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POPULAR NEWS
Gold Futures Post Their First Gain in 3 Sessions

Gold futures climbed on Monday to score their first gain in three sessions, moving back toward the nearly nine-year high they reached on Wednesday. Investors eyed the rising number of cases in the U.S., which lifted expectations for further central bank stimulus measures to offset the effects of the pandemic's hit to the economy. August gold rose $12.20, or 0.7%, to settle at $1,814.10 an ounce. Prices on Wednesday settled at $1,820.60, the highest for a most-active contract since Sept. 14,...

Gold Trades Steady as Virus, Equities’ Advance Weighed

Spot gold was steady in Asian trading as investors weigh virus developments in the U.S amid expectations Asian equities will open higher on Monday. Asia stocks are set for a higher open on Monday as investors look to the start of earnings season for clues on how companies are faring in the pandemic. Spot gold +0.1% to $1,801.02 at 7:40 a.m. in Singapore. Spot silver gained for second day. Bloomberg Dollar Spot Index

Dollar Falls as U.S. Earning Season Kicks Off

The U.S. dollar edged lower on Monday as investors looked to domestic corporate earnings and upcoming retail data to gauge whether guarded optimism on the country's economic outlook is justified. The index that measures the dollar against a basket of six other major currencies - which often serves as a safe-haven for investors seeking high-quality assets in moments of market volatility - was down 0.31% in North American morning trade. The dollar ended its third week of losses on Friday as...

Hong Kong Stocks Close Higher (Review)

Hong Kong stocks finished Monday on a positive note as hopes for a virus vaccine overshadowed concerns about a fresh wave of infections in the financial hub. The Hang Seng Index added 0.17 percent, or 44.71 points, to 25,772.12. The benchmark Shanghai Composite Index climbed 1.77 percent, or 59.96 points, to 3,443.29 while the Shenzhen Composite Index on China's second exchange jumped 3.48 percent, or 78.39 points, to 2,329.40. Source : AFP

Oil Extends Drop on OPEC+ Taper Jitters and U.S.-China Tension

Oil dropped for a second day on expectations that OPEC+ will start winding down production cuts next month and as escalating tension between Washington and Beijing worsened sentiment across financial markets. Futures in New York fell below $40 a barrel after retreating 1.1% on Monday. OPEC+™s Joint Ministerial Monitoring Committee meets Wednesday and the group is expected to stick to its plan of tapering the cuts from August even as the coronavirus rages unabated in many...

Australia Holds Key Rate, Wagers Housing Revival to Lift Spirits
Tuesday, 5 November 2019 10:50 WIB | FISCAL & MONETARY |Ekonomi AustraliaRBA

Australia kept interest rates unchanged Tuesday, betting that a rebound in property prices will increase household wealth and confidence and see consumers more willing to part with their cash.

Reserve Bank chief Philip Lowe and his board left the cash rate at 0.75% in Sydney as they monitor the ongoing impact of three reductions since June. The decision was predicted by money markets and economists and comes as policy makers struggle to accelerate economic growth and rekindle inflation.

œGiven global developments and the evidence of the spare capacity in the Australian economy, it is reasonable to expect that an extended period of low interest rates will be required in Australia, Governor Lowe said in a statement announcing the decision. The board œis prepared to ease monetary policy further if needed to support sustainable growth in the economy.

Australia gained much-needed breathing space in its easing cycle when the Federal Reserve signaled last week it was pausing rate cuts. That is likely to cool upward pressure on an Aussie dollar that Lowe has struggled to contain in order to keep his nation™s exporters competitive and hiring.

While the RBA™s three-quarters of a percentage point of rate cuts -- the same as the Fed -- and Australian government tax rebates have failed to lift flagging consumer spirits, monetary policy easing has been a boon for housing.

Prices in Melbourne surged 2.3% in October, the biggest monthly gain in almost 10 years, and have jumped 6% since bottoming in May. Sydney isn™t far behind, advancing 1.7% last month and rebounding 5.3% since May.

Yet that wealth effect hasn™t translated into improved sentiment: consumer confidence has fallen in four of the five months since the RBA resumed easing; retail sales, meanwhile, are miserable and rose just 0.2% in September from a year earlier and actually fell 0.1% in volume terms in the third quarter.

Source : Bloomberg

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POPULAR NEWS
Gold Futures Post Their First Gain in 3 Sessions

Gold futures climbed on Monday to score their first gain in three sessions, moving back toward the nearly nine-year high they reached on Wednesday. Investors eyed the rising number of cases in the U.S., which lifted expectations for further central bank stimulus measures to offset the effects of the pandemic's hit to the economy. August gold rose $12.20, or 0.7%, to settle at $1,814.10 an ounce. Prices on Wednesday settled at $1,820.60, the highest for a most-active contract since Sept. 14,...

Gold Trades Steady as Virus, Equities’ Advance Weighed

Spot gold was steady in Asian trading as investors weigh virus developments in the U.S amid expectations Asian equities will open higher on Monday. Asia stocks are set for a higher open on Monday as investors look to the start of earnings season for clues on how companies are faring in the pandemic. Spot gold +0.1% to $1,801.02 at 7:40 a.m. in Singapore. Spot silver gained for second day. Bloomberg Dollar Spot Index

Dollar Falls as U.S. Earning Season Kicks Off

The U.S. dollar edged lower on Monday as investors looked to domestic corporate earnings and upcoming retail data to gauge whether guarded optimism on the country's economic outlook is justified. The index that measures the dollar against a basket of six other major currencies - which often serves as a safe-haven for investors seeking high-quality assets in moments of market volatility - was down 0.31% in North American morning trade. The dollar ended its third week of losses on Friday as...

Hong Kong Stocks Close Higher (Review)

Hong Kong stocks finished Monday on a positive note as hopes for a virus vaccine overshadowed concerns about a fresh wave of infections in the financial hub. The Hang Seng Index added 0.17 percent, or 44.71 points, to 25,772.12. The benchmark Shanghai Composite Index climbed 1.77 percent, or 59.96 points, to 3,443.29 while the Shenzhen Composite Index on China's second exchange jumped 3.48 percent, or 78.39 points, to 2,329.40. Source : AFP

Oil Extends Drop on OPEC+ Taper Jitters and U.S.-China Tension

Oil dropped for a second day on expectations that OPEC+ will start winding down production cuts next month and as escalating tension between Washington and Beijing worsened sentiment across financial markets. Futures in New York fell below $40 a barrel after retreating 1.1% on Monday. OPEC+™s Joint Ministerial Monitoring Committee meets Wednesday and the group is expected to stick to its plan of tapering the cuts from August even as the coronavirus rages unabated in many...

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