Markets

US Markets Turn Positive on Fed's Outlook for Rates

US Markets Turn Positive on Fed's Outlook for Rates

Federal Reserve Chair Janet Yellen says she "absolutely" intends to serve out her four-year term as head of the central bank but she hasn't given thought to whether she would accept a second term if President Donald Trump asked her to do so.

Signs of a pickup in USA inflation could reinforce views that the Fed would hike interest rates again sooner rather than later, which would lift Treasury yields and the dollar. The Fed's main gauge for inflation, the personal consumption expenditures price index, rose only 1.4 percent in May from the previous year. The Shanghai Composite slid 0.14 percent and the Shenzhen Composite slid 0.204 percent. The S&P 500 is set to open up by 0.15% at 2,447.

The US economy grew at a "slight to moderate" pace over the last several weeks across all regions of the country, with wage pressures reported for both low- and high-skilled jobs, the Federal Reserve reported yesterday in its latest compendium of regional economic activity.

The euro was flat at $1.1403, unable to draw much lift even as Germany's 10-year bund yield climbed back above the 0.50 percent threshold overnight on a report that the European Central Bank is likely to signal in September that its asset purchase programme will be gradually wound down next year.

Data showed USA producer prices unexpectedly rose in June.

Brent crude futures, the global benchmark for oil, were up 35 cents at $48.77 per barrel.

In currencies, the dollar index, which measures the dollar against a basket of currencies, traded at 95.756 at 8:02 a.m. HK/SIN.

Gp di Silverston, Hamilton ottiene la pole
Il miglior ritmo è stato quello di Hamilton che ha realizzato anche il giro più veloce virtuale in 1:31,7. In gara solitamente siamo più competitivi, dunque mi aspetto di poter lottare con le Frecce d'Argento.

In currency markets, the dollar blipped up and down within the span of a couple of minutes before resuming steady trading just above unchanged.

"A weak U.S. CPI print could push the pair into $0.78 and we start considering the implication of a potential break above the 2016 high of $0.7835", IG Chief Market Strategist Chris Weston said in a note, citing "general ill-will" towards holding the dollar and outperformance of emerging markets as drivers of the Aussie dollar.

Trade Balance numbers from China were positive today.

"Full valuations suggest that the market is yet again going into this reporting season anticipating results to outperform consensus analyst expectations".

The blue-chip index rose 81 points, or 0.4% to 21,634, led higher by gains of Wal-Mart Stores Inc.(WMT) and Microsoft Corp.(MSFT) Losses in J.P. Morgan Chase & Co.

Taiwanese tech shares could be set for moves after chipmaker Taiwan Semiconductor Manufacturing (TSMC) forecast a rise in revenues for the third quarter.

Japan industrial production for May is due later in the session. Tomorrow Retail Sales figures will come from the States.


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