Economy

Yields rise on risk appetite; Fed chair’s remarks awaited

Yields rise on risk appetite; Fed chair’s remarks awaited

The president spooked investors in July when he criticized the US central bank over tightening monetary policy. Determining the "ideal" or most "effective" rate of inflation is therefore a fine art, and one of the most complex and crucial functions of the Fed. But most economists think Powell will refrain from signaling any change in the Fed's plans for interest rates.

Market is also looking for update on Sino-U.S trade-related talks as trade war fear is on rise post trump's statement blaming Europe & China of currency manipulation and commenting that the talk between US & China would not be fruitful while also mentioning 25% tariff on Europe yesterday night all of which is greatly pressuring US Greenback in broad market ahead of US FOMC update.

The dollar index, which measures the greenback against a basket of six major currencies, was weaker, after earlier falling to 94.93, its lowest since August 2.

Trump seems to be at the centre of everything right now, with other stories of interest to traders being the start of negotiations between the United States and China on trade following the recent imposition of tariffs and threats of many more. We're going to win.

Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo, said the euro "was already regrouping from its recent rout and Trump's comments gave extra incentive for short positions to be covered in the market".

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And look, if you want to not hear about Trump at all, go see Kevin Hart . "So, that was the beginning of my journey as a singer . Most of the tribute to Franklin, however, was spent explaining the early origins of Madonna's career.

The central bank has raised interest rates twice during Powell's tenure, and is it expected to raise rates twice more this year, including when it next meets, in September.

At the same time, he accused China and the European Union of currency manipulation. Also on Tuesday, Trump's former campaign chairman Paul Manafort was convicted on eight charges.

The Reserve Bank held its benchmark rate for a fifth meeting in a row in July but warned it was ready to tighten policy despite the weak economy in response to rising rand-driven inflationary pressures and offshore volatility. The metal began gaining ground when the dollar retreated after hitting a 13-month high last week.

"There will be a lot of talk on the sidelines of the conference about trade and other threats, but at the moment the US economy is going great and the Fed will keep raising rates", said Diane Swonk, chief economist at Grant Thornton in Chicago.

U.S. Treasury yields rose on Tuesday on improving risk appetite, though investors were keenly awaiting a speech by Federal Reserve Chairman Jerome Powell at the end of the week. Trump is fixated on reducing the USA trade deficit and a higher Dollar supported by higher interest rates continues to pose a significant risk to export led growth.

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Although Twitch is dropping the ad-free perk, it's promising new "premium benefits" to the Prime program in the near future . Twitch has also stated that there will also be ad-free options for specific channels who choose to turn the option on.

A Fed spokesman declined to comment on Trump's remarks on Monday.

"The Fed is going to guard its independence very, very carefully", Hurley said. "We do our work in a strictly nonpolitical way, based on detailed analysis, which we put on the record transparently".

Financial market analysts doubt current Fed policy makers are likely to be cowed by Trump's outbursts over their policy choices.

"The Fed could be forced to act if incoming economic data showed the USA economy was hurting", said Sung Won Sohn, chief economist at SS Economics, an economic consulting firm.

When asked if he believed in the Fed's independence, he refused to say yes, telling the reporter: "I believe in the Fed doing what's good for the country".

Malcolm Turnbull: Australian PM survives leadership challenge
The longer Turnbull remains prime minister, the worse the government's opinion polling was likely to become, Economou said. Asked about leadership speculation, Mr Turnbull said: "I enjoy the confidence of the cabinet and of my party room".

Powell is to speak on Friday at the Kansas City Feds annual economic symposium in Jackson Hole, Wyoming.


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