia-wide sell-off, after data showed a massive 6.7 million Americans last week applied for unemployment benefits as the coronavirus shatters the global economy. The Hang Seng Index fell 0.19 percent, or 43.95 points, to 23,236.11. The benchmark Shanghai Composite Index dropped 0.60 percent, or 16.65 points, to 2,763.99, and the Shenzhen Composite Index on China's second exchange fell 0.47 percent, or 7.98 points, to...

Powell says the Fed is 'grappling' with whether to cut interest rates
Wednesday, 26 June 2019 00:28 WIB | MONETARY |The Fed

Federal Reserve Chairman Jerome Powell on Tuesday suggested an interest-rate cut in July, widely expected by investors and economists, is not a done deal.

While greater uncertainty about trade and worries about global economy might be starting to show through to economic data, officials don™t know how long this may last and how serious the drag might be, the Fed chairman said.

œThe question my colleagues and I are grappling with is whether these uncertainties will continue to weigh on the outlook and thus call for additional policy accommodation, Powell said, in brief remarks ahead of a moderated discussion at the Council on Foreign Relations in New York.

Powell said that œmany FOMC participants judge that the case for somewhat more accommodative policy has strengthened.

Only 10 of the 17 Fed participants are voters. The committee voted 9-1 to hold rates steady last week.

Since the Fed meeting last week, three Fed officials have publicly made the case for interest rate cuts and one took a wait-and-see approach similar to Powell™s.

Powell said Fed officials are mindful that monetary policy œshould not overreact to any individual data point or short-term swing in sentiment.

Powell said the basic economic outlook of the FOMC œremains favorable. Officials expect inflation to return to 2% over time œbut at a somewhat slower pace than we foresaw earlier in the year, he said. The downside risks to this outlook appear to have grown, he said.

Source : MarketWatch

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POPULAR NEWS
Gold Bounces Around As Investors Key In On Friday Jobs Report

Gold futures on Friday swung between small gains and losses as investors watched for a report on the labor market in March, which may offer some clues about the state of American jobs even if it doesn™t entirely reveal the extent of the damage of coronavirus business shutdowns. Friday™s nonfarm-payrolls report from the Bureau of Labor Statistics will indicate how many workers the U.S. economy added last month, with average consensus estimates from economists for ais expected to show...

Gold Ends Higher after U.S. Jobs Report, but Posts a Loss for The Week

Gold futures ended higher on Friday after a report on U.S. employment in March indicated that the damage from coronavirus related business shutdowns is already having a big impact on the labor market. For the week, however, prices posted a modest decline. "Gold's upside price bias has been restrained by the deflation scare running through financial markets, said Michael Kosares, founder of USAGOLD. June gold on Comex rose $8, or 0.5%, to settle at $1,645.70 an ounce. It tacked on 2.9% on...

Gold Eases on Firm Dollar, But Holds Tight Range Ahead of US Data

Gold prices were subdued on Friday as the dollar strengthened, but they were stuck in a narrow range ahead of U.S. nonfarm payrolls data that could provide further clarity on the economic damage from the coronavirus. Spot gold was down 0.1% at $1,610.46 per ounce by 0923 GMT. The metal has declined nearly 0.5% so far this week after an 8% jump in the previous week. U.S. gold futures dropped 0.6% to $1,627.90 per ounce. Safe-haven gains for the U.S. dollar limited gold™s advance, with the...

U.S. Shed 701,000 Jobs in March in Foretaste of Worse to Come

The U.S. economy shed 701,000 jobs in the month to mid-March, the government said in a monthly labor market report that largely predates any impact from the Covid-19 pandemic on the U.S. economy. The figures, normally the most eagerly-awaited data of the month in global financial markets, have already been rendered largely meaningless by the unprecedented spike in jobless claims over the subsequent two weeks. Nearly 10 million Americans “ 6% of a total workforce of 164 million - have filed...

Hong Kong Stocks Head Into Weekend With a Loss (Review)

Hong Kong shares finished Friday with losses, in line with an Asia-wide sell-off, after data showed a massive 6.7 million Americans last week applied for unemployment benefits as the coronavirus shatters the global economy. The Hang Seng Index fell 0.19 percent, or 43.95 points, to 23,236.11. The benchmark Shanghai Composite Index dropped 0.60 percent, or 16.65 points, to 2,763.99, and the Shenzhen Composite Index on China's second exchange fell 0.47 percent, or 7.98 points, to...

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