* Results-based optimism overshadowed by U.S. caution* Materials offset gains in other sectors* BHP falls sharply after H1 results By Aaron SaldanhaFeb 21 - Australian shares slipped on Wednesday as nervousness spillingover from U.S. markets overshadowed positive earnings news from many domestic companies, while index heavyweight BHP fell hard after reporting its half-year results on Tuesday. The...Read More
By Wayne ColeSYDNEY, Feb 21 (Reuters) - Australian wages rose a fraction faster last quarter but private-sector growth stayed near historic lows as penny-pinching by business became an ever-greater deadweight on consumer spending and inflation. The local dollar edged up only a touch to $0.7892 as the report was not nearly strong enough to make a rise in interest rates any more likely this year.Wed...Read More
(Corrects location for Rob Thummel, portfolio manager at energy investment manager Tortoise Capital in Leawood, Kansas in paragraph 14.)* UAE: OPEC, allies to study long-term cooperation in June* Genscape says crude at Cushing hub falls 2.1 mln bbls- trade* OPEC research head: oil pact has cut surplus to 74 mln bbls* Dollar index hits six-day high, weighs on oil* U.S. crude stocks seen higher for...Read More
Feb 21 (Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATECOUNTRY AUCTION DETAILS21-FebUnited States Sale of 2-year floating rate notes21-FebUnited States Sale of 5-year notes21-FebSwedenAuction of government bonds22-FebUnited States Sale of 7-year notes22-FebJapan 3-month discount bill auction22-FebJapan Auction of 2...Read More
Feb 21 (Reuters) - For other diaries, please see:Top Economic Events Government Debt Auctions Political and General News Events Index of All Diaries Guide to Economic Indicators -----------------------------------------------------------This Diary is filed daily. ** Indicates new events ----------------------------------------------------------- THURSDAY, FEBRUARY 22 WARSAW - National Bank of Pola...Read More
Feb 21 (Reuters) -For other diaries, please see:U.S. Federal Reserve Polling Unit Diary Today in Washington Political and General News -----------------------------------------------------------This Diary is filed daily. ** Indicates new events ----------------------------------------------------------- WEDNESDAY, FEBRUARY 21LONDON - Bank of England Governor Mark Carney, Deputy Governor Ben Broadb...Read More
SEOUL, Feb 21 (Reuters) - South Korea's central bank chief said on Wednesday the Bank of Korea is prepared to respond to any negative impact fromfaster-than-expected policy tightening in the U.S."If (the Fed moves) faster than expected, it will immediately impact international financial markets and also domestic markets as well, so we're prepared to respond to such a scenario," Governor...Read More
(Repeats story that ran on Feb 20)* Kuroda's reappointment signals policy status quo* Reflationist deputy, Wakatabe, wants more bond buying* Wakatabe may oppose attempts to dial back stimulus* But other deputy, Amamiya, may wield more influence over policy By Leika KiharaTOKYO, Feb 20 (Reuters) - The incoming Bank of Japan leadership looks similar to the one going out but its mission ahead will...Read More
Gold traded dramatically lower as a direct result of both selling pressure and a stronger U.S. dollar, which began after the conclusion of the three-day holiday yesterday. As of 2:30 PM Eastern standard time, April gold futures are currently down $23.20 (-1.72%) and fixed at $1,333 per ounce. The price decline began modestly as trading resumed on Monday and accelerated into trading overseas last n...Read More
(Adds details, activity, updates prices to close)TORONTO, Feb 20 (Reuters) - Canada's main stock index closed lower on Tuesday, following a mixed session, with weakness among gold mining stocks offsetting gains for the energy group.The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 13.2 points, or 0.1 percent at 15,439.44. Just three of the index's 10 main groups ended lo...Read More
* This week's sales to raise $48 bln in new cash for Treasury* Analysts cautious about 5-, 7-year note auctions* Five-year yield near 8-year peak* Seven-year yield highest since 2011 (Adds historical context on issuance)By Richard LeongNEW YORK, Feb 20 (Reuters) - Some of the U.S. government's short-term borrowing costs rose to their highest level in more than nine years on Tuesday as the governme...Read More
* U.S. sells $28 bln 2-year notes to lukewarm demand* U.S. 5-year yield hits near 8-year peak before supply* Traders await Fed's Jan. 30-31 minutes on rate-hike clues* Wall Street losses stoke safe-haven bids for bonds (Adds context of second biggest weekly issuance in paragraph 2)By Richard LeongNEW YORK, Feb 20 (Reuters) - U.S. Treasury yields rose on Tuesday with the benchmark 10-year yield hov...Read More
BUENOS AIRES, Feb 20 (Reuters) - Argentina's central bank cut interest rates on its short-term securities on Tuesday in its monthly auction, the second straight reduction since the government loosened its inflation targets in late December.The monetary authority sold 411.011 billion pesos ($20.72 billion) in Lebac securities, compared with the 492.878 billion pesos' worth of securities that mature...Read More
Cryptocurrency prices were mixed Tuesday, with the No. 1 digital currency in the green, reaching its highest level since Jan. 28. The torrid start to the year for crypto investors is slowly abating, with bitcoinBTCUSD, -4.98% rising to an intraday high of $11,746.23, according to news and research site CoinDesk. The recovery has bitcoin on track to record its sixth daily gain in the past seven s...Read More
(Adds I/B/E/S estimates, fourth-quarter details)Feb 20 (Reuters) - U.S. shale oil producer Concho Resources Inc posted a better-than-expected quarterly profit on Tuesday, helped by higher crude prices, and forecast a 16-20 percent rise in total production for 2018 from a year earlier.The company estimated capital expenditure for 2018 at between $1.9 billion and $2.1 billion, higher than its 2017...Read More
After surging higher on Valentine's Day in the wake of a hotter than expected CPI report, gold prices have consolidated and have formed a bull flag pattern. This is a pause that refreshes higher, and accelerates on an upside breakout. The rebound in stock prices did not seem to effect gold prices, but the surge in bond yields are helping the dollar gain traction which is weighing on gold bar price...Read More
Improved market mood and soft physical demand hurt gold prices. Spot gold now bearish, at least as it holds below 1,335.35. The American dollar continues climbing against the safe-haven metal, despite demand against other currencies receded after Wall Street's opening. The improving mood among equities traders, with indexes bouncing from daily lows, and US Treasury yields holding on to gains...Read More
TORONTO, Feb 20 (Reuters) - Canada's main stock index dipped on Tuesday as a drop in the shares of gold mining companies offset gains for the energy group.The Toronto Stock Exchange's S&P/TSX composite index closed down 13.2 points, or 0.09 percent at 15,439.44. Just three of the index's 10 main groups ended lower. (Reporting by Fergal Smith; editing by Jonathan Oatis) Disclaimer: The views e...Read More
Feb 20 (Reuters) - U.S. shale oil producer Concho Resources Inc reported a profit for the fourth quarter on Tuesday compared with a year-ago loss, helped largely by a $398 million benefit from U.S. tax changes.The company posted net income of $267 million, or $1.79 per share, in the quarter ended Dec. 31, compared with a net loss of $125 million, or 86 cents per share, a year earlier. Total produc...Read More
Tom MilesGENEVA (Reuters) - South Korea has launched a wide-ranging complaint at the World Trade Organization to challenge the U.S. use of anti-subsidy and anti-dumping duties, citing their use on steel and transformers, a WTO filing showed on Tuesday.The United States has 60 days to settle the issue, after which time South Korea could ask the WTO to adjudicate.The complaint targets U.S. trade law...Read More