Gold prices fall to 2-weeks low, time to buy?

Weekly USDJPY

The New Zealand dollar gave up earlier gains after the US Federal Reserve announced a plan to start shrinking its balance sheet and signalled one more rate hike later this year, remaining rangebound ahead of Saturday's general ...

The biggest US telephone operators, Verizon and AT&T, rose more than 2 percent, providing the second- and third-biggest individual stock boosts for the S&P. The Dow Jones Industrial Average rose 0.28% to 22,331.35 points, the S&P 500 gained 0.15% to 2,503.87 points and the Nasdaq Composite added 0.1% to 6,454.64 points. This article is strictly for informational purposes only.

Canada has already raised interest rates twice in recent months, while the Bank of England shocked many last week by flagging its own coming increases.

In the case of QE, the Fed's stimulus brightened the outlook for growth and inflation, while the periods in between refocused investors on the mediocre state of the post-crisis economy.

Fed members also said that they now project faster growth for 2017, with a median forecast of 2.4 percent gross domestic product growth, versus a June projection of 2.2 percent. Kraft Heinz fell 1.2 percent. Eight of the 11 major S&P sectors were higher, led by 0.50 percent gain in the energy index.

US crude rose 1.5 percent to $50.65 per barrel and Brent was last at $55.86, up 1.75 percent on the day.

European Central Bank President Mario Draghi is due to speak later at a conference on financial stability, while the bank's chief economist Peter Praet also chairs a policy panel at a conference. "Now on the way out, if the idea is that the Fed is not as stimulative as it once was, it might have the effect of depressing" bond yields. Yet policymakers point to another reason to keep tightening US monetary policy: the loosening of financial conditions this year, in which credit spreads have narrowed, stock prices have soared, and bond yields and the dollar have slipped.

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The euro rose 0.1 percent to $1.2004 EUR= while the yen rose 0.3 percent to 111.24 per dollar.

The central bank "gave only passing mention to inflation outside of assuming it will return to the 2% level in the medium term", while continuing to leave near-term rate projections in place, said Ian Lyngen, head of USA rates strategy at BMO Capital Markets.

Yields on the 10-year U.S. Treasury note rose to their highest levels since August 8 on the news.

Woodside Petroleum and Santos surged around 2% after oil prices settled 2% higher overnight.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.24 percent. The broader Topix index ended little changed at 1,667.92. The consumer staples index .SPLRCS was the biggest decliner, down 0.97 percent drop.

The euro gained some support on upbeat German manufacturing data, with the benchmark ZEW survey climbing by 1.2 points in September to 87.9‚ above consensus expectations of 86.2.

The New Zealand dollar was down 0.3 per cent at $0.7334, its rally the previous day petering out against a broadly stronger dollar.

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