Saturday, 18 November, 2017

Gold Gains On Yellen Speech

Gold Gains On Yellen Speech Gold Gains On Yellen Speech
Kayla Schwartz | 14 July, 2017, 19:11

Despite low inflation and a lot of uncertainties in the economic outlook, Federal Reserve Chair Janet Yellen on Wednesday said she sees the need for the central bank to keep making gradual interest rate increases in the next few years. The data pushed Asian shares up more than 1 percent and lifted MSCI's 47-country gauge of global equity markets to a fresh record high with a gain of 0.25 percent.

Overall consumer prices, as measured by the price index, increased 1.4 percent over 12 months through May, up from about 1 percent a year ago but a little lower than earlier this year.

Inflation in the USA has softened in recent months, which triggers discussions about the pace and timing of the future rate hikes among Fed officials.

The Fed Chair believes that the current level of interest rates is not far from a neutral policy stance and hence rates would not have to rise "all that much".

"Inflation" is a code word for "the economy".

The Australian share market closed lower yesterday: The S&P/ASX 200 Index closed 55 points down to finish at 5,674.

In what may be one of her last appearances before Congress, Ms. Yellen depicted an economy that, while growing slowly, continued to add jobs, benefited from steady household consumption and a recent jump in business investment, and was now being supported by stronger economic conditions overseas.

Mário Rui passa dalla Roma al Napoli
Il difensore portoghese ha firmato in quinquennale da circa 1.5 milioni l'ano e il Napoli ha pagato nove milioni alla Roma . Sono in corso le visite mediche, dopodiché il calciatore partirà direttamente per Dimaro .

Stating to the Congressional committee, she said that the Federal Reserve plans to cut its huge $4.5 trillion portfolio this year. Economists had expected prices to remain unchanged. The euro led gains on expectations the European Central Bank could send hawkish signals at its meeting next week while the pound also rose after the Bank of England's Ian McCafferty suggestedin an interview with The Times he favored faster unwinding of quantitative easing.

Delta Air Lines Inc DAL.N , United Continental Holdings Inc UAL.N , Alaska Air Group Inc ALK.N , Spirit Airlines Inc SAVE.O and JetBlue Airways Corp JBLU.O stocks also gained at least 1 percent each.

The trade-weighted index rose to 77.72 from 77.56.

US crude rose 1.02 percent to $45.50 per barrel and Brent was last at $47.80, up 0.59 percent on the day.

Benchmarks finished higher on Wednesday, with the Dow posting its first record close since June 19 as Fed Chairwoman Janet Yellen concluded her testimony on Capitol Hill.

New Zealand's two-year swap rate fell 4 basis point to 2.25 percent, and 10-year swaps fell 4 basis points to 3.32 percent.

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