Gold Up on Report China May Slow US Treasury Buys

Man walks past an electronic screen displaying the Nikkei share average in Tokyo

Japan's Nikkei finished 0.3 percent lower. The justice ministry has taken the sternest stance on digital currencies among South Korean ministries but other government agencies reportedly oppose an outright ban on bitcoin and other virtual currency trading.

On Wednesday, Bloomberg, citing unidentified people familiar with the matter, said China found that US bonds were becoming less attractive and that trade tensions with the USA could provide a reason to stop buying American government paper.

"We think this story could be quoting a mistaken source or it could also be a piece of fake news".

"We go into the year on the proviso that the while the dollar may have become a little oversold and due a moderate correction, we favour the dollar structural depreciation to extend", Jeremy Stretch, currency strategist at London-based CIBC Capital Markets, told the Reuters Global Markets Forum. "The market seems to have been looking for one-sided news to sell the dollar this week".

China has the world's largest foreign currency reserves, over $3 trillion, and is the biggest investor in United States government bonds, with $1.2 trillion in Treasuries as of October 2017, according to Treasury Department data. The Bloomberg News report had lifted yields on the 10-year government bond to a 10-month high on Wednesday. The VIX implied volatility index, the markets' so-called "fear gauge", hovered just above 10 on Thursday, from as low as 8.92 on January 2.

Alert level raised after volcano eruption in the Philippines
It was at its most deadly in February 1841, when 1200 people were killed and lava buried a town. Thousands of people have been moved to safe shelters following the eruption of Mt.

The State Administration of Foreign Exchange (SAFE), which oversees China's massive currency reserves, questioned the accuracy of the news in a statement published on its website on Thursday. Higher interest rates in the eurozone can attract money managers at the expense of U.S. Treasurys, which may see outflows.

A separate probe into Chinese intellectual property practices may also conclude as early as this month, Axios reported, and could result in tariffs on the country's consumer-electronics exports.

"If China ceases to be a net purchaser of US Treasuries, this is unlikely to have a significant impact on the overall yield curve unless China divests a large share of its total holdings in a short time period", said Rajiv Biswas, Singaporebased chief Asia-Pacific economist at IHS Markit.

The euro traded at US$1.1950, extending its rebound from Tuesday's low of $1.1916.

An official of a bank-affiliated securities firm said the dollar's topside is likely to remain limited amid lingering speculation that the Bank of Japan will start tapering monetary stimulus following Tuesday's cut in the amount of super long-term Japanese government bonds it buys. "That's not helpful to a bond market that's already under pressure". Estimates say China now holds around $1.2 trillion (€1.0 trillion) in U.S. debt, an amount that has doubled over the past 10 years.

Related News:

  • African ambassadors demand apology from Trump

    African ambassadors demand apology from Trump

    Earlier, the 55-nation African Union condemned the remarks, while Botswana and Senegal hauled in the U.S. ambassador to complain. Ghana is widely seen as a stable, peaceful country in an often turbulent region, and has close ties to the United States .

    Crown Castle International Corp's (NYSE:CCI) Sentiment is 1.58

    The active investment managers in our partner's database now hold: 377.71 million shares, up from 329.57 million shares in 2017Q2. Westpac Bk Corp reported 13,913 shares. (REIT) has had earnings per share growth of 12.90% over the past five years. (NYSE:PPG).
    Tina Smith To Replace Disgraced Sen. Al Franken

    Tina Smith To Replace Disgraced Sen. Al Franken

    Senator smith addressed issues she wants to focus on while in Washington, from paid parental leave to maintaining roads. Smith was appointed to replace Al Franken , who resigned last week after weeks of allegations of sexual misconduct.
  • Stock in Queue: Barnes & Noble (BKS)

    The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. Shareholder yield has the ability to show how much money the firm is giving back to shareholders via a few different avenues.
    Rafa Benitez reacts to Jonjo Shelvey's handshake snub at Newcastle

    Rafa Benitez reacts to Jonjo Shelvey's handshake snub at Newcastle

    We don't have any offers. "But if somebody wants to buy, we'll see if the price is good for us and for the player". JONJO SHELVEY was furious with boss Rafa Benitez after being subbed in Newcastle's 1-1 draw with Swansea.
    Happy Makar Sankranti 2018: Bollywood and Traditional songs to play for celebrations

    Happy Makar Sankranti 2018: Bollywood and Traditional songs to play for celebrations

    In a series of tweets, the Prime Minister extended his greetings to all those celebrating various festivals. The festival marks the onset of summer and an auspicious six months period for Hindus known as Uttaarayan.
  • Snow chances trending lower for Wednesday

    Snow chances trending lower for Wednesday

    Snow showers will move into western IN by late Sunday evening with more widespread snow showers through the overnight. While the threat of a significant snowstorm has decreased, the potential for light snow remains on the table.
    Plane dangles off cliff after skidding off runway in Turkey

    Plane dangles off cliff after skidding off runway in Turkey

    No one was injured in the incident and all 162 passengers and six crew on board were evacuated, Trabzon Governor Yucel Yavuz said. Passengers panicked. "We tilted to the side, the front was down while the plane's rear was up".

    (GT) Position Raised by JPMorgan Chase & Co

    The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.85 by $0.33. Institutional investors and hedge funds own 91.92% of the company's stock. 47 funds opened positions while 148 raised stakes.
  • Texans to hire Bills exec Brian Gaine as GM

    Texans to hire Bills exec Brian Gaine as GM

    It was the program's last state title until the Ironmen's run of dominance began in the early 2000s under coach Greg Toal. NFL Network's Ian Rapoport reports the Texans are expected to hire Bills VP of player personnel Brian Gaine as their GM.
    National Football League  investigating whether Raiders complied with Rooney Rule before hiring Jon Gruden

    National Football League investigating whether Raiders complied with Rooney Rule before hiring Jon Gruden

    Cable had been the Seahawks' offensive line coach and assistant head coach from 2011 until Wednesday, when he was sacked . Gruden was on the Green Bay coaching staff from 1992-94 while Bennett was the Packers running back.
    I'm not 100 percent: Federer plays down Australian Open title hopes

    I'm not 100 percent: Federer plays down Australian Open title hopes

    Obviously, winning a tournament before you play a grand slam helps", he said. "I can't expend too much energy on other things". Even if it's 100 per cent healed, after six months of no competition, you never know how you're going to react".


Most liked

Jose Mourinho admits Manchester United could sell Henrikh Mkhitaryan
Mourinho has admitted that Manchester United can not buy their way to the title because Manchester City's lead is too big. Also, while mentioning the United's training schedule in Dubai, Mourinho concluded, "It was very good".

Cold temperatures are back with light snow coming our way
Baltimore health department Commissioner Leana Wen issued a "Code Blue" advisory from Saturday night through Monday morning. Visibility could be reduced under 1 mile at times as snow falls through the overnight hours and into Sunday morning.

US again accepting DACA renewal requests after judge bucks Trump
It's a matter of simple supply and demand: More people available for jobs means lower wages and benefits for all. Still, it's unclear how Trump's comments will affect the negotiations for now.

National Basketball Association roundup: Pacers fight back to beat Cavaliers
Anthony Davis swallowed up the Portland Trail Blazers with a dominant outing that left him with 36 points and nine rebounds. He has only played in 21 games thus far and he's posting the worst numbers of his career across the board.

Hard search goes on in California mudslides
This January 2017, photo provided by Kelly Weimer, shows Jim Mitchell, 89, with his wife, Alice Mitchell, 78, and their dog, Gigi. He and his partner of 17 years, Ralph "Lalo" Barajas, were swept out of their home before dawn Tuesday by the devastating slide.

'The Walking Dead' Gets New Showrunner
This move also means that The Walking Dead ship needs a new captain, and Gimple has passed the torch to Angela Kang . Goldberg taking over as showrunners this season after the departure of co-creator Dave Erickson.

Take-Two Interactive Software's (TTWO) "Buy" Rating Reiterated at KeyCorp
Take-Two Interactive Software, Inc is a developer, publisher and marketer of entertainment for consumers around the world. M Partners maintained Take-Two Interactive Software, Inc. (NASDAQ:TTWO) on Monday, November 13 with "Outperform" rating.

Court rules in favor of Trump over fate of consumer…
Kelly had expressed skepticism in hearings last month about whether English would prevail in her case. Kelly came to the same conclusion Wednesday, denying English's request for a preliminary injunction.

Trump's 'shithole' remarks targeted at Hatians, Africans sparks global outrage
Trump also denied saying "anything derogatory about Haitians other than Haiti is, obviously, a very poor and troubled country". He added the country "would be forced to take large numbers of people from high crime countries which are doing badly".

Reaction to judge's decision to block the end of DACA
Steve King , an Iowa Republican and one of most conservative voices in the House who opposes legal status for Dreamers . Richard Durbin of IL - a leader of the bipartisan Senate group - was among the seven lawmakers at the noontime meeting.

White House doctor declares Trump 'in excellent health'
The ANC is not in a position to stop any president from any country from saying anything they wish, she said. He said these hate-filled things.

DARK SOULS REMASTERED is Coming to Nintendo Switch
However, the Twitter user notes that even if the game is being remastered for PS4, don't expect details to be revealed soon. Along with graphical changes, the concurrent online player count has been increased to 6 players for all the platforms.

Passenger jet slides off track at Trabzon global airport
Flights resumed at the Trabzon International Airport on Sunday, after being temporarily suspended following the incident. The airport was shut down as firefighters rushed to the scene and doused the plane in water.

Amid global outrage, Myanmar books 2 journos for reporting on Rakhine violence
The trial against Wa Lone and Kyaw Soe Oo is scheduled to begin on January 23. The two journalists had worked on Reuters coverage of the crisis in Rakhine.

Major injury boost for Liverpool ahead of Manchester City game
Guardiola played down City's poor record at Anfield , where they have not won in years. "If nothing happens then yes, Mo is back". Liverpool could remain unbeaten in their opening 12 home matches of a Premier League season for the first time since 2011-12.