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Stocks End Quietly Lower; HP Slumps Late On Earnings

24 Agosto 2017, 11:31 | Azura Castelo

Stocks End Quietly Lower; HP Slumps Late On Earnings

US Dollar Tanks Taking EUR  USD Near 2017 Highs Gold Price Jumps

Earlier, the MSCI index of Asia-Pacific shares outside Japan also rose, shaking off jitters that shook markets after President Donald Trump threatened to shut down the USA government and end the North American Free Trade Agreement.

U.S. stocks also looked set to open higher, with Wall Street futures up 0.2 percent.

During another relatively quiet trading day in Asia, the dollar managed to reverse its losses and post a moderate gain against the yen.

In cryptocurrencies, bitcoin rose to a high of $4,246.4 on the Bitfinex exchange.

US Dollar Tanks Taking EUR  USD Near 2017 Highs Gold Price Jumps

Signet Jewelers surged about 20 percent after the company issued its results and said it would buy an online jeweler.

BHP Billiton, the world's largest miner, reported a surge in underlying full-year profits and said it would exit its underperforming USA shale oil and gas business, pleasing shareholders who had called for a sale.

MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.10 percent and the pan-European FTSEurofirst 300 index .FTEU3 lost 0.56 percent.

The ins-and-outs of inflation have come back into focus as central bankers deal with the puzzling absence of price growth amid a global economic recovery.


Traders were digesting the latest departure from Donald Trump's White House team, watching tensions around North Korea and waiting to see what the world's top central bankers would signal at the Jackson Hole gathering later this week.

"On the other hand what has been supporting gold for the last six months or so is the risk aversion", Wing Fung's To said, referring to the uncertainty around the Trump administration in the U.S.in particular.

In the absence of market-moving events in the early parts of the week, Grace says strength in iron ore prices, Australia's largest goods export by dollar value, will likely support the Aussie in the near-term. That makes it harder for the European Central Bank to withdraw stimulus measures put in place after the debt crises of 2010-2012. The ECB's key target is to boost inflation to "just below 2 percent".

"With Yellen and Draghi both due to speak, markets will no doubt be sensitive to any discussion on upcoming policy withdrawal and what it could mean for the global liquidity cycle", said Philip Borkin, senior economist at ANZ Bank New Zealand.


The Australian dollar fell during the day on Tuesday, testing the 0.79 level.

"Inflation has been the big question mark, both here and overseas", said Michelle Meyer, head of USA economics at Bank of America Corp.in NY.

"If we have to close down the government, we are building that wall", Trump told supporters at a rally in Arizona.

Crude inventories fell by 3.3 million barrels in the week ending August 18 to 463.17 million barrels, down 13.5 per cent from record levels last March.




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