US Treasuries slump ahead of FOMC member Kaplan's speech, Jackson Hole Symposium
US Treasuries slump ahead of FOMC member Kaplan's speech, Jackson Hole Symposium
23 August, 2017, 00:30
Analysts are divided as to whether or not Mario Draghi, the ECB President, will drop hints on a policy shift at this week's Jackson Holy symposium of central bankers.
It originated as a deeply technical event, rather than a forum for central bankers to share their thoughts on the state of the economy with the world's investors and media, although it has evolved into that. It held well below a 2-1/2-year high above $1.19 hit earlier this month as markets bet the euro's double-digit gains this year may be too much for a central bank that is still wary of removing stimulus.
"(Federal Reserve boss Janet) Yellen looks to have just four months left in her role, possibly leaving her in a more favourable spot to raise interest rates before the end of the year". "If she wants to implement this in October, she could announce it in September", said Kathy Bostjancic, head of U.S. macro investor services at Oxford Economics.
The common currency edged lower on Monday and is extending last week's decline, the largest weekly fall since early June, as investors ponder the next move by the European Central Bank.
Under Draghi, the European Central Bank has pumped more than 2 trillion euros ($2.35 trillion) into the global financial system. Still, the index is up 13.5 percent since the election. At the same time, US Treasury Note prices are stuck at 2017 resistance (aligning with UST 10Y Yield support).
"We have certainly noticed the stock market is up considerably over the past year", she said.
The dollar index last stood at 93.101 .dxy , having retreated from a three-week high of 94.145 set last Wednesday.
ENERGY: Benchmark U.S. crude was up 3 cents at $47.56 a barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, fell 2 cents in London to $51.64 a barrel.
Against the dollar, the pound was at its weakest point in almost four weeks, down 0.5% at 1.283.
The Euro has defied gravity even as the fresh news has dried up and the Dollar has somewhat found its feet. "There is some risk that it remains this way for the rest of the week, as financial markets wait for the Jackson Hole Symposium this weekend". However, it remained mostly down against other major currencies.
Dispensing equipment maker Nordson (NDSN) is also likely to come under pressure after reporting better than expected third quarter results but providing disappointing guidance.
Instead, Draghi could repeat a message he gave in June at the ECB forum in Sintra, near Lisbon, when he expressed confidence in the eurozone economic recovery and reminded investors the ECB's exit from QE would be contingent on calm conditions on the financial markets, according to Mark Wall, chief economist at Deutsche Bank.
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Corey Booker , D- New Jersey, announced he plans to introduce legislation to remove Confederate statues from the U.S. The demonstrators had gathered in the college town to protest the removal of a statue of Lee from a public park.
Heavy rain is forecast across the south-west Saturday night and will gradually move up over the rest of the country. There will be a risk of low visibility in coastal and hill areas due to patches of rain, drizzle and fog.
MPs who approved the £29m renovation project claim they weren't informed that Big Ben would be out of action for so long. However, it will still sound on big occasions such as New Year's Day and Remembrance Sunday.
Among other Asian markets, Hong Kong's Hang Seng index was up 0.09 per cent while Japan's Nikkei shed 0.13 per cent. On similar lines, the National Stock Exchange index Nifty dropped by 73.95 points or 0.74 per cent to 9,830.20.
He had a remarkable chemistry with his audience - that's what made him such an incredible professional and why he was so loved. He also said he was "honoured" to have known and worked with Sir Bruce and "to have had my life touched by such greatness".
As per the latest trend, the Congress has won only on six seats while the Shiv Sena candidates were successful in five wards. Shelar also mocked former BJP ally in the municipal corporation, Shiv Sena, without mentioning the name of the party.
A few of the employees had also gathered in front of the Regional Office of Canara Bank in Nazarbad and staged protest. However, private sector banks like ICICI Bank , HDFC Bank , Axis Bank and Kotak Mahindra Bank , remained open today.
Remember, a Tornado Watch is issued when severe thunderstorms and tornadoes are possible in and near the watch area. The National Weather Service has issued a Tornado Watch for northern NY and northwest Vermont until 9 pm.
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Suspects in hair stylist stabbing brought back to Chicago
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Young Girls Found Dead in Maryland Home
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