(Kitco News) - This year will be filled with a number of risks surrounding global economy, which makes gold the perfect “defensive play” of 2018, said Mitsubishi analyst Jonathan Butler.Gold will remain supported throughout this year due to “favorable real rate environment and a subdued U.S. dollar,” Butler wrote in a note on Wednesday.The Federal Reserve kept its rates unc...Read More
Feb 1(Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATE COUNTRY AUCTION DETAILS 1-FebJapan 3-month discount bill auction 1-FebJapan Auction of 10-year government bonds 1-FebSpain Bond auction 1-FebSwedenAuction of inflation-linked government bonds 5-FebNetherlands DTC auction 5-FebFranceAuction of BTF Treasury notes...Read More
The Federal Open Market Committee says current conditions indicate that the overnight funds rate should remain anchored at 1.25 to 1.5 percent. "Inflation on a 12-month basis is expected to move up this year and to stabilize around the Committee's 2 percent objective over the medium term," the Fed statement says. The decision came at Janet Yellen's final meeting as Fed chair. Jeff Cox| @JeffCo...Read More
Feb 1 (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 1PRAGUE - Czech National Bank hold...Read More
Feb 1 (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 ----------------------------------------------------------- THURSDAY, FEBRUARY 1BELGRADE - EIB Vice President Dario Scannapieco will hold a press conference...Read More
(Adds detail, analyst comment)* Jan CPI +1.0 pct y/y (Reuters poll +1.3 pct)* Jan CPI +0.4 pct m/m (Reuters poll +0.7 pct) By Cynthia Kim and Dahee KimSEOUL, Feb 1(Reuters) - South Korea's annual inflation fell in January to its slowest in 17 months as fresh food costs declined, dropping further away from the central bank's 2 percent target. The consumer price index rose 1.0 percent in January f...Read More
(Adds data on other business units)By Salvador Rodriguez and Pushkala AripakaJan 31 (Reuters) - Microsoft Corp beat Wall Street's profit forecast on Tuesday, helped by growth in its cloud computing business, but took a $13.8 billion one-time charge due to the new U.S. tax law. Stock of the world's largest software company, which have risen almost 50 percent over the past 12 months, initially fell...Read More
SYDNEY, Feb 1 (Reuters) - Home prices across Australia's major cities fell further in January as weakness spread out from the Sydney market in the face of tighter rules on investment lending, a relief to regulators but a potential drag on consumer spending power.Property consultant CoreLogic said on Thursday its index of home prices for the combined capital cities slipped 0.5 percent in January, a...Read More
All technical traders, whether classically trained in Western technical analysis or Eastern technical analysis, look for specific patterns that can define pivot points or key reversals within a market.Many Eastern market technicians utilize the patterns provided through Japanese candlesticks as a viable means to look for pivot points in the market. These patterns include the engulfing bullish and...Read More
(Adds CBO debt ceiling projection)WASHINGTON, Jan 31 (Reuters) - The U.S. Treasury said on Wednesday it planned to hold larger debt auctions because of the winding down of the Federal Reserve's bond-buying program, but warned it would only be able to pay all of the federal government's bills through February."Based upon available information, Treasury expects to be able to fund the governmen...Read More
(Adds dealer quotes and details on Fed decision and Trudeau comments, updates prices)* Canadian dollar at C$1.2300, or 81.30 U.S. cents* Loonie touches its strongest since Sept. 20 at C$1.2250* Currency rises 2.3 percent in January* 2-year yield touches its highest in 6-1/2 years By Fergal SmithTORONTO, Jan 31 (Reuters) - The Canadian dollar rose to a four-month high against its U.S. counterpart...Read More
SYDNEY, Feb 1 (Reuters) - Australian manufacturers enjoyed another month of solid expansion in January with demand, both domestically and from offshore, strong enough to allow firms to raise prices to protect profit margins, a survey showed on Thursday.The CBA-Markit Purchasing Managers Index (PMI) of activity dipped to 55.4 in January, from a historically high 57.1 the month before, but remained...Read More
HELSINKI, Jan 31 (Reuters) - Finnish government's investment arm Solidium said on Wednesday it would trim its stake in SSAB by launching an equity offering of about 3.6 percent of shares in the Swedish steelmaker.At Wednesday's closing price, the value of the offered stake of B-class shares was about 155 million euros ($192 million).Solidium currently owns about 17 percent of the company, courtesy...Read More
* Fed hints of further rate hikes on expected inflation pickup* U.S. leans on short-dated debt to fund growing deficit* ADP data shows further improvement in U.S. labor market* Global bond markets suffer worst month in over a year (Repeats to additional subscribers)By Richard LeongNEW YORK, Jan 31 (Reuters) - The spread between longer-dated U.S. Treasury yields and short-dated ones contracted to t...Read More
* Fed hints of further rate hikes on expected inflation pickup* U.S. leans on short-dated debt to fund growing deficit* ADP data shows further improvement in U.S. labor market* Global bond markets suffer worst month in over a year (Updates market action, adds quotes)By Richard LeongNEW YORK, Jan 31 (Reuters) - The spread between longer-dated U.S. Treasury yields and short-dated ones contracted to...Read More
The Dow was up more than 200 points at its intraday high on a boost from blue-chip Boeing's (BA) impressive earnings, but erased these gains after the Fed said inflation is expected to "stabilize around" its 2% target this year -- a hawkish shift from previous language -- which sent the 10-year Treasury yield soaring to a nearly four-year peak. Nevertheless, the central bank unanimously voted to k...Read More
(In paragraph 2, ECB corrects Coeur?(C)'s quote in transcript of RT?? interview to say "our monetary policy" instead of "foreign monetary policy")NEW YORK, Jan 31 (Reuters) - The euro fell to U.S. session lows against the dollar on Wednesday, further paring its earlier gains in the wake of comments from European Central Bank executive board member Beno?(R)t Coeur?(C).In an int...Read More
Feb 1 (Reuters) - Stock MarketsNet Chng Stock MarketsNet ChngS&P/ASX 200** 6,037.70 14.90NZX 50**8,420.04 -21.97DJIA**26,149.3972.50NIKKEI**23,098.29-193.68Nasdaq**7,411.4829.00 FTSE**7,533.55 -54.43S&P 500** 2,823.81 1.38 Hang Seng** 32,887.27279.98SPI 200 Fut 5,978.0-3.0 STI** 3,533.99 -14.75SSEC**3,481.5094 -6.50KOSPI** 2,566.46 -1.28-----------------------------------------------------...Read More
(Adds details, comment from Energy Fuels, Congressman Grijalva)By Valerie VolcoviciWASHINGTON, Jan 31 (Reuters) - U.S. President Donald Trump's decision to withdraw federal protections from millions of acres of Utah wilderness will reopen much of the iconic terrain to gold, silver, copper, and uranium land claims under a Wild West-era mining law, according to federal officials.Starting at 6 a.m....Read More
TORONTO, Jan 31 (Reuters) - Canada's main stock index inched down on Wednesday to close at its lowest level in eight weeks, as global equity investors drew back after the U.S. Federal Reserve indicated more rate hikes were in store.The Toronto Stock Exchange's S&P/TSX composite index slipped 3.84 points, or 0.02 percent, to 15,951.67. (Reporting by Nichola Saminather; Editing by Peter Cooney)...Read More