• MTS Economic News_20171011

    11 Oct 2017 | Economic News


• The euro climbed to a two-week high against a broadly weaker dollar on Wednesday on relief that Catalonia had stopped short of formally declaring independence from the rest of Spain.

The euro climbed to as high as $1.18345 in early trade on Wednesday, its strongest since Sept. 26.

The dollar index - which measures the greenback against six major rivals - slipped 0.1 percent to 93.175, having hit a 10-week high last week.

• North Korea is widely expected to conduct another missile test within the next ten days to mark two major political events.

Some kind of provocation could arrive as early as Tuesday, Oct. 10, as the rogue nation celebrates the 72nd anniversary of its ruling Workers Party, experts said. Oct. 18, which marks the beginning of China's 19th Party Congress, could be another ideal opportunity for North Korean leader Kim Jong Un to act out against stinging sanctions.

• The U.S. military flew two strategic bombers over the Korean peninsula in a show of force late on Tuesday, as President Donald Trump met with top defense officials to discuss how to respond to any threat from North Korea.

• China’s Foreign Ministry on Wednesday urged all sides to exercise restraint over the North Korea issue after the U.S. military flew two Air Force B-1B Lancer bombers over the Korean peninsula in a show of force.

• Investors now see roughly an 80 percent chance of a hike at the Fed’s gathering in December, following comments by Chair Janet Yellen in late September that she was “wary of moving too gradually.”

• Oil prices edged up on Wednesday, rising for a third day on signs that markets are gradually tightening after years of oversupply, although the outlook for 2018 remained less certain.

Brent crude futures, the international benchmark for oil prices, were trading at $56.75 per barrel at 0649 GMT, up 14 cents, or 0.25 percent, from their last close. Brent also rose 2 percent the previous day.

U.S. West Texas Intermediate (WTI) crude futures were at $51.09 a barrel, up 17 cents, or 0.33 percent, from their last settlement. Prices rose 2 percent the day before to back above $50 a barrel.

Reference: Reuters

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