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Fed likely to leave rates steady, despite market outlook and Trump demands
Author: DarellBethel
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Fed likely to leave rates steady, despite market outlook and Trump demands
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Slumps in Chinese Equities, Renminbi Weigh on World Markets
Dumping of Chinese equities, USDCNY fixing, further selloff in oil prices, dovish FOMC minutes and disappointing US ISM non-manufacturing, continue to weigh on risk appetite ahead of European opening, after pressuring Asian and US markets. The decline in Asian equities on Thursday is led by China, where the stock exchanges closed early for a second time this week as the CSI 300 index slumped more than -7%, again.
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Slumps in Chinese Equities, Renminbi Weigh on World Markets -
Gold Soared above 1300 as ECB Announced Large QE Plan
Precious metals soared as ECB’s additional asset purchase program came in larger than expected. The benchmark Comex gold contract rose to a 5-month high of US$1302.9/oz before ending the day at 1300.7, up +0.54%. The comex silver contract also soared to a 4-month high of US$18.49/oz before settling at 18.36, up +0.92%.
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Gold Soared above 1300 as ECB Announced Large QE Plan