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POPULAR NEWS
Gold Futures Fall Sharply for The Session, Climb for The Month

Gold futures fell sharply on Tuesday, but scored a gain for month against a backdrop of ongoing worries about the spread of the coronavirus and overall losses in the stock market. June gold fell $46.60, or 2.8%, to settle at $1,596.60 an ounce. The contract, which is now the most active, was up 1.6% from its finish at $1,571.80 on Feb. 28, according to FactSet data. Source : Marketwatch

Gold Futures Settle Lower for a Second Session

Gold futures fell Monday for a second session, pressured as U.S. benchmark stock indexes climbed and the dollar strengthened. "Gold has been the answer to needed cash for the most part," said George Gero, managing director at RBC Wealth Management, following the record coronavirus-led retreat in the stock market. June gold fell $10.90, or 0.7%, to settle at $1,643.20 an ounce. The contract, which is now the most active, posted a loss of 0.4% on Friday. Source : Marketwatch

Gold Rose As Virus-Led Growth Fears Spur Safety Buying

Gold prices rose on Monday as investors sought safe havens amid fears over growing economic damage from the coronavirus after governments extended lockdowns to curtail its spread. Spot gold was up 0.3% at $1,621.89 an ounce. U.S. gold futures edged 0.1% higher to $1,625.70. Investors appetite for riskier assets remained weak as fears mounted that the global coronavirus shutdowns could last for months, sending European shares lower for a second straight session and oil prices to their weakest...

Gold Prices Slip After Big Weekly Gains

Gold prices slipped on Monday in Asia after recording their biggest weekly gains since 2008. Gold futures were down by 0.1% at $1,652.50 by 9:34 PM ET (2:34 GMT), after almost reaching the $1,700 mark last week amid fears about the economic impact damage from the pandemic. The Asian stock markets, which usually move in directions opposite to gold, also fell today. The COVID-19 pandemic continues to show no signs of abating as the World Health Organization said that there are now 638,146...

Gold Gains as Virus-Led Growth Fears Spur Safety Buying

Gold prices edged higher on Monday as investors sought safe havens, with fears about the economic damage from the coronavirus intensifying after governments extended lockdowns to curtail its spread. Spot gold was up 0.3% at $1,621.60 per ounce by 0941 GMT, while U.S. gold futures gained 0.3% to $1,629.30. Investors™ appetite for riskier assets remained weak as fears mounted that the global coronavirus shutdowns could last for months, sending European shares lower for a second straight...

ECB signals its ready to cut rates; opens door to renewed QE measures
Thursday, 25 July 2019 21:43 WIB | FISCAL & MONETARY |Bank Sentral Eropa ECBMario Draghi

The European Central Bank on Thursday made clear it stands ready to cut rates and deliver "highly accommodative" monetary policy, including additional asset purchases, in its effort to push stubbornly low inflation back toward its target amid signs of deteriorating economic conditions in the eurozone.

However, investors appeared to take the statement and subsequent remarks by European Central Bank President Mario Draghi with a grain of salt, lamenting a lack of clear-cut details of policy plans. The euro initially dived following the statement, while European bonds rallied, pushing down yields. Those moves were reversed during Draghi's news conference.

œPolicy makers have clearly not yet made up their mind on exactly what to do, said Jack Allen-Reynolds, economist at Capital Economics, in a note. œWe still think that they will cut the deposit rate to -0.5% in September [from -0.4%]. But by October, we suspect that they will have reached a consensus to relaunch QE, probably with a greater weight on corporate bonds.

QE stands for quantitative easing, in which central banks purchase financial assets to inject liquidity into the economy. The ECB ended its program of monthly bond purchases in December, but has continued to reinvest proceeds from maturing holdings to maintain the size of its balance sheet.

In a statement following its policy meeting in Frankfurt, the ECB Governing Council said it left rates unchanged but expects them to œremain at their present or lower levels at least through the first half of 2020¦ Previously, the ECB had said it expected rates to remain at œpresent levels over that period.

The ECB said policy makers œalso underlined the need for a highly accommodative stance of monetary policy for a prolonged period, as inflation rates, both realized and projected, have been persistently below levels that are in line with its aim.

The ECB said it had tasked committees with examining options on ways to reinforce its forward guidance on policy rates as well as œmitigating measures, such as the design of a tiered system of rates on reserves held at the central bank and œoptions for the size and composition of new net asset purchases.

Draghi said the decision on the statement wasn™t unanimous but was the product of a œbroad convergence of views. He played down disagreements, saying that any time a large number of policy options are discussed there were bound to be differing views.

Meanwhile, Draghi warned that the economic outlook in the region was getting œworse and worse, particularly for the manufacturing sector, thanks to continued global uncertainty tied to trade tensions, the looming British exit from the European Union and other factors. Moreover, he emphasized that policy makers were unhappy with stubbornly low inflation and said the ECB would take a œsymmetrical approach to its goal of inflation running near but just below 2%. Annual inflation in the eurozone was seen at 1.3% in June.

In effect, that means the ECB won™t view a 2% inflation pace as a cap ” a major shift, according to longtime ECB watchers like Pictet Wealth Management™s Frederik Ducrozet, who called it a œhugely important and unprecedented step.

Still, the broader ECB commentary on its œinflation problem and its determination to address it was œstark, wrote Nick Kounis and Aline Schuiling, economists at ABN AMRO, in a note.

These comments suggest that net asset purchases could ultimately persist through 2020, they said.

Traders had seen a nearly 50% chance the ECB would move at its July meeting to deliver a rate cut after another round of downbeat survey data from Germany, the shared-currency region™s largest economy, this week.

Instead, the central bank delivered what analysts saw as a clear-cut signal it is prepared to move as early as September to push its deposit rate further into negative territory while also weighing the possibility of resuming asset purchases.

The euro reversed an initial decline to rise 0.3% to $1.1172 versus the U.S. dollar, while the pan-European Stoxx 600 turned lower, falling 0.8% as U.S. stocks moved to the downside. European bonds initially rallied, sending yields lower and dragging down yields on U.S. Treasurys, but also reversed course. Yields, which move in the opposite direction of bond prices, across much of Europe and the U.S. were higher.

Source : Marketwatch

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POPULAR NEWS
Gold Futures Fall Sharply for The Session, Climb for The Month

Gold futures fell sharply on Tuesday, but scored a gain for month against a backdrop of ongoing worries about the spread of the coronavirus and overall losses in the stock market. June gold fell $46.60, or 2.8%, to settle at $1,596.60 an ounce. The contract, which is now the most active, was up 1.6% from its finish at $1,571.80 on Feb. 28, according to FactSet data. Source : Marketwatch

Gold Futures Settle Lower for a Second Session

Gold futures fell Monday for a second session, pressured as U.S. benchmark stock indexes climbed and the dollar strengthened. "Gold has been the answer to needed cash for the most part," said George Gero, managing director at RBC Wealth Management, following the record coronavirus-led retreat in the stock market. June gold fell $10.90, or 0.7%, to settle at $1,643.20 an ounce. The contract, which is now the most active, posted a loss of 0.4% on Friday. Source : Marketwatch

Gold Rose As Virus-Led Growth Fears Spur Safety Buying

Gold prices rose on Monday as investors sought safe havens amid fears over growing economic damage from the coronavirus after governments extended lockdowns to curtail its spread. Spot gold was up 0.3% at $1,621.89 an ounce. U.S. gold futures edged 0.1% higher to $1,625.70. Investors appetite for riskier assets remained weak as fears mounted that the global coronavirus shutdowns could last for months, sending European shares lower for a second straight session and oil prices to their weakest...

Gold Prices Slip After Big Weekly Gains

Gold prices slipped on Monday in Asia after recording their biggest weekly gains since 2008. Gold futures were down by 0.1% at $1,652.50 by 9:34 PM ET (2:34 GMT), after almost reaching the $1,700 mark last week amid fears about the economic impact damage from the pandemic. The Asian stock markets, which usually move in directions opposite to gold, also fell today. The COVID-19 pandemic continues to show no signs of abating as the World Health Organization said that there are now 638,146...

Gold Gains as Virus-Led Growth Fears Spur Safety Buying

Gold prices edged higher on Monday as investors sought safe havens, with fears about the economic damage from the coronavirus intensifying after governments extended lockdowns to curtail its spread. Spot gold was up 0.3% at $1,621.60 per ounce by 0941 GMT, while U.S. gold futures gained 0.3% to $1,629.30. Investors™ appetite for riskier assets remained weak as fears mounted that the global coronavirus shutdowns could last for months, sending European shares lower for a second straight...

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