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Spot Gold and Dollar Slip On Friday

15 August 2017

North Korea had responded to Trump's previous promise to unleash "fire and fury" with a threat to land missiles near the U.S. Pacific territory of Guam.

So far it's just been a war of words between the US and North Korea so the rally has just been a normal reaction to the possibility of a geopolitical event. "It's hard to tell whether this could trigger a stronger bout of risk aversion". "One never knows when geopolitical risks will arise". Falls of just 0.3% were recorded by both the Dow Jones industrial average and the more broad-based S&P 500 in early trading. Shanghai Composite Index tumbled 1.6 percent to 3,208.54.

In an inversion of the curve, the spot VIX rose above VIX futures, meaning traders are paying more for protection against a sudden sharp drop on the S&P than for protection in the future.

However, the weak Chinese data hit oil prices, with Brent crude futures LCOc1 down 35 cents lower at $51.74 a barrel.

Investors are looking to a report on U.S. retail sales due Tuesday for their next clue on the trajectory of USA inflation.

High Court to rule on whether Barnaby Joyce is a New Zealander
The New Zealand Labour Party has fired back at Australian Foreign Minister Julie Bishop for making "false claims" about the party. The revelation put the relationship of the Australian and New Zealand governments at risk, she added.

"It gives them nearly a mental excuse to sell".

Buying interest is somewhat subdued, however, as the ever-escalating war of words between President Donald Trump and North Korea continues to raise geopolitical concerns. "I do think we could see markets pull back between 1 and 5 percent". The yield - or interest rate - on a benchmark 10-year US Treasury bill dropped to 2.24%, while a 10-year German bund was yielding 0.43%.

The euro was quoted at $1.1733-1736 and 128.95-97 yen against $1.1747-1757 and 129.64-74 yen in NY and $1.1807-1808 and 130.56-60 yen in Tokyo late Tuesday afternoon.

Nvidia Corp.(NVDA) shares fell 7%, even after the chip maker posted upbeat earnings late Thursday.

Shiseido shares soared 14.54 percent to 4,450 yen after the makeup company upgraded its annual sales and profit forecasts, and announced robust earnings for the January-June period.

Perseid meteor shower peaks tonight
Hence, they rarely reach the Earth and when they do, it is only small parts that no one realises, Sheikh Salman said. Some meteor showers are slow, but we are moving into the Perseid stream so they are coming at us quite swiftly.

The market was also waiting for data that would offer clues about the extent to which the strengthening United States labour market is spilling over into inflation.

Japanese markets were closed for a holiday, but the tense mood dragged Asian shares lower and an MSCI index of stocks across the globe posted its largest weekly drop since the week before Donald Trump won the USA presidential election in November.

Weekly Unemployment Claims rose unexpectedly by 224K.

"Another twist of the screw tighter for this labour market but inflation is not able to gain a foothold in this economy", Chris Rupkey, chief economist at MUFG in NY, told Reuters. Equity benchmarks in Germany and France on Wednesday fell by more than 1% each, marking their worst sessions since July 21. Assets that generally do well in time of market or geopolitical turbulence were among fallers on Tuesday.The yen, which tends to gain on expectations that Japanese investors will repatriate assets in a crisis, fell 0.7 percent to 110.38 per dollar.The Swiss franc, which gained 1.1 percent on August 9 as the war of words over the Korean peninsula intensified, held steady at 0.9719 per dollar.

Ronaldo pays back Barcelona, Messi with own version of epic goal celebration
Now the two teams lock horns for the first time this season as they play for the Super Cup at Camp Nou in Barcelona . But Ronaldo's goal celebration - when he took his shirt off and flexed his muscles - earned him a yellow card.

Spot Gold and Dollar Slip On Friday