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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...

Gold Hits New 7-Year High as Virus Prompts More Upgrades

Gold prices surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China. The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data). By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker...

Oil Recovery Falters in Face of Renewed Concern Over Virus

Oil fell, paring this week™s gain, as renewed concern over the impact of the coronavirus overshadowed hopes that China™s stimulus efforts will cushion the blow to demand. Futures in New York fell 1.6%, yet remain about 2% higher this week after China, South Korea and Singapore started rolling out measures to protect economic growth as the virus hits businesses and travel. Commodities had rallied prematurely, focusing on the planned stimulus and ignoring the immediate disruption, according...

Coronavirus Cases in Hubei Rise After Declining for 2 Days

The number of new coronavirus cases in China's Hubei province rose Friday after two straight days of declines, but the increase was still the smallest since the end of January. The Hubei health commission reported 411 new cases Friday, up from Thursday's count of 349. It also reported 115 new deaths. Hubei, and its provincial capital of Wuhan, is where the outbreak began in December. World Health Organization Director-General Tedros Adhanom Ghebreyesus said Thursday that the numbers out of...

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,...

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...

Gold Hits New 7-Year High as Virus Prompts More Upgrades

Gold prices surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China. The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data). By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker...

Oil Recovery Falters in Face of Renewed Concern Over Virus

Oil fell, paring this week™s gain, as renewed concern over the impact of the coronavirus overshadowed hopes that China™s stimulus efforts will cushion the blow to demand. Futures in New York fell 1.6%, yet remain about 2% higher this week after China, South Korea and Singapore started rolling out measures to protect economic growth as the virus hits businesses and travel. Commodities had rallied prematurely, focusing on the planned stimulus and ignoring the immediate disruption, according...

Coronavirus Cases in Hubei Rise After Declining for 2 Days

The number of new coronavirus cases in China's Hubei province rose Friday after two straight days of declines, but the increase was still the smallest since the end of January. The Hubei health commission reported 411 new cases Friday, up from Thursday's count of 349. It also reported 115 new deaths. Hubei, and its provincial capital of Wuhan, is where the outbreak began in December. World Health Organization Director-General Tedros Adhanom Ghebreyesus said Thursday that the numbers out of...

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,...

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