(Updates with comment from chief Canadian negotiator) By David Ljunggren and Dave Graham MEXICO CITY, March 1 (Reuters) - Negotiators trying torework the NAFTA trade deal on Thursday were hit by the prospectof conflict over U.S. steel tariffs that could complicatecarmaking in North America, one of the most sensitive issues atthe talks. U.S. President Donald Trump said he would impose the tariffsbe...Read More
* USD/SGD back in technical no man's land on conflicting fators* Rally overturned, avoids Bollinger uptrend channel at 1.3260* Intraday support at 1.3151 entrance of downtrend channel* US tariffs trigger stock selloff, risk aversion in Asia expected* But US yields also fell as a result, dampening USD gains* Response from China to Trump's tariffs awaited <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^...Read More
* Softer early - closed -0.4% - risk off on trade friction & lower USTyields* Tokyo CPI, poll 0.8% & unemployment, poll 2.7% lead data - focus on Nikkei* Horizontal Tenkan & Kijun lines do not suggest a trending move* 2 days of losses, with risk broadly offered weigh - primary trend is lower* Close below 106.10, 76.4% Feb bounce would target 105.54 Feb low* 105.31, 76.4% 2016 rise majo...Read More
** Australia Bluescope Steel rises as much as 3.8percent to A$16.79, its highest level since Jan. 2010** Steel futures rose for a fifth straight day on Thursdayon tighter supply expectations from China ** On Monday, the steel maker posted a 23 pct jump infirst-half profit and said it would extend its buyback program ** Stock among top gainers on the Aussie main board (Reuters Messaging:rushil.dutt...Read More
TOKYO, March 2 (Reuters) - Japan's jobless rate dropped to alower-than-expected 2.4 percent in January and the availabilityof jobs stayed at a 44-year high, government data showed onFriday.The seasonally adjusted unemployment rate fell from 2.8percent in December, data from the Internal Affairs ministryshowed. Economists' median forecast was for the jobless rate tofall to 2.7 percent.The jobs-to-a...Read More
* USD/KRW likely re-opens near flat vs prev close 1082.8* Consolidation within Ichimoku Cloud 1070.8-1090.4 may persist* Risk aversion theme could resolve with stronger USD/KRW* Trade tariffs by Trump sink stocks, but US yields drop too* Announcement of tariffs on metals may cue trade war * Fed chair Powell says US economy not overheating <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^...Read More
Gold futures started off the day trading under enormous pressure overseas, which continued during the morning trading session in New York. These depressed prices were in tandem with falling stock prices here in the United States.In trading today, gold futures (April 2018 Comex contract) sank to $1,303.60 before staging an impressive recovery. As of 3:40 PM Eastern standard time, gold is currently...Read More
Gold futures started off the day trading under enormous pressure overseas, which continued during the morning trading session in New York. These depressed prices were in tandem with falling stock prices here in the United States.In trading today, gold futures (April 2018 Comex contract) sank to $1,303.60 before staging an impressive recovery. As of 3:40 PM Eastern standard time, gold is currently...Read More
NEW YORK, March 1 (Reuters) - U.S.-based high-yield junkbond funds posted $703 million of outflows for the week endedWednesday, their seventh straight week of cash withdrawals,Lipper data showed on Thursday.But higher up in the credit-quality spectrum, U.S.-basedinvestment-grade corporate bond funds attracted $1.37 billion innew cash, their second consecutive week of inflows, Lipperadded. (Reporti...Read More
(Adds comment from Business Roundtable)By Nick Carey and Arunima BanerjeeMarch 1 (Reuters) - Stock prices of U.S. steel and aluminummakers rose on Thursday after President Donald Trump announcedhefty tariffs on metal imports to protect them from foreigncompetition, but many other companies saw stock price falls asthey may face higher prices for raw materials which will forcethem to raise prices fo...Read More
(Repeats to attach to alerts)TOKYO, March 2 (Reuters) - Japan's jobless rate dropped to alower-than-expected 2.4 percent in January and the availabilityof jobs stayed at a 44-year high, government data showed onFriday.The seasonally adjusted unemployment rate fell from 2.8percent in December, data from the Internal Affairs ministryshowed. Economists' median forecast was for the jobless rate tofall...Read More
SEOUL, March 2(Reuters) - Details of South Korea's January industrialactivity, retail sales and investment data, released on Friday by StatisticsKorea (percentage change unless stated, month-on-month changes seasonallyadjusted): Jan*DecY/YM/M Y/Y M/M Industrial output +4.6 +1.0-4.6-1.7 Manufacturing ex-factory+3.6~-7.5 ~ shipments Shipments for domestic+4.6~-7.9 ~ marketShipments for exports +0.4...Read More
(Adds expenses, revenue details)SAO PAULO, March 1 (Reuters) - Brazil's financial exchangeoperator B3 SA Brasil Bolsa Balc??o missedfourth-quarter profit estimates on Thursday as expensesincreased and offset higher revenues from equities andderivatives. S??o Paulo-based B3's recurring net income totaled 635.8million reais ($195.56 million) in the quarter, 12 percent belowthe consensus estimate of...Read More
Overshadowed by news of U.S. tariffs on imported steel and aluminum, Fed chairPowell and NY Fed President Dudley made comments that indicate monetary policyis in play, setting up the USD for further gains. Powell expressed concern thatthe Fed policy could fall behind the curve if they maintained the currentgradual tightening path, ultimately forcing them to raise rates too quickly andrisk recessio...Read More
NEW YORK, March 1 (Reuters) - The chief executive officer ofAmerican Outdoor Brands Corporation , maker of Smith &Wesson guns, on Thursday said some gun retailers reportedincreased foot traffic and sales after the Florida high schoolshooting.CEO James Debney, on a conference call with investors todiscussearnings, briefly addressed the Feb. 14 attack atStoneman Douglas High School in Parkland,...Read More
Leading commentaries from U.S. session:* Fear of trade war adds to troubled USD/JPY outlook * Powell, Dudley give legs to USD bull trade * EUR/USD downside risks are growing * Cable's 2018 gains in jeopardy as Brexit talks meander * Trump trade stance could boost dollar * JPY dip on Powell's soft Senate start a buy * PCE merely pauses USD and JPY Fed Disclaimer: The views expressed in this artic...Read More
PRAGUE, March 2 (Reuters) - The Czech crown currency'srecent firming has tightened monetary conditions in the economyand lessened the need for interest rate hikes, central bankboard member Vojtech Benda said in an interview with HospodarskeNoviny.Benda had been on the hawkish side of the seven-member boardlast autumn when he said the economy could take 50-75 basispoints in rate increases by the en...Read More
** SKY Network Television Ltd falls as much as 3.3pct to NZ$2.38, an all-time low** Co announced lower subscriber numbers, interim dividendcut on Wednesday ** Stock posts its biggest intraday percentage fall sinceFeb. 28** Stock on track for third straight daily loss** Stock is thebiggest percentage loser on the S&P/NZX 50Index ** Up to Thursday's close, stock had fallen 12.5 pct thisyear comp...Read More
Plenty of conflicting factors in a busy offshore session. Trump to impose steel& aluminium tariffs ; Juncker responded , which spookedstocks & commodities, cautious Powell saw UST yields & USD slip .Stronger US inflation, softer consumer spending , soft Brexit looksunlikely , EZ PMIs resilient . S&P -1.3%, Vix +13% to22.5, EM ETFs -0.2%, Eurofirst 300 -1.3%. WTI trades -0.5%, coppe...Read More
MEXICO CITY, March 1 (Reuters) - Mexico's lower house ofCongress approved a bill to regulate the fast-growing financialtechnology sector on Thursday, including crowdfunding andcryptocurrency firms, putting it among a small group ofcountries to establish regulation for the industry.The bill, which seeks to promote financial stability andprevent money laundering, was approved by Mexico's Senate inDe...Read More