Markets News Stocks 

Asian stocks choppy, sentiment shaken by sliding yuan

“Lastly, a weaker yuan deepens trade war concerns.”” writes Midwest Communications Inc for 95kqds.com. First, a weaker yuan challenges the competitiveness of other Asian economies,” said Shusuke Yamada, currency and equity strategist at Bank of America Merrill Lynch in Tokyo.The dollar index against a basket of six major currencies stood little changed at 95.178 after being knocked down from 95.652, its highest level since July 2017.”The weaker currency also causes fears of capital leaving China and disrupting their capital markets, which could have knock-on effects on Asia.With China showing little…

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Markets News 

Gold slips for sixth session as dollar firms

“Gold eased for a sixth straight session on Friday, having slipped to a one-year low in the previous session, as the U.S. dollar firmed” writes unknown author for cnbc.com. Spot gold was down 0.2 percent at $1,219.28 an ounce at 0127 GMT. In the previous session, it fell to its weakest since early July last year at $1,211.08 an ounce.The dollar index, which measures the greenback against a basket of six major currencies, was 0.1 percent higher at 95.129.Fed Chairman Jerome Powell in a two-day congressional testimony said he believed…

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News Regulators 

Dollar falls and Treasury yields near lows as Trump criticizes Fed 

“The dollar fell and Treasury yields edged lower after President Donald Trump said he disagreed with Fed policy on interest rates and objected to a strong dollar” writes Patti Domm for cnbc.com. Prior to his election, going back to Robert Rubin, President Bill Clinton’s Treasury secretary, the policy has been for a strong dollar.Trump has commented on dollar strength in the past.The dollar has been rising this week following comments from Fed Chairman Jerome Powell that the economy was strong and the Fed would keep raising rates. Source: cnbc.com Share This:

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News 

Gold pares losses, but still ends at 1-year low, in correction territory

“Gold prices erased much of their earlier losses on Thursday, but still finished at a one-year low, as President Donald Trump voiced his displeasure with Federal Reserve rate increases, prompting a decline in the benchmark dollar index” writes Markets Commodities Reporter for marketwatch.com. The settlement marked gold’s entry into correction territory—down more than 10% from its peak on Jan. 15 at $1,362.90.A popular fund used to bet on gold’s moves, SPDR Gold Shares GLD, -0.25% was down 0.2%, trading around 1.3% lower for the week.August gold GCQ8, -0.08%  declined by…

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News Regulators 

Dow retains afternoon slump as Trump says he isn’t ‘thrilled’ with Fed rate hikes

“The U.S. dollar, as gauged by the ICE U.S. Dollar Index DXY, -0.01% went from a gain of 0.4% before the president’s remarks to down 0.1% as of 1.24 p.m” writes Mark Decambre for marketwatch.com. However, asset moves were the most pronounced in the dollar and in benchmark 10-year Treasury rates, which are the most sensitive to rate-hike expectations.Trump said he wasn’t “thrilled” with the central bank’s interest-rate raises which have pushed the federal-funds rate to a range of 1.75% and 2%, with further hikes penciled in possibly for September…

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Dollar index turns negative after Trump say’s he’s not ‘thrilled’ with Feds’ rate hikes

“Trump told CNBC during an interview on Thursday that he isn’t “thrilled” that the Federal Reserve is hiking interest rates” writes Anneken Tappe for marketwatch.com. The Federal Reserve has so far raised interest rates seven times since the end of 2015, with up to two more rate hikes expected in 2018.The U.S. dollar turned negative versus its main rivals on Thursday after President Donald Trump said he disagreed with the Federal Reserve’s strategy to gradually hike interest rates.The monetary tightening guided both the dollar, as well as U.S. Treasury yields…

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Firmer U.S. dollar boosts corporate interest in currency hedging

“Foreign currency earnings of U.S. multinational companies are worth less in dollars when the currency is stronger” writes Midwest Communications Inc for 95kqds.com. The company, which does not plan to change its stance on currency hedging, will try to move more of its costs offshore, to help create a natural hedge, a Netflix spokesman said.Interest rate differences between countries drive hedging costs, and as the Fed raises interest rates it can become more attractive to hedge.”This will be another wake-up call,” said Wolfgang Koester, chief executive at currency risk consulting…

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News 

Gold inches higher as US dollar eases

“Gold prices rose slightly early Thursday, after hitting a one-year low in the previous session, as the U.S. dollar eased off a three-week high” reports cnbc.com. Spot gold was up 0.1 percent at $1,227.55 an ounce at 0058 GMT. The metal fell to its lowest since mid-July 2017 at $1,220.81.The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent at 95.022 after hitting a three-week high of 95.407 on Wednesday.U.S. gold futures for August delivery were little changed at $1,227.40 an ounce. Source:…

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News Oil 

Asian shares higher on U.S. earnings but trade worries rattle offshore yuan

“TOKYO (Reuters) – Asian shares made early gains on Thursday as upbeat Wall Street earnings supported global investor sentiment, although trade war jitters pushed China’s offshore yuan to a fresh one-year low” writes Midwest Communications Inc for 95kqds.com. “Trade war fears are something that won’t go away overnight.On the foreign exchange market, the trade war fears between the United States and China kept the offshore yuan to 6.7650 per dollar, to hit its lowest level since July, 2017.Against the Japanese yen, the dollar hit a 6-1/2 month high of 113.140…

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