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POPULAR NEWS
Gold futures post a nearly 4% weekly gain

Gold futures rallied on Friday, posting a gain of 3.9% for the week and logging their highest most-active contract settlement since February 2013. "Gold has broken out of its historical shackles as a niche asset... and is on its way to much higher levels," said Peter Grosskopf, chief executive officer at Sprott, in emailed commentary. April gold rose $28.30, or nearly 1.8%, to settle at $1,648.80 an ounce. The weekly percentage climb was the largest since June, according to FactSet...

Hong Kong Stocks Close Lower on Virus Worries (Review)

Hong Kong stocks closed sharply lower Friday as the rising toll from the deadly coronavirus outside China fanned fears the epidemic's impact on earnings and economic growth could be worse than anticipated. The Hang Seng Index fell 1.1 percent, or 300.35 points, to 27,308.81. Mainland China's benchmark Shanghai Composite Index closed up 0.3 percent, or 9.52 points, to 3,039.67. The Shenzhen Composite Index, which tracks stocks on China's second exchange, was up 1.1 percent, or 21.21 points,...

Stocks end lower, post weekly loss, as coronavirus spread fans fears of global slowdown

Stocks ended broadly lower Friday, leaving major indexes with weekly losses. Analysts tied weakness to worries about the spread of COVID-19 outside China and the potential impact on global economic growth and supply chains. The Dow Jones Industrial Average fell around 227 points, or 0.8%, to end near 28,993, according to preliminary figures, while the S&P 500 lost around 36 points, or 1.1%, to finish near 3,338. The Nasdaq Composite dropped around 174 points, or 1.8%, ending near...

Pompeo Meets with New Oman Leader

U.S. Secretary of State Mike Pompeo arrived in Oman Friday for a meeting with the country's new ruler, Sultan Haitham bin Tariq Al Said. Pompeo will also pay homage to relatives of Sultan Qaboos bin Said, who died in January. Oman has close ties with Iran and Saudi Arabia, where Pompeo departed from earlier Friday after a three-day visit. Pompeo and Saudi King Salman discussed regional security issues presented by Iran Thursday in Riyadh. Pompeo also met with Saudi Crown Prince Mohammed bin...

Oil futures finish lower for the session, but gain for the week

Oil futures fell on Friday, pressured by the possibility of a breakdown in the oil alliance between Saudi Arabia and Russia, as the market continues to worry that the spread of COVID-19 will slow energy demand. Saudi Arabia is weighing a break in its alliance with Russia and holding talks with Kuwait and the United Arab Emirates to discuss a cut of as much as 300,000 barrels a day, The Wall Street Journal reported Friday. Saudi Energy Minister Prince Abdulaziz bin Salman, however, told...

RBA releases quarterly Statement on Monetary Policy: Repeating the same dovishness
Friday, 9 August 2019 08:55 WIB | FISCAL & MONETARY |RBA

The Reserve Bank of Australia has released its quarterly Statement on Monetary Policy. This follows a recent hold in interest rates and a brief statement that indicated fairly modest changes compared to May.  "The RBA's œcentral scenario is for the Australian economy to grow by around 2½ per cent over 2019 and 2¾ per cent over 2020. Inflation is expected to take longer to return to target, œa little under 2 per cent over 2020 and a little above 2 per cent over 2021," analysts at Westpac explained.

"The Australian economy has been navigating a period of slow growth, with subdued growth in household income weighing on consumption spending. In contrast, employment growth has been strong. The response of labour supply has been even stronger, taking the participation rate to a record level. Despite the strong employment growth, the unemployment rate has increased to 5.2 per cent, where it has remained for three months. Domestic inflation pressures remain subdued. Housing-related inflation has been particularly soft lately, compounding the ongoing effects of spare capacity in the labour market and the resulting slow growth in labour costs."

Sees Dec 2019 GDP at 2.5%, Dec 2020 at 2.75% and June 2021 at 3.0%. Sees Dec 2019 at 1.5%, Dec 2020 at 1.75%, and Dec 2021 at 2.0%. Board prepared to ease policy if needed, watching labour market closely. Reasonable to expect extended period of low interest rates. Near-term risks to economic growth are more to the downside. RBA sees underlying inflation at 1.5% Dec 2019, 1.75% Dec 2020, 2% for both June 2021 and Dec 2021.

The RBA Monetary Policy Statement released by the Reserve bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negatvie (or bearish).

Source : FXstreet

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POPULAR NEWS
Gold futures post a nearly 4% weekly gain

Gold futures rallied on Friday, posting a gain of 3.9% for the week and logging their highest most-active contract settlement since February 2013. "Gold has broken out of its historical shackles as a niche asset... and is on its way to much higher levels," said Peter Grosskopf, chief executive officer at Sprott, in emailed commentary. April gold rose $28.30, or nearly 1.8%, to settle at $1,648.80 an ounce. The weekly percentage climb was the largest since June, according to FactSet...

Hong Kong Stocks Close Lower on Virus Worries (Review)

Hong Kong stocks closed sharply lower Friday as the rising toll from the deadly coronavirus outside China fanned fears the epidemic's impact on earnings and economic growth could be worse than anticipated. The Hang Seng Index fell 1.1 percent, or 300.35 points, to 27,308.81. Mainland China's benchmark Shanghai Composite Index closed up 0.3 percent, or 9.52 points, to 3,039.67. The Shenzhen Composite Index, which tracks stocks on China's second exchange, was up 1.1 percent, or 21.21 points,...

Stocks end lower, post weekly loss, as coronavirus spread fans fears of global slowdown

Stocks ended broadly lower Friday, leaving major indexes with weekly losses. Analysts tied weakness to worries about the spread of COVID-19 outside China and the potential impact on global economic growth and supply chains. The Dow Jones Industrial Average fell around 227 points, or 0.8%, to end near 28,993, according to preliminary figures, while the S&P 500 lost around 36 points, or 1.1%, to finish near 3,338. The Nasdaq Composite dropped around 174 points, or 1.8%, ending near...

Pompeo Meets with New Oman Leader

U.S. Secretary of State Mike Pompeo arrived in Oman Friday for a meeting with the country's new ruler, Sultan Haitham bin Tariq Al Said. Pompeo will also pay homage to relatives of Sultan Qaboos bin Said, who died in January. Oman has close ties with Iran and Saudi Arabia, where Pompeo departed from earlier Friday after a three-day visit. Pompeo and Saudi King Salman discussed regional security issues presented by Iran Thursday in Riyadh. Pompeo also met with Saudi Crown Prince Mohammed bin...

Oil futures finish lower for the session, but gain for the week

Oil futures fell on Friday, pressured by the possibility of a breakdown in the oil alliance between Saudi Arabia and Russia, as the market continues to worry that the spread of COVID-19 will slow energy demand. Saudi Arabia is weighing a break in its alliance with Russia and holding talks with Kuwait and the United Arab Emirates to discuss a cut of as much as 300,000 barrels a day, The Wall Street Journal reported Friday. Saudi Energy Minister Prince Abdulaziz bin Salman, however, told...

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