Stocks Sell Off on Powell, Poor Data; Yen Climbs

Gold Silver Reports – Stocks Sell Off on Powell, Poor Data; Yen Climbs — Stocks in Asia followed their U.S. counterparts lower after hawkish comments from Federal Reserve Chair Jerome Powell and weaker-than-expected economic data from China and Japan. The yen strengthened after the Bank of Japan reduced longer dated bond purchases.

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US: Fed’s Powell suggests bias for rate hikes – ING

Gold Silver Reports- US: Fed’s Powell suggests bias for rate hikes – ING  — James Knightley, Chief International Economist at ING, hold the view that the Fed Chair Jerome Powell’s prepared text of the Congressional testimony hinted towards upside risks for interest rates and thus, anticipates four rate hikes this year.

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U.S. Weighs Venezuela Oil Sanctions Before April Vote

Gold Silver Reports – U.S. Weighs Venezuela Oil Sanctions Before April Vote — The U.S. is leaning toward imposing oil-sector sanctions on Venezuela before the country holds April 22 elections that opposition leaders have vowed to boycott, according to a senior State Department official.

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Powell Sees Gradual Hikes Amid Strong U.S. Growth Outlook

Gold Silver Reports – Powell Sees Gradual Hikes Amid Strong U.S. Growth Outlook — Federal Reserve Chairman Jerome Powell said the central bank can continue gradually raising interest rates as the outlook for growth remains strong, and the recent bout of financial volatility shouldn’t weigh on the U.S. economy.

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