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Thought of the week

At the press conference following the January FOMC meeting, Chairman Jerome Powell identified three reasons why the Federal Reserve would remain “patient” with future rate hikes: slowing global growth, muted inflation pressures and tighter financial conditions. While the incoming data continue to suggest global growth is slowing and this week’s U.S. inflation print should show…
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Trump Considers 60-Day Extension for China Tariff Deadline

President Donald Trump is considering pushing back the deadline for imposition of higher tariffs on Chinese imports by 60 days, as the world’s two biggest economies try to negotiate a solution to their trade dispute, according to people familiar with the matter.  The president said Tuesday that he was open to letting the March 1…
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Forex – U.S. Dollar Edges Up as Traders Await Further News on China Trade Talks

The U.S. dollar edged up against most other currencies on Monday in Asia as traders await further news on China trade talks. The U.S. dollar index that tracks the greenback against a basket of other currencies last traded at 11:16 PM ET (04:16 GMT), up 0.1%. The index, widely considered a safe-haven asset, gained 1.2%…
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Gold Prices Slip; Still Hover Above $1,310 on Global Growth and Trade Concerns

Gold prices slipped on Monday in Asia as the U.S. dollar edged up. The precious metal remained above $1,310 as concerns on global growth slowdown and increasing uncertainties surrounding the Sino-U.S. trade war continued to dent investors’ risk appetite. Gold futures last traded at $1,314.85 on the Comex division of the New York Mercantile Exchange…
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Oil Prices Fall 1% as U.S. Drilling Activity Picks Up; Trade Talks in Focus

Oil prices traded lower on Monday in Asia after Baker Hughes said in a weekly report last Friday that energy firm increased the number of operating oil rigs. Companies added seven oil rigs in the week to Feb. 8, bringing the total count to 854, Baker Hughes reported. The U.S. Crude Oil WTI Futures dropped…
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Oil Prices Fall as Russia Shrugs off Immediate Increase to Cooperation With OPEC

After a brief respite from a smaller-than-expected build in U.S. crude inventories, oil prices returned to the downward path on Thursday as Russia shrugged off any urgency to formalize additional cooperation with OPEC on reducing the global supply through production cuts. New York-traded West Texas Intermediate crude futures fell 81 cents, or 1.50%, at $54.21…
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Germany, France pledge reforms of EU competition law: German newspaper

BERLIN (Reuters) – The economy ministers of Germany and France have pledged to work on reforming the European Union’s competition law in the coming three months in a joint opinion piece to be published Friday in the German newspaper Tagesspiegel and France’s Le Figaro. “We have agreed that we, Germany and France, will make proposals…
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Tech leads Wall Street lower as global growth worries resurface

U.S. stocks fell on Thursday weighed down by the technology sector, as fears of a global slowdown were rekindled after the European Union cut its economic growth forecasts, while a slew of dismal quarterly reports also added to woes. The European Commission said euro zone growth will slow to 1.3 percent this year from 1.9…
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Thought of the week

Last week, the Federal Reserve maintained interest rates unchanged at 2.25% – 2.50% as expected, but its communication changed to a more dovish tone, which positively surprised investors. The Committee stated that it will be “patient” and adopt a “wait-and-see” approach in determining the future path of interest rates, emphasizing that this change was not…
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Thought of the week 01 February 2019

The week ahead  Consumer confidence 4Q18 U.S. GDP  Headline/Core PCE Employment report  ISM and Markit manufacturing PMIs  Consumer sentiment Thought of the week Last week, we received a slew of data releases from China, confirming its slowing growth. China’s GDP growth slowed to 6.4% y/y in the fourth quarter from 6.5%,…
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