Since the Fed's final rate hike, the dollar and gold have been positively correlated. Gold against foreign currencies is at new all time highs, gold breaks $1600 and gold and the dollar are rising together.Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes m...Read More
- Coronavirus may be worse than anyone thought, but why aren't the markets worried?- Gold mining stocks looking positive again.- Underlying weakness in the dollar being revealed in gold.- Obama and Trump are fighting over a booming economy that doesn't exist.- 1/3rd of Americans run out of money between paychecks.- Over 25% of households spend half or more of their income on rent.- Delinquencies o...Read More
Foreign buying of Treasuries in 2019 hit their largest level in seven years, data from the U.S. Treasury Department showed on TuesdayContinue...Read More
- Trade war between two superpowers continues to escalate- White House likely to impose steep tariffs on aluminium and steel imports on 'national security grounds'- US may impose global tariff of at least 24% on imports of steel and 7.7% on aluminium- China "will certainly take necessary measures to protect our legitimate rights."- China is USA's largest trading partner, fastest-growing market f...Read More
By Hideyuki SanoTOKYO, Feb 20 (Reuters) - The dollar steadied on Tuesday after pulling ahead from a three-year low against a currency basket the previous day, though it was dogged by growing concerns a ballooning fiscal deficit in the United States could disrupt the economy.The dollar index stood at 89.215, trading about one percent above Friday's three-year low of 88.251.The U.S. currency has bee...Read More
(Fixes format error)SYDNEY, Feb 20 (Reuters) - Australia's central bank mapped out a steady course for rates at its first meeting of 2018 this month, and indicated a pick-up in wage growth was necessary to ensure a much-needed recovery in inflation. Minutes of the Reserve Bank of Australia's (RBA) January meeting showed policy makers had become more confident about the domestic outlook, thanks i...Read More
* Mitsubishi Corp to raise stake in MM to about 20 pct - Nikkei* Nikkei reports deal worth about $1.1 bln (Adds companies' comments)Feb 20 (Reuters) - Trading house Mitsubishi Corp said on Tuesday it was considering raising its stake in Mitsubishi Motors via a tender offer, a deal that the Nikkei newspaper reported could be worth about $1.1 billion.Mitsubishi Corp said in a statement it was consid...Read More
* Says 2 pct price growth would show deflation defeated* Follows news of longest growth spurt since bubble days (Adds quotes, context)By Stanley WhiteTOKYO, Feb 20 (Reuters) - Finance Minister Taro Aso said on Tuesday that Japan has essentially escaped from the economic malaise linked to asset price deflation, although policymakers need to do more."We have a 2 percent consumer price target, a...Read More
MEXICO CITY, Feb 19 (Reuters) - Private equity fund Nexxus Capital said on Monday it plans to invest $350 million over 12 to 18 months in small- and medium-sized firms with high exposure to middle-class consumers in Mexico, Spain and Portugal.Nexxus, a Mexico City-based fund that has taken several firms public in recent years, said it will target Mexico for the country's young population coveted b...Read More
Feb 20 (Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATECOUNTRY AUCTION DETAILS 20-FebGermany Auction of 2-year Treasury notes20-FebSpain Auction of 3- and 9-month Treasury bills20-FebUnited States Sale of 2-year notes21-FebUnited States Sale of 2-year floating rate notes21-FebUnited States Sale of 5-year notes21-Fe...Read More
Feb 20 (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 -----------------------------------------------------------TUESDAY, FEBRUARY 20 MANILA - Philippines central bank Governor Nestor Espenil...Read More
Feb 20 (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 -----------------------------------------------------------TUESDAY, FEBRUARY 20** BRUSSELS - ECB Vice President Vitor Constancio participates in ECOFIN meet...Read More
Source: Clive Maund for Streetwise Reports 02/18/2018Silver has zero appeal for momentum traders now, but technical analyst Clive Maund believes that is going to change.Silver is completely "off the radar" for most investors right now, which is just the way we like it when we are buying, however, as we will see, there are good reasons to believe that this will not be the case for much longer.O...Read More
TOKYO, Feb 20 (Reuters) - Finance Minister Taro Aso said on Tuesday that Japan's economy has basically escaped from economic malaise associated with asset price deflation.Aso, speaking with reporters after a cabinet meeting, said the government and the Bank of Japan still need to work together to achieve the central bank's 2 percent inflation target, because achieving this goal would offer proof t...Read More
Feb 20 (Reuters) - Trading house Mitsubishi Corp plans to about double its interest in Mitsubishi Motors to around 20 percent, Nikkei reported on Tuesday.Mitsubishi Corp, which held a 9.2 percent interest in Mitsubishi Motors as of last September, will spend about 120 billion yen ($1.13 billion) to buy additional shares through a tender offer, Nikkei reported. Mitsubishi Heavy Industries and Bank...Read More
SYDNEY, Feb 20 (Reuters) - Australian households carry relatively high levels of debt that could lead to financial difficulty in a downturn, but the overall level of stress is currently low and not a threat to the banking system, a top central banker said on Tuesday.In a speech at a responsible lending summit, Reserve Bank of Australia (RBA) Assistant Governor for the financial systemMichele Bullo...Read More
(Adds quote and political context)BRASILIA, Feb 19 (Reuters) - Brazil's political affairs minister Carlos Marun said on Monday that passage of a bill to overhaul the country's costly social security system has effectively ground to a halt in Congress and would become a campaign issue in this year's election.Marun spoke to reporters after the head of the Senate, Eunicio Oliveira, said the federal...Read More
Feb 20 (Reuters) - Australian shares are set to fall at Tuesday's open, tracking weakening metal prices on the London Metal Exchange.Copper fell 1.6 percent on Monday, while nickel ended 2.3 percent lower.Australian share price index futures fell about 0.6 percent, or 34 points, to 5,869, a 72.6-point discount to the underlying S&P/ASX 200 index close. The benchmark added 0.6 percent on Monday...Read More
Feb 20 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,941.637.6NZX 50**8,129.57 0.18DJIA**25,219.3819.01 NIKKEI**22,149.21428.96Nasdaq**7,239.465-16.965 FTSE**7,247.66 -47.04S&P 500** 2,732.22 1.02Hang Seng** 31,115.43599.83SPI 200 Fut 5,869-34.00STI** 3,487.88 44.37SSEC**3,199.4757 14.52 KOSPI** 2,442.82 20.99---------------------------------------------------------...Read More
BERLIN, Feb 19 (Reuters) - German builder Hochtief said on Monday it will lower its bid for Spain's Abertis if the infrastructure firm pays a dividend.Hochtief, majority-owned by Spanish builder ACS , has been competing with Italy's largest motorway operator Atlantia in a 17 billion-euro ($21.09 billion) bid battle for Abertis.Essen-based Hochtief said it will reduce its offer of 18.76 euros for A...Read More