Gold prices rose towards $1,600 an ounce on Tuesday in line with the firmer euro as investors awaited a statement from Federal Reserve chair Ben Bernanke later, after soft U.S. data fuelled talk he may hint at fresh measures to stimulate the economy.
Copper prices have outperformed the overall metals market as traders have closed short selling in expectation of government intervention to boost growth, but the metal may still be slightly overvalued, according to a Monday report by Barclays.
U.S. stock index futures point to a higher open Tuesday as investor sentiment turned positive on expectations for new U.S. Federal Reserve stimulus measures.
Crude oil prices slightly advanced Tuesday as investors awaited testimony from Federal Reserve Chairman Ben Bernanke for hints about further easing.
Most European markets rose Tuesday as investors continued to have hopes that the U.S. Federal reserve will announce more stimulus measures to boost the economic growth.
Asian markets were rose Tuesday as investors continued to be hopeful that central banks all over the world would soon announce stimulus measures to tackle the weakening global economy.
Newly released minutes of the U.S. Central bank's June 19-20 Federal Open Market Committee meeting were being taken by the stock market as indicating unwillingness to engage in further monetary easing.
It's going to be very, very dovish.
Asian markets rose Wednesday as investors continued to be hopeful that central banks all over the world would soon announce stimulus measures to tackle the weakening global economy.
The U.S. labor market has lost a step since spring and the trend of lackluster job growth will likely continue into June.
U.S. stock index futures point to a mixed opening Tuesday amid hopes that the Federal Reserve will announce stimulus measures to tackle the faltering economy and revive growth.
Central banks are reaching the limit of their ability to boost economic growth and the potential for harmful side effects of more extraordinary monetary easing is growing, the Bank for International Settlements warned.
Manufacturing has been one of the few bright spots of the otherwise frail U.S. economic recovery, but Markit said weaker overseas demand could be starting to slow hiring in the sector. U.S. manufacturing grew in June at the slowest pace in almost a year and hiring in the sector also slowed.
The Federal Reserve on Wednesday extended its monetary stimulus to a U.S. economic recovery that looks at risk of stalling, renewing its effort to depress borrowing costs by selling short-term bonds to buy longer-dated ones.
Chairman Bernanke will announce his policy decision Wednesday at 12:30 EST, and considering the recent escalation in the European debt crisis
The prolonged crisis in the euro zone, coupled with signs that the U.S. economic recovery is faltering, have led to speculation that the Federal Reserve will provide more monetary stimulus, most likely through extending its Operation Twist program, at the June two-day Federal Open Market Committee meeting, which concludes on Wednesday June 20.
European markets rose Friday amid expectation that central banks around the world would coordinate to announce stimulus measures to rejuvenate the global economic growth.
Japan's Nikkei 225 Stock Average fell Thursday amid report of cut in Spain's credit rating and disappointing data from the U.S.
The price of gold was flirting with the milestone value of $1,600 per troy ounce on Monday, but concerns about the euro debt crisis tempered the yellowish metal's advance, published reports state.
While the euro zone fiscal crisis has grabbed the spotlight, the U.S. faces its own fiscal crisis. The simultaneous onset of tax increases and spending cuts scheduled for Jan. 1 -- which will trigger unless Republicans and Democrats can agree on a balanced budget solution -- will likely send the economy plunging off a $720 billion fiscal cliff and into the arms of another recession.
Asian stock markets reported their first weekly gains in six weeks amid hopes that major central banks, including the U.S. Federal Reserve, might act to tackle deteriorating global economic conditions.
Asian markets rose this week amid hopes that policy makers would take concrete measures to tackle the financial crisis and regain the economic growth momentum.
