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U.S.-China rising conflict drives gold up
28.05.2020

Thursday saw gold’s climb in Asia in light of escalating tensions between U.S. and China, leading investors to subscribe to the yellow metal. Gold Futures went up by 0.04% at $1,711.35 by 11:55 PM ET (4:55 AM GMT). With the relationship between gold and stocks inversely proportional, the latter were mostly up on said trading…

German inflation to recede in May, regional data shows
28.05.2020

Germany is anticipating an inflation rate drop as the national preliminary inflation data is set to be released 1200 GMT. This reading surfaced after regional inflation figures showed inflation plunging in the month of May. Some German states including North Rhine-Westphalia yielded a tamed consumer price inflation, with a 0.5% year-on-year compared to 0.8% in…

Dollar firms as U.S.-China tensions rise
28.05.2020

The dollar firmed on Thursday as the U.S.-China tensions continue to grow, building pressure on the yuan and dampening optimism about economic recovery. The growing tensions between the U.S. and China affected both the Australian and New Zealand dollars. Both currencies retreated from two-month highs with the Aussie at $0.6621 and the kiwi at $0.6188….

Oil falls on unexpected build-up in U.S. stocks, dampens recovery hopes
28.05.2020

Oil prices fell for the second day on Thursday as U.S. industry data reported a rise in crude inventories. This dampened hopes of a faster recovery in demand as countries worldwide emerge from lockdowns. The successive declines came after the uncertainty in Russia’s commitment to further production cuts as the June 9 meeting of OPEC+…

Australia likely to dismiss negative rates, extra QE as economy resumes
28.05.2020

Australia’s economic contraction may come milder than previously thought, completely disregarding the possibility of negative interest rates or quantitative easing measures, the Reserve Bank of Australia said on Thursday. Though the country has started lifting lockdowns, the overall economic outlook is still dim. The land down under had seen dire inflation rate and unemployment surge,…