Goldman Sachs cuts euro, dollar forecasts, citing Italian instability
01:19, Jun 2, 2018
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Speaking to reporters, the official said that Treasury was tracking Italy's political turmoil closely, but he has not seen any systemic impact from volatility in Italian and global markets that was a concern for the United States. Bond prices are climbing and yields are falling, while the euro fell to its lowest levels of 2018 compared to the dollar. Bank shares slumped another 5 per cent, having lost 4 per cent in the previous session, bruised by the sell-off in government bonds, a core part of Italian banks' portfolios.
Bond yields dropped, and with them, interest rates on mortgages and other kinds of loans, hitting bank stocks on expectations lenders would earn thinner profits.
WALL STREET: Major U.S. benchmarks ended little changed on Friday.
ITALIAN INSTABILITY: Investors feared the possibility of a financial crisis in Italy, the third largest economy in Europe, as well as the possibility that elections in the fall could become a referendum on Italy's use of the euro. They're anxious about decreased worldwide cooperation in Europe, which could impair global economic growth.
"As the Italian bond spreads have shrank, the euro is being bought back". The Spanish IBEX 35 sank 2.2 percent.
Eurostat, the European Union's statistics agency, said Thursday that consumer prices were up by an annual rate of 1.9 percent in May, way ahead of April's 1.2 percent.
Elior Group shares jumped over 6 percent after Credit Suisse upgraded its rating on the stock. On Trump and Kim, "we've been down this road many times before, this is a path well worn, and realistically to start chasing risk based on this summit coming back on again could be could be a little bit misguided in the sense we've still got a long way to go". The CAC 40 in France though, underperformed, trading 0.4 per cent lower at 5,415.
USA markets were closed Monday for the Memorial Day holiday.
Italy advanced swiftly toward a populist government on a second try Thursday, after the leaders of the anti-establishment 5-Star Movement and the right-wing League announced a compromise deal aimed at overcoming the president's objections.
After months of stalemate followed an inconclusive parliamentary election in March, the Italian political landscape has shifted into overdrive. And since then, the market has been hit by a populist wave, starting with Greece in 2015, the Brexit vote in mid-2016 and French elections a year ago.
Investors dumped Italian stocks and bonds as a result. The single currency hit a nine-month low of 1.1367 against the franc and a 10-month low of 124.61 yen.
An impressive US job market report would make investors more confident about US economic strength, which would boost the US Dollar outlook in the mid-term too.
The Russell 2000 index of smaller-company stocks slid 2 points, or 0.1 percent, to 1,624.
Dialog's shares have slumped almost 40 percent so far in 2018, following a loss of 35 percent in 2017.
The dollar fell to 108.53 yen from 109.77 yen. The euro fell to $1.1681 from $1.1695.
Israeli Defense Minister Avigdor Lieberman will meet Russian Defense Minister Sergei Shoigu in Moscow on Thursday. The US warned it would take "firm and appropriate measures" in response to any violations of that ceasefire.
Goldman Sachs, though, said even with a slowdown in demand and soaring USA output, global oil markets would remain tight. In addition, the IEA has cut its oil consumption forecasts as higher prices work to reduce future demand.
He runs the Democrats' 2018 campaign operation and says Republicans are miscalculating how much voters care about this issue. If it fails, internet providers would be able to favor certain websites, by slowing them down or speeding them up.
In a 75-30 vote with 74 absentees, Danish lawmakers approved the law presented by the center-right governing coalition. Violators would receive fines of about $156 for a first-time offense, and up to $1,568 for the fourth violation.
Haspel's service and sacrifice, after meeting with her and reviewing classified documents, I do not think she is that person". Despite strong opposition and protest, CIA veteran Gina Haspel has been approved by the senate as the agency's new director.
Already, 26,000 cattle have been destroyed in the 10 months since the disease was first recorded in New Zealand. It has been found on about 40 farms so far, but 192 farms are likely to be involved in the culling.
In game one, Morris recorded 21 points and 10 rebounds and the Celtics beat the Cavaliers 108-83, covering as 1-point favorites. The Cavs apparently have an answer for their Game 1 struggles, and it's inserting Tristan Thompson in the starting lineup.
The Taliban urged the Afghan nation to boycott the elections and said that the country was "occupied" by foreign forces. He said fighters launched attacks from multiple directions, after which they overran several checkpoints in the city.
What does he have in store for 2018? "Who's your favorite player?' Professional sports and the word 'fair" don't belong together". Klay Thompson and the Golden State Warriors will meet the Cleveland Cavaliers for the fourth consecutive year in the NBA Finals .
Climate Justice Saskatoon said their concerns remain when it comes to climate change, spill risks and job creation. Political observers said it's not clear how the pipeline's resurrection will effect next spring's election.
Earlier this month a survey revealed a terrible complacency and lack of preparation among British businesses about GDPR. That said, European Union regulators are clearly going to tread softly on the enforcement front in the short term.
Xiaomi’s new Mi 8 closely mimics Apple’s iPhone X
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Fabinho wants France's Fekir to join him at Reds
Liverpool's Fabinho has been praised by Brazil captain Thiago Silva . "We will certainly know more after the World Cup". The Liverpool new boy has four caps for Brazil but missed out on a place in the Selecao's World Cup squad .
Baseball tumbles in the ACC title game
The entire 64-team bracket and national seeds will be unveiled during Monday's selection show, which airs live on ESPNU at 9 a.m. It will host a four-team regional this week at Conrad Park in DeLand, Florida, where it is 29-3 this season.
Can reduce petrol price by ₹25 a litre: Chidambaram
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State of emergency declared in Florida as Alberto approaches
Navarre Beach Fire Chief Danny Fureigh said double red flags will possibly start flying on Sunday if the surf reaches three feet. It is important to not focus on the exact cone, since impacts will be felt far away from the center of the storm.
Iran tells Europe to step up and save nuclear deal
The new US demands are so intrusive and broad that Iran's rejection of them seemed all but certain even before Rouhani spoke. Russian Federation and China have also criticized the U.S. move and vowed to maintain trade with Iran.