Gold hit a fresh record high near $1,150 an ounce on Wednesday, boosting precious metals across the board, as a dip in the dollar index added to momentum buying as prices broke through key technical resistance levels.
Gold prices hit a record high and oil and stock prices around the world rose on Wednesday, while the dollar eased off ahead of U.S. inflation data and minutes from the Bank of England's November meeting.
The dollar weakened broadly on Wednesday as dealers took profit on the currency's biggest rise in three weeks the previous session and pushed the euro back to the middle of its range of the last fortnight.
The dollar eased back on Wednesday from its biggest rise in three weeks the previous session, as traders awaited U.S. inflation data and minutes from the Bank of England's November meeting for further direction.
Gold prices hit a record high and oil and stock prices around the world rose on Wednesday, while the dollar eased off ahead of U.S. inflation data and minutes from the Bank of England's November meeting.
Top Federal Reserve officials on Tuesday struck differing notes on the likely pace of the U.S. economic recovery and one warned that pockets of weakness must not deter the central bank from withdrawing its extraordinary economic support.
U.S. industrial output barely rose last month and wholesale inflation was tame, suggesting the economy's recovery from a severe recession was losing some steam as government stimulus faded.
Yesterday's release of the RBA board minutes from the November 3 0.25% interest rate rise cast some doubt as to the scale of the current wave of Monetary Policy tightening. In the minutes the central bank said ...further gradual adjustment in the cash rate would most likely be appropriate over time, though the pace of the adjustment remained an open question. The market had been looking for more aggressive wording given the hikes already priced in for 2010 and were somewhat disappointed by the...
A senior Federal Reserve official said on Tuesday that the U.S. central bank must remain vigilant about keeping inflation in check and not let patchy economic weakness deter it from beginning to withdraw extraordinary levels of support.
Target Sees Price War; Obama's Economic Campaign; Tame Inflation Ahead
U.S. producer prices rose more slowly than forecast in October and unexpectedly fell excluding food and energy, a government report showed on Tuesday, pointing to tame inflation pressures.
U.S. producer prices rose more slowly than expected in October despite a rebound in food and energy costs, according to a government report on Tuesday that pointed to tame inflation pressures.
Setting interest rates plays a role in averting crises, but whether they should be set according to asset prices is still an open question, Federal Reserve Bank of San Francisco President Janet Yellen said on Tuesday.
Asian shares, gold and oil eased on Tuesday as investors locked in recent gains while keeping an eye on the ailing dollar, which was pinned near 15-month lows on expectations that U.S. interest rates will stay extremely low for some time.
Federal Reserve Chairman Ben Bernanke, in a rare comment on the U.S. dollar's value, on Monday acknowledged the currency's slump was causing some prices to rise, but said other factors restraining inflation were winning the day.
The Federal Reserve's low interest rate policy is meant to encourage investors to move into riskier assets in order to promote economic recovery, and there are no signs currently the policy is resulting in the build-up of a U.S. asset bubble, the central bank's number-two official said on Monday.
The U.S. central bank is monitoring the declining value of the dollar closely as part of its commitment to both jobs growth and price stability, Federal Reserve Chairman Ben Bernanke said on Monday.
With no local economic data released yesterday the Australian dollar bounced around between 0.9320 and 0.9350 for the majority of the Asian day searching for direction. The directionless trade continued well into the evening and throughout the European session only coming to life in North American exchange. Consumer Spending data out of the U.S surprised to the upside triggering a surge in demand for equities and riskier assets in general which benefited the Aussie dollar. At its peak the AUD/US...
The U.S. central bank is monitoring the declining value of the dollar closely as part of its commitment to both jobs growth and price stability, Federal Reserve Chairman Ben Bernanke said on Monday. In a rare commentary on the value of the dollar, Bernanke drew a link between its current weakness and inflation risks.
Federal Reserve Chairman Ben Bernanke said on Monday that the U.S. central bank was monitoring the declining value of the dollar closely, saying the Fed was committed to both jobs growth and price stability.
Japan's government inched toward agreeing new stimulus measures that could be worth $30 billion on Monday as economic growth is likely to slow next year due to sluggish personal spending and rising inventories.
China's economy is expected to grow by a modest 8.5 percent next year while inflation will be subdued at about 2.5 percent, indicating that monetary policy should remain appropriately loose to solidify the basis of the recovery, a key government think-tank said on Monday. The State Information Center added that the risks of rapid credit growth could be contained and that a tightening of monetary ...
