- Gold prices break 6 year down trend on safe haven demand (see charts)- Chinese gold demand set to surge 50% to 1,000 metric tonnes- Chinese demand for gold bars on track to surge more than 60 percent in 2017- Geopolitical risk internationally leading to safe haven demand- UK election, terrorism and rising tensions in Middle East supporting gold after attacks in London and attacks in Iran toda...Read More
Gold Today -New York closed at $1,293.80 yesterday after closing at $1,279.60 Monday. London opened at $1,292.65 today. Overall the dollar was slightly weaker against global currencies, early today. Before London's opening: - The $: EUR was slightly weaker at $1.1254 after yesterday's $1.1246: EUR1.- The Dollar index was slightly weaker at 96.68 afte...Read More
It seems all terror attacks in democratic nations happen before an election. I rarely find any terrorist attack after an election. I am confident that once UK and German elections are over, Europe will not see terror attacks for quite a long time. In Europe or the UK all terrorists were known to the law enforcement agencies and still they slept. It is very easy to radicalize anyone these days. G...Read More
June 8 (Reuters) - For other diaries, please see:Top Economic Events Polling unit diary Today in Washington Political and general news DATECOUNTRYAUCTION DETAILS8-JunSweden Auction of inflation-linked government bond8-JunJapan3-month discount bill auction8-JunJapanAuction of 5-year government bonds 12-JunUnited StatesSale of 3-year notes 12-JunUnited StatesSale of 10-year notes 12-JunItalyBills au...Read More
Wednesday was a day spent in wait: not only for the highly anticipated public testimony from former FBI director James Comey, but also a decision on eurozone monetary policy and the U.K. election. Investors' patience made for noncommittal trading on Wednesday with stocks veering between the green and red before settling with slight gains. The S&P 500 was up 0.15%, the Dow Jones Industrial Ave...Read More
By Orathai SriringBANGKOK, June 8 (Reuters) - If recent history is anything to go by, letting Thais invest more money abroad is unlikely to spur major outflows, and that will mean continued firmness for the baht currency - and continuing frustration for Thai exporters. Authorities in Thailand, which has large current-account surpluses, are trying to get citizens to invest elsewhere, to help contai...Read More
TOKYO, June 8 (Reuters) - Japan's economy expanded at an annualised rate of 1.0 percent in the January-March period, revised down from a preliminary estimate of a 2.2 percent growth, Cabinet Office data showed on Thursday.The revised gross domestic product (GDP) data compared with the median forecast of a 2.4 percent expansion in a Reuters poll of economists.The figure translates into a quarter-on...Read More
North Korea fired what appeared to be multiple land-to-ship missiles off its east coast on Thursday, South Korea's military said, the latest in a fast-paced series of missile tests defying world pressure and threats of more sanctions.The launches comes less than a week after the United Nations Security Council passed fresh sanctions on the reclusive state, which said it would continued to pursue i...Read More
* ECB seen leaving policy unchanged* Likely to trim inflation forecasts* Seen dropping reference to downside risks By Balazs Koranyi and Francesco CanepaFRANKFURT, June 8 (Reuters) - The European Central Bank is likely to keep the money taps fully open at its meeting on Thursday as inflation remains below its target despite stronger economic growth in the euro zone.The currency bloc's economy has...Read More
MEXICO CITY, June 7 (Reuters) - Mexican lender Banco del Bajio, due to debut on the local stock exchange on Thursday, will place its shares at the upper end of the planned price range, and demand for the stock is around four times oversubscribed, four market sources said on Wednesday. Banco del Bajio, which is based in the central city of Leon, said last month it hoped to raise around $490 million...Read More
Today, the former director of the FBI, James Comey, released a written transcript of the prepared opening statement he will make tomorrow in his testimony to the Senate Committee on Intelligence. This seven-page document details the former director's contact with President Trump, going over his interactions meeting by meeting, phone call by phone call.His opening statement contains a detailed acco...Read More
June 8 (Reuters) - Australian shares are set to open slightly lower on Thursday, as commodities come under pressure from falling oil and gold pricesGold prices fell from near seven-month highs on a stronger dollar, while an unexpected increase in U.S. inventories of crude and gasoline contributed to an existing global glut, pushing down prices.The local share price index futures fell 0.2 percent,...Read More
(Updates with final prices, details from Mexico)By Bruno FederowskiSAO PAULO, June 7 (Reuters) - Brazil's stock index and currency on Wednesday advanced after a planned reform of labor regulations cleared a hurdle in Congress, but uncertainty over the outcome of an electoral court trial that could oust President Michel Temer limited gains.Temer's proposal to loosen labor laws won approval from the...Read More
(Adds strategist quotes, background details on energy and updates prices)* TSX closes down 92.42 points, or 0.6 percent, at 15,372.14* Eight of the index's 10 main groups end lower* Energy falls to an 11-month low, down 3.4 percent By Fergal SmithTORONTO, June 7 (Reuters) - Canada's main stock index fell on Wednesday as a sharp drop in oil prices put pressure on energy shares, which slumped to a...Read More
(James Saft is a Reuters columnist. The opinions expressed are his own)By James SaftJune 7 (Reuters) - The problem with Modern Portfolio Theory, the basis for most diversified investment approaches, is that the often irrational human investor in charge is a major point of failure.In other words, nice theory but shame about the monkey who is running it.Modern Portfolio Theory, originated by Harry...Read More
Associated Press Four events are sending investors out of stocks and into the safety of gold, bonds and the Japanese yen. How do I know this? I am looking at money flows. The market reaction to Brexit and the Trump election is more than ample proof that investors do not come out ahead just by analyzing events and making predictions based on the prevailing wisdom. As an example, the prevailing wi...Read More
The head of the U.S. Missile Defense Agency, Vice Admiral James Syring, said on Wednesday that technological advances demonstrated by North Korea in its ballistic missile program in the past six months had caused him "great concern."Syring told a hearing of the U.S. House Armed Services Committee that it was incumbent on his agency to assume that North Korea today could "range" the United States w...Read More
Suspected Boko Haram fighters attacked the city of Maiduguri in northeast Nigeria on Wednesday, the Islamist militant group's most serious assault on the regional capital in a year and a half.The raid comes six months President Muhammadu Buhari said Boko Haram had "technically" been defeated by a military campaign that had pushed many jihadists deep into the remote Sambisa forest, near the border...Read More
LIMA, June 7 (Reuters) - Fiscal stimulus from Peru's government would do more to spur a much-needed boost in credit demand than would a cut in interest rates, Julio Velarde, head of the country's central bank said.On the eve of a monetary policy meeting on Thursday, Velarde said he is considering several variables as policymakers look toreverse a deceleration of investment and economic growth."It'...Read More
* Dollar index steady, near 7-month low* Sterling up on eve of UK election* Graphic: FX rates in 2017 (Updates prices, market activity and comments to U.S. afternoon trading)By Saqib Iqbal AhmedNEW YORK, June 7 (Reuters) - The euro weakened against the greenback on Wednesday in choppy trading ahead of Thursday's European Central Bank policy announcement and the UK general election.The common curre...Read More