{"id":116986,"date":"2017-11-23T06:19:18","date_gmt":"2017-11-23T11:19:18","guid":{"rendered":"http:\/\/countingpips.com\/?p=116986"},"modified":"2018-06-01T15:49:08","modified_gmt":"2018-06-01T15:49:08","slug":"fed-on-track-for-december-rate-hike","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/fed-on-track-for-december-rate-hike\/","title":{"rendered":"Fed on track for December rate hike"},"content":{"rendered":"
November 23, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

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US stocks slip while Nasdaq logs a record high<\/h2>\n<\/div>\n<\/div>\n

US stocks<\/b>\u00a0edged lower on Wednesday in thin trading ahead of Thanksgiving holiday with the Federal Reserve on track for a rate hike in December. The dollar weakened as the minutes raised the likelihood of slowing the pace of rate increases in 2018: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, plunged 0.7% to 93.258. The\u00a0S&P 500<\/a>\u00a0slipped 0.1% to 2597.08 led by financial shares. TheDow Jones\u00a0<\/em>industrial average lost 0.3% to 23526.18.\u00a0Nasdaq\u00a0<\/em>composite index meanwhile rose 0.1% to fresh record 6867.36.<\/p>\n

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Minutes showed some Fed officials said \u201cthere was some likelihood that inflation might remain below 2% for longer than they currently expected.\u201d Sluggish inflation raises doubts the central bank will implement the three rate hikes policy makers penciled in for 2018 in the last dot plot reflecting their expectations of Fed funds rate. However the minutes confirmed eh Fed was on track for a near term rate hike. Economic data were mixed: US durable goods orders fell 1.2% in October, its second drop this year, when a 0.5% was forecast. US initial weekly jobless claims fell 13 thousand to 239 thousand. The University of Michigan said its consumer sentiment index fell to a reading of 98.5 from October\u2019s 100.7, still the second-best reading in 13 years. US markets are closed today for Thanksgiving holiday.<\/p>\n<\/div>\n<\/div>\n

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European stocks slip as euro advances<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>pulled back on Wednesday. Both the\u00a0euro\u00a0<\/em>and\u00a0British Pound\u00a0<\/em>advanced against the dollar. The Stoxx Europe 600 closed lower 0.3%. Germany\u2019s\u00a0DAX 30\u00a0<\/em>slumped 1.2% settling at 13015.04. France\u2019s\u00a0CAC 40\u00a0<\/a>slipped 0.3% while UK\u2019s\u00a0FTSE 100\u00a0<\/em>added 0.1% to 7419.02. Indices opened 0.2%-0.5% lower today.<\/p>\n

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Chinese stocks fall on tighter financial oversight concerns<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mostly lower. Japanese markets are closed for a national holiday. Chinese stocks are falling as central government tightened regulation for small online lenders: the\u00a0Shanghai Composite Index\u00a0<\/em>is down 2.3% and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is 1.2% lower. Australia\u2019s All Ordinaries Index is flat 0while Australian dollar inched higher against the greenback.<\/p>\n

\"AU200\"<\/p>\n

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Oil lower despite US crude inventory draw<\/h2>\n<\/div>\n<\/div>\n

Oil futures prices\u00a0<\/b>are edging lower today. Prices ended higher yesterday on shutdown of the 590,000 barrel per day Keystone pipeline from Canada to the United States. The US Energy Information Administration report domestic crude supplies fell by 1.9 million barrels last week also supported oil prices. January Brent crude rose 1.2% to $63.32 a barrel on Wednesday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets US stocks slip while Nasdaq logs a record high US stocks\u00a0edged lower on Wednesday in thin trading ahead of Thanksgiving holiday with the Federal Reserve on track for a rate hike in December. The dollar weakened as the minutes raised the likelihood of slowing the pace of rate increases in 2018: the\u00a0live dollar […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-116986","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=116986"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116986\/revisions"}],"predecessor-version":[{"id":116997,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116986\/revisions\/116997"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=116986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=116986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=116986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}