Sterling sank more than 2 cents against the U.S. dollar after an exit poll on Thursday unexpectedly showed Prime Minister Theresa May falling short of an overall parliamentary majority in Britain's election.By 2107 GMT, the pound traded down 1.5 percent on the day at $1.2766, having fallen as low as $1.2705 GBP= in the minutes after the projection was released by UK broadcasters. The pound also fe...Read More
OXFORD, England, June 8 (Reuters) - The Bank of Japan has far to go to reach its 2 percent inflation target, but its ultra-loose monetary policy has helped stabilise public inflation expectations, BOJ Governor Haruhiko Kuroda said on Thursday.Japanese core consumer prices rose just 0.3 percent in April from a year earlier, as companies remain wary of raising prices for fear of scaring away price-s...Read More
(Adds analyst comment, details, updates prices to close)* TSX ends up 50.95 points, or 0.33 percent, at 15,423.09* Six of the TSX's 10 main groups slip; financials gain 1 pct By Alastair SharpTORONTO, June 8 (Reuters) - Canada's main stock index gained on Thursday, helped by rises for some of the country's biggest banking stocks and a sharp jump in Valeant Pharmaceuticals but weighed down by los...Read More
Prime Minister Theresa May will win 314 seats in Britain's election, short of a majority in the 650-seat parliament, according to an exit poll released shortly after voting ended.(Reporting by Kate Holton, David Milliken and Andy Bruce, editing by Guy Faulconbridge and William James) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals...Read More
The House of Representatives on Thursday voted largely along party lines to replace the 2010 Dodd-Frank Wall Street reform law, a move that is expected to die in the Senate but open the door to revamping or eliminating regulations that came out of the 2007-09 financial crisis.The bill, called the CHOICE act, was approved by a vote of 233-to-186. Authored by House Financial Services Committee Chair...Read More
NEW YORK, June 8 (Reuters) - Investors in U.S.-based funds poured $1.4 billion into mutual funds and exchange-traded funds that invest in U.S. Treasuries in the week ended June 7, marking the biggest inflows since late January, data from Thomson Reuters' Lipper service showed on Thursday. Funds that invest mainly in foreign debt securities also attracted $1.4 billion in new cash, marking their big...Read More
Gold prices suffered a sharp decline on Thursday, erasing a gain for the week as the euro weakened, providing support for the dollar, in the wake of the European Central Bank's monetary-policy meeting. The yellow metal failed to find support from former Federal Bureau of Investigation boss James Comey's testimony before a Senate panel amid an investigation into alleged Russian efforts to interfere...Read More
* Graphic: World FX rates in 2017 * Euro falls after ECB keeps rates on hold* Nasdaq closes at record high, Dow hits record intraday high* Investors await British election outcome* Top European share index briefly touches 3-week low* Oil prices touch 1-month lows (Updates to close of U.S. markets)By Sam ForgioneNEW YORK, June 8 (Reuters) - U.S. and European stocks were little changed on Thursday a...Read More
* Comey's testimony seen as having no major surprises* Investors to play catch-up, allocations to gold still small -UBS* ECB keeps money taps open, drops reference to rate cuts (Updates with Comey testimony, comments, adds NEW YORK dateline)By DevikaKrishna Kumar and Eric OnstadNEW YORK/LONDON, June 8 (Reuters) - Gold prices extended losses into a second session on Thursday as the dollar strengthe...Read More
(Kitco News) - Despite renewed enthusiasm in the gold market, with prices nearly reaching $1,300 this week, one analyst says he is not yet convinced, especially given weakness in related markets."I am skeptical that gold can break $1,300 on this try as the performance from silver and gold stocks recently has not confirmed the strength in gold," Jordan Roy-Byrne, editor of The Daily Gold, told Kitc...Read More
A final opinion poll published on Thursday as Britons vote in a national election showed Prime Minister Theresa May's Conservatives widening their lead to 8 percentage points from a 5 point lead in its previous survey.The Ipsos MORI poll published in the London Evening Standard newspaper showed the Conservatives' share of the vote up to 46 percent from 45 percent from their last survey published o...Read More
TORONTO, June 8 (Reuters) - Canada's main stock index ended higher on Thursday, helped by gains for banking stocks after the Bank of Canada said it considers the system robust and a jump in Valeant Pharmaceuticals after it announced an asset sale.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 50.95 points, or 0.33 percent, at 15,423.09. The heavyweight financials secto...Read More
* ECB upgrades growth forecast, cuts inflation outlook* Ex-FBI chief Comey testifies, markets show little reaction (Updates prices, adds comment)By Gertrude Chavez-DreyfussNEW YORK, June 8 (Reuters) - U.S. Treasury yields rose on Thursday as investors looked past the testimony of former Federal Bureau of Investigation chief James Comey, who made no new revelation about the agency's Russian probe,...Read More
NEW YORK, June 8 (Reuters) - The 'Trump trade' made a comeback on Thursday on Wall Street but the S&P and Dow industrials ended flat as former FBI director James Comey said President Donald Trump fired him to undermine an investigation into Russian meddling into last November's U.S. election.The Dow Jones Industrial Average rose 8.84 points, or 0.04 percent, to 21,182.53, the S&P 500 gained 0.65 p...Read More
ALL TIMES IN EDT/GMT -------------------------------------------------1000/1400: The Commerce Department issues Wholesale Inventories for April.1200/1600: The USDA issues monthly Crop Production, World Agricultural Supply and Demand Estimates.------------------------------------------------- DIARY - Federal Reserve Events U.S. Indicators (Washington economics team) Disclaimer: The views expressed...Read More
* Sterling edges down as investors eye UK election result* Graphic: World FX rates in 2017 #* Graphic on UK election: (Updates prices, market activity and comments to U.S. afternoon trading)By Saqib Iqbal AhmedNEW YORK, June 8 (Reuters) - The greenback clung to slim gains against a basket of currencies on Thursday as investors took stock of former FBI Director James Comey's testimony to the U.S. S...Read More
By Rodrigo Campos | NEW YORKThe 'Trump trade' made a comeback on Thursday on Wall Street but major indexes were in and out of negative territory as former FBI director James Comey said President Donald Trump fired him to undermine an investigation into Russian meddling into last November's U.S. election.Traders had been on tenterhooks ahead of Comey's testimony to a Senate committee, his first sin...Read More
J.P. Morgan analysts on Thursday scaled back their forecast on the size of possible U.S. tax cuts and pushed out the timing for such a move as President Donald Trump and leading Republican lawmakers struggle to deliver on their economic agenda.In a research note, the analysts said they now see $100 billion of annual debt-financed tax cuts to take effect in the second quarter of 2018. They previous...Read More
(Adds central bank expectations, central bank goal, background on Argentina inflation)BUENOS AIRES, June 8 (Reuters) - Argentina's 12-month inflation through May was 24 percent, the country's statistics agency said on Thursday, down from 27.5 percent in April and lower than the 25 percent that Central Bank chief Federico Sturzenegger said he expected earlier this week.May inflation was 1.3 percen...Read More
A successful investor's secret is the ability to set aside one's own opinions and analyze hard data without biases. After former FBI Director James Comey's testimony Thursday, the "hard data" are that, according to the collective wisdom of investors, President Trump won't be impeached. I conclude this by tracking money flows in three important segments. To learn more about money flows, please see...Read More