• MTS Economic News_20170822

    22 Aug 2017 | Economic News


• The dollar inched higher against a basket of currencies on Tuesday, with traders focusing on the annual central banking conference in Jackson Hole this week for insights into the outlook for monetary policy.

The dollar index, which measures the greenback's value against a basket of six major currencies, edged up 0.1 percent to 93.169 .DXY.

If Yellen's speech increases market expectations that the Fed will raise interest rates in December, that could prompt investors to unwind bearish bets against the dollar, and lend the greenback some support, said Stephen Innes, head of trading in Asia-Pacific for OANDA in Singapore.

The dollar rose 0.3 percent to 109.26 yen JPY=, pulling away from last week's low near 108.60 yen, which was the greenback's weakest level in about four months.

• U.S. Defense Secretary Jim Mattis arrived in Iraq on Tuesday, just days after the start of an offensive to take back the city of Tal Afar, to speak with Iraqi leaders about the next steps in the fight against Islamic State.

• Italy, France and Germany have asked the European Commission to reinforce existing regulations that allow EU states to block foreign acquisitions of European companies, two Italian dailies reported on Tuesday.

• While Britain toils over its messy divorce with the European Union, France's president Emmanuel Macron is embarking on a drive to deepen the economic integration of a bloc he says needs to be more protective of its citizens.

The French leader this week embarks on a three-day tour of central and eastern Europe, where he will seek to win backers for his push to tighten labour rules over 'posted' workers, a sensitive issue that has exacerbated an east-west rift.

Macron will visit Romania, Bulgaria and Austria, where he will also meet the leaders of Czech Republic and Slovakia, but is skipping Hungary and Poland, whose right-wing governments he has accused of spurning the bloc's values.

• Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States.

Brent crude oil LCOc1 was up 40 cents at $52.06 a barrel by 0715 GMT. U.S. light crude CLc1 was 35 cents higher at $47.72.


Reference: Reuters

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