Euro US Dollar Exchange Rate Bounces Back After US Steel Tariff Threat

Euro US Dollar Exchange Rate Bounces Back After US Steel Tariff Threat

Gold prices have fallen about one per cent and hit two-month lows during the session, pressured as the dollar shot to a six-week high and investors braced for expected United States interest rate hikes after Federal Reserve Chairman Jerome Powell testified before Congress this week. In February, Bank of England Deputy Governor Ben Broadbent said interest rates could be raised sooner than previously expected and at a quicker pace.

"So the market is keying off this idea of thinking maybe it won't be three rate hikes, but maybe four", Ware said, referring to the Fed's forecast for 2018.

Powell was making his public debut as Fed chairman after succeeding Janet Yellen on February 5, with appearances before the House on Tuesday and the Senate on Thursday to deliver the central bank's semi-annual monetary policy report.

Gold prices rose slightly on Friday as the American dollar eased on fears of an imminent trade war, this, following President Donald Trump's decision to impose steep tariffs on imported steel and aluminium.

At 10:46 a.m. ET, the Dow Jones Industrial Average.DJI was up 83.87 points, or 0.34 percent, at 25,113.07, the S&P 500.SPX was up 9.47 points, or 0.35 percent, at 2,723.3 and theNasdaq Composite.IXIC was up 15.39 points, or 0.21 percent, at 7,288.40.

Powell sounded the same upbeat themes about the economy's growth prospects in both appearances.

Traders will watch closely to see whether the new chief will continue on the gradual monetary rate path pursued by his precedessor Janet Yellen, or whether he will take a more hawkish approach. "There is no evidence that the economy is now overheating".

Nearly every S&P sector posted gains, with telecommunications (+1.6pc) and technology (+1.5pc) being the best performers so far.

Reps enraged as ministers 'boycott' debate on Ajaokuta steel
An ad-hoc committee was constituted to probe the steel company and the allegation that the ministry plans to concession it. He described Fayemi and Bwari as "ministers who are too busy to attend to events that are for the welfare of the people".

"I will be honest". We should now get an update on how bullish underlying support is by seeing how far prices dip and how long it is before they rebound.

He added, "So, I think each of us is going to be taking the developments since the December meeting into account and writing down our new rate paths as we go into the March meeting".

Powell said he hoped to see faster wage growth soon.

Palladium fell 0.5% to $984.30 US after recording its biggest one-day percentage fall of 5.1%since January 25, 2017, in the previous session.

Powell told the panel that while the unemployment rate had fallen to a 17-year low, by other measures there are still plenty of people to hire.

Even so, this is unlikely to be enough to alter the current policy outlook of the European Central Bank (ECB), which looks set to maintain a generally dovish tone for some time to come. Powell said in that his expectations for domestic economic growth have increased since the beginning of the year, citing the passage of the $1.5 trillion tax cut and stronger global growth.

"If you're talking about the concept of overheating, Powell is suggesting the Fed will err on the side of caution", said Chris Scicluna, head of economic research at Daiwa Capital Markets.

Related News:

  • Global Cholera Vaccine Market 2018 - EuBiologics, Sanofi, PaxVax and Valneva

    Global Cholera Vaccine Market 2018 - EuBiologics, Sanofi, PaxVax and Valneva

    Additionally, type wise and application wise consumption tables and figures of BCG Vaccine market are also given. The report also includes a detailed analysis of Dengue Vaccines key market segments and sub-segments.
    Karti Chidambaram in 5-day CBI custody

    Karti Chidambaram in 5-day CBI custody

    Even Kumbhakaran slept for six months. "The look out circular issued against Karti Chidambaram was premature and issued in haste. Referring to the purported statement of Indrani Mukherjea, Singhvi accused Mehta of making selective leaks to the media.
    United States  accuses Russian Federation  of breaching treaties with 'invincible' weapons

    United States accuses Russian Federation of breaching treaties with 'invincible' weapons

    Putin said the Avangard has an intercontinental range and can fly in the atmosphere at a speed 20 times the speed of sound. US State Department spokeswoman Heather Nauert said department officials watched Putin's speech with interest.
  • Tuesday early voting results are third-highest

    Tuesday early voting results are third-highest

    Beverly Boswell will be challenged by Currituck County Board of Commissioners Chairman Bobby Hanig on the Republican side. The victor faces Democrat Joanne Neel Hesley, a retired teacher who was recently denied a chance to substitute with SCS.
    Jobless claims in U.S.  drop to lowest level in almost  five decades

    Jobless claims in U.S. drop to lowest level in almost five decades

    The latest data from the USA regarding jobs and income exceeded expectations, boosting the markets after a weak start this week. With another extraordinarily low reading this week, the four-week moving average dropped by almost 5K down to 220.5K.
    Your nose appears 30% bigger in a selfie, study reveals

    Your nose appears 30% bigger in a selfie, study reveals

    Apparently, some people are so upset with how huge their beaks look that they actually seek out plastic surgeons for a nose job. Billions of selfies are taken every day without people realizing the distorting effects of the camera's close proximity.
  • Why Is It Always Rockmelon Causing Dangerous Outbreaks?

    Why Is It Always Rockmelon Causing Dangerous Outbreaks?

    All states and territories are continuing to work together to investigate this national outbreak. Two of the six who became ill in NSW subsequently died, a NSW Health spokeswoman confirmed.
    FBI Counterintelligence Officials Probing Ivanka Trump Business Deal

    FBI Counterintelligence Officials Probing Ivanka Trump Business Deal

    The Vancouver tower cost $360million to development and includes 147 guest rooms and 217 luxury residences. The 616-foot Vancouver complex opened in February 2017, just after President Trump took office.
    Should non-smokers get more vacation days?

    Should non-smokers get more vacation days?

    Besides, the study revealed that the corporations lose productivity in a value of $156 billion due to diseases related to smoking. Methodology: HaloCigs surveyed 1,005 Americans from Amazon's Mechanical Turk about the fairness of smoke breaks in the workplace.
  • Michael Keane will rediscover England form, insists Sam Allardyce

    Michael Keane will rediscover England form, insists Sam Allardyce

    Everton were in dire need of goals of their own at the time, giving Sam Allardyce an excuse to splash the cash. Sam Allardyce says he is "surprised" about the speculation surrounding a possible summer exit from Everton .
    Severe weather threat over as storms move east

    Severe weather threat over as storms move east

    South winds will be between 30 and 45 miles per hour , becoming southwest winds between 20 and 30 miles per hour in the afternoon. Areas to the north of Charlotte are not quite as a concern because the instability will not make it that far north.
    Golden State Warriors take kids to African American museum

    Golden State Warriors take kids to African American museum

    It's part of the reason why Steve Kerr let his players coach the team in a game against the Suns just prior to the All-Star break. The choice was made to visit the museum, and the team invited students from Durant's hometown of Seat Pleasant.


Most liked

John Kelly renews defense in wake of Rob Porter abuse scandal
The White House official denied the accusation that Kelly prevented Scaramucci from receiving an invitation to the Davos event. He described what he first became aware of as "just the accusation of a messy divorce and maybe. emotional abuse".

How to watch, listen to Penn State basketball at Big Ten tournament
Finally, it's unlikely anyone makes a 2017 Michigan-esque run through the tournament, but there are two intriguing deep sleepers. The Cornhuskers went 13-5 in Big Ten play but remain firmly on the bubble because their best win is at home against MI .

The iPhone may get even bigger next year, according to new rumors
This contradicts previous rumors that the iPhone X Plus would have a sharper display than the one on the current iPhone X. Instead, it will possibly have the same design as the original iPhone SE that became available in March 2016.

Pete Carroll breaks down Russell Wilson at the plate for Yankees
The Rockies kept his baseball rights, which were acquired by the Texas Rangers past year and now the New York Yankees this season. He was drafted in 2010 by the Colorado Rockies but chose to focus on football instead.

Winter Storm Warnings and Watches Issued for Parts of the Hudson Valley
There's a danger of falling trees, power lines and flying debris, including construction debris, in major cities and suburbs. Then, meteorologists say it will transfer its energy to a coastal storm that will form east of Delmarva and New Jersey .

Meghalaya assembly election results 2018: Congress' hattrick or BJP's debut?
Axis MyIndia did not predict absolute numbers saying " Nagaland was a very hard state to conduct exit poll survey". While Meghalaya and Tripura have two constituencies each, Nagaland has one parliamentary constituency.

Alexa may be able to translate languages in real
In 2017, Google boasted that the Pixel Buds ($159 ) were able to perform accurate real-time translation on the go, but the feature was not well received.

Lookout for Price Target? Match Group, Inc. (MTCH), Barnes & Noble, Inc. (BKS)
The stock witnessed -5.14% declines, 14.34% gains and 15.61% gains for the 1-month, 3-month and 6-month period, respectively. Furthermore, it has price to sale ratio of 0.08 that signifies the value placed on each dollar of a firm's sales or incomes.

Minister drops Leveson inquiry to protect quality journalism
Labour Party culture spokesman Tom Watson called the decision "a bitter blow to the victims of press intrusion". But successive Conservative-led governments delayed acting on the promise.

Ranking the Steelers' positions before the NFL Combine
Chubb is the best in this class and value meets need , so the Colts rush the card to commissioner Roger Goodell's podium. And if the Jets don't sign Cousins? Mayock said in the team interviews, Barkley will "blow away" coaches and executives.

Page has record 38, Penn St women roll in Big Ten opener
Northwestern is smart with the ball, ranking in the top half of the conference in turnovers with only 11.8 turnovers per game. Despite losing 12 games in the Big Ten, Northwestern was able to upset MI at home earlier this season.

Penn State's Saquon Barkley a Jets fan who could be a Giant
In the last three drafts, five backs have gone in the first round, including four in the top 10 and two in the top five. In 2016: The Tennessee Titans sent the first overall pick to the Los Angeles Rams, who coveted quarterback Jared Goff.

The New 2018/2019 Canadian Federal Budget
Any money collected from the federal price on carbon pollution will go back to the province or territory where it was collected. Oddly and incongruously, one policy area of crucial importance to women was nearly entirely absent from the budget: child care.

Heron Therapeutics (HRTX) Given a $31.00 Price Target at Cantor Fitzgerald
Bowling Portfolio Mngmt Limited Liability Corporation holds 1% of its portfolio in The Boeing Company (NYSE:BA) for 26,143 shares. Marshall Wace Llp increased Carlisle Cos Inc (NYSE:CSL) stake by 5,819 shares to 18,051 valued at $1.81 million in 2017Q3.

'Avengers: Infinity War' Release Date Moved Up One Week
Infinity War marks the beginning of a two-part movie event that will conclude with Avengers 4 in 2019 . We obviously don't know how he loses it, but it looks like he might be getting a bionic upgrade.