After more than six years of negotiations, more than a dozen countries in Asia Pacific are now aiming to sign what would be the world’s largest trade agreement in 2020.
Australia
Gold on Track for Weekly Rise After US Tariff Hike Takes Effect – Gold Silver Reports
Gold Silver Reports (GSR) – U.S. President Donald Trump’s tariff increase to 25 percent on $200 billion worth of Chinese-goods took effect on Friday, and Beijing said it would strike back, ratcheting up tensions as the two sides pursue last-ditch talks to try salvaging a TradeDeal.
Fed says Minutes to be Released on Time as Offices Close
The U.S. Federal Reserve said minutes of its January policy meeting would be released on Wednesday as scheduled though its offices in Washington would be closed due to bad weather.
MCX Zinc Price Below 186 Target 176—163 – Neal Bhai Reports
Gold Silver Reports (GSR) – MCX Zinc settled down 3.06% at 181.95 as pressure continues on an expected surge in refined zinc output after a clutch of new mine openings has been derailed by bottlenecks at smelters across Asia, putting the brakes on an eye-watering price fall.
Dollar Pressured as Fed Officials Caution about Global Growth, Yen Firms
Gold Silver Reports (GSR) – The U.S. currency has enjoyed a strong run this year thanks to the Fed’s steady policy tightening on the back of a robust economy and rising wage pressures. A fourth rate hike for this year is expected next month and policy makers had indicated two more by June 2019.
Gold Hits Three-Month Peak as Stocks Slide, Palladium at Record
Gold jumped 1 percent to a more than three-month peak on Tuesday, with investors spurred on by a slide in global equities and rising political and economic uncertainty, including concerns over Italy’s spending plans.
Nikkei Hits 27 Year High on Strong Dollar, Wall Street Gains
Japan’s Nikkei hit a 27-year high on Friday, taking heart from a boost for the dollar after the Federal Reserve chairman said he did not expect a near-term recession, and strong gains on Wall Street overnight.
Big Week Ahead for Central Banks in Australia and New Zealand
Gold Silver Reports (GSR) – The Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand (RBNZ) both meet this week
✅ RBA on Tuesday 6 August 2018 (statement at 0130GMT)
✅ RBNZ on Thursday 9 August (statement on Wednesday 8 August at 2100GMT)
Stocks Market Watch – PNB, Tata Steel, Goa Carbon, Sterlite Tech
Gold Silver Reports (GSR) – Stocks Market Watch – PNB, Tata Steel, Goa Carbon, Sterlite Tech – Asian stocks gained, building on a positive Friday session for global equities, as investors watched for developments in trade tensions between China and the U.S. before earnings season gets underway later this week.
Australia Denies Security Deal Was Behind U.S. Tariff Exemptions
Gold Silver Reports – Australia Denies Security Deal Was Behind U.S. Tariff Exemptions — Australian Minister for Trade and Investment Steven Ciobo denied that Australia struck a security agreement with the U.S. to get exempted from tariffs on steel and aluminum announced by President Donald Trump.