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POPULAR NEWS
Gold falls 1% after robust US jobs data

Gold slid 1% on Friday as strong U.S. jobs data renewed bets the Federal Reserve would hold pat on interest rates and boosted demand for riskier assets, while supply-squeezed palladium soared to a new record high. U.S. job growth increased by the most in 10 months in November, confirming that the economy remained on a moderate expansion path despite a prolonged manufacturing slump. Spot gold slipped 1% to $1,461.01 per ounce. U.S. gold futures settled down 1.1% at $1,465.1 per...

Gold Futures Drop as U.S. Payrolls Rise More Than Expected

Gold futures plunged, erasing a weekly gain, as stronger-than-expected U.S. jobs data helped ease economic concerns that had fueled demand for the metal as a haven. Payrolls jumped 266,000, the most since January, according to a government report Friday that topped all estimates in a Bloomberg survey calling for 180,000 jobs. Gold has struggled to sustain recent rallies as resilient U.S. economic data and bets on progress toward a U.S.-China trade deal limit demand for the...

U.S. oil futures post biggest weekly rise since June

Oil futures settled higher on Friday, with U.S. prices up more than 7% for the week to mark their highest weekly percentage climb since June. Prices got a lift after the Organization of the Petroleum Exporting Countries and its allies announced an agreement to cut production by an additional 500,000 barrels a day starting in January. Including the 1.2 million barrels in reductions under the current pact, that will bring total output cuts to 1.7 million barrels a day from October 2018...

U.S. Jobs Trounce Forecasts With 266,000 Gain; Wages Heat Up

U.S. job gains roared back in November as unemployment matched a fresh half-century low and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts. Stock futures and the dollar jumped while Treasuries slid. Payrolls jumped 266,000, the most since January, after an upwardly revised 156,000 advance the prior month, according to a Labor Department reportFriday that topped all estimates in a Bloomberg survey calling for...

Oil on track for weekly gain as OPEC+ set to confirm supply cut

Oil prices fell on Friday, but were set for weekly gains ahead of the OPEC+ meeting which kicked off Friday in Vienna. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia - a grouping known as OPEC+ - agreed on Thursday to more output cuts to avert oversupply as economic growth stagnates amid the U.S.-China trade war. But OPEC stopped short of pledging action beyond March and analysts have questioned the impact of the latest curbs. Brent futures were...

RBA Sees Moderate Recovery Persisting, But No Wage-Growth Gains
Friday, 8 November 2019 07:58 WIB | FISCAL & MONETARY |Ekonomi AustraliaRBA

Australia™s central bank maintained its glass half full view, reinforcing that the economy has emerged from its soft patch, while forecasting no acceleration in wage growth and core inflation barely reaching the bottom of its target.

In its quarterly update of the economic outlook released in Sydney Friday, the Reserve Bank predicted the economy would grow 2.25% this year, lifting to 2.75% in December 2020 and 3% in 2021. It said the expansion will be underpinned by consumption fueled by interest-rate and tax cuts and rising house prices.

œThese forecasts imply some progress towards the medium- term inflation and full-employment goals, but this progress is expected to be gradual, the RBA™s Statement on Monetary Policy said. It noted world markets œappear to have passed a trough of pessimism and this allows œtime to assess the effects of the recent easing of monetary policy and the global picture.

The RBA reiterated that it™s prepared to ease further if needed, following three rate cuts since June to try to reinvigorate growth and hiring. Unemployment is predicted to hold around the current 5.2% through to the end of next year, before dropping to 5%, and the RBA acknowledged this is still œsomewhat short of full employment.

In a section reflecting on October™s decision to reduce the cash rate to 0.75%, the RBA said the board was mindful rates were already very low and œeach further cut brings closer the point at which other policy options might come into play. That appeared to be a reference to unorthodox measures.

Source : Bloomberg

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POPULAR NEWS
Gold falls 1% after robust US jobs data

Gold slid 1% on Friday as strong U.S. jobs data renewed bets the Federal Reserve would hold pat on interest rates and boosted demand for riskier assets, while supply-squeezed palladium soared to a new record high. U.S. job growth increased by the most in 10 months in November, confirming that the economy remained on a moderate expansion path despite a prolonged manufacturing slump. Spot gold slipped 1% to $1,461.01 per ounce. U.S. gold futures settled down 1.1% at $1,465.1 per...

Gold Futures Drop as U.S. Payrolls Rise More Than Expected

Gold futures plunged, erasing a weekly gain, as stronger-than-expected U.S. jobs data helped ease economic concerns that had fueled demand for the metal as a haven. Payrolls jumped 266,000, the most since January, according to a government report Friday that topped all estimates in a Bloomberg survey calling for 180,000 jobs. Gold has struggled to sustain recent rallies as resilient U.S. economic data and bets on progress toward a U.S.-China trade deal limit demand for the...

U.S. oil futures post biggest weekly rise since June

Oil futures settled higher on Friday, with U.S. prices up more than 7% for the week to mark their highest weekly percentage climb since June. Prices got a lift after the Organization of the Petroleum Exporting Countries and its allies announced an agreement to cut production by an additional 500,000 barrels a day starting in January. Including the 1.2 million barrels in reductions under the current pact, that will bring total output cuts to 1.7 million barrels a day from October 2018...

U.S. Jobs Trounce Forecasts With 266,000 Gain; Wages Heat Up

U.S. job gains roared back in November as unemployment matched a fresh half-century low and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts. Stock futures and the dollar jumped while Treasuries slid. Payrolls jumped 266,000, the most since January, after an upwardly revised 156,000 advance the prior month, according to a Labor Department reportFriday that topped all estimates in a Bloomberg survey calling for...

Oil on track for weekly gain as OPEC+ set to confirm supply cut

Oil prices fell on Friday, but were set for weekly gains ahead of the OPEC+ meeting which kicked off Friday in Vienna. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia - a grouping known as OPEC+ - agreed on Thursday to more output cuts to avert oversupply as economic growth stagnates amid the U.S.-China trade war. But OPEC stopped short of pledging action beyond March and analysts have questioned the impact of the latest curbs. Brent futures were...

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