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POPULAR NEWS
Gold prices slip a bit ahead of Fed meeting this week

Gold futures settled at a slight loss on Monday, finding little reason to move in either direction ahead of a mid-week policy update from the Federal Reserve and a U.K. general election that could roil markets. February gold on Comex lost 20 cents, or 0.01%, to settle at $1,464.90 an ounce, after declining 0.5% last week. March silver meanwhile, added 4.6 cents, or 0.3%, at $16.642 an ounce, following a weekly decline of 3%, according to FactSet data. Among other metals traded on Comex,...

Strong U.S. Jobs Data Supports Dollar as Market Looks to U.S.-China Trade Deal

The dollar held firm on Monday after data showed surprise strength in the U.S. jobs market, but the currency was restrained from moving higher by worries about an escalation in the U.S.-China trade war. The dollar index stood almost flat at 97.704 in early Asian trade on Monday, after rising 0.3% on Friday. The euro traded at $1.10575 , after hitting a one-week low of $1.10395 on Friday. The dollar changed hands at 108.57 yen . It had lifted to 108.92 yen on the U.S. jobs data before losing...

Dollar Steadies as Investors Brace for Key Risk Events

The dollar and yen held the safe-haven high ground on Tuesday, with investors on edge ahead of a looming tariff deadline, the UK election and upcoming central bank meetings in Europe and the United States. Front of mind is whether Washington will go ahead with a fresh round of tariffs on Sunday, or whether a deal with China can be reached before then. White House economic adviser Larry Kudlow said on Friday that the Dec. 15 deadline is still in place, but Bloomberg reported Agriculture...

Gold Prices Step Higher as Ahead of Fed Meeting, Buoyed by Weaker Buck

Gold futures headed higher Friday morning as weakness in the U.S. dollar helped to prop up the yellow metal ahead of a policy update from the Federal Reserve due in the middle of the week and a U.K. general election that could roil markets. February gold on Comex picked up $3.70, or 0.3%, to trade at $1,468.90 an ounce, after declining 0.5% last week. March silver meanwhile, added 8 cents, or 0.5%, at $16.680 an ounce, following a weekly decline of 3%, according to FactSet data. On Monday...

Oil Steady as Stockpile Drop Forecast Weighed Against Trade War

Oil was little changed as investors weighed an expected drop in American crude stockpiles against the possibility of the U.S. imposing extra tariffs on a new $160 billion swath of Chinese goods this Sunday. West Texas Intermediate for January delivery was down 13 cents to $58.89/bbl on the New York Mercantile Exchange as of 7:45am Singapore time. Brent futures for February settlement closed 14 cents lower at $64.25/bbl on London's ICE Futures Europe Exchange on Monday. The global...

India Hikes Tariffs on US Goods Amid Deepening Trade Friction
Monday, 17 June 2019 17:15 WIB | GLOBAL |Global

India has hiked tariffs on 28 goods imported from the United States as a trade spat between the two countries intensifies.

The retaliatory move came days after Washington removed New Delhi from a list of countries that have preferential access to its market.

"India has put its cards on the table," says trade expert Biswajit Dhar at Jawaharlal Nehru University in New Delhi. "The U.S. has upped the ante and it is also threatening to take further action. This required India to respond."

The trade spat has escalated ahead of a visit later this month to New Delhi by U.S. Secretary of State Mike Pompeo who has pushed India to allow American companies more access to its markets and to lower barriers.

Experts fear the growing tensions could cast a shadow over a deepening India-U.S. strategic partnership that aims at countering China's growing influence.

The American goods that attract higher tariffs beginning Sunday include almonds, apples, walnuts, chickpeas and lentils, as well as some stainless steel products. New Delhi is the largest importer of U.S. almonds and the second largest buyer of apples. The total impact of the Indian tariffs is estimated to be about $240 million.

The hike in duties by New Delhi was announced a year ago in retaliation for Washington's imposition of higher tariffs on imported steel and aluminum, but deferred several times as both sides held talks to bridge their differences.

But India went ahead after the U.S. earlier this month imposed another punitive measure: removing New Delhi from a trade program to aid the economies of developing countries. Washington said the preferential status was revoked because India has failed to provide adequate access to its markets for U.S. firms. It will impact Indian imports worth $5.6 billion. New Delhi was the largest beneficiary of the Generalized Systems of Preferences program.

India's commerce ministry has called the decision unfortunate.

U.S. President Donald Trump has repeatedly named India as one of the countries that follow trade practices unfair to the United States. Washington wants New Delhi to address a trade imbalance, the $142 billion bilateral trade is skewed in New Delhi's favor by about $30 billion.

Dhar says among the sticking points are the demands by Washington that India lower tariffs on dairy and poultry to encourage U.S. agricultural imports. But these are areas where New Delhi faces domestic challenges.

"India is battling with this very large population of small and marginal farmers. It is very difficult for India to drop tariffs specially as we know U.S. agricultural products are being subsidized," according to Dhar.

The United States is also concerned about recent rules that it says adversely impact the operations of its e-commerce companies such as Amazon and Walmart in India.

Even though the moves by New Delhi and Washington signal that each is taking a tougher stand, they could also push both sides to more serious negotiations to resolve their differences.

"We remain open to dialogue and hope that our friends in India will drop their trade barriers and trust in the competitiveness of their own companies, their own businesses, their own people," Pompeo said at policy speech at the U.S. India Business Council in Washington on Thursday. He said that countries that have provided American companies access to their markets have seen "real opportunity."

Pompeo will in New Delhi on June 25-26 to hold talks with his Indian counterpart. Indian Prime Minister Narendra Modi and U.S. President Trump are also expected to meet on the sidelines of the G-20 summit in Japan later this month.

Source : VOA

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POPULAR NEWS
Gold prices slip a bit ahead of Fed meeting this week

Gold futures settled at a slight loss on Monday, finding little reason to move in either direction ahead of a mid-week policy update from the Federal Reserve and a U.K. general election that could roil markets. February gold on Comex lost 20 cents, or 0.01%, to settle at $1,464.90 an ounce, after declining 0.5% last week. March silver meanwhile, added 4.6 cents, or 0.3%, at $16.642 an ounce, following a weekly decline of 3%, according to FactSet data. Among other metals traded on Comex,...

Strong U.S. Jobs Data Supports Dollar as Market Looks to U.S.-China Trade Deal

The dollar held firm on Monday after data showed surprise strength in the U.S. jobs market, but the currency was restrained from moving higher by worries about an escalation in the U.S.-China trade war. The dollar index stood almost flat at 97.704 in early Asian trade on Monday, after rising 0.3% on Friday. The euro traded at $1.10575 , after hitting a one-week low of $1.10395 on Friday. The dollar changed hands at 108.57 yen . It had lifted to 108.92 yen on the U.S. jobs data before losing...

Dollar Steadies as Investors Brace for Key Risk Events

The dollar and yen held the safe-haven high ground on Tuesday, with investors on edge ahead of a looming tariff deadline, the UK election and upcoming central bank meetings in Europe and the United States. Front of mind is whether Washington will go ahead with a fresh round of tariffs on Sunday, or whether a deal with China can be reached before then. White House economic adviser Larry Kudlow said on Friday that the Dec. 15 deadline is still in place, but Bloomberg reported Agriculture...

Gold Prices Step Higher as Ahead of Fed Meeting, Buoyed by Weaker Buck

Gold futures headed higher Friday morning as weakness in the U.S. dollar helped to prop up the yellow metal ahead of a policy update from the Federal Reserve due in the middle of the week and a U.K. general election that could roil markets. February gold on Comex picked up $3.70, or 0.3%, to trade at $1,468.90 an ounce, after declining 0.5% last week. March silver meanwhile, added 8 cents, or 0.5%, at $16.680 an ounce, following a weekly decline of 3%, according to FactSet data. On Monday...

Oil Steady as Stockpile Drop Forecast Weighed Against Trade War

Oil was little changed as investors weighed an expected drop in American crude stockpiles against the possibility of the U.S. imposing extra tariffs on a new $160 billion swath of Chinese goods this Sunday. West Texas Intermediate for January delivery was down 13 cents to $58.89/bbl on the New York Mercantile Exchange as of 7:45am Singapore time. Brent futures for February settlement closed 14 cents lower at $64.25/bbl on London's ICE Futures Europe Exchange on Monday. The global...

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