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Gold Spot

Gold prices jumped over 1% on Thursday supported by an interest rate cut by the U.S. Federal Reserve and as uncertainty surrounding a U.S.-China trade deal bolstered the metal’s safe-haven appeal.

Technical Resistance: 1522/1535

Technical support: 1480/1461

 

Wall Street and S&P 500 retreats from record on trade cloudiness

U.S. stocks fell on Thursday as conflicting tones surrounding a possible trade deal between the United States and China overshadowed strong earnings reports from Apple and Facebook. Mixed signals around US-China trade deal gave investors reason for caution after a Bloomberg report said Chinese officials have doubts about whether it is possible to reach a comprehensive long-term trade deal with Washington and U.S. President Donald Trump.

 

BOJ sends clearer signal of rate cut chance; keeps policy steady

The Bank of Japan kept monetary policy steady on Thursday as expected but gave the strongest signal to date that it may cut interest rates in the near future, underscoring its concern that overseas risks could derail a fragile economic recovery.

 

South Korea October exports fall most in almost four years on chips, China demand

South Korean exports in October fell for an 11th consecutive month and by the most in nearly four years on-year as shipments to China kept slowing and computer chip prices plunged, data showed on Friday. The country’s exports dropped 14.7% in October from a year earlier according to trade ministry data.

 

U.S. weekly jobless claims rise more than expected

Initial claims for state unemployment benefits increased 5,000 to a seasonally adjusted 218,000 for the week ended Oct. 26, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported.

 

Source: Bloomberg, CNBC, Reuters

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