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POPULAR NEWS
Gold prices end higher for first time in 3 sessions

Gold rose on Tuesday, with prices finding support after posting two consecutive sessions of losses. Traders eyed the potential for a U.S.-China trade deal and awaited the outcome of the Federal Reserve's two-day policy meeting, which ends Wednesday. February gold lost $3.20, or 0.2%, to settle at $1,468.10 an ounce. Source: marketwatch

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...

Oil rises but US-China trade war weighs on demand outlook

Oil prices inched up on Tuesday as OPEC™s deal with associated producers last week to deepen output cuts in 2020 continued to provide a floor for prices, but U.S.-China trade tensions clouded the demand outlook. Brent crude was up 7 cents to $64.32 a barrel, and West Texas Intermediate oil settled up 22 cents at $59.24 a barrel. The benchmarks fell 0.2% and 0.3% respectively on Monday. Last week, the Organization of the Petroleum Exporting Countries and associated producers like Russia...

Gold prices settle higher, head lower after Fed decision

Gold futures settled higher on Wednesday, then inched lower in electronic trading after the Federal Reserve held a key U.S. interest rate steady at a range of 1.5% to 1.75%, as expected. Following the Fed news, which came after gold futures settled, February gold was at $1,473.10 an ounce in electronic trading. It had ended the session up $6.90, or 0.5%, at $1,475 an ounce. Source: Marketwatch

Gold Extends Post-Payrolls Recovery on Trade Fears

Gold prices rose again on Tuesday as fears spread that the U.S. and China won™t sign an interim trade deal before the next round of U.S. import tariffs kicks in on Sunday. Commerce Secretary Wilbur Ross, who already said last week that it would be better to postpone a trade deal with China until after next year™s election, told Fox Business News that it was more important to get a good deal than to get a quick one. Markets have taken the near-complete silence from Beijing and Washington...

RBA Monitoring Job Market Closely, to Adjust Rates If Needed
Tuesday, 16 July 2019 08:53 WIB | FISCAL & MONETARY |RBAEkonomi Australia

Australia's central bank is focused on the jobs market and said it will adjust policy if needed to support economic growth and keep inflation on track to return to target.

In minutes of its July 2 meeting, when it cut interest rates for a second month to a record-low 1%, the Reserve Bank noted wages growth remained low overall and œspare capacity was likely to remain in the labor market for some time.

The easing would œpromote stronger overall economic conditions, it said Tuesday. œThe extent of spare capacity in the economy, and the likely pace at which it would be absorbed, meant that a decline in interest rates was unlikely to encourage and unwelcome material pick-up in borrowing by households. 

Governor Philip Lowe executed the first back-to-back rate cuts in seven years in June-July, citing the bank's estimate that unemployment could fall to about 4.5% before triggering faster inflation. He had kept the cash rate on hold for almost three years prior in an effort to deflate a property bubble and discourage heavily-indebted households taking on more leverage.

While the RBA has conceded rate cuts at this level show diminishing returns, it expects the two reductions to lower the currency's level and free up cash for consumers and firms. Yet the former is in increasing doubt as major central banks from Washington to Tokyo to Brussels are also now easing, and not everyone can have a weaker exchange rate.

Board members noted œthe significant change in the expected path of monetary policy around the world, particularly in the U.S., the minutes said.

While the RBA is looking to push down unemployment from the current 5.2% level, it also acknowledged that forward-looking indicators suggest employment growth œwould moderate over coming months. While Australia has enjoyed a jobs boom in the past two years, it has been absorbed by a higher participation rate rather than a lower unemployment rate.

The RBA noted the jobless rates in major advanced economies were at œhistorically low levels and yet this had failed to translate into faster inflation, as Australia is also finding.

The bank reiterated in its concluding paragraph: œthe board would continue to monitor developments in the labor market closely and adjust monetary policy if needed to support sustainable growth in the economy and the achievement of the inflation target over time.

Growth slowed in recent quarters under as households reined in spending in response to falling property prices. These have begun to stabilize and the RBA's bullish case is that a combination of this, interest-rate and tax cuts, infrastructure expansion and renewed resource investment will revive the economy.

Source : Bloomberg

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POPULAR NEWS
Gold prices end higher for first time in 3 sessions

Gold rose on Tuesday, with prices finding support after posting two consecutive sessions of losses. Traders eyed the potential for a U.S.-China trade deal and awaited the outcome of the Federal Reserve's two-day policy meeting, which ends Wednesday. February gold lost $3.20, or 0.2%, to settle at $1,468.10 an ounce. Source: marketwatch

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...

Oil rises but US-China trade war weighs on demand outlook

Oil prices inched up on Tuesday as OPEC™s deal with associated producers last week to deepen output cuts in 2020 continued to provide a floor for prices, but U.S.-China trade tensions clouded the demand outlook. Brent crude was up 7 cents to $64.32 a barrel, and West Texas Intermediate oil settled up 22 cents at $59.24 a barrel. The benchmarks fell 0.2% and 0.3% respectively on Monday. Last week, the Organization of the Petroleum Exporting Countries and associated producers like Russia...

Gold prices settle higher, head lower after Fed decision

Gold futures settled higher on Wednesday, then inched lower in electronic trading after the Federal Reserve held a key U.S. interest rate steady at a range of 1.5% to 1.75%, as expected. Following the Fed news, which came after gold futures settled, February gold was at $1,473.10 an ounce in electronic trading. It had ended the session up $6.90, or 0.5%, at $1,475 an ounce. Source: Marketwatch

Gold Extends Post-Payrolls Recovery on Trade Fears

Gold prices rose again on Tuesday as fears spread that the U.S. and China won™t sign an interim trade deal before the next round of U.S. import tariffs kicks in on Sunday. Commerce Secretary Wilbur Ross, who already said last week that it would be better to postpone a trade deal with China until after next year™s election, told Fox Business News that it was more important to get a good deal than to get a quick one. Markets have taken the near-complete silence from Beijing and Washington...

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