Articles by admin

(Bloomberg) — Oil kept falling after its biggest weekly drop since July as signs that reaching a comprehensive U.S.-China trade deal will be tough gave no respite from a worsening demand outlook.Futures in New York edged lower after losing 5.5% last week. Chinese officials are signaling they’re increasingly reluctant to agree to a broad deal pursued by President Donald Trump, according to people familiar with the discussions, before high-level talks between the two sides that are set to resume this week.Oil fell for eight days through Thursday as a slew of disappointing economic data highlighted the increasing toll the trade …read more […]

Oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the U.S.-China trade war. Brent crude futures edged down 24 cents to $58.13 a barrel by 0147 GMT while U.S. West Texas Intermediate (WTI) crude was at $52.69, down 12 cents. Both contracts ended last week with a more-than-5% decline after dismal manufacturing data from the United States and China, as the lingering row between the world’s top …read more […]

Oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the U.S.-China trade war. Brent crude futures edged down 24 cents to $58.13 a barrel by 0147 GMT while U.S. West Texas Intermediate (WTI) crude was at $52.69, down 12 cents. Both contracts ended last week with a more-than-5% decline after dismal manufacturing data from the United States and China, as the lingering row between the world’s top …read more […]

U.S. gold futures inched 0.1% higher to $1,513.90 an ounce. The next round of U.S-China trade negotiations, likely to be in Washington on Oct. 10-11, will be in focus to see if the two sides can end their year-long trade spat that has upset economic growth around the world and raised concerns of a possible recession. U.S. President Donald Trump said on Friday there is a “very good chance” of a trade deal with China. …read more […]

(Bloomberg) — China has added more than 100 tons of gold to its reserves since it resumed buying in December, reinforcing its standing as one of the major official accumulators as central banks stock up on the precious metal.The People’s Bank of China picked up more gold last month, raising holdings to 62.64 million ounces in September from 62.45 million in August, according to data on its website. In tonnage terms, the latest inflow totals 5.9 tons, and follows the addition of about 99.8 tons over the prior nine months.Bullion hit the highest level in more than six years in …read more […]

As Rudy Giuliani was pushing Ukrainian officials last spring to investigate one of Donald Trump’s main political rivals, a group of individuals with ties to the president and his personal lawyer were also active in the former Soviet republic. This circle of businessmen and Republican donors touted connections to Giuliani and Trump while trying to install new management at the top of Ukraine’s massive state gas company. …read more […]

The geopolitical risk premium in oil has seemingly evaporated, and as oil prices continue to inch lower, OPEC might have to do more to calm the markets …read more […]

(Bloomberg) — Federal Reserve Bank of Kansas City President Esther George said she dissented against rate cuts at the past two policy meetings because the U.S. economy is currently doing well, but she would be prepared to support a further reduction should she see evidence of a sharper slowing of growth.“The moderation of economic growth in 2019 has been in line with my own outlook that calls for a gradual decline to a trend level over the medium term,” George said according to remarks prepared for delivery Sunday at a National Association for Business Economics meeting in Denver. “Should incoming …read more […]

(Bloomberg) — The yen edged up and yuan slipped in early trading Monday after a report that China may be increasingly reluctant to agree to a broad trade deal ahead of talks with the U.S. this week.Japanese futures pared gains stemming from a solid close on Wall Street Friday. Trading in the region may be muted with Hong Kong and Chinese markets shut and Sydney on holiday. Senior Chinese officials have indicated the range of topics they’re willing to discuss has narrowed considerably, according to people familiar with the matter. U.S. stocks closed higher Friday, along with Treasuries, after solid …read more […]

Hot air balloons at the annual Albuquerque International Balloon Fiesta took flight on day two of the nine-day long event. There was no official balloon launch on Saturday, opening day, because of heavy fog. (Oct 6) …read more […]

(Bloomberg) — How much lower can India’s central bank drive interest rates after delivering five back-to-back cuts? By as much as 65 basis points, say some economists.The Monetary Policy Committee can possibly cut rates by another 40-65 basis points, which will take the benchmark repurchase rate below the 4.75% level seen during the global financial crisis, according to economists, including Anand Rathi Financial Services Ltd.s’ Sujan Hajra. So entrenched is India’s growth slowdown that it may require the rate to be cut to as low as 4.5% for any meaningful impact.“We now expect that rather than 5%, the repo rate …read more […]