Despite US Rate Increases, the Dollar's Biggest Gains Look Done for Now
19 March, 2017, 01:07 | Author: Elaine Woods
With support showing-up around this key level, we may be seeing the rate hike that's largely-expected to take place later today being priced-in.
At 3:13 p.m., the Dow Jones Industrial Average was down 34.93 points, or 0.17 percent, to 20,915.17, the S&P 500 had lost 5.85 points, or 0.25 percent, to 2,379.41, and the Nasdaq Composite had dropped 5.46 points, or 0.09 percent, to 5,894.59. The S&P 500 rose 0.8 percent one day after the Fed's decision.
Gold is highly sensitive to rising U.S. interest rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced.
Still, some market strategists see near-term headwinds for precious metals, especially since the bullish sentiment spurred by President Donald Trump's proposals to juice the US economy through fiscal-stimulus measures haven't entirely vanished.
After jumping almost 2 percent in the wake of the Fed meeting, the lira slipped 0.4 percent on Thursday.
Analysts said the election this week in Holland had calmed concerns over political risk in Europe, as Dutch center-right Prime Minister Mark Rutte fought off the challenge of anti-Islam and anti-EU rival Geert Wilders. After Britain's vote in summer to exit the European Union, investors wondered whether the Dutch election and others scheduled later this year on the continent could lead the European Union to break apart.
SOME CENTRAL BANKS FOLLOW THE FED: China's central bank raised a short-term interest rate on lending to banks but left its benchmark rate unchanged after the US increase.
SNP: UK Government running scared of second independence vote
The remarks upped the ante in a war of words over Scottish independence as Britain prepares for intense European Union exit talks. Theresa May called for the country to come together to ensure "we can get the best deal for the whole of the United Kingdom".
The 10-year Treasury yield fell to 2.51 percent from 2.54 percent late Thursday.
"Even though the dot plot is not relevant because so much can change, the Fed reminded us all of the gradual nature of their expected behaviour on this rate hike cycle", said Peter Boockvar, chief market analyst at The Lindsey Group, in a Wednesday note.
The central bank's rate increase was spurred by steady economic growth, strong job gains and confidence that inflation is rising to the central bank's target.
Data:French inflation rose 1.2% (http://www.marketwatch.com/story/french-inflation-confirmed-as-slowing-in-february-2017-03-15) on the year in February, slowing from January's rate, statistics agency Insee said.
On Thursday, Hong Kong stocks were up 1.7 percent, Shanghai adding 0.8 percent and Seoul advancing 0.8 percent.
The yellow metal was trading 0.20 per cent, or Rs 50, up at 28,467 per 10 gram, while the white metal was up 0.31 per cent, or Rs 124, at Rs 40,722 per 1 kg.
CURRENCIES: The euro from dipped to $1.0746 from $1.0749 late Thursday, and the British pound fell to $1.2367 from $1.2358.
According to a report by Fortune , Tesla shares opened at $264 today morning before dropping 0.7% and then rebounding. Elon Musk recently attended the 2017 World Government Summit in Dubai, to launch Tesla in the UAE.
It is safe to say that Los Angeles Dodgers' first baseman Adrian Gonzalez is not the biggest fan of the World Baseball Classic . Not only have there been some very good games early on, but there has been a playoff-type atmosphere during numerous matchups.
Goa Governor Mridula Sinha on Sunday appointed Defence Minister Manohar Parrikar as the new Chief Minister of Goa. Mr Parrikar exuded confidence that the BJP would prove its majority on the floor of the House on March 16.
Arsenal legend Paul Merson has described his former side's upcoming trip to West Bromwich Albion as a potential banana skin. The Baggies could lose three Premier League games in a row for the first time this season .
Paramedic Todd Zobrist pulled the boy's lifeless body out of the SUV and used the roof of the vehicle as a surface to perform CPR. The neighbor, Sherry Ricker, told the newspaper that she saw Cristy Campbell and held her infant son just three days earlier.
Thumb up a few tracks on any Pandora radio station and Premium will automatically create a new playlist of these songs too. Existing Pandora radio subscribers will be able to try the new streaming service for no additional cost.
Twitter Counter's Ginor added: "We do not store users' Twitter account credentials (passwords) nor credit card information". Twitter Counter informed users that it has now cut off tweet posting through its system and changed its Twitter app key.
Note: Manipur and Goa have been marked in red because at the time of writing, no party was in a position to form the government. However, Congress MLA Thounaojam Shyam Kumar, who has reportedly joined the BJP, was conspicuous by his absence.
Her British DJ boyfriend, David James Taylor, was convicted of the same offence and jailed for six years. Taylor, known as DJ Nutzo, was supported in court by his parents John and Janet Taylor from the UK.
Claims for unemployment benefits dip by 2000
The number of unemployed residents rose by 2,726 to 23,887, while the number of employed residents decreased by 1,094 to 387,721. The number of unemployed residents in the region rose from December to January by 1,033 to 14,139, labor officials said.
Watch all the action from the Cheltenham Festival Friday
I wasn't too anxious about the result because we have had such a good day anyway but Defi made it look easy", she said. Despite his late charge, Mullins couldn't hold off Gordon Elliott in the race to be leading trainer at the Festival.
States seeking Trump travel ban block want new hearing
Giving those explanations, it's hard to understand why the United States is still allowing travel from, say, Afghanistan. It still suspends admission of refugees and still bans issuing visas to a group of Muslim countries.