Ben Bernanke
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Gold settled higher as the dollar remained under pressure and as a senior Federal Reserve official said the central bank is in no hurry to start winding down its economic stimulus.
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Financial markets were roiled after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago.
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LONDON, May 23- Gold bounced back on Thursday from the previous session's losses as the dollar fell sharply and European shares dropped after weak Chinese factory activity added to concerns about a delayed recovery in the country.
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LONDON, May 23- Chinese factory activity shrank in May for the first time in seven months, overshadowing signs that the euro zone's downturn tempered slightly in May, business surveys showed on Thursday. Federal Reserve Chairman Ben Bernanke, who hinted on Wednesday the Fed could soon pare back its bond-buying with new money if the economy maintains momentum.
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WASHINGTON-- Sales of new homes likely rose in April, evidence that the housing market is gaining strength during the critical spring buying season. The report from the Commerce Department is due at 10 a.m. Eastern. In March, sales increased to a rate of 417,000. That was close to January's pace of 445,000, the fastest since July 2008.
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WASHINGTON-- The number of Americans applying for unemployment benefits likely fell last week, another sign of a steadily improving job market. The Labor Department will release the report at 8:30 a.m. EDT Thursday.
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LONDON, May 23- The Federal Reserve should stick with its asset-buying programme and adjust the pace depending on how economic data comes in, a top policymaker at the U.S. central bank said on Thursday.
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*China factory activity shrinks in April- HSBC survey. SHANGHAI, May 23- China's yuan, which hit record highs the past two days, closed slightly lower against the dollar on Thursday after the central bank signalled a pause in moves encouraging appreciation for the currency.
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LONDON, May 22- Share markets fell sharply on Thursday as investors piled back into safer assets, unnerved by the twin setbacks of unexpected weakness in China's economy and signals that the U.S. central bank may soon scale back its stimulus programme.
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LONDON, May 23- The yen vaulted to two-week highs against the dollar and the euro on Thursday as a slide in equities encouraged profit-taking on the safe-haven currency's recent sharp falls.
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SINGAPORE, May 23- Hawkish comments by U.S. Federal Reserve Chairman Ben Bernanke and weakness in China's factory activity rocked Asian markets on Thursday, took the dollar to three-year highs, sent share markets lower, and hit the Japanese government bond market as yields rose to their highest in a year.
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Japan is in the middle of a "big monetary experiment," from which market volatility should be expected, Ben Broadbent, a member of the Bank of England's Monetary Policy Committee, told CNBC.
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*China data heaps pressure on indexes at 5- yr highs. *Halfords wilts in wake of dividend cut. Federal Reserve could soon taper its stimulus programme and compounded by weak economic data from China.
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*Copper falls as much as 3 pct, oil down for third day. SINGAPORE, May 23- Copper fell 3 percent and oil dropped for a third day on Thursday after a factory survey suggested China's economic recovery has stalled and Federal Reserve Chairman Ben Bernanke hinted at possible cutbacks in the U.S. stimulus plan.
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LONDON, May 23- Oil fell below $102 a barrel on Thursday in a broader commodities selloff as a decline in China's factory activity entrenched concern about weak demand and on worries about an early scale-back in Federal Reserve stimulus. China's factory activity shrank for the first time in seven months in May, a survey showed.
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*Gold reverses losses but still near two-year low of $1,321.35 Fed needs to see more from economy before scaling back bond-buying- Bernanke. SINGAPORE, May 23- Gold climbed off session lows on Thursday after weak Chinese factory activity jolted stock markets in Asia, sending investors back to the precious metal despite expectations the U.S.
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LONDON, May 22- Concerns over the future of the U.S. The shift from riskier assets to safer markets was triggered when Fed Chairman Ben Bernanke told a congressional committee on Wednesday the central bank could scale back the pace of bond purchases at one of its next few policy meetings.
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CHENNAI, India, May 23- Brent crude futures shed a dollar on Thursday to trade below $102 a barrel in a broad-based commodities sell-off, as data cast doubt on recovery in key consumer China and on worries about an early scale-back in Federal Reserve stimulus.
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LONDON, May 23- European equities went into a tailspin early on Thursday, spooked by concerns the U.S.
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TOKYO, May 23- The yen gained across the board on Thursday, bouncing sharply off a 4-1/ 2- year low against the dollar and notching up a two-week high against the euro after a whiplash move in stocks prompted investors to scramble for safety in Japanese bonds.
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Federal Reserve Chairman Ben Bernanke and weakness in China's factory activity rattled Asian markets on Thursday, sending stock prices down, the U.S. dollar to three-year highs, and Japanese government bond yields to their highest in a year.