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Investing.com – Gold prices rose modestly as the U.S. dollar remained flat against its rivals and rising U.S.-China trade tensions fuelled investor appetite for safe-haven gold.
Haven currencies, including the Japanese yen and Swiss franc, inched higher in muted trading Monday, as the trade row between the U.S. and China remained in focus. Trade tensions have been on the rise, with China vowing to retaliate against a U.S. round of tariffs by slapping duties on American export products, including crude oil, and suspending all previous trade agreements with President Donald Trump’s administration. Uncertainty over future relations between the two trade giants saw investors drop risky emerging-market currencies and go for safer ones.
Investing.com – The U.S. dollar was roughly unchanged against its rivals Monday as trade-war angst fuelled demand for safe-haven currencies, keeping a lid on upside momentum in the greenback.
Moody's de Mexico S.A. de C.V has withdrawn the Baa2 (Global Scale, local currency) and Aa2.mx (Mexico National Scale) ratings on the State of Nuevo Leon's enhanced loan with Afirme with an original amount of MXN 700 million and maturity of 20 years. The ratings have been withdrawn following the June 1, 2018 prepayment by the State of Nuevo León. Please refer to the Moody's de México Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.mx.
Moody's de Mexico has withdrawn the Baa1 (Global Scale, local currency) and Aa1.mx (Mexico National Scale) ratings of the MXN 150 million (original face value) enhanced loan of the Municipality of Merida from Banorte with a maturity of 15 years. The ratings have been withdrawn following the June 8, 2018 prepayment of the loan by the Municipality of Merida. Please refer to the Moody's de México Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.mx.
Investing.com - The dollar fell to the day’s lows against the yen on Monday as heightened trade tensions between the U.S. and China hit market sentiment, bolstering safe haven demand for the Japanese currency.
Comex gold futures for August delivery were up 0.21% to $1,281.20 a troy ounce as of 10:28 AM ET (14:28 GMT). On Friday U.S. President Donald Trump announced a 25% tariff on 818 different Chinese goods worth $34 billion beginning on July 6. The two largest economies in the world have been in a tit-for-tat over global trade tariffs in recent months as the two struggle to reconcile their trade differences.
Atlanta Fed President Raphael Bostic said Monday the central bank still hasn't reached the so-called neutral rate -- where policy is neither accommodative nor restrictive. "The level of the policy rate that qualifies as neutral is not something we know with precision," Bostic said at the Rotary Club of Savannah.
The S&P 500 was down 20 points or 0.74% to 2,758.94 as of 9:38 AM ET (13:38 GMT) while the Dow composite decreased 235 points or 0.94% to 24,855.30 and tech heavy NASDAQ Composite fell over 61 points or 0.79% to 7,685.17.
Bitcoin was trading at $6,435.90, falling 0.62% the Bitfinex exchange, as of 9:12 AM ET (13: 12 GMT), down 4.45% over the week.
Investing.com – U.S. futures were lower on Monday as rising trade tensions between the U.S. and China continued to weigh on investors.The S&P 500 futures was down 16 points or 0.58% to 2,786.25 as of 6:45 AM ET (10:45 GMT) while Dow futures decreased 176 points or 0.70% to 24,933.0. Meanwhile tech heavy Nasdaq 100 futures fell 50 points or 0.69% to 7,231.25.On Friday U.S. President Donald Trump announced a 25% tariff on 818 different Chinese goods worth $34 billion beginning on July 6. China promptly retaliated with a 25% tariff on U.S. ...
Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to Friday’s high at 1.1628.
Investing.com - The dollar pushed higher against a currency basket on Monday, boosted by the diverging monetary policy outlook between the U.S. and Europe, while the yen remained supported as trade tensions underpinned safe haven demand.