Mar 03 2018
US oil prices fell 2.3 percent and gasoline futures tumbled after the USA government said crude inventories rose more than expected while gasoline stocks posted a big build instead of the draw that was forecast.
Federal Reserve Chairman Jerome Powell said on Thursday the US economy does not appear to be overheating, though the head of the New York Fed suggested a faster pace of interest rate increases may still be in the offing for 2018.
S. interest rate increases this year rather than three.
Referring to the wild swings in the stock market that occurred earlier this month, Powell said the Fed does "not see these developments as weighing heavily on the outlook for economic activity, the labor market and inflation". We've seen some data that in my case will add some confidence to my view that inflation is moving up to target. We need to see a recovery back above 1.2320 to stabilise and a return to the recent highs near 1.2500.
Couple that set of optics with early returns on economic policy and Wall Street likes what it sees from Powell.
But he emphasized this does not mean the forecast will be upgraded.
"I am committed to clearly explaining what we are doing and why we are doing it", Powell said.
The rupee closed at Rs 65.18 to the dollar, about 0.44% from its previous day's close of Rs 64.80.
Pending Home Sales were a disappointing -4.7%. Traders were looking for a 0.4% increase. When bonds are paying more in interest, they can lure income investors away from dividend-paying stocks.
The dollar hit a three-week high versus a currency index, with investors still bullish after Powell noted rising U.
The stock market reacted badly to the possibility that the rate might rise 1 percent this year instead of 0.75 percent because even slightly higher borrowing costs can make a company less profitable.
Taking out $1309.00 will reaffirm the downtrend.
Focusing on the technical picture, the dollar bounced back to life against a basket of major currencies on Tuesday, with prices venturing towards the 90.40 region. Until it does, the bank is barred from increasing its assets - an unprecedented restriction for one of the largest USA financial institutions.
When a Fed chief testifies before Congress, he or she is generally understood to be speaking for the rate-setting Federal Open Market Committee. Overall consumer prices, as measured by the price index for personal consumption expenditures (PCE), increased 1.7% in the 12 months ending in December, about the same as in 2016.
The text also omitted any reference to an extended transition period, which the United Kingdom has asked for as the European Union turns the screw on the United Kingdom government to lay out exactly what sort of plans they have in mind with respect to the future trade relationship.
In addition to Powell's hawkishness that took the market by surprise, Chinese purchasing managers' index (PMI) data disappointed the market too with manufacturing PMI falling to 50.3, from 51.3, and non-manufacturing PMI dropping to 54.4, from 55.3.
Look for volatility today with the release of the Core PCE Price Index at 1330 GMT.
Sun Hung Kai Properties rose 0.7% after the Hong Kong property developer reported a 60% jump in net profit attributable to shareholders for six months ended 31 Dec. Hong Kong Exchanges & Clearing declined 2% despite the bourse operator reporting a 28.3% rise in net profit for year ended Dec. 31, in-line with estimates.
Mar 03 2018
MI overcomes shooting woes to beat Iowa
Te'Jon Lucas hit 5 of 9 but his miss with 43 seconds to play all but sealed the loss as IL (14-18) trailed 90-84 at the time . MI first-year coach Mel Pearson feels the turnaround started when he named sophomore Hayden Lavigne as the No. 1 goaltender.
Mar 02 2018
'No accountability' for Arsenal players under Arsene Wenger, says Ian Wright
There is a growing fear the club will continue to fall behind while the Frenchman is at the helm, ' Mokbel writes. They are basically Everton from last season. "The owner has to take a lot of blame for this", he said .
Mar 02 2018
South Korean Olympic Short Track Leaders Relieved After The Competition Ends
Great Britain's best Winter Olympics previously was the four medals won at Chamonix in 1924 and at Sochi in 2014. Kovalchuk said the Russian players had planned to sing the anthem on the medal stand if they won the gold medal.
Feb 25 2018
Black Panther: Powerful and Captivating
This obstacle affects people all around the world and it is unfortunate that innocent lives have been taken due to oppression. The movie displayed an option of fighting back against the oppressors or educating and empowering the oppressed.
Feb 25 2018
Man United have favourable path to Champions League quarterfinals
United and Chelsea are set to lock horns in Premier League battle with just three points separating them in the table. Blues boss Conte has clashed numerous times with United manager Mourinho since arriving at Stamford Bridge in 2016.
Feb 24 2018
QB becoming popular selection for Dolphins in National Football League mock drafts
Nelson is expected to return, but the undersized speedster has been affected by dropped passes throughout his three-year career. Since they could free up $3 million by cutting Howard, getting a starting offensive tackle in the draft would be a wise move.
Feb 24 2018
Greensboro Church Began As A Result Of Billy Graham Crusade In 1951
Pastor Thad Gifford is the founding and lead pastor of the Crossroads Community Church, 2343 U.S. He has been reunited with his wife and other family members and he has seen Jesus face to face.
Feb 24 2018
End for rough flu season in sight?
No children have died of influenza in Peel Region during this flu season, which spans from September 2017 to February 2018. Of this season's 200 total deaths since October 1, more than 140 have occurred among people 65 or older, the data showed.
Feb 24 2018
Canadian Jocelyne Larocque explains why she took off silver medal
But rather than quit, Shuster lost 35 pounds and formed his own team a team that became known in curling circles as The Rejects. The Czechs now have barely 26 hours to refocus on trying to take home their first bronze medal since 2006 at Turin.
Feb 24 2018
Woodbury Police: Juveniles Involved in Social Media Threats Located
Threats of violence on campus are getting even more attention than usual in the wake of the recent school shooting in Florida. Bremerton High School was closed Friday as a "precaution" as investigators looked into an online threat.
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