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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (52464)	6/21/2016 6:58:59 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 69291

01:54PMGold futures settle at a nearly two-week low ( GCQ6 ) by Myra P. Saefong Gold futures dropped on Tuesday to settle at their lowest level in almost two weeks. Investors continued to weigh the potential outcome of the U.K. referendum Thursday that will decide whether the country will stay in the European Union. Gold for August delivery (GCQ6) fell $19.60, or 1.5%, to settle at $1,272.50 an ounce. 12:44PMYellen says she's not offering advice to British citizens about Brexit by Greg Robb WASHINGTON (MarketWatch) - Federal Reserve Chairwoman Janet Yellen on Tuesday said she is not picking sides in the debate over whether Britain should remain in the European Union. "I am not attempting to take a stand," Yellen said in testimony to the Senate Banking Committee. Earlier, Yellen said a victory by the "leave camp" could have economic consequences for the U.S. The Brexit referendum "is a unique event that has no close parallel. It is hard to know what the consequences could be," Yellen said. The Fed is watching the situation carefully and "is prepared to act in light of that assessment," the Fed chairwoman said. 12:16PMSen. Elizabeth Warren says process of selecting regional Fed presidents 'is broken' by Greg Robb WASHINGTON (MarketWatch) - Sen. Elizabeth Warren, the Democrat from Massachusetts, said Tuesday that the lack of diversity among Federal Reserve leadership shows the process of selecting regional Fed presidents "is broken." There are currently no African-Americans or Latinos among the 12 regional Fed presidents. These dozen officials are selected by separate boards of directors in each district. "The current process" has not allowed the Fed "to address the persistent lack of diversity among the regional Fed presidents," Warren told Fed Chairwoman Janet Yellen during her testimony to the Senate Banking Committee. Congress should "take a hard look" at reforming the selection process, Warren added, raising the possibility of a push by progressives to have these officials selected by the president and subject to Senate confirmation as are the seven members of the Fed board in Washington including Yellen. 11:47AMYellen sees low chance of recession in U.S. this year by Greg Robb WASHINGTON (MarketWatch) - Federal Reserve Chairwoman Janet Yellen said Tuesday that the chances of a recession in the U.S. this year "are quite low." In testimony to the Senate Banking Committee, Yellen said the U.S. economy is "doing well" even with the recent slowdown in the labor market. The overall economy has been progressing despite "negative influences" from the strong dollar and weak commodity prices. Consumer spending has been "strong," she added. "I think the odds of a recession are low. It is certainly not what I am expect," she said. 11:29AMYellen gingerly asks Congress to take steps to boost worker productivity by Greg Robb WASHINGTON (MarketWatch) - Federal Reserve Chairwoman Janet Yellen gingerly pressed Congress to focus on ways to boost "very low" labor productivity. "I am not going to give you detailed instruction, this is up to Congress to decide," Yellen said. But public investment, workforce development and the pace of technological progress are widely seen by economists as factors that could influence productivity and "should be on Congress' list to focus on," she said. Extremely weak productivity growth since the U.S. recovery began has confounded economists and helps explain why growth has not been as strong as is usually the case after a recession. Productivity has risen a scant 1.2% annually since 2007, compared with a 2.6% rate from 2000-2007. 11:12AMYellen backs away from using negative rates in downturn by Greg Robb WASHINGTON (MarketWatch) - Federal Reserve Chairwoman Janet Yellen on Tuesday distanced the U.S. central bank from using negative interest rate in the event of another economic downturn. The Fed has the legal authority to push rates into negative territory, Yellen said, but, after consideration has cooled on the unconventional tool, she said. "We have identified significant shortcomings of that type of approach," Yellen said. "We don't think we are going to have to provide accommodation and if we do [negative rates] is not something on our list,' the Fed chairwoman said. Many leading central banks around the word, including the Bank of Japan and the European Central Bank, have cut rates into negative territory in an effort to combat deflation. 10:25AMPound pressured as Brexit poll shows 'remain' lead shrinking ( GBPUSD ) by MarketWatch The British pound (GBPUSD) pulled back from a five-month high to slip back below $1.47 after news reports said the latest Survation Brexit poll for IG Group showed 45% OF VOTERS BACKED REMAINING IN THE EUROPEAN UNION versus 44% who favored leaving. While that's a statistical dead heat, it marked a narrowing the "remain" camp's three percentage point lead seen in a poll published Saturday. Other polls released this week had shown momentum shifting back toward the "remain" camp. The British pound traded at $1.4683 in recent action versus near $1.4730 ahead of the release of the poll. The pound is little changed versus the dollar on the day.