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POPULAR NEWS
Dow futures jump 250 points as focus remains on trade and the economy

U.S. stock index futures were set to open sharply higher on Friday morning as investors continued to focus on movements in the bond market and U.S.-China trade talks. Around 5:30 a.m. ET, Dow futures indicated a positive open of about 250 points. Futures on the S&P and Nasdaq were also both solidly higher. Wall Street closed Thursday's session on a more positive note, erasing some of the steep losses suffered earlier in the week. Market sentiment remains volatile, however, as concerns...

Gold Futures Settle Lower, Post a Third Straight Weekly Gain

Gold futures fell on Friday, but posted a gain for the week--their third in row. "Drivers for gold have included global growth in negative interest rate bonds, the decline in real interest rates in the U.S., [and] uncertainty regarding U.S./China trade policy and political unrest in Hong Kong," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. December gold fell by $7.60, or 0.5%, to settle at $1,523.60 on Comex. For the week, most-active contract prices rose by...

North Korea Fires More Weapons; Criticizes South Korea

North Korea has launched a fresh round of short-range weapons into the sea off its east coast, South Korea™s military reported - Pyongyang™s latest apparent outburst of anger at continued U.S.-South Korean military drills. The North fired two œunidentified projectiles Friday from Gangwon province in the northeast part of North Korea, according to a statement from Seoul™s Joint Chiefs of Staff. The weapons traveled about 230 kilometers, reaching a height of 30 kilometers, the...

Dow climbs 200 points at open but U.S. stock market set to book weekly loss amid recession jitters

Stocks opened higher Friday but Wall Street was still on track for weekly losses, as U.S. Treasury yields recovered from multiyear low and investors track U.S.-China trade negotiations. The Dow Jones Industrial Average gained 210 points, or 0.8%, at 25,789, and the S&P 500 index climbed 0.9% at 2,873, while the Nasdaq Composite Index advanced 0.8% to 7,845. Investing has been dominated by concerns about the health of the global economy, with an inversion of the yield curve, where...

Trump Says US Moving Rapidly Towards Trade Deal with Britain

President Donald Trump said on Thursday the United States and Britain were moving rapidly towards a deal on trade that would be "fantastic and big." "I think we'll make a fantastic and big trade deal with the UK," Trump told reporters before departing for a political rally in New Hampshire. "That's moving along rapidly." He said he had talked to British Prime Minister Boris Johnson on Wednesday and would be speaking with him again. "He and I are very much aligned," Trump said. The two...

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
Dow futures jump 250 points as focus remains on trade and the economy

U.S. stock index futures were set to open sharply higher on Friday morning as investors continued to focus on movements in the bond market and U.S.-China trade talks. Around 5:30 a.m. ET, Dow futures indicated a positive open of about 250 points. Futures on the S&P and Nasdaq were also both solidly higher. Wall Street closed Thursday's session on a more positive note, erasing some of the steep losses suffered earlier in the week. Market sentiment remains volatile, however, as concerns...

Gold Futures Settle Lower, Post a Third Straight Weekly Gain

Gold futures fell on Friday, but posted a gain for the week--their third in row. "Drivers for gold have included global growth in negative interest rate bonds, the decline in real interest rates in the U.S., [and] uncertainty regarding U.S./China trade policy and political unrest in Hong Kong," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. December gold fell by $7.60, or 0.5%, to settle at $1,523.60 on Comex. For the week, most-active contract prices rose by...

North Korea Fires More Weapons; Criticizes South Korea

North Korea has launched a fresh round of short-range weapons into the sea off its east coast, South Korea™s military reported - Pyongyang™s latest apparent outburst of anger at continued U.S.-South Korean military drills. The North fired two œunidentified projectiles Friday from Gangwon province in the northeast part of North Korea, according to a statement from Seoul™s Joint Chiefs of Staff. The weapons traveled about 230 kilometers, reaching a height of 30 kilometers, the...

Dow climbs 200 points at open but U.S. stock market set to book weekly loss amid recession jitters

Stocks opened higher Friday but Wall Street was still on track for weekly losses, as U.S. Treasury yields recovered from multiyear low and investors track U.S.-China trade negotiations. The Dow Jones Industrial Average gained 210 points, or 0.8%, at 25,789, and the S&P 500 index climbed 0.9% at 2,873, while the Nasdaq Composite Index advanced 0.8% to 7,845. Investing has been dominated by concerns about the health of the global economy, with an inversion of the yield curve, where...

Trump Says US Moving Rapidly Towards Trade Deal with Britain

President Donald Trump said on Thursday the United States and Britain were moving rapidly towards a deal on trade that would be "fantastic and big." "I think we'll make a fantastic and big trade deal with the UK," Trump told reporters before departing for a political rally in New Hampshire. "That's moving along rapidly." He said he had talked to British Prime Minister Boris Johnson on Wednesday and would be speaking with him again. "He and I are very much aligned," Trump said. The two...

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