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News Briefs(1-5-2018)

May 01, 2018 00:00:00

Currencies firm marginally in pre-holiday trade

BUCHAREST/WARSAW, Apr 30: Central European currencies firmed mildly in thin pre-holiday trade on Monday, extending last week's gains across the board following benign economic signals from the United States and the European Central Bank (ECB). Bonds and currencies in the region have been recovering from multi-week lows last week after the ECB played down concerns over soft euro zone economic data and the U.S. 10-year Treasury yield dipped below three percent. All eyes on Wednesday will be on the release of flash inflation for April in Poland. According to a median of forecasts gathered by Reuters, April inflation amounted to 1.5 per cent year-on-year and 0.4 per cent month on month. — Reuters

Copper, aluminium prices increase

MELBOURNE, Apr 30: London copper and aluminium climbed on Monday as the dollar eased from three-month highs and trade stayed quiet given a holiday in China and ahead of a slew of monthly manufacturing reports from the world's top user of metals. Growth in China's vast manufacturing sector eased only slightly in April in a sign of broad economic resilience, though slowing export orders pointed to risks to the outlook amid a simmering Sino-U.S. trade row. London Metal Exchange copper had edged up 0.4 per cent to $6,827 a tonne by 0022 GMT, following a 2.4-per cent loss in the previous session. — Reuters

Gold declines slightly

BENGALURU, Apr 30: Gold prices were little changed on Monday as investor interest in the yellow metal dropped as the U.S. dollar steadied and there were signs of easing tensions on the Korean peninsula, reducing the safe-haven demand for gold. Spot gold fell 0.1 per cent to $1,320.80 per ounce at 0428 GMT. U.S. gold futures for June delivery declined0.1 per cent to $1,322 per ounce. Gold is set for a slight monthly decline of 0.2 per cent for April. "Gold is still tracked very closely with the dollar," said Helen Lau, analyst at Argonaut Securities. The dollar index, which touched a 3-1/2-month high of 91.986 on Friday, was steady at 91.552. — Reuters

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