• MTS Economic News_20170616

    16 Jun 2017 | Economic News


• The dollar rose to its highest in more than two weeks on Thursday as solid readings on the U.S. economy helped strengthen the case for the Federal Reserve to continue tightening monetary policy this year.

The dollar index .DXY, which tracks the U.S. currency against six major peers, rose to 97.557, its highest since May 30.

The greenback rose to 110.97 yen, its highest against the Japanese currency JPY= since June 2.

• The number of Americans filing unemployment claims fell more than expected last week, suggesting that slack in the labor market was shrinking, and the New York manufacturing and Philadelphia Fed business conditions indexes for June beat expectations.

• U.S. Vice President Mike Pence has hired a lawyer known for defending government officials in high-profile investigations to help him with probes into whether there were ties between the election campaign of U.S. President Donald Trump and Russia, his office said on Thursday.

• The Bank of Japan is expected to leave monetary policy unchanged and signal confidence in a strengthening economy, as a tightening job market and solid global demand support a view that a recovery is gaining momentum.

• Euro zone governments threw Greece another 11th-hour credit lifeline on Thursday worth $9.5 billion and sketched new detail on possible debt relief as the IMF finally offered to help out after two years of hesitation.

• Oil prices settled lower for a second straight day on Thursday, as the market was unable to rebound from Wednesday's decline on the back of a surprise build in U.S. gasoline inventories and ongoing worries about heavy global supply.

Still, Brent crude LCOc1 fell to a session low of $46.70 a barrel, its weakest since May 5 and near six-month lows. It settled down 8 cents at $46.92 a barrel.

U.S. crude CLc1 settled down 27 cents at $44.46, after touching a six-month low of $44.32 a barrel

Reference: Reuters, CNBC

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