Gold slips on technical selling; Fed stance caps fall

European Shares Seen Little Changed As Dollar Slips

European Shares Seen Little Changed As Dollar Slips

World markets baulked on Monday at the G20's decision to drop a decade-old pledge to resist trade protectionism, with stocks, the dollar, oil and the price of many major sovereign bonds all sliding into the red.

Mumbai: The Indian rupee on Tuesday weakened marginally against the USA dollar, tracking the losses in the Asian currencies markets.

U.S. WTI crude futures lost 0.78 percent, trading down 38 cents to $48.40 per barrel.

Caution prevailed over U.S. and European stock markets after financial leaders of the world's biggest economies made only a token reference to trade on Saturday, acquiescing to an increasingly protectionist United States after a two-day G20 meeting failed to yield a compromise.

Breaking a decade-long tradition of endorsing open trade, G20 finance ministers and central bankers made only a token reference to trade in their communiques on Saturday.

The FTSE 100 hit record highs last week but drifted lower earlier.

At 9.15am, the home currency was trading at 65.42, down 0.08% from its Monday's close of 65.36. As a result, MSCI's global benchmark equity index was little changed.

Merkel reserves right to block Turkish campaign appearances
Turkish politicians have repeatedly slammed Germany for turning a blind eye to terrorist organizations such as the PKK. The spokesperson also said that "Turkophobia is on the rise in Europe". "This is impertinence.

Chicago Federal Reserve President Charles Evans, in one of the first official comments after the Fed raised rates as expected last week, reiterated that message on Monday. The dollar didn't show much reaction, taking its cue instead from the moves in USA yields.

The greenback, down 0.16c to $1.2412 against the pound, fell for a fourth day running against a basket of global currencies, the longest losing streak since early November.

Denting the bullish gold narrative somewhat, holdings of SPDR Gold, the world's largest gold-backed exchange-traded fund, fell 0.35 percent to 834.10 tonnes on Friday.

"I think markets are focussed on comments made by FOMC members to get a better idea of the path forward for policy and how that will translate for the dollar", said Sireen Harajli, FX strategist at Mizuho in NY.

But investors returned to buying in early Asian business, with Hong Kong up 0.2 percent at lunch, building on a three-day rally that has pushed it to levels not seen since the summer of 2015.

The leading candidates clashed in a televised debate on Monday, with centrist Emmanuel Macron accusing far-right leader Marine Le Pen of lying and seeking to divide the French.

Oil prices stayed under pressure, though they hovered above their 3-1/2-month lows touched a week ago, as investors continue to grapple with worries about growing US oil output and high inventories.

Recommended News

  • Theresa May on hand-holding with Trump: He was being a gentleman

    Theresa May on hand-holding with Trump: He was being a gentleman

    British Prime Minister Theresa May is not afraid to confront President Donald Trump. But it doesn't stop me from going out and enjoying fashion.
    Tillerson Meets President Xi Jinping in Beijing

    Tillerson Meets President Xi Jinping in Beijing

    After talks with his counterpart Wang Yi on Saturday, Tillerson warned that regional tensions had reached a "dangerous level". In exchange, it said, it would ask the US and South Korea to halt large-scale military exercises which have been scheduled.

    Galena Biopharma, Inc. (GALE) has 1 year Price Target of $8

    During the last trade, stock's minimum price has been reached out at $0.535 while the maximum trading price moved at $0.587. The company has experienced volume of 1,397,699 shares while on average the company has a capacity of trading 2.42M share.
  • Tesla Intends To Discontinue The Model S 60 kWh And 60D

    Tesla Intends To Discontinue The Model S 60 kWh And 60D

    We won't spoil the news, but we will say it is one of the biggest swings in Tesla's stock price we have seen in a long time. This actually makes sense. 03/17/2017 - Tesla Motors, Inc. had its "sell" rating reiterated by analysts at Goldman Sachs.
    Pakistan government bars five cricketers from leaving the country

    Pakistan government bars five cricketers from leaving the country

    Furthermore, Jamshed was arrested by the National Crime Agency in February and remains in Britain but has been bailed until April. Interior Minister Chaudhry Nisar Ali Khan asked the FIA to carry out a thorough investigation against the five players.
    Brazil meat-packing giants 'exported rotten beef'

    Brazil meat-packing giants 'exported rotten beef'

    Investigators said employees at the food-processing giants JBS and BRF paid federal inspectors to ignore problems with meat. A significant percentage of the meat processed by these companies is exported to many countries including European nations.
  • Watch Video Of Alleged Suspect Stealing Tom Brady's Super Bowl Jersey

    Watch Video Of Alleged Suspect Stealing Tom Brady's Super Bowl Jersey

    And they zeroed in on a person of interest - that person of interest, I'm told, is an global member of the media. House Committee member Rick Crawford (R-AR 1) joked with Comey about the Bureau's role in locating the jersey.
    Watch India Vs Australia 3rd Test Day 5 Live Match on Hotstar

    Watch India Vs Australia 3rd Test Day 5 Live Match on Hotstar

    While Marsh has some credentials of playing in the sub-continent, Handscomb is a novice in these conditions - turn and low bounce. Handscomb faced 200 balls after going to the crease in the first session of the fifth day with Australia in trouble at 63-4.
    RadioShack bankruptcy claims Indianapolis stores

    RadioShack bankruptcy claims Indianapolis stores

    RadioShack filed voluntary petitions under Chapter 11 in the United States Bankruptcy Court for the District of DE on March 8. Following the latest wave of store closings, Radio Shack will have about 800 stores still operating in the United States.
  • Edamame product recalled due to Listeria fears

    Edamame product recalled due to Listeria fears

    In pregnant women, listeriosis can cause miscarriage, stillbirth, premature labor and serious illness or death in newborns. The company has notified all retail locations of the recall, so the product should no longer be available for purchase.
    Freakishly large chicken takes Internet by storm

    Freakishly large chicken takes Internet by storm

    The Twitter user who posted the clip wrote, "Am I the only person wondering why this chicken is so damn big?" He is large. So, by simply dividing 18 by 0.035274, we arrive at 510 Chicken McNuggets and some change in this Thicc Chicken.
    Aratana Therapeutics, Inc. (NASDAQ:PETX)

    Aratana Therapeutics, Inc. (NASDAQ:PETX)

    The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink . Acadian Asset Management LLC bought a new position in Aratana Therapeutics during the third quarter valued at $11,259,000.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.