The Dow rallied following Fed Chairman Jerome Powell’s comment that there was no “preset path” toward raising interest rates
10 January, 2019, 14:54
The American central bankchairmanJerome Powell said last week that the Federal Reserve could put a pause on the interest rate hikes if the United States economy would weaken and even pledged that he will stay despite the pressure from Trump to resign.
European shares edged lower following a strong session in Asia on Monday, after USA stocks surged in the previous session on fresh signs of economic strength and the Federal Reserve said it would be flexible with its interest-rate policy.
"The Fed is listening to the market and has acknowledged flashing market signs", said Sim Moh Siong, currency strategist at Bank of Singapore. S&P 500 futures were 0.4% higher.
The upbeat mood gave a lift to high-yielding currencies, with South Korea's won and the Indonesian rupiah soaring against the dollar, while there were also healthy gains for Australia's dollar.
He warned, however, that there is continued uncertainty about global growth, trade talks between the United States and China and US monetary policy.
But Saxo Bank's Hansen said demand for gold as a safe haven would remain because "a dovish Fed is more of a potential worry that the US economy is not as strong as the market expects".
The dollar outperformed other currencies in 2018 due to the Fed being the only major central bank to hike rates. This, along with a 100 basis point cut in China's bank reserve requirement ratios and comments from Fed Chair Jerome Powell that the US central bank would be flexible in its approach in 2019, has been the main driver for the recovery. If the Fed holds rates in 2019, analysts see slim chances of further greenback appreciation.
Palladium, meanwhile, slipped 0.6 percent to $1,292.90 an ounce after touching a record high of $1,313.24 earlier in the session.
Total lunar eclipse happening January 20 Since the first full moon of January is called "wolf moon"; many are calling this event a "Super Blood Wolf Moon Eclipse". It's an event that will be best viewed from the eastern U.S., Central America, and South America.
After a slew of weaker-than-expected manufacturing data, Chinese authorities on Friday cut reserve requirements for all banks by 100 basis points.
But market expectations for further Fed tightening this year have shifted markedly in the last few months, with some traders now expecting even a rate cut this year. It rallied 2.1% Friday ahead of a well-flagged move by the People's Bank of China to add a net 800 billion yuan ($116.48 billion) of liquidity into the banking system by cutting banks' reserve requirements.
Dealers started the week on the front foot following a surge on Wall Street Friday that came after figures showed more than 300,000 USA jobs were created in December, tempering recent concerns about growth.
Analysts expect further monetary stimulus from Beijing in 2019.
Financial markets are also optimistic about US officials meeting with their counterparts in Beijing this week for the first face-to-face talks since President Donald Trump and President Xi Jinping on December 1 agreed to a 90-day truce in their trade war.
February gold futures were up 0.59% to $1,293.40 by 09:32 AM ET (14:32 GMT) on the Comex division of the New York Mercantile Exchange after rising as high as $1,296.50 earlier.
The two sides have until March 1 to make a deal, after which Trump has pledged to ramp up tariffs to 25 percent, from 10 percent, on $200 billion worth of Chinese imports.
Kalki Koechlin, who is also a key part of the film, is one strong actor and she never fails to impress us with her acting prowess. Both of them are special to me. "I was born to do Gully Boy and I knew only I can pull off this character", he said.
As of December 29, New Brunswick had 579 lab-confirmed cases, 577 of them influenza A and two of influenza B. Of those, 71 people were hospitalized, 15 were admitted to the ICU and there were three deaths .
Timothy Savage claims that Mason threatened him in May 2018 for claiming that his daughter was being held against her will by R. Kelly is reportedly being investigated in multiple jurisdictions following the release of a Lifetime docuseries, " Surviving R.
Here's a look at our final grades for Clemson football both offensively and defensively Monday night in the National Championship. That led to Travis Etienne's third touchdown of the half, a 5-yard shovel pass from Lawrence.
Tulowitzki could slot in at shortstop, allowing Gleyber Torres to remain at second base and Miguel Andujar to stay at third. According to Passan, Tulowitzki is expected to play shortstop for NY while Didi Gregorius recovers from Tommy John surgery.
In one day alone, Purdy said volunteers collectively hauled out about 4,000 pounds of trash. "The national parks are a treasure". If Shenandoah National Park takes part in the plan, the trust says it will still cover the cleaning cost of port-a-potties.
The agency announced Monday that tax filing season will begin January 28, when Americans get their W-2s from employers. The IRS has yet to announce when individuals and businesses can begin submitting their income tax returns.
At the same time, Huawei also announced the launch of its TaiShan series servers powered by the 920 chipset. One focuses on storage, the second on high density, and a third option attempts to balance the two.
Astronomers have revealed details of mysterious signals emanating from a distant galaxy, picked up by a telescope in Canada . The findings were presented during a meeting held by the American Astronomical Society in Seattle, Wash., on Thursday.
AC Milan striker Andre Silva , who is now on loan with Sevilla , is reportedly wanted by Chelsea to replace Alvaro Morata . Benzema can be lethal on his day, and with Chelsea keen on an out and out number nine, he could come in handy.
Liverpool would have also wanted to rest key first team players, who haven't had many days off this season. Liverpool resume their bid for the Premier League title with an away clash against Brighton this weekend.
Hardik Pandya, K. L. Rahul issued show-cause notice by BCCI
Pandya is now with the Indian team in Australia and his response, released to a section of the media in Sydney , spoke of regrets. In the whole episode, he could not stop himself from boasting about womanizing and that did not go down well with the netizens.
Patrick McCaw plans to sign with Raptors
Two days after being released by the Cavs , former Warriors guard Patrick McCaw cleared waivers at 2 p.m. Now, McCaw joins Toronto's bench as the Raptors pursue an Eastern Conference championship.
Tom Thibodeau Fired By Minnesota Timberwolves
Assistant coach Ryan Saunders , son of late beloved Timberwolves coach Flip Saunders , will take over as interim coach. Adrian Wojnarowski of ESPN reported that Fred Hoiberg is among the main candidates for the GM and coach position.