Gold Holds Gain After Fed Official Raises Growth Outlook Doubt

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Gold held an advance after a Federal Reserve official said that a recent run of weak data cast doubt on the strength of the U.S. economy, clouding the outlook for when the central bank will raise interest rates.

Bullion for immediate delivery traded at $1,193.78 an ounce at 8:09 a.m. in Singapore from $1,193.01 on Tuesday, when prices rose 0.3 percent as the dollar fell, according to Bloomberg generic pricing.

Gold is little changed this year as investors digest U.S. data and policy makers’ remarks to gauge when the Fed will raise borrowing costs. There is value to ‘‘watchful waiting’’ while additional data clarify the economy’s momentum, Fed Reserve Governor Lael Brainard said Tuesday, citing headwinds including a stronger dollar, weakness in Europe and China, and a drop in oil. Recent reports showed gross domestic product shrank in the first quarter, while consumer spending stalled in April.

Brainard’s comments contrast with a May 22 speech by Fed Chair Janet Yellen, who said she expected the economy to improve after first-quarter weakness, making a rate increase appropriate this year. Officials have said they need to see further improvement in the labor market before raising rates, and to be reasonably certain that inflation will move back up toward the Fed’s 2 percent goal.

Gold for August delivery fell 0.1 percent to $1,193.50 an ounce on the Comex.

Silver for immediate delivery was at $16.7895 an ounce from $16.7995 on Tuesday, when prices capped three days of gains. Platinum was little changed at $1,114.53 an ounce, while palladium traded at $768 an ounce from $768.06 on Tuesday.

Source : Bloomberg

PDB Australia Pada Q1 Melebihi Perkiraan Ekonom

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Ekonomi Australia tumbuh pada laju yang lebih cepat melebihi perkiraan para ekonom pada kuartalan bulan Maret, menurut data dari Biro Statistik Australia.

Data ABS menunjukkan produk domestik bruto (PDB) tumbuh disesuaikan secara musiman sebesar 0,9 % dalam 3 bulan terakhir sampai akhir Maret lalu.

Hasilnya sedikit melampaui perkiraan. Ekonom yang disurvei oleh Bloomberg telah memperkirakan pertumbuhan ekonomi sebesar 0,7 % per kuartalan. Hasilnya adalah meningkatnya pertumbuhan ekonomi pada laju 0,5 % pada kuartal bulan Desember.

Selama 12 bulan terakhir sampai bulan Maret, PDB disesuaikan musiman naik 2,3 %. Angka tersebut dalam setahun penuh masih jauh di bawah tingkat tren pertumbuhan jangka panjang sekitar 3,25 %.

Para analis telah memperkirakan tingkat pertumbuhan tahunan sebesar 2,1 %.

Hari ini data yang muncul setelah pemerintah pusat tip pertumbuhan PDB riil sebesar 2,75 % pada tahun 2015-2016 dalam anggaran bulan Mei, perkiraan rata-rata RBA dalam setahun yang dikeluarkan dalam pernyataan terbaru pada Kebijakan Moneter, pertumbuhan perekonomian antara 2 % dan 3 %. (knc)

Sumber : BusinessSpectator

Most Asia Stocks Fall Amid Greece Standoff as Japan Drops on Yen

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Most Asian stocks fell as Japanese shares slid on a stronger yen and investors awaited the outcome of talks between Greece and its creditors.

About three shares dropped for every two that advanced on the MSCI Asia Pacific Index, which slipped less than 0.1 percent to 150.41 as of 9:02 a.m. in Tokyo. Japan’s Topix index sank 0.3 percent after the yen gained 0.5 percent against the dollar on Tuesday. The impasse over Greece’s future lingered as both sides worked on rival proposals for the conditions of a financial lifeline with debt payments looming. Bonds in Australia and New Zealand tracked a selloff in European and U.S. debt that was reignited Tuesday.

Greek Prime Minister Alexis Tsipras heads to Brussels for talks after finding himself boxed into a corner as creditors prepare to deliver a final proposal to end the stalemate over a financial lifeline. After European leaders and the head of the International Monetary Fund held talks in Berlin on Monday night, creditors agreed on a document designed to avert a default that will be presented to Greece. Tsipras said the only plan on the table was one his government submitted.

Australia’s S&P/ASX 200 Index fell 0.1 percent, as did New Zealand’s NZX 50 Index. South Korea’s Kospi index added 0.1 percent. Markets in China and Hong Kong have yet to open.

Source : Bloomberg

Japanese Stocks Fall for Second Day as Yen Gains After U.S. Data

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Japanese stocks fell as weaker U.S. economic data sent the dollar lower against the yen, damping the earnings outlook for exporters.

The Topix index dropped 0.4 percent to 1,668.33 as of 9:01 a.m. in Tokyo, falling for a second day after a 12-day rally. The Nikkei 225 Stock Average lost 0.5x percent to 20,432.99. The yen traded at 124.06 per dollar after yesterday strengthening 0.5 percent, snapping seven days of declines that had pushed the Japanese currency to the lowest level since 2002. Disappointing U.S. factory data coupled with signs of progress over Greece’s debt crisis, which sent the euro soaring, compounded losses yesterday for the greenback.

U.S. factory orders in April fell 0.4 percent, compared with the 0.1 percent drop estimated by economists. It was the eighth contraction in nine months.

The euro surged the most in 10 weeks against the dollar as Greece’s creditors were said to be wrapping up a plan to break a deadlock for the disbursement of additional funds, ending months of acrimonious negotiations with creditors and lessening the threat of default.

E-mini futures on the Standard & Poor’s 500 Index added less than 0.1 percent after the underlying measure slipped 0.1 percent on Tuesday in New York.

Source : Bloomberg