OECD cuts global growth forecast over trade tensions, Brexit uncertainty

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Trade tensions and political uncertainty, including Brexit, are weighing on the world’s economy, the Organisation for Economic Co-operation and Development (OECD) warned as it again cut its 2019 forecast for global economic growth to 3.3% for the current year, down from 3.5% it predicted earlier. “High policy uncertainty, ongoing trade tensions, and a further erosion […]

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Rising pound, frost, Brexit and French elections dampen fine wine prices

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Frost in growing areas and French elections are adding to uncertainty over prices of new vintage wines after the fine wine market posted its first fall in 17 months, as merchants and investors grappled with currency markets and uncertainty about the pricing of the Bordeaux 2016 vintage. The Liv-ex 100 Fine Wine index, which reflects […]

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Gold seen holding its highly relevant asset class status in 2017

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There might be some concerns that US dollar strength may limit gold’s appeal, but the World Gold Council (WGC) believes that, on the contrary, gold remain highly relevant as a strategic portfolio component. It said in its 2017 outlook report that six major trends will support demand for gold throughout 2017 after investors around the […]

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Daily Masala

Here is what others are talking about this morning: Asia shares rise as yield hunt drives record flows, China data awaited Oil pares near 3-percent gains amid oil glut worries Gold holds steady after recovering from 1-wk low Oil market on path to rebalancing, OPEC monitoring situation: Qatar Disappointing China July imports suggest cooling domestic […]

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Daily Masala

Here is what others are reporting today: World stocks, sterling try to shake off Brexit blues Retail gold buyers take profits in bullion after Brexit price surge Making aluminium semis straight from hot metal saves big energy Most agri commodities up on rupee depreciation Government weighs options to further ease repayments of Indian steel sector Paddy […]

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UK vote to leave the EU is credit negative for UK sovereign and other rated UK entities – Moody’s

The UK’s decision to leave the European Union will lead to a prolonged period of uncertainty that will weigh on the country’s economic and financial performance and will be credit negative for the UK sovereign and other rated entities, Moody’s Investors Service said in a report. The immediate financial market reaction has been pronounced, with […]

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Daily Masala

Here is what others are saying this morning: Sterling, stocks in free fall as UK nears EU exit Sensex dives over 900 points as leads show Britain votes for Brexit; Nifty slips 241 points Sterling plunges to 31-year low, biggest ever fall, as UK votes Brexit Oil tumbles amid market turmoil as BBC calls U.K. […]

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