Agosto 13, 2020

Gold prices little changed with Jackson Hole in focus

25 Agosto 2017, 10:39 | Azura Castelo

Traders work in front of the German share price index DAX board at the stock exchange in Frankfurt

Traders work in front of the German share price index DAX board at the stock exchange in Frankfurt

This article was posted on Friday, 09:52, UTC. While many inches will be written in the world wide media and expectations boosted for any tangible positive outcome I doubt it will end, as they all have in past years, with no outcome bar a very large expenses bill.

After closing lower for two consecutive sessions, stocks may regain some ground in early trading on Friday.

// - Discuss and ask questions in our community on Workplace. In outcome, gold prices declined.

At Jackson Hole on Friday, most investors don't anticipate any major statements on increasing interest rates from Yellen or Draghi. The antipodean currencies gained as well with the kiwi up at $0.7242 and the aussie recording a 0.51% gain to last trade at $0.7938.

The Australian and New Zealand dollars were both steady at $0.7899 and $0.7206, respectively.

Markets now seem to have priced Trump's reactionary comments. With the President preoccupied with party infighting, Russian Federation investigation, and "employee turnover" at the White House, traders are starting to realize that the initial prospects were too optimistic.

While credit may be less available to some borrowers, Yellen quickly pointed out that mortgage borrowing was too easy for some households in the run-up to the financial crisis.

The Fed chairwoman spoke at the central bank's annual monetary policy conference in Jackson Hole, Wyo., on the effectiveness of regulatory policy and reforms that followed the 2007-09 financial crisis. Draghi's address will be particularly closely watched as the European Central Bank is due to discuss the future of its monetary policy at its September meeting amid persistently low inflation and a strengthening currency.

Post-crisis reforms "resulted in a return of lending growth and profitability among USA banks", she said. Japan's Nikkei 225 slipped 0.4 percent to 19,353.77 but South Korea's Kospi rose 0.4 percent to 2,375.84.

Hong Kong jumped 1.2 percent, marking a fourth-straight day of gains, while Shanghai rallied 1.8 percent.

The broader Topix gained 0.4 percent to 1,597.78. This suggests the labor market continues to be tight-although there are certainly dissenting voices who believe that there continues to be slack. Australia's S&P/ASX 200 was little changed at 5,743.90. The dollar was up 0.1 per cent on the day at 109.69 yen.

Aviva Plc's shares edged up 0.5 percent.

Among other precious metals, silver slipped 0.2% to $16.94 an ounce, while platinum was almost unchanged at $974.85.

The primary contributor to said growth was strong expansion in government investment and spending, whilst household consumption demonstrated a much softer pace of growth and business investment as a whole stalled to 0% in the wake of continued Brexit uncertainty.

In more company news, Super Retail Group announced a full-year net profit of $101.8 million, helped by a solid performance across all three major divisions (Auto, Leisure, Sports).

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