PHOTO
13 April 2017
Gold hit a five-month peak on Thursday as the U.S. dollar slid after President Donald Trump said he preferred lower interest rates with the greenback "too strong", and amid rising tensions over U.S. relations with Russia and North Korea.The greenback took a heavy hit after Trump told the Wall Street Journal that the dollar "is getting too strong".
Asian stocks swung between gains and losses with MSCI's broadest index of Asia-Pacific shares outside Japan last up about 0.2 percent.
Generally positive first-quarter results from Gulf banks helped lift financial stocks on Wednesday, while Saudi Arabia's third-largest telecoms operator jumped by its daily limit after reporting its first ever quarterly net profit.
Crude oil futures slid for a second session on Thursday, moving away from a one-month high touched briefly in the last session as rising U.S. production stoked worries about global oversupply.
In the latest news, the World Bank kept its 2017 economic growth forecast for developing East Asia and the Pacific unchanged, but added the region is vulnerable to any sharp slowdown in global trade or tightening in financial conditions.
China's banking regulator has told lenders to conduct checks on improper trading, incentives, innovation and charges, according to a document seen by Reuters.The move is the latest in a flurry of orders from the regulator after Guo Shuqing took the helm of the China Banking Regulatory Commission (CBRC) in February.
Singapore's central bank held policy steady as expected on Thursday, saying a "neutral" stance will be needed for an extended period as it looked to support an economy that contracted in the first quarter amid lingering risks to the global outlook.
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Gold hit a five-month peak on Thursday as the U.S. dollar slid after President Donald Trump said he preferred lower interest rates with the greenback "too strong", and amid rising tensions over U.S. relations with Russia and North Korea.The greenback took a heavy hit after Trump told the Wall Street Journal that the dollar "is getting too strong".
Asian stocks swung between gains and losses with MSCI's broadest index of Asia-Pacific shares outside Japan last up about 0.2 percent.
Generally positive first-quarter results from Gulf banks helped lift financial stocks on Wednesday, while Saudi Arabia's third-largest telecoms operator jumped by its daily limit after reporting its first ever quarterly net profit.
Crude oil futures slid for a second session on Thursday, moving away from a one-month high touched briefly in the last session as rising U.S. production stoked worries about global oversupply.
In the latest news, the World Bank kept its 2017 economic growth forecast for developing East Asia and the Pacific unchanged, but added the region is vulnerable to any sharp slowdown in global trade or tightening in financial conditions.
China's banking regulator has told lenders to conduct checks on improper trading, incentives, innovation and charges, according to a document seen by Reuters.The move is the latest in a flurry of orders from the regulator after Guo Shuqing took the helm of the China Banking Regulatory Commission (CBRC) in February.
Singapore's central bank held policy steady as expected on Thursday, saying a "neutral" stance will be needed for an extended period as it looked to support an economy that contracted in the first quarter amid lingering risks to the global outlook.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
