Commodities are actively strengthened against the US dollar

Commodity currencies continue to actively strengthen their positions against the US dollar, ignoring the falling prices of oil, as well as the weak fundamental data on the Chinese economy. According to Caixin Media Co. and Markit, activity in China’s services in July 2016, though growing, but at a slower pace. Thus, the purchasing managers index for China’s sphere of services fell to 51.7 points from 52.7 points in June. As noted in the report, the growth of new orders in the service sector companies has slowed, while employment continued to…

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Gold will continue to rise – BlackRock

Gold offers an excellent opportunity to hedge, which means that the metal will show significant growth, says Russ Koesterich of BlackRock. With the fall in bond yields, investors rushed to the precious metals, and gold has added 28% since the beginning of the year. “We are in the middle of sluggish economy and increased volatility. In such circumstances it is necessary a insurance for the portfolio, which is ideal for gold, “- he said. Since the “yellow metal” does not imply yields, investors will suffer considerably if real interest rates start…

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Oil prices are beginning to stabilize – Minister of Saudi Arabia

The global oil market is moving towards equilibrium, and oil prices are beginning to stabilize, said Saudi Oil Minister Khalid Al Fatih. According to the Saudi news agency SPA, the Minister held a meeting with the new Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo, to discuss the role of OPEC in maintaining the stability of the oil market. According to Khalid Al-Fatiha, Saudi Arabia with the help of OPEC is committed to continue to play an important role in providing the world’s growing demand for…

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Australia’s trade deficit increased in May

In May, Australia’s trade balance deficit widened to A $ 2.22 billion, against $ A1.79 billion in April, said the Australian Bureau of Statistics, while analysts had expected that it will be $ A1.7 billion. Exports rose by 1.0% and imports – by 2.0%. Retail sales gained 0.2% in May, while economists were expecting 0.3% gain. Meanwhile, April’s increase was revised down to 0.1% from 0.2%.

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Goldman Sachs fires traders again

Bank reduced the fixed income for 30 traders in the New York division, reliable sources claim. We remind you that the securities division has already been reduced in May and earlier in June were fired another 100 employees in New York. Banks have begun downsizing as a result of failure of the first half year. Especially disappointing was the first quarter. Managing Director of Goldman Sachs high-yield loans division, Erik Kramer, has decided to leave the bank. In addition, this week it became known that Joseph Mauro, head of fixed income division,…

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The Bank of England will cut interest rates to zero – TDS

Analysts TDS believe that after the results of the referendum in the UK the Bank of England will cut interest rates to zero: “We expect that the UK will enter a short and shallow recession like as increased uncertainty from the victory in the referendum on the exit from the EU will have an impact on the demand for both households and firms. While the exchange rate will help to neutralize part by weakening exports, this gain will be limited. Inflation will rise to above 3% y / y by…

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