Yellen: We Might Have Been Wrong

US President Donald Trump warned North Korea that any US military option would be “devastating” for Pyongyang

Spot gold rose 0.1% to Dollars 1,294.62 per ounce at 0108 GMT.

ANALYST'S TAKE: "With the focus back on monetary policy and particularly fiscal policies in the US, markets in the Asian region may sit tight midweek awaiting updates", said Jingyi Pan, a market strategist at IG in Singapore.

The price action in the dollar and Treasury markets suggests that investors interpreted her comments to mean that soft inflation readings do not have a big bearing on Fed monetary policy.

As of 12:43 p.m. HK/SIN, the dollar index was up 0.09 percent to 93.09.DXY. The dollar index, measuring the green money against the basket of six major currencies, rose 0.31 percent to 92.73 points. There has been a focus around the response of American football players towards the United States national anthem and more importantly the tensions between North Korea.

Asian stock markets were mixed on Wednesday as investors awaited the outlines of USA tax overhaul plans by President Donald Trump while news headlines on geopolitical tensions surrounding North Korea have quieted.

USA stocks finished mixed on Tuesday, as investors digested the latest remarks from Federal Reserve Chairwoman Janet Yellen.

In New Zealand, RBNZ policymakers are scheduled to gather later today to decide on interest rates, which are projected to remain steady at a record low of 1.75% until the end of the year.

U.S. Treasury yields rose, with the U.S. 2-year yield near 1.47 percent and the 10-year yield around 2.30 percent. "But if he (US President Donald Trump) just waffles without any substance, the market is looking for any reason right now to take risk off the table".




Yellen admits the Fed may have misjudged the strength of the labor market and the degree to which longer-run inflation expectations are consistent with its inflation objective, or even the fundamental forces driving inflation.

The dollar climbed to a one-month high and bond yields rose as risks grew for a USA interest rate hike in December, while Asian stocks hovered near multi-week lows as tensions in the Korean peninsula remain elevated.

Strong U.S. data on durable goods orders also pressured gold, Melek said. The Standard & Poor's 500 index added 0.18 points to 2,496.84. The tech-heavy Nasdaq Composite advanced 9.57 points, or 0.1%, to 6,380.16, recouping a fraction of losses from the previous session.

-The MSCI Emerging Market index sank 0.8 percent to the lowest in more than a month.

-The euro sank 0.5 percent to $1.1792, the weakest in five weeks.

In oil markets, Brent crude traded at around $58.23 a barrel on Wednesday morning, down 0.36 percent, while USA crude was flat at $51.89 a barrel.

Compared to the Japanese Yen, the dollar climbed 0.4 percent to 112.19 yen.

Related news:

Hot News

isis-killer-beheading-video-story-top Ancelotti set for reunion with PSG and Verratti
Sep 27, 2017 - 00:52
Bayern president Uli Hoeness launched a thinly-veiled attack on PSG's spending policy in an interview on Monday, but Rummenigge focused on the football .

North Korea did not respond to USA bomber flight on Saturday: NIS
Sep 27, 2017 - 00:51
Since Kim rose to power after the death of his father, Kim Jong Il, in 2011, he has ramped up nuclear and missile weapon tests. That's in addition to cyberwarfare capabilities, a biological weapons research program and a chemical weapons stockpile.

isis-killer-beheading-video-story-top Ivanka Trump in Detroit, taps biz to give $300M to computer education
Sep 27, 2017 - 00:51
Code.org, a Seattle non-profit that advocates for K-12 computer science education, is calling the announcement a victory. According to a press release , the money will be donated over the course of five years.

Lacazette strikes twice for Arsenal to see off West Brom
Sep 27, 2017 - 00:51
Formation foul-up I just don't see three at the back as a long-term solution for Arsenal . They can make their own minds up and talk about it but i dint want to talk about it".

isis-killer-beheading-video-story-top Mass Graves of Slain Hindus Found in Northern Myanmar
Sep 27, 2017 - 00:50
The word "Rohingya" is a controversial in Myanmar, whose government has refused to grant citizenship to members of this minority group.

isis-killer-beheading-video-story-top Prince Harry And Meghan Markle Look Adorable At First Public Appearance Together
Sep 27, 2017 - 00:49
The British Royal wore jeans and a black polo, while the actress wore a white button-down top and ripped jeans. Trudeau, on the other hand, played mischief by pointing at his photographer while encouraging more cheering.

Problems Apple Inc. (AAPL) Stock Faces After the iPhone X Debut
Sep 27, 2017 - 00:47
Total product cost of the iPhone 8 Plus totals US$295.44, which is just about 37% of its US$800 retail price tag. According to estimates from research firm IHS Markit , the bill of materials for the iPhone 8 is $247.51.

isis-killer-beheading-video-story-top Black Stars thrash Super Eagles, win WAFU Cup
Sep 26, 2017 - 00:46
Nigeria pulled a consolation goal in added time as Rabiu Ali flawless inched free kick beat Ghana's Joseph Addo at his near post. Nigeria goalkeeper Ikechukwu Ezenwa was beaten twice from the spot.

isis-killer-beheading-video-story-top Intel forced to announce Coffee Lake specs - pricing and launch date confirmed
Sep 26, 2017 - 00:45
INTC stock has been on a roller coaster this year, but the new 8th-gen Intel Core CPUs could be the ticket to growth. And for the first time, buyers of the budget-priced Core i3 chips get four cores instead of two.

isis-killer-beheading-video-story-top Iran reacts to Kurdish referendum
Sep 26, 2017 - 00:45
There were fewer billboards celebrating the referendum, reflecting resentment that a "yes" vote could be seen as a plebiscite for the Kurdish leader.

isis-killer-beheading-video-story-top Pochettino feels the love as Kane sets up win over West Ham
Sep 26, 2017 - 00:40
Their team were pedestrian for long periods and gave up three goals without Tottenham having to do much. We played well, we competed, we fight in a very hard thing, a derby.

isis-killer-beheading-video-story-top New Character, Mode and World in Upcoming Update
Sep 26, 2017 - 00:39
It is unlocked after you complete the original, paid level set in Worlds 1-6 and gives you nine new levels. Coinciding with Friday's update, Nintendo will also drop the price of Super Mario Run for a limited time.

Tropical Storm watch issued for NC coast as Hurricane Maria moves north
Sep 25, 2017 - 00:57
These swells will be increasing along the Mid-Atlantic coast later today, according to the Hurricane Center. Maria will steer clear of Florida and us in Georgia as it tracks farther north in the south Atlantic.

isis-killer-beheading-video-story-top Mesa Police: Officer-involved shooting near Southern/Crismon, suspect killed
Sep 25, 2017 - 00:56
Officers from surrounding towns assisted the New Haven Police Department on Saturday. The wounded La Verne police officer was hospitalized and expected to recover.

isis-killer-beheading-video-story-top 3.4 magnitude earthquake probably caused by explosion hits North Korea
Sep 25, 2017 - 00:54
President Donald Trump has put China at the forefront of US efforts to rein in North Korea's nuclear program. On Thursday, North Korea struck back at U.S.