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Kansas State 95, Wake Forest 88
A Look at Gold as the Fed's Rate Hike Looms
18 March 2017, 01:28 | Ignacio Smith
A Look at Gold as the Fed's Rate Hike Looms
The dollar was hovering at five-week lows against other major currencies on Friday, as the dovish tone of the Federal Reserve's latest policy statement continued to weigh and as investors eyed the release of USA data due later in the day.
US stocks pushed higher on Wednesday, while Treasury yields fell and the dollar weakened, after the Federal Reserve raised interest rates for the second time in three months but did not flag any plan to accelerate the pace of monetary tightening.
But further rate increases would only be "gradual", the Fed said in its policy statement, with officials sticking to their outlook for two more rate hikes this year and three more in 2018.
On December 14, 2016, the Fed finally raised interest rates by 25 basis points.
"How much further support the euro can garner would depend on how the Dutch vote could now impact the French presidential elections, for example by eroding support for (Marine) Le Pen". That seemed incongruous after a month where the hard numbers have finally begun to point to a weakening of economic growth, as consumers face the effect of a 20 percent fall in the pound, a weaker housing market and uncertainty over jobs and investment as the government gets ready to launch Brexit talks. Further bolstering gold, the dollar index slipped 0.1 percent to 101.620. Canadian manufacturing sales rose for the third straight month in January as nondurable goods sales increased, led by the petroleum and coal industry, data from Statistics Canada showed.
Commodities The oil market is striving to break a six day losing streak that saw Brent crude prices slump 9.1 per cent amid concerns that Saudi Arabia was not adhering to an Opec production cut deal and that increasing output by United States drillers was adding to a glut.
MSCI's all-country world stock index gained 0.7 per cent, and hit an all-time high.
The euro rose to $1.0740 while the dollar fell to 0.9980 franc against the Swiss currency.
U.S. Treasury yields edged lower on Friday after data showing low inflation in March suggested that the Federal Reserve could aim for a slower pace of interest rate hikes this year than it had forecast on Wednesday.
Financial spreadbetters predicted a muted start to European stocks after Thursday's strong gains, with Britain's FTSE and Germany's DAX expected to open 0.1 per cent lower and France's CAC 40 seen starting the day flat.
Prices on benchmark 10-year Treasuries fell 8/32 to yield 2.531 percent, up from 2.504 percent late on Wednesday.
US crude rose 1.9 percent to $48.64 a barrel, after touching a three-month low a day earlier, while benchmark Brent gained 1.5 percent to $51.67 a barrel.
It slid more than 1 percent the previous day to touch 100.490, its lowest since February 17.
NFL Free Agency 2017: Jaguars closing in on AJ Bouye
Now that we know that Bouye is signing with the Jaguars we would love to get your thoughts in the comments section below. The Jacksonville Jaguars might end up having one of the best cornerback tandems in the National Football League.
Somali pirates fire shots on maritime forces
But attacks fell sharply after crews put safety measures into place and regional naval forces stepped up patrols. The gunmen are demanding a ransom to release the ship and its Sri Lankan crew, said the EU Naval Force.
Robbie Power on his Cheltenham Gold Cup triumph
In so doing, he claimed his sixth victor of the week to tie with Mullins but he won the title on countback to placed runners. I'd be expecting a big run and he has place claims but everyone will be playing second fiddle to On The Fringe.
Pique: I would have signed up for Deportivo defeat
The loss comes just days after their heroic comeback against Paris Saint-Germain in the Champions League on Wednesday night. However, the Catalan giants leveled matters a minute after the break through Luis Suarez powerful close range effort.
Gasoline sells for 79 cents in Houston
Consumers could see a 10-cent drop in retail gasoline prices before a sharp rise expected by Memorial Day, according to AAA . The Florida average was $2.274 on Monday, down from $2.288 a month ago and flat with a week ago.
Merkel meeting pushed back to Friday
Merkel was warned 40,000 migrants were travelling through the Balkans and could enter Germany in a single weekend. Both leaders are expected to hold a press conference and a working lunch at the White House.