Thursday, 19 October, 2017

Shekel weakening after Yellen boosts dollar

US indexes edge higher as banks and technology stocks rise Shekel weakening after Yellen boosts dollar
Melody Ballard | 28 September, 2017, 00:32

The Nikkei average declined 63.14 points or 0.31 percent to 20,267.05, the lowest level since September 15, while the broader Topix index closed 0.50 percent lower at 1,664.43.

(Kitco News) - The recent retreat in gold prices probably is not over, with the Federal Reserve sending a message to markets that policymakers are not done hiking interest rates just yet, analysts said. "Chair Yellen tried to strike a balanced tone in her speech overnight, but was tilted towards the hawkish side". As the figure shows, based on that history, there is a 30 percent probability that inflation could be greater than 3 percent or less than 1 percent next year.

The US dollar index posted a rise by 0.40 percent to 93.04 at 18.20 GMT. But South Korea's Kospi added 0.1 percent to 2,375.92.

North Korea appears to have boosted defenses on its east coast, South Korea's Yonhap news agency reported, after Pyongyang said President Donald Trump had declared war and that it would shoot down US bombers flying near the peninsula.

Gold is highly sensitive to rising United States interest rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the greenback.

President Donald Trump warned North Korea on Tuesday that any USA military option would be "devastating" for Pyongyang, but said the use of force was not Washington's first option to deal with the country's ballistic and nuclear weapons program.

Robben mocks PSG ahead of Bayern Champions League game
The Champions League is where PSG have struggled in recent years. "He brought his experience to a club that did not have much".

Divorce Comedy No Laughing Matter for British Prince Harry and Girlfriend Meghan
Prince Harry founded the global sporting event in 2014 after a visit in to the US-based Warrior Games. Harry and Markle, an American actress, were introduced by friends last summer in London.

NFL Week 3 sees boost in TV ratings
Seven total games on Sunday were decided by one score, one went into overtime and one ended on a game-winning 61-yard field goal. Trump offered $1 billion to buy the Buffalo Bills in 2014, but was ultimately outbid by another ownership group.

Not only is there a "high probability" of a US rate hike in December, but the so-called dot-plot - which charts expectations of individual Fed members - suggests policymakers still envision three rate hikes next year. The large-cap S&P 500 Index closed flat at 2,496.84. But even with uncertainty about the possible reasons for the low rate of inflation - from misjudging the strength of the labor market to the impact of foreign competition on the global supply chain - Yellen said the Fed "should be wary of moving too gradually".

-U.S. data on durable-goods orders, GDP and personal spending later in the week will provide further clues as to the Fed's policy path.

Also scheduled for release at 10:00 a.m. ET is a report on USA consumer confidence, which is expected to show it fell to 120 in September from 122.9 in August. The Dow Jones industrial average lost 11.77 points, nearly 0.1 percent, to 22,284.32. The tech-heavy Nasdaq Composite advanced 9.57 points, or 0.1%, to 6,380.16, recouping a fraction of losses from the previous session.

Compared to the Japanese Yen, the dollar climbed 0.4 percent to 112.19 yen. The euro was at $1.1756-1757, down from $1.1812-1813, and at ¥132.48-49, up from ¥132.01-02.

In other commodities, the Brent crude oil spot price gained 0.14% to $58.61 per barrel as of 04:35 BST.

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