Gold buoyed by North Korea tensions, United States inflation data
14 August, 2017, 07:19 | Author: Leticia Walters
South Korea's KOSPI fell 1.8 per cent to a 9 1/2-week low, taking its losses this week to almost 2.7 per cent.
Gold added to early gains, and the dollar pulled back, following the release of US data showing a cooler reading for inflation at the wholesale level.
The pan-European FTSEurofirst 300 index lost 1.11 percent.
Australian shares were down 1.5 percent, set for a weekly loss of 0.8 percent.
In an unusually quiet day of currency trading, it was the smaller emerging market currencies that stole numerous headlines.
In terms of forex market movements, the United States currency lost significant ground relative to majors including the yen, sterling and the euro - most notably the latter one - as the news on inflation went public.
"Both (PPI measures) were well below consensus and give us no hope that consumer price inflation is going to materially beat expectations", said Chris Weston, chief market strategist at IG Markets.
While North Korea regularly threatens to destroy the United States and its allies, the report was unusual in its detail.
"Gold and silver are higher, thanks mainly to their status as safe-haven commodities".
While the conflict between the two countries remains a war of words markets are wary that the threat could escalate, in no small part to the unpredictability of the respective leaders, Trump and Kim Jong Un.
United States stock futures were 0.1 per cent lower on Friday.
"The war of words between the leaders of the USA and North Korea continues to dominate investor sentiment", said Forex.com technical analyst Fawad Razaqzada. That prompted North Korea to say it was considering firing missiles at Guam, a USA -held Pacific island.
"U.S. markets had previously been becalmed amidst the Goldilocks scenario of strong profit growth, low interest rates and full valuations". "It's hard to tell whether this could trigger a stronger bout of risk aversion".
The Japanese yen hit an eight-week high against the US dollar, and USA -traded Nikkei stock futures dropped 2 percent to their lowest since mid May. Most Japanese companies expect the pair to trade between 108-110 yen this fiscal year.
European equity markets continued to lose ground on Thursday which provided further net support to gold, especially with bond yields tending to drift lower.
U.S. Treasury yields US10YT=RR fell to as low as 2.197 percent, their lowest level since June 28, overnight.
The dollar eased slightly against a basket of major currencies .DXY to 93.356.
Gold prices traded at their highest level in more than two months Thursday, adding to the previous session's sharpest daily rise since the middle of May, as simmering North Korean tensions underpinned haven investments. In commodities, crude oil lost momentum after rising overnight on data pointing to declining US inventories. They plunged 2 percent on Thursday on fears of slowing demand and lingering concerns over a global oversupply.
Narev will be paid A$5.71 million for the year ending June 2017, down 35 percent from last year's A$8.77 million. The head of Australia's Commonwealth Bank will step down by the middle of next year, the firm said.
The Dow Jones industrial average slid 204.69 points, or 0.9 percent, to 21,844.01, just shy of its low point for the day. After a dip of as much as 0.52 percent earlier in the day, Wall Street's three major indexes bounced off intraday lows.
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Whereas we thought that Dany and Cersei were queens fighting for the throne with no heirs to leave it to, the game just changed. Bron and Jaime are alive! Now, look, I'm no Napoleon, but Tyrion saw his brother get tackled into the water.
She was later identified as Dutch-born Cindy Kimberly, 17, and she signed with a modeling agency a couple of months later. It said, " Who is that girl , ' then a heart emoji, then '?" She is working as a trainer there as well.
Christopher Nolan's Dunkirk continued to have a strong showing, taking second place in its fourth week in theaters. The animated adventure tells the story of a group of animals trying to save their home from the bulldozer.
Her crew celebrated at a Kendrick Lamar concert Thursday, and with a screening of Halle Berry's new thriller "Kidnap". Tyga was accused of cheating several times , and his financial woes were well-documented .
He has won the last three Cup races at MIS, the first driver to do that since Bill Elliott, who won four straight from 1985-86. Keselowski led nearly the entire way through the 60-lap first stage, only giving up the top spot briefly during a pit cycle.
It's all the more impressive given the two separate periods he sat on the sidelines for recovering from ankle ligament injuries. This weekend there will be no Kieran Trippier - injured against Juventus in pre-season - and Victor Wanyama is also struggling.
The source shared with TMZ that Grace was the pop star's manager during the alleged encounter and that the two were inseparable. The employee said she asked Usher for a picture and he promised to return and pose with her, but never did.
States and cities ravaged the most by the epidemic can use federal disaster relief funds or request other types of emergency aid. Despite Christie's bullying and bluster on most issues, his willingness to tackle opioid addiction seems heartfelt and real.
Stocks Claw Back Gains but North Korea Keeps Pressure on
As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped by 2.3 basis points to 2.189%. The remarks, following North Korea's earlier revelation of a plan to launch a salvo of ballistic missiles toward the U.S.
TSX falls as North Korea tensions spur flight to safety
President insists on ramping up the war of words, there is a decreasing chance of any diplomatic solution", Carnell said. The Korean won also continued to skid, sliding 0.4 percent to 1,146.2, below its 200-day moving average. "While the U.S.