China is widely expected to cut its benchmark lending rate on Monday to provide furthersupport for the coronavirus-hit economy, which shrank for the 1st time on record in the 1st quarter.
China (PRC)
Growth Stumbling But Central Bank Arsenals are Near Empty
Gold Silver Reports – Global economic growth is slowing, according to the International Monetary Fund, policymakers and hundreds of economists polled by Reuters – but that downturn is coming at a time when central banks’ arsenals are running on empty.
China-U.S. Trade Talks ‘Making a Final Sprint’: State Media
Chinese state media on Saturday expressed cautious optimism over trade talks between the United States and China, a day after President Xi Jinping said a week of discussions had produced “step-by-step” progress.
China Poised to Buy More U.S. Soybeans
China bought U.S. soybeans for the first time in six months after U.S. President Donald Trump and his Chinese counterpart Xi Jinping met on Dec. 1 and set a 90-day negotiating window to resolve their trade differences.
Slowing Demand and a Supply Glut to Drain Oil’s Gains in 2019: Reuters Poll
A survey of 38 economists and analysts forecast Brent crude LCOc1 to average $74.50 a barrel in 2019, lower than the $76.88 outlook last month. The poll predicted Brent would average $73.20 in 2018, mostly in line with the $73 average for the global benchmark so far this year.
Gold Prices Steady; Big U.S. Nonfarm Payroll Data Awaited
Gold Silver Reports (GSR) – Gold prices were steady in early Asian trade on Friday, after rising about 1.5 percent in the previous session, while the dollar inched up ahead of the U.S. payrolls data due later in the day.
U.S. Plans More China Tariffs If Trump-Xi Meeting Fails, Sources Say
The United States is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war.
Rupee Slump to Push India to Seek Yuan Trade Settlement
The plan would enable direct convertibility between the rupee and yuan and will help cut transaction and hedging costs, the people said, asking not to be identified citing rules. The proposal would allow Indian exports of pharmaceuticals, oilseeds and sugar to China to be settled in rupee, while keeping out trade in high volume products such as electronics, they said.
China’s Wang says China will not be blackmailed or yield to pressure over trade – GSR
China’s Wang says China will not be blackmailed or yield to pressure over trade GSR — Days after U.S. President Donald Trump denounced globalism at the United Nations, China positioned itself Friday as a “champion of multilateralism” that is keeping international promises when Washington is backing away from them.
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.