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POPULAR NEWS
Gold Notches Second Straight Gain, Adds to Climb Toward 1-Week High

Gold futures on Tuesday marked a second gain in a row, extending a climb to the highest price in about a week. Traders continued to monitor developments tied to the attacks on Saudi Arabian oil-infrastructure as they shifted focus to the Federal Reserve decision Wednesday on interest rates. December gold on Comex tacked on $1.90, or 0.1%, to settle at $1,513.40 an ounce, after a 0.8% gain on Monday. Prices for the most-active contract marked their highest settlement since Sept. 6 for a...

Gold Posts Third Straight Gain Ahead of Fed Policy Decision

Gold posted a third straight gain before the conclusion of the Federal Reserve meeting where policy makers are widely expected to cut interest rates Wednesday. The Fed meeting comes amid increased volatility in the U.S. money markets that raises the odds for the central bank to expand its balance sheet. From 2008 to 2011, the Fed bought $2.3 trillion of debt, sending gold to a record that year. Bullion prices also advanced as investors weighed the impact of...

Oil Steadies as Saudis Pledge Swift Return of Lost Production

Oil held its decline from the dramatic spike earlier in the week as supply assurances from Saudi Arabia and the International Energy Agency calmed the market after the devastating weekend attacks. West Texas Intermediate crude for October delivery rose 8 cents, or 0.1%, to $58.19 a barrel on the New York Mercantile Exchange as of 10:09 a.m. in Singapore. It dropped 2.1% Wednesday following a 5.7% decline on Tuesday. Brent for November settlement added 6 cents...

U.S. Stocks End Modestly Higher Ahead Of Fed Decision

U.S. stocks finished with modest gains Tuesday, a day ahead of the outcome of a Federal Reserve policy meeting that's expected to deliver a rate cut. The Dow Jones Industrial Average rose around 31 points, or 0.1%, to end near 27,108, according to preliminary figures, while the S&P 500 gained around 8 points, or 0.3%, to close near 3,006. The Nasdaq Composite finished near 8,186, a gain of around 32 points, or 0.4%. Stocks bounced back from modest losses seen a day earlier when oil prices...

Hong Kong Shares Fall For Third Day

Hong Kong stocks finished Wednesday with losses, extending a sell-off to a third day as traders fret over the impact of protests on the city, while they are awaiting a key Federal Reserve policy decision later in the day. The Hang Seng Index eased 0.13 percent, or 36.12 points, to 26,754.12. The benchmark Shanghai Composite Index edged up 0.25 percent, or 7.54 points, to 2,985.66 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.26 percent, or 4.26...

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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RBA Sees Risk of Property-Price Spike as House-Building Dwindles...
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ECB Cuts Rates, Restarts QE to Fight Slowdown as Draghi Era Ends...
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POPULAR NEWS
Gold Notches Second Straight Gain, Adds to Climb Toward 1-Week High

Gold futures on Tuesday marked a second gain in a row, extending a climb to the highest price in about a week. Traders continued to monitor developments tied to the attacks on Saudi Arabian oil-infrastructure as they shifted focus to the Federal Reserve decision Wednesday on interest rates. December gold on Comex tacked on $1.90, or 0.1%, to settle at $1,513.40 an ounce, after a 0.8% gain on Monday. Prices for the most-active contract marked their highest settlement since Sept. 6 for a...

Gold Posts Third Straight Gain Ahead of Fed Policy Decision

Gold posted a third straight gain before the conclusion of the Federal Reserve meeting where policy makers are widely expected to cut interest rates Wednesday. The Fed meeting comes amid increased volatility in the U.S. money markets that raises the odds for the central bank to expand its balance sheet. From 2008 to 2011, the Fed bought $2.3 trillion of debt, sending gold to a record that year. Bullion prices also advanced as investors weighed the impact of...

Oil Steadies as Saudis Pledge Swift Return of Lost Production

Oil held its decline from the dramatic spike earlier in the week as supply assurances from Saudi Arabia and the International Energy Agency calmed the market after the devastating weekend attacks. West Texas Intermediate crude for October delivery rose 8 cents, or 0.1%, to $58.19 a barrel on the New York Mercantile Exchange as of 10:09 a.m. in Singapore. It dropped 2.1% Wednesday following a 5.7% decline on Tuesday. Brent for November settlement added 6 cents...

U.S. Stocks End Modestly Higher Ahead Of Fed Decision

U.S. stocks finished with modest gains Tuesday, a day ahead of the outcome of a Federal Reserve policy meeting that's expected to deliver a rate cut. The Dow Jones Industrial Average rose around 31 points, or 0.1%, to end near 27,108, according to preliminary figures, while the S&P 500 gained around 8 points, or 0.3%, to close near 3,006. The Nasdaq Composite finished near 8,186, a gain of around 32 points, or 0.4%. Stocks bounced back from modest losses seen a day earlier when oil prices...

Hong Kong Shares Fall For Third Day

Hong Kong stocks finished Wednesday with losses, extending a sell-off to a third day as traders fret over the impact of protests on the city, while they are awaiting a key Federal Reserve policy decision later in the day. The Hang Seng Index eased 0.13 percent, or 36.12 points, to 26,754.12. The benchmark Shanghai Composite Index edged up 0.25 percent, or 7.54 points, to 2,985.66 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.26 percent, or 4.26...

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