Gold heads for second weekly decline as investors weigh Federal Reserve™s signal for four interest rate increases by end-2018 and plans to reduce bank™s balance sheet against tensions over North Korea.
Bullion for immediate delivery added 0.2% at $1,293.95/oz at 8:56am in Singapore: Bloomberg generic pricing. This metal fell to $1,288.20/oz on Thursday, lowest since Aug. 25.
Gold lost 2% this week after dropping same amount last week. Bloomberg Dollar Spot Index rose 0.6% this...
The British pound weakened against the U.S. dollar and the euro on Friday, as Prime Minister Theresa May revealed details on Britain's ambitious for Brexit in a speech in Florence. Against the dollar, the pound slipped to $1.3495, a new intraday low, while the euro jumped to a two-day high at £0.8874.
More comments coming out of the ECB President Mario Draghi's scheduled speech at the ECB Youth Dialogue at Trinity College, in Dublin:
Key quotes (via LiveSquawk):
¢ We aren™t there yet on inflation
¢ We haven™t seen much financial stability risks
¢ Financial system much more resilient thanks to reforms
¢ Local imbalances shouldn™t be addressed by monetary policy
Meanwhile, the EUR/USD pair quickly retreated around 15-20 pips from session tops...
U.S. stock futures pointed to opening losses for Wall Street on Friday, as geopolitical tensions returned to the fore after North Korea threatened to test a hydrogen bomb over the Pacific Ocean.
Traders were also looking ahead to a trio of Federal Reserve speakers, searching for more details on monetary policy after the central bank™s meeting earlier this week.
Futures for the Dow Jones Industrial Average lost 27 points, or 0.1%, to 22,306, while those for the S&P 500 index gave up...
U.S. stocks edged lower on Friday, as geopolitical tensions returned to the forefront after North Korea threatened to test a hydrogen bomb over the Pacific Ocean, although the selling was limited as the market™s general uptrend was seen as intact.
The Dow Jones Industrial Average dipped 10 points to 22,354, a drop of less than 0.1%. The S&P 500 is down less than a point to 2,499. The Nasdaq Composite Index slipped 3 points, or less than 0.1%, to 6,419.