Gold inched higher but was on track for its longest monthly losing streak since January 1997 as the U.S. dollar firmed against the euro after Italy’s budget jitters threatened the European currency.
Interest Rates / Policy
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.
Trade war eating up China industrial profits – Gold Silver Reports
GSR (Gold Silver Reports) — While other data still have yet to show the trade war impact, industrial profits seem to show that the trade war is eating up profits of manufacturers in China, and even more so for foreign manufacturers.
Fed likely to Raise Rates, Possibly end ‘Accommodative’ Policy Era
Gold Silver Reports (GSR) — Two-day policy meeting could mark the formal end of the “accommodative” level of rates the Fed has used to support the American economy since the onset of the 2007-2009 recession.