Gold prices climb following release of Fed minutes

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The US dollar was down to 0.9348 Swiss franc from 0.9359 Swiss franc, and it rose to 1.2689 Canadian dollars from 1.2642 Canadian dollars.

In total, there will be $258 billion worth of debt auctioned by the US Treasury this week.

CURRENCIES: The dollar weakened to 107.32 yen from 107.77 yen in late trading Wednesday. The minutes of the January meeting didn't indicate plans for additional moves, and analysts who read the minutes suggested the Fed would stay the course.

The U.S. stock market only had a taste of the potential damage from higher bond yields, with the biggest test yet to come, according to Morgan Stanley.

Still, members of the Federal Open Market Committee did not raise rates at their January meeting.

Major indexes in Europe ended mostly higher. Benchmarks in Japan and South Korea slid more than 1 percent. Visit MarketWatch.com for more information on this news. Bitcoin broke above $11,500, nearly double its intraday low from just two weeks ago.

Early indications suggest that US stocks may open lower on Wednesday spooked by the recent rise in bond yields on expectations of a faster pace of interest rate increases from the Federal Reserve.

Traders will now be watching out for a speech by New York Fed President Bill Dudley tonight, although the topic is Puerto Rico, and an address by Atlanta Fed President Raphael Bostic to a banking conference for any further insights into the timing and scale of Fed rate hikes.

Companies announcing earnings this week include Walmart, Glencore, Woolworths, Barclays and Royal Bank of Scotland.

Ferry explosion 'injures a dozen people' in Mexico
Media reports suggest there may have been a build-up of gas aboard the boat but the cause has not yet been officially released. Video taken after the blast and posted online showed at least two ambulances on the dock attending to some of the injured.

Trading in Chinese financial markets will resume on Thursday after being shut for the past week for the Lunar New Year.

The S&P 500 lost 0.3 percent as of 10:06 a.m.in NY, halting a six-day rally. India's Sensex gained 0.3 percent.

The Nasdaq Composite dropped 0.22 percent, to 7,218.23. The trade-weighted index rose to 75.66 from 75.31. The Russell 2000 index of smaller-company stocks shed most of its gains from earlier in the day.

The dollar index, which measures the greenback against a basket of peers, was up 0.2 percent.

In Britain, an unexpected jump in the jobless rate weighed on the pound, helping to send sterling down 0.51 percent to $1.3924. These remarks are taken as a perceived erosion of the dollar's yield advantage in the currency markets.

The 10-year Treasury yield, which edged lower soon after the report, rose 4 basis points to 2.94%, hitting fresh four-year highs. The Dow Jones industrial average lost 166.97 points, or 0.7 percent, to 24,797.78.

Benchmark U.S. crude fell 11 cents to settle at $61.68 per barrel in NY.

To contact the reporters on this story: Todd White in Madrid at twhite2@bloomberg.net, Jeremy Herron in NY at jherron8@bloomberg.net.

Gold decreased 0.5 percent to $1,339.87 an ounce, the lowest in a week.

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