Gold Steadies Ahead of Fed Meeting
14 Mar. 2016
Gold steadied on Monday, paring earlier gains as stock markets and the dollar gained, with moves muted ahead of closely watched policy meetings of U.S. and Japanese central banks this week.
Spot gold was little changed at $1,248.66 an ounce at 1442 GMT, off an earlier high of $1,260.71. The metal, which is highly sensitive to monetary policy and resulting currency moves, bounced to a 13-month high on Friday after the European Central Bank signaled an end to rate cuts, pushing the euro sharply higher versus the dollar.
U.S. Import Prices Fell 0.3% in February
11 Mar. 2016
Prices for imported goods fell last month in a sign that global economic weakness, the strong dollar and cheap oil may continue to curb overall U.S. inflation. Import prices decreased 0.3% in February from the prior month after falling a revised 1.0% in January, the Labor Department said Friday.
Import prices were down 6.1% in February from a year earlier, though that was the smallest annual drop since December 2014.
European Central Bank Launches Stimulus Plan
10 Mar. 2016
The European Central Bank cut all its main interest rates, expanded its bond-buying stimulus program and offered new cheap long-term loans to banks, making an unexpectedly aggressive move to boost inflation and economic growth in the 19 countries that share the euro.
The bank's steps on most counts exceeded expectations among analysts, suggesting that it was determined to have an impact and avoid the market disappointment that occurred after its Dec. 3 meeting, when it was seen as having done less than it could have. Stock markets surged Thursday after the ECB's announcement.
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