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POPULAR NEWS
Gold Futures Post a Gain For a 4th Week in a Row

Gold futures rallied Friday, with China™s plan for retaliatory tariffs on U.S. goods helping to boost investor interest in the haven metal. "Gold is likely to be most volatile during FOMC meetings and days (like today) when we receive a barrage of tweets from President [Donald] Trump and headlines concerning global trade," said Matthew Miller, equity analyst at CFRA Research. "The news regarding China's trade retaliation and [Trump's] multiple tweets attacking the Federal Reserve are...

Powell: U.S. in 'favorable' place, Fed will 'act as appropriate'

The U.S. economy is in a "favorable place" and the Federal Reserve will "act as appropriate" to keep the current economic expansion on track, Fed chair Jerome Powell said on Friday in remarks that gave few clues about whether the central bank will cut interest rates at its next meeting or not. The chair, under pressure from President Donald Trump to cut rates soon and deeply, listed a series of economic and geopolitical risks that the Fed is monitoring ” many of them, Powell noted, linked...

Gold set for worst week in nearly 5 months; Powell's speech in focus

Gold eased on Friday and was set for its worst week in nearly five months, as lack of clarity from the U.S. Federal Reserve on the outlook for interest rate cuts triggered investors to cash in some gains ahead of Jerome Powell's speech at Jackson Hole. Spot gold was down 0.2% to $1,495.80 per ounce, as of 08:05 GMT. The metal has lost nearly 1.2% so far this week, on track for its biggest weekly percentage decline since March 29. U.S. gold futures also slipped 0.2% to $1,505.50 an...

Gold prices head lower, set to snap weekly streak of gains ahead of Powell speech

Gold futures on Friday headed modestly lower ahead of much-awaited speech from Federal Reserve Chairman Jerome Powell near Jackson Hole, Wyo., which could provide some insights about health of the U.S. economy and the path of monetary policy ” key drivers for commodities. Powell is set to speak Friday at 10 a.m. Eastern Time. Powell's speech comes after Kansas City Fed Esther George and the Philadelphia Fed President Patrick Harker, said on CNBC that they would like to hold interest rates...

Abe: Seoul's Ending of Intelligence Deal Damages Mutual Trust

Japan's prime minister said Friday that South Korea's decision to end a military intelligence sharing deal with Tokyo damages mutual trust. Shinzo Abe, speaking a day after Seoul announced its decision, said Tokyo œwill continue to closely coordinate with the U.S. to ensure regional peace and prosperity, as well as Japan's security. In an escalation of its bitter dispute with Japan, South Korea decided Thursday to scrap its military intelligence sharing agreement with Tokyo, opening a...

Japan Says Curbs on Exports to South Korea Due to Broken Pledge
Thursday, 4 July 2019 00:20 WIB | GLOBAL |Global

Prime Minister Shinzo Abe said Wednesday that Japan cannot give South Korean exports preferential treatment because the country is not abiding by an agreement regarding wartime issues that Japan insists have been resolved.

Abe was objecting to criticism over escalating tensions between the two neighbors amid disputes over Koreans forced to work as laborers during World War II.

He was defending a decision announced Monday to impose restrictions on Japan's exports of semiconductor-related materials to South Korea. As of Thursday, exports of some materials used in manufacturing computer parts, including fluorinated polyimides used for displays, must apply for approval for each contract.

œWe did not intertwine historical issues with trade issues,'' Abe said. œThe issue of former Korean laborers is not about a historical issue but about whether to keep the promise between countries under international law and what to do when the promise is broken.''

Abe made the comment when asked about diplomacy during a party leaders' debate ahead of Tuesday's start of official campaigning for the July 21 Upper House elections.

Relations between the two main U.S. allies in East Asia have rapidly soured since South Korea's top court in October ordered Nippon Steel & Sumitomo Metal Corp. to pay 100 million won ($88,000) each to four plaintiffs forced to work for the company during Japan's 1910-1945 colonization of the Korean Peninsula. South Korea's top court ordered the seizure of local assets of the company after it refused to pay the compensation. Mitsubishi Heavy Industries also has refused an order by South Korea's Supreme Court to financially compensate 10 Koreans for forced labor during Japan's colonial era.

Abe said each country bears a responsibility to carry out export controls for national security reasons. œithin that obligation, if another country fails to keep its promise, we cannot give it preferential treatment like before,'' he said.

Abe and other officials have offered conflicting explanations for the move, citing both a lack of trust and unspecified security concerns.

On Tuesday, Chief Cabinet Secretary Yoshihide Suga cited national security concerns and œlack of trust'' after exchanges with Seoul for Japan's export control measures on South Korea. 

Japan is a major supplier of materials used to make the computer chips that run most devices, including Apple iPhones and laptop computers. Tokyo's decision is also expected to affect exports called œresists'' that are used for making semiconductors, and hydrogen fluoride used for semiconductors, pharmaceuticals and polymers such as nylon and Teflon.

Source : VOA

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POPULAR NEWS
Gold Futures Post a Gain For a 4th Week in a Row

Gold futures rallied Friday, with China™s plan for retaliatory tariffs on U.S. goods helping to boost investor interest in the haven metal. "Gold is likely to be most volatile during FOMC meetings and days (like today) when we receive a barrage of tweets from President [Donald] Trump and headlines concerning global trade," said Matthew Miller, equity analyst at CFRA Research. "The news regarding China's trade retaliation and [Trump's] multiple tweets attacking the Federal Reserve are...

Powell: U.S. in 'favorable' place, Fed will 'act as appropriate'

The U.S. economy is in a "favorable place" and the Federal Reserve will "act as appropriate" to keep the current economic expansion on track, Fed chair Jerome Powell said on Friday in remarks that gave few clues about whether the central bank will cut interest rates at its next meeting or not. The chair, under pressure from President Donald Trump to cut rates soon and deeply, listed a series of economic and geopolitical risks that the Fed is monitoring ” many of them, Powell noted, linked...

Gold set for worst week in nearly 5 months; Powell's speech in focus

Gold eased on Friday and was set for its worst week in nearly five months, as lack of clarity from the U.S. Federal Reserve on the outlook for interest rate cuts triggered investors to cash in some gains ahead of Jerome Powell's speech at Jackson Hole. Spot gold was down 0.2% to $1,495.80 per ounce, as of 08:05 GMT. The metal has lost nearly 1.2% so far this week, on track for its biggest weekly percentage decline since March 29. U.S. gold futures also slipped 0.2% to $1,505.50 an...

Gold prices head lower, set to snap weekly streak of gains ahead of Powell speech

Gold futures on Friday headed modestly lower ahead of much-awaited speech from Federal Reserve Chairman Jerome Powell near Jackson Hole, Wyo., which could provide some insights about health of the U.S. economy and the path of monetary policy ” key drivers for commodities. Powell is set to speak Friday at 10 a.m. Eastern Time. Powell's speech comes after Kansas City Fed Esther George and the Philadelphia Fed President Patrick Harker, said on CNBC that they would like to hold interest rates...

Abe: Seoul's Ending of Intelligence Deal Damages Mutual Trust

Japan's prime minister said Friday that South Korea's decision to end a military intelligence sharing deal with Tokyo damages mutual trust. Shinzo Abe, speaking a day after Seoul announced its decision, said Tokyo œwill continue to closely coordinate with the U.S. to ensure regional peace and prosperity, as well as Japan's security. In an escalation of its bitter dispute with Japan, South Korea decided Thursday to scrap its military intelligence sharing agreement with Tokyo, opening a...

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