growth fears hit oil price gold recovers
Last Updated : GMT 15:30:33
Arab Today, arab today
Arab Today, arab today

Growth fears hit oil price, gold recovers

Arab Today, arab today

Arab Today, arab today Growth fears hit oil price, gold recovers

London - Arabstoday

European shares dropped sharply as investors switched to stronger markets in the US and Asia, where economic growth prospects are brighter due to massive central bank stimulus. Expectations of further support from the US Federal Reserve and the Bank of Japan amid signs of weak inflation also helped gold to recover from its lowest level in over two years hit yesterday after three days of heavy selling. “Fund managers in Europe are switching guns because they are seeing on the one side Japan with positive momentum and Europe just getting deeper and deeper into a recessionary environment,” Didier Duret, chief investment officer at ABN Amro. Concerns have risen since the International Monetary Fund trimmed its forecasts for the world economy for this year and next on Tuesday, showing modest growth in the US, expansion in Japan and weakness in Europe. The pan-European FTSEurofirst extended a three-day losing streak to fall 0.8 percent in morning trade while London’s FTSE 100, Paris’s CAC-40 and Frankfurt’s DAX were as much as 1.2 percent lower. Earlier MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent, rebounding from yesterday’s selloff when it fell as much as 1 percent and was close to its 2013 low. US stocks jumped more than 1 percent on Tuesday, although future point to a weak start when Wall Street reopens. Gold, which has posted its biggest falls in over 30 years since last Friday, was last trading at $1,383.65, up around 0.8 percent. “You’d expect to see a bounce after that kind of a move,” said Citigroup metals strategist David Wilson. “The reason investors have been walking away from gold is that the fear of inflation driven by the expansion in central bank balance sheets is simply not there.” Other industrial commodities such as copper and oil, while supported by the easy Fed and BOJ monetary policies, were weighed down by worries about future demand levels as global growth is likely to remain sluggish. Brent crude oil futures gave up their early gains to dip 0.8 percent to $99.11 a barrel, after breaching the $100 a barrel mark for the first time in nine months yesterday. Three-month copper on the London Metal Exchange eased 1 percent to stand at $7,210 a ton, and has now fallen more than 8 percent for this year. In the currency markets the Japanese yen resumed its fall against the euro and the dollar as traders anticipated flows out of Tokyo by investors looking for higher returns due to the central bank’s aggressive policy easing plans. The dollar gained 0.8 percent to 98.25 yen, although it was still down about 1.6 percent from a four-year high of 99.95 yen set last week. The euro rose 0.8 percent to 129.52 yen , but stayed below its three-year peak of 131.10 yen also hit last week. “Over the next couple of days we might see some consolidation around current levels but with the easing from the BOJ we think the dollar will trade higher versus the yen,” said Marcus Hettinger, global FX strategist at Credit Suisse. Currency traders’ attention was turning to a meeting of finance officials from the Group of 20 leading nations beginning in Washington tomorrow, for any signs of concerns about the yen’s weakness. In the debt market the focus was on a German auction of 3.35 billion euros of 10-year debt, which saw good demand, supported by investors’ expectations that the European Central Bank will cut interest rates in the next few months. Anticipation that Germany’s safe-haven debt will also benefit from Japanese investors switching out of their ultra-low yielding domestic bonds added to its attraction. Yields at the auction were in line with a previous sale in March at around 1.36 percent. Source: Arabnews

arabstoday
arabstoday

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

growth fears hit oil price gold recovers growth fears hit oil price gold recovers

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

growth fears hit oil price gold recovers growth fears hit oil price gold recovers

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday