Friday, 30 January 2015 00:02
Bullion prices extended their slide on Thursday, marking the fourth drop in the past five sessions, following an upbeat economic evaluation from the Federal Reserve (Fed) and ahead of major marco-economic releases on Friday.
Gold futures fell 1.77% to $1,262.90 per troy ounce on Thursday.
Last week, bullion prices soared over $1,300 after the European Central Bank's announcement of a big unconventional bond-buying program sparked demand for the traditional safe haven.
Thursday, 29 January 2015 22:34
Pending home sales in the U.S. fell unexpectedly in December, raising concerns over the health of the housing sector, industry data showed on Thursday.
In a report, the National Association of Realtors said its pending home sales index decreased by a seasonally adjusted 3.7% last month, disappointing expectations for a 0.5% gain.
Pending home sales in November rose by 0.6%, whose figure was revised down from a previously reported gain of 0.8%.
Thursday, 29 January 2015 20:40
The number of people who filed for unemployment assistance in the U.S. last week fell to the lowest level since 2000, fuelling optimism over the strength of the labor market, official data showed on Thursday.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 24 decreased by 43,000 to a seasonally adjusted 265,000 from the previous week’s total of 308,000.
Analysts had expected initial jobless claims to decline by 8,000 to 300,000 last week.
Thursday, 29 January 2015 20:27
Consumer price inflation in Germany declined for the first time since October 2009 in January, underlining concerns over the risk of deflation in the euro area, official preliminary data showed on Thursday.
In a report, the German Federal Statistics Bureau said consumer price inflation decelerated at an annualized rate of 0.3% this month, compared to forecasts for a decline 0.1% and slowing from a reading of 0.2% in December.
Month-over-month, German consumer prices dropped 1% in January, compared to expectations for 0.8% decline, after holding flat in the preceding month.
Thursday, 29 January 2015 17:59
According to Investec, with the FOMC fueling further confusion regarding rate-hike expectations, the Fed’s stance on remaining patient doesn’t alter the strong USD trend.
“The Federal Reserve effectively committed to keeping short-term interest rates near zero at least until June and set the stage for tough debates in the months ahead about whether to wait even longer. The communique continued to point to the FOMC being patient in its first rate hike.”
“Fed watchers continue to look for a June rate hike, although they could be disappointed if the global impact of lower oil prices continues to dampen inflation expectations whilst the statement also said that the committee was monitoring international developments closely. For now the statement does not alter the strong Dollar trend that cautiously resumed overnight.”
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