Swiss Franc Consolidates After Rallying Hard on North Korea Tensions

12 August, 2017, 05:59 | Author: Pamela Mathis
  • Daily December Comex Gold

Gold got an extra boost after data showed U.S. consumer prices rose less than expected in July, pointing to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year. The S&P shed 1.4%, its worst week since March, while the Nasdaq posted a weekly loss of 1.5%, its worst since June.

In other corporate results, a number of companies reported forecast-beating numbers.

Subdued U.S. inflation has stirred doubts about the chances of another Fed interest rate hike this year, which have weighed on the dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan skidded 1.2 percent in its third session of declines, heading for a 2.1 percent drop for the week.

U.S. President Donald Trump ratcheted up his rhetoric toward North Korea on Thursday, saying the reclusive communist country should be "very, very nervous" if it even thinks about attacking the United States or its allies. Should losses extend after markets open, it will mark Wall Street's fourth day in a row and the Dow's retreat from a record-making stretch at the beginning of the week that extended nine days.

Gold has rallied 2.3% this week on the heels of renewed tension with North Korea.

At 11:03 a.m. ET (1503 GMT), the Dow Jones Industrial Average .DJI was down 110.36 points, or 0.5 percent, at 21,938.34, the S&P 500 .SPX was down 19.12 points, or 0.77 percent, at 2,454.90.

Shares of Kohl's were down 8.4%, while Macy's fell 4% after the department store operators reported a fall in sales. The Shanghai Composite Index lost 0.2 percent to 3,275.57 and Hong Kong's Hang Seng was off 0.3 percent at 27,757.09. "This is mainly due to the fact that in the event of a crisis involving the U.S. directly, investors are more likely to seek refuge in an asset like gold which bears no country risk and also benefits when the dollar depreciates", Gambarini writes.

Same manager, same tactics, better players - Guardiola lays out Man City blueprint
The 23-year-old has impressed in preseason - other than an error in the International Champions Cup defeat to Manchester United - and has already showed the ball skills that Guardiola demands from his keepers.


USA stocks fell sharply on Thursday, with the Dow slipping more than 100 points, as lackluster results from retailers Macy's and Kohl's added to investor nervousness over escalating tensions between the United States and North Korea.

The yen on Friday added to a strong weekly rally against the dollar of close to 1.5 per cent, hitting its highest versus the greenback in nearly four months, at 108.73 yen.

Currency traders consolidated positions in the Japanese yen and Swiss franc, and nudged up the dollar index by unwinding some of the recent big bets on the euro.

Earlier, the dollar slipped as low as 108.91 yen, its weakest level since June 14, when the greenback fell as low as 108.81 yen.

The biggest fallers were G4S down 24.7p to 305.9p, Standard Chartered down 20.9p to 783.1p, Prudential down 44p to 1,841.5p, Shire down 92p to 3,945p.

But losses soon resumed, with Tokyo edging down as the Nikkei again came under pressure from the strength of the safe-haven yen, which hit eight-week highs Wednesday against the dollar.

The data comes amid tepid inflation that has remained below the Fed's 2% target, despite low unemployment.

After touching a more than two-month high at US$1,291.86, spot gold last added 0.2 per cent to US$1,288.81 an ounce. It was on course for a weekly rise of about 5%, the biggest such gain since July 2016. Brent crude, used to price worldwide oils, added 26 cents to $52.96.

Recommended:

  • Discovery Communications, Inc. (NASDAQ:DISCK) Traded -11.4% Below Its 50 Day Average

    Discovery Communications, Inc. (NASDAQ:DISCK) Traded -11.4% Below Its 50 Day Average

    Earnest Prtn Limited Liability stated it has 0% in Discovery Communications Inc. (NASDAQ:DISCA)'s stock was -16.09%. Over the last week of the month, it was -7.03%, -12.65% over the last quarter, and -17.74% for the past six months.

    Is Stratasys Ltd. (SSYS) Finding Support or Hitting Resistance?

    A month ago, they told us to expect earnings of US$0.06 per share while three months ago their EPS consensus estimate was US$0.05. Finally, Needham & Company LLC downgraded Stratasys from a "buy" rating to a "hold" rating in a report on Wednesday, May 17th.

    Axalta Coating Systems (AXTA) - Investment Analysts' Weekly Ratings Changes

    Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Axalta Coating Systems by 5.4% in the first quarter. Following the transaction, the senior vice president now directly owns 152,417 shares in the company, valued at $4,787,417.97.
  • Arsene Wenger 'has sympathy' for Chelsea boss Antonio Conte

    Arsene Wenger 'has sympathy' for Chelsea boss Antonio Conte

    The German could well be handed a Premier League debut on Saturday if Conte's training session on Thursday is anything to go by. We have to go and to fight to try to win with these players.
    Dean Foods Company (NYSE:DF) Downgraded by Wells Fargo & Company

    Dean Foods Company (NYSE:DF) Downgraded by Wells Fargo & Company

    In the last earnings report the EPS was $0.61 and is expected to be $0.82 for the current year with 90,915,000 shares outstanding. Zacks Investment Research downgraded ConAgra Foods from a "buy" rating to a "hold" rating in a research note on Monday, May 22nd.
    Antonio Conte: Chelsea are doing their best to sign more players

    Antonio Conte: Chelsea are doing their best to sign more players

    Morata has also laid down a goal target for himself ahead of the new Premier League season, as reported by the Dailymail . If Nathaniel Chalobah or Ruben Loftus-Cheek were still there they could get rid of Matic and play a younger kid.
  • Final Atlantic Tropical Predictions: Expect an Above Average Season

    Final Atlantic Tropical Predictions: Expect an Above Average Season

    The second driving factor for the call of an above average season is the continually evolving ENSO (El Nino ) forecast. Averaging all major tropical season forecasts yields 15 named storms, 7 hurricanes, and 3 major hurricanes.
    Willian reveals talks with Jose Mourinho over Man United transfer

    Willian reveals talks with Jose Mourinho over Man United transfer

    Second season, things fell apart and, when the centre could not hold any longer, he was sacked from his job. Which Mourinho act will the Italian copy? We are trying to improve.
    HBO gets $6m ransom demand to stop Game of Thrones leaks

    HBO gets $6m ransom demand to stop Game of Thrones leaks

    It also contains a plea from HBO to extend the ransom-payment deadline for one week while the transfer was being made. HBO declined to comment to both publications, but Variety says it was able to confirm that the email was real.
  • Are Analysts Bullish Navios Maritime Holdings Inc. (NYSE:NM) After Last Week?

    On August 18 the company was downgraded to "Hold" from " with a current price target of $1.50 by Evercore ISI Group. The Firm is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain.
    Local substance abuse counselors hope for federal funding after Trump declaration

    Local substance abuse counselors hope for federal funding after Trump declaration

    How do we treat it? Doctors in the USA prescribe more opioids than in any other country, enough to medicate every American adult. More money also is needed for prevention, such as efforts offered by the Impact Coalition in Ohio County, he said.
    Jaguars release OT Albert

    Jaguars release OT Albert

    On July 30th a video surfaced on the internet of Albert being beaten badly in pass rushing drills by DE Dante Fowler Jr. August 4 - Albert approached the team about the opportunity to return to the National Football League at a later date.


Popular

Is this Hollywood power couple calling off their divorce?
She recently said: "It's just been the hardest time, and we're just kind of coming up for air". Smith in 2004 and married in an intimate ceremony on August 23, 2014 in Correns, France.

Clapper Compares Trump, Kim Jong Un Rhetoric to WWI
If somebody else uttered the exact same words that I uttered, they'd say, "What a great statement, what a wonderful statement". Secretary of State Rex Tillerson has also sought to promote dialogue and diplomacy over military action.

The Dow Chemical Company (DOW) — Investors Focused Stock
Murphy Capital Incorporated holds 0.1% or 8,650 shares in its portfolio. 5,850 were reported by Wellington Shields Co Limited Com. Newman Dignan & Sheerar Inc. boosted its position in shares of Dow Chemical Company (The) by 0.9% in the first quarter.

Slater: Manchester duo poised to challenge Chelsea for title
Romelu Lukaku looks to be the physical presence with a goal-scoring pedigree needed to replace Zlatan Ibrahimovic in attack. Craig Burley feels Pep Guardiola's back may be against the wall if he does not win any trophies with Man City this season.

Trump Faces Crisis on North Korea Amid Sliding Polls
Lastly, we believe that North Korea's calculations is basically to preserve a regime. "The pressure campaign, we see that working".

Blue Apron Holdings (NASDAQ:APRN) Stock Recommendation Reaffirmed by Stifel Nicolaus
Alliancebernstein L.P. purchased a new stake in shares of Blue Apron Holdings during the second quarter worth about $4,670,000. Finally, Oak Ridge Investments LLC acquired a new position in Blue Apron Holdings during the second quarter worth $934,000.

Trump finances fair game in Russian Federation investigation
However, nearly every major news outlet in the US reported about the UNSC's unanimously passed resolution imposing new sanctions on North Korea .

Odisha swine flu toll rises to six
Dr Solanki also informed that they have enough supply of tamiflu tablets. Cover your nose and face if you can't avoid going out.

Roger Federer cruises to victory in first match since Wimbledon win
After dropping the opening set to Nadal , who, with Andy Murray's withdrawal from the W&S Open next week could soon become world. Cheering from the stands were hockey great Wayne Gretzky and Olympic swimming victor Penny Oleksiak along with astonished fans.

Fifth Harmony Shares 'Angel' From Upcoming New Album
Fifth Harmony is available to pre-save on Spotify and pre-order on iTunes now . "There's nothing we can't get through together". The girls group will release their first self-titled album since the departure of Camila Cabello in December 2016.