July 20, 2018, 08:29

Mexico stocks higher at close of trade; S&P/BMV IPC up 0.33%

Investing.com – Mexico stocks were higher after the close on Friday, as gains in the Consumer Goods&Services, Financial Services and Consumer Staples sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC added 0.33%.

The best performers of the session on the S&P/BMV IPC were VOLARIS A (MX:VOLARA), which rose 9.26% or 1.06 points to trade at 12.51 at the close. Meanwhile, Alsea , S.A.B. De C.V. (MX:ALSEA) added 2.76% or 1.820 points to end at 67.650 and Grupo Bimbo, S.A.B. De C.V. (MX:BIMBOA) was up 2.73% or 1.060 points to 39.900 in late trade.

The worst performers of the session were Kimberly - Clark De Mexico A (MX:KIMBERA), which fell 2.45% or 0.850 points to trade at 33.860 at the close. Grupo LALA SA de CV (MX:LALAB) declined 2.18% or 0.45 points to end at 20.15 and Grupo Televisa SAB Unit (MX:TLVACPO) was down 1.38% or 1.07 points to 76.32.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 168 to 100 and 13 ended unchanged.

Gold Futures for August delivery was up 0.60% or 7.30 to $1231.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.23% or 0.16 to hit $68.08 a barrel, while the September Brent oil contract rose 0.62% or 0.45 to trade at $73.03 a barrel.

USD/MXN was down 0.11% to 19.0324, while EUR/MXN rose 0.56% to 22.3069.

The US Dollar Index Futures was down 0.80% at 94.22.

July 20, 2018, 08:30

Stocks - Dow Extends Weekly Winning Streak Despite Trade-War Jitters

Investing.com – Wall Street notched a third-straight weekly win despite closing flat Friday, as concerns about an escalating U.S.-China trade war offset optimism over solid quarterly earnings.

The Dow Jones Industrial Average fell about 0.03%. The S&P 500 fell 0.09%, while the Nasdaq Composite fell about 0.07%.

U.S.-China trade war tensions returned to the fold after President Donald Trump said he was "ready" to slap $500 billion worth of tariffs on Chinese goods imported to the United States.

Fears over an escalating trade war between the U.S. and China were exacerbated as Trump took to Twitter, criticizing China, and other countries for "manipulating their currencies and interest rates lower."

Trump's rebuke of China came as the Far-East nation lowered its overnight its 7-day Treasury rate by 103 basis points, pushing the yuan to its lowest level in a year. Some cited the move as a countermeasure against U.S. tariffs.

That dampened the upbeat start to the session, which followed quarterly earnings results from Microsoft, Honeywell and General Electric that beat consensus estimates on both the top and bottom lines.

Microsoft (NASDAQ:MSFT) and Honeywell (NYSE:HON) stocks rose sharply, helping to steady the broader market. But GE's (NYSE:GE) cut of its free cash flow forecast for the year overshadowed its earnings and revenue beat, pressuring the stock more than 4% lower.

Financials also underpinned the broader market as a string of mostly better-than-expected results from major Wall Street banks kept demand elevated.

Morgan Stanley, Bank of America and Goldman Sachs reported above-consensus earnings this week, adding to a bullish report from JPMorgan last week.

Energy, however, weighed on sentiment as energy stocks shrugged off the a rise in U.S. oil prices Friday.

On the New York Mercantile Exchange crude futures for September delivery rose $1.30 to settle at $70.46 a barrel. That, however, failed to prevent oil prices slipping to a second-straight weekly loss amid a slump earlier in the week.

On the currency front, the US Dollar Index Futures had its worst day in a month, supporting upside in the equities, as President Donald Trump slammed the Federal Reserve's monetary policy measures, arguing that higher interest rates were denting the United States' "big competitive edge."

Top Gainers and Losers on Wall Street Today:

Microsoft (NASDAQ:MSFT), JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS) were among the top Dow gainers for the session.

IBM (NYSE:IBM), Caterpillar (NYSE:CAT) and Cisco Systems (NASDAQ:CSCO) were among the worst Dow performers of the session.

July 20, 2018, 08:25

U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.03%

Investing.com – U.S. stocks were lower after the close on Friday, as losses in the Utilities, Consumer Services and Telecoms sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 0.03%, while the S&P 500 index declined 0.09%, and the NASDAQ Composite index lost 0.07%.

The best performers of the session on the Dow Jones Industrial Average were Microsoft Corporation (NASDAQ:MSFT), which rose 1.79% or 1.87 points to trade at 106.27 at the close. Meanwhile, JPMorgan Chase&Co (NYSE:JPM) added 1.26% or 1.39 points to end at 111.28 and Goldman Sachs Group Inc (NYSE:GS) was up 0.90% or 2.06 points to 231.69 in late trade.

The worst performers of the session were International Business Machines (NYSE:IBM), which fell 1.94% or 2.89 points to trade at 146.35 at the close. Caterpillar Inc (NYSE:CAT) declined 1.86% or 2.60 points to end at 136.82 and Cisco Systems Inc (NASDAQ:CSCO) was down 0.92% or 0.39 points to 42.01.

The top performers on the S&P 500 were Cintas Corporation (NASDAQ:CTAS) which rose 5.11% to 203.57, Philip Morris International Inc (NYSE:PM) which was up 4.22% to settle at 84.31 and VF Corporation (NYSE:VFC) which gained 4.15% to close at 92.94.

The worst performers were State Street Corporation (NYSE:STT) which was down 7.41% to 85.87 in late trade, Skyworks Solutions Inc (NASDAQ:SWKS) which lost 5.36% to settle at 96.99 and Alaska Air Group Inc (NYSE:ALK) which was down 4.95% to 60.63 at the close.

The top performers on the NASDAQ Composite were Rewalk Robotics Ltd (NASDAQ:RWLK) which rose 73.64% to 1.25, Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) which was up 25.46% to settle at 0.31 and SAExploration Holdings Inc (NASDAQ:SAEX) which gained 19.41% to close at 2.030.

The worst performers were Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) which was down 24.09% to 7.91 in late trade, FTD Companies Inc (NASDAQ:FTD) which lost 19.47% to settle at 3.64 and Diversified Restaurant Holdings Inc (NASDAQ:SAUC) which was down 16.53% to 1.010 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1608 to 1415 and 139 ended unchanged; on the Nasdaq Stock Exchange, 1347 fell and 1195 advanced, while 129 ended unchanged.

Shares in Cintas Corporation (NASDAQ:CTAS) rose to all time highs; up 5.11% or 9.89 to 203.57. Shares in State Street Corporation (NYSE:STT) fell to 52-week lows; falling 7.41% or 6.87 to 85.87. Shares in VF Corporation (NYSE:VFC) rose to all time highs; up 4.15% or 3.70 to 92.94. Shares in Microsoft Corporation (NASDAQ:MSFT) rose to all time highs; rising 1.79% or 1.87 to 106.27. Shares in Diversified Restaurant Holdings Inc (NASDAQ:SAUC) fell to 52-week lows; falling 16.53% or 0.200 to 1.010.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 0.31% to 12.83.

Gold Futures for August delivery was up 0.56% or 6.90 to $1230.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.18% or 0.12 to hit $68.12 a barrel, while the September Brent oil contract rose 0.68% or 0.49 to trade at $73.07 a barrel.

EUR/USD was up 0.69% to 1.1723, while USD/JPY fell 0.86% to 111.49.

The US Dollar Index Futures was down 0.80% at 94.22.

July 20, 2018, 06:01

Metal Prices Up as Dollar Dashes Lower

Investing.com – Metal prices were higher Friday as the dollar moved sharply lower after President Donald Trump said higher interest rates and the strength of the greenback were hampering economic growth.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange rose by $8.10, or 0.66%, to $1,232.30 a troy ounce from a session low of $1.215.50.

Trump took to Twitter to express concerns about a strong U.S. dollar, which he said was “taking away our [United States] big competitive edge.” As well as the Fed's approach to monetary policy, other central banks were also targeted by Trump as he claimed they were “manipulating their currencies and interest rates lower.”

That came a day after the president said he was "not happy" about interest-rate increases during an interview with CNBC Thursday, prompting traders to trim their upside bets on the greenback, lending support to the yellow metal.

Trump's headline-grabbing comments about interest rates had little impact on rate-hike expectations as the odds for a fourth rate hike in December rose to 56.2% from 55.2%, according to Investing.com's Fed Rate Monitor Tool.

The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, fell by 0.82% to 94.20. The dollar inex had traded as high as 95.44 on Thursday prior to Trump's comments, but turned slightly negative for the week amid Friday's plunge.

Gold is sensitive to moves lower in both bond yields and the U.S. dollar. A weaker dollar makes gold cheaper for holders of foreign currency raising demand, while a fall in U.S. bond yields limits the opportunity cost of holding non-yielding assets such as bullion.

The weaker dollar overshadowed renewed focus on U.S.-China trade-war tensions after the president said he was "ready" to slap $500 billion worth of tariffs on Chinese goods imported to the U.S.

Copper prices rose 2.10% to $2.75, while zinc prices fell 2.76% to 2,549.00.

Aluminium prices fell 2.11% to 2,045.50, while Nickel futures rose 0.80% to 13,532.00.

Silver futures 0.93% to $15.55 a troy ounce, while platinum futures rose 2.89% to $829.60

July 20, 2018, 05:00

Stocks - Industrials Active as GE, Caterpillar Sink, Honeywell Climbs

Investing.com - Industrials stocks were caught in a tug-of-war in active trading Friday as investors digested President Donald Trump’s latest threats on trade with China and big-name earnings.

The S&P Industrial Sector index was up about 0.15% in early-afternoon trading.

General Electric (NYSE:GE) was among the biggest big-name losers, falling about 4.7% as of 12:55 PM ET (16:55 GMT). The former Dow component reported a quarterly profit that fell less than expected, pushing the stock higher initially before the bell.

But GE stock tumbled as the conglomerate predicted it would make $1 billion less in free cash flow for the year.

That weakness was countered by Honeywell (NYSE:HON), which rose about 3.7% at 12:55 PM ET (16:55 GMT). Strong sales of aircraft parts and services allowed the company to lift its 2018 earnings forecast.

But companies with large exposure to China sank lower after the president said in an interview on CNBC that he is ready to impose tariffs on $500 billion worth of Chinese goods to the U.S. if China does not back down on its trade policies.

Construction and farm equipment makers sank on the renewed trade-war worries. Caterpillar (NYSE:CAT) fell around 1% at 12:55 PM ET (16:55 GMT) and Deere (NYSE:DE) lost 1.6%.

Meanwhile, Lockheed Martin (NYSE:LMT) showed continued strength following a strong showing at the Farnborough Air Show, which included a handshake deal with the Pentagon on the F-35 warplane.

The stock gained about 0.8% at 12:55 PM ET (16:55 GMT).

July 20, 2018, 04:35

Denmark stocks higher at close of trade; OMX Copenhagen 20 up 0.83%

Investing.com – Denmark stocks were higher after the close on Friday, as gains in the Oil&Gas, Personal&Household Goods and Healthcare sectors led shares higher.

At the close in Copenhagen, the OMX Copenhagen 20 rose 0.83% to hit a new 1-month high.

The best performers of the session on the OMX Copenhagen 20 were Vestas Wind Systems A/S (CO:VWS), which rose 4.46% or 17.9 points to trade at 419.0 at the close. Meanwhile, Lundbeck A/S (CO:LUN) added 4.24% or 19.0 points to end at 467.0 and Coloplast A/S (CO:COLOb) was up 2.30% or 15.4 points to 683.8 in late trade.

The worst performers of the session were Danske Bank A/S (CO:DANSKE), which fell 0.63% or 1.1 points to trade at 180.8 at the close. Jyske Bank A/S (CO:JYSK) declined 0.32% or 1.1 points to end at 348.1 and Novozymes A/S B (CO:NZYMb) was down 0.24% or 0.8 points to 333.1.

Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 64 to 59 and 16 ended unchanged.

Shares in Coloplast A/S (CO:COLOb) rose to 5-year highs; rising 2.30% or 15.4 to 683.8.

Crude oil for September delivery was down 0.03% or 0.02 to $68.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.28% or 0.20 to hit $72.78 a barrel, while the August Gold Futures contract rose 0.42% or 5.20 to trade at $1229.20 a troy ounce.

USD/DKK was down 0.53% to 6.3672, while EUR/DKK fell 0.01% to 7.4511.

The US Dollar Index Futures was down 0.60% at 94.41.

July 20, 2018, 04:35

Italy stocks lower at close of trade; Investing.com Italy 40 down 0.30%

Investing.com – Italy stocks were lower after the close on Friday, as losses in the Chemicals, Industrials and Financials sectors led shares lower.

At the close in Milan, the Investing.com Italy 40 fell 0.30%.

The best performers of the session on the Investing.com Italy 40 were Recordati (MI:RECI), which rose 3.90% or 1.17 points to trade at 31.20 at the close. Meanwhile, Davide Campari Milano SpA (MI:CPRI) added 1.46% or 0.11 points to end at 7.64 and Snam (MI:SRG) was up 0.93% or 0.034 points to 3.692 in late trade.

The worst performers of the session were Buzzi Unicem (MI:BZU), which fell 3.57% or 0.71 points to trade at 19.20 at the close. Ferrari NV (MI:RACE) declined 2.40% or 2.95 points to end at 119.80 and Fiat Chrysler Automobiles NV (MI:FCHA) was down 2.31% or 0.388 points to 16.416.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 222 to 120 and 39 ended unchanged.

Shares in Davide Campari Milano SpA (MI:CPRI) rose to all time highs; up 1.46% or 0.11 to 7.64.

Crude oil for September delivery was up 0.04% or 0.03 to $68.27 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.36% or 0.26 to hit $72.84 a barrel, while the August Gold Futures contract rose 0.43% or 5.30 to trade at $1229.30 a troy ounce.

EUR/USD was up 0.51% to 1.1702, while EUR/GBP fell 0.21% to 0.8927.

The US Dollar Index Futures was down 0.60% at 94.41.

July 20, 2018, 04:15

U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 0.08%

Investing.com – U.K. stocks were lower after the close on Friday, as losses in the Forestry&Paper, Construction&Materials and Automobiles&Parts sectors led shares lower.

At the close in London, the Investing.com United Kingdom 100 fell 0.08%.

The best performers of the session on the Investing.com United Kingdom 100 were Hikma Pharmaceuticals PLC (LON:HIK), which rose 4.30% or 66.50 points to trade at 1614.50 at the close. Meanwhile, British American Tobacco PLC (LON:BATS) added 2.54% or 98.00 points to end at 3960.00 and Mediclinic International PLC (LON:MDCM) was up 1.81% or 9.40 points to 528.60 in late trade.

The worst performers of the session were Provident Financial PLC (LON:PFG), which fell 1.69% or 10.60 points to trade at 615.20 at the close. EasyJet PLC (LON:EZJ) declined 1.64% or 27.00 points to end at 1615.00 and Glencore PLC (LON:GLEN) was down 1.61% or 5.10 points to 311.65.

Falling stocks outnumbered advancing ones on the London Stock Exchange by 972 to 910 and 382 ended unchanged.

Shares in Hikma Pharmaceuticals PLC (LON:HIK) rose to 52-week highs; rising 4.30% or 66.50 to 1614.50.

Gold Futures for August delivery was up 0.42% or 5.10 to $1229.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.31% or 0.21 to hit $68.03 a barrel, while the September Brent oil contract rose 0.12% or 0.09 to trade at $72.67 a barrel.

GBP/USD was up 0.77% to 1.3114, while EUR/GBP fell 0.20% to 0.8928.

The US Dollar Index Futures was down 0.63% at 94.38.

July 20, 2018, 03:15

Greece stocks lower at close of trade; Athens General Composite down 1.60%

Investing.com – Greece stocks were lower after the close on Friday, as losses in the Telecoms, Banking and Travel sectors led shares lower.

At the close in Athens, the Athens General Composite fell 1.60%.

The best performers of the session on the Athens General Composite were Iktinos Hellas (AT:IKTr), which rose 8.70% or 0.4400 points to trade at 5.5000 at the close. Meanwhile, European Reliance General Insurance Co SA (AT:EREr) added 3.15% or 0.110 points to end at 3.600 and Thrace Plastic (AT:THRr) was up 2.20% or 0.050 points to 2.320 in late trade.

The worst performers of the session were Selonda Aquaculture SA (AT:SELr), which fell 7.56% or 0.0090 points to trade at 0.1100 at the close. Karatzi (AT:KRTr) declined 7.33% or 0.550 points to end at 7.100 and Loulis Mills (AT:LOUr) was down 5.45% or 0.12 points to 2.22.

Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 62 to 42 and 11 ended unchanged.

Shares in Iktinos Hellas (AT:IKTr) rose to all time highs; gaining 8.70% or 0.4400 to 5.5000.

Gold Futures for August delivery was up 0.42% or 5.10 to $1229.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.19% or 0.13 to hit $68.11 a barrel, while the September Brent oil contract rose 0.74% or 0.54 to trade at $73.12 a barrel.

EUR/USD was up 0.58% to 1.1711, while EUR/GBP fell 0.15% to 0.8933.

The US Dollar Index Futures was down 0.67% at 94.34.

July 20, 2018, 02:19

Oil Prices on Track for Sharp Weekly Decline Ahead of U.S. Shale Data

Investing.com - Oil prices remained on track for sharp weekly declines in midmorning trade on Friday, despite hopes that Saudi Arabia was determined not to flood markets with exports, as traders looked ahead to the latest weekly data on U.S. production.

New York-traded West Texas Intermediate crude futures fell 39 cents, or 0.57% to $67.85 a barrel by 10:15 AM ET (14:15 GMT), as U.S. crude was unable to hold on to gains seen overnight.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up 19 cents, or 0.26%, to $72.77, far from an intraday high of $73.47.

Saudi Arabia’s OPEC governor Adeeb Al Aama said that exports in July from the cartel’s top producer would be roughly in line with the 7.2 million barrels per day that were exported in June, according to a Dow Jones report.

He further noted that the kingdom plans to cut exports by roughly 100,000 barrels per day in August as it works to ensure it does not push oil into the market beyond customers' needs, avoiding worries that oversupply would curtail prices.

Al Aama indicated that concerns that Saudi Arabia, OPEC’s largest producer and the cartel’s de facto leader, and its partners would oversupply markets are “without basis,” providing some support to the current bearish trend in black gold.

U.S. crude and Brent were on track for weekly losses of 3.8% and 2.8%, respectively, with both barrels down roughly 8% for the month of July.

OPEC and non-OPEC countries led by Russia had agreed to decrease their curbs on output in order to compensate for shortfalls seen in other producers. But Libya recently reopened its ports, exporting oil again and adding to worries that production increases would lead to a supply glut.

Trade war concerns have also pummeled oil prices as investors worried that a negative impact on the global economy could debilitate demand.

U.S. production will also be in focus later Friday when Baker Hughes releases its weekly report on drilling activity. The U.S. oil rig count remained unchanged at 863 last week, as drillers appeared to hold output steady given the decline in prices.

In other energy trading, gasoline futures rose 0.66% $2.0606 a gallon by 10:17 AM ET (14:17 GMT), while heating oil advanced 0.32% to $2.0968 a gallon.

Natural gas futures edged down 0.11% to $2.766 per million British thermal units.

July 20, 2018, 01:17

Bitcoin Inches Forward; CFPB Encourages Crypto

Investing.com - Bitcoin was slightly higher on Friday as a U.S. regulator set up a sandbox to encourage cryptocurrency and blockchain innovation.

Bitcoin was trading at $7,474.80, inching up 0.60% on the Bitfinex exchange, as of 9:16 AM ET (14:16 GMT), not far from its session high of $7,503.30.

The U.S Consumer Financial Protection Bureau wants to help companies create cryptocurrency and blockchain products. The consumer protection agency launched a regulatory sandbox to help firms explore innovated products, the Wall Street Journal reported.

The sandbox is usually set up by regulators to help companies who want to launch new products and is generally established by regulators to let smaller firms create and test products in a space monitored by regulators.

“You can make a strong argument...that new technology actually offers new and innovative ways to protect consumers,” said Mike Mulvaney, acting chief of the CFPB. “You are moving light years beyond the complaint hotline to where you can really see things happening in real time.”

Cryptocurrencies overall were lower. The coin market cap of total market capitalization inched down to $284 billion at the time of writing compared to $291 billion on Thursday.

Ethereum fell 3.85% to $464.38 on the Bitfinex exchange. Ripple, the third-largest virtual currency, decreased 7.04% to $0.45862, while Litecoin was at $85.209, down 3.57%.

Meanwhile Federal Reserve Chairman Jerome Powell told Congress on Wednesday there are significant risks to alternative currencies.

“Cryptocurrencies are great if you’re trying to hide money or if you’re trying to launder money. It doesn’t really have any intrinsic value, so I think there are investor or consumer protection issues as well,” he told the House Financial Services Committee.

July 20, 2018, 12:32

Stocks - Microsoft, GE, Honeywell Gain in Pre-market, Skechers crashes

Investing.com - Stocks in focus in pre-market trade Friday:

• Microsoft (NASDAQ:MSFT) stock jumped 3.46% by 8:20 AM ET (12:20 GMT) after the firm reported second-quarter earnings that beat consensus thanks to cloud services revenue.

General Electric (NYSE:GE) stock gained 0.80% after the conglomerate managed to beat consensus expectations despite a 28% drop in profit.

• Honeywell International (NYSE:HON) stock rose 2.75% as strong sales of aircraft parts and services allowed the company to lift its 2018 earnings forecast.

• Skechers USA (NYSE:SKX) stock tanked 26.47% as second-quarter earnings per share came well under expectations and the company forecasts third-quarter EPS of $0.50 to $0.55, compared to the Factset consensus of $0.67.

July 20, 2018, 12:31

Canadian Annual Inflation 2.5% in June

Investing.com - The overall rate of inflation in Canada picked up in June, Statistics Canada said on Friday.

The consumer price index rose 2.5% last month, compared with the same month a year earlier.

Prices rose by 0.1% from a month earlier.

Economists had expected annual inflation to increase by 2.4% and monthly inflation to stay at 0.1%.

Core inflation, which excludes gasoline, was up 1.3% from a year earlier and rose by 0.1% from the previous month.

The Bank of Canada aims to keep inflation at 2%, the midpoint of a target range of 1% to 3% over the medium term.

July 20, 2018, 10:45

India stocks higher at close of trade; Nifty 50 up 0.48%

Investing.com – India stocks were higher after the close on Friday, as gains in the IT, Technology and Healthcare sectors led shares higher.

At the close in NSE, the Nifty 50 rose 0.48%, while the BSE Sensex 30 index gained 0.40%.

The best performers of the session on the Nifty 50 were Bajaj Finance Ltd (NS:BJFN), which rose 8.01% or 201.75 points to trade at 2721.35 at the close. Meanwhile, Bajaj Finserv Ltd (NS:BJFS) added 5.77% or 363.20 points to end at 6663.95 and Sun Pharmaceutical Industries Ltd. (NS:SUN) was up 2.87% or 15.65 points to 560.10 in late trade.

The worst performers of the session were Bajaj Auto Ltd (NS:BAJA), which fell 9.42% or 293.40 points to trade at 2839.60 at the close. Hindustan Petroleum Corporation Ltd (NS:HPCL) declined 2.95% or 8.40 points to end at 275.40 and Indian Oil Corporation Ltd (NS:IOC) was down 2.90% or 4.80 points to 161.05.

The top performers on the BSE Sensex 30 were Sun Pharmaceutical Industries Ltd. (BO:SUN) which rose 2.72% to 559.90, Infosys Ltd (BO:INFY) which was up 2.42% to settle at 1348.35 and Reliance Industries Ltd (BO:RELI) which gained 2.23% to close at 1128.55.

The worst performers were Bajaj Auto Ltd (BO:BAJA) which was down 8.73% to 2841.10 in late trade, Vedanta Ltd (BO:VDAN) which lost 2.74% to settle at 202.60 and Hero MotoCorp Ltd (BO:HROM) which was down 2.22% to 3382.00 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 860 to 727 and 55 ended unchanged; on the Bombay Stock Exchange, 1373 fell and 1109 advanced, while 124 ended unchanged.

Shares in Bajaj Finance Ltd (NS:BJFN) rose to all time highs; gaining 8.01% or 201.75 to 2721.35. Shares in Bajaj Finserv Ltd (NS:BJFS) rose to all time highs; gaining 5.77% or 363.20 to 6663.95. Shares in Vedanta Ltd (BO:VDAN) fell to 52-week lows; falling 2.74% or 5.70 to 202.60. Shares in Reliance Industries Ltd (BO:RELI) rose to all time highs; rising 2.23% or 24.65 to 1128.55. Shares in Hero MotoCorp Ltd (BO:HROM) fell to 52-week lows; falling 2.22% or 76.90 to 3382.00.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 0.42% to 13.5350.

Gold Futures for August delivery was down 0.04% or 0.50 to $1223.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.32% or 0.22 to hit $68.02 a barrel, while the September Brent oil contract fell 0.18% or 0.13 to trade at $72.45 a barrel.

USD/INR was unchanged 0.00% to 68.945, while EUR/INR fell 0.04% to 80.3180.

The US Dollar Index Futures was down 0.08% at 94.90.

July 20, 2018, 10:39

Two New Players Enter Japanese Crypto Trading Market

Investing.com - Two new Japanese cryptocurrency exchanges are up and running.
Bitbox, launched by messaging app Line, offers crypto-to-crypto trading in 28 currencies, including Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
The platform supports trading in 15 languages, and is open to investors around the globe, except in the U.S. and Japan, where Line is still trying to clear regulatory hurdles.
VCTRADE, launched by financial services firm SBI Holdings, offers yen-based trading in three currencies--Ripple, Bitcoin and Bitcoin Cash.
Trading is open only to investors in Japan.
Japan made Bitcoin legal tender in 2017, triggering a surge of investor interest in cryptocurrencies.
Some 3.5 million people traded cryptocurrencies on Japan's 17 exchanges in the first quarter of this year, according to a government report.

July 20, 2018, 08:35

Philippines stocks higher at close of trade; PSEi Composite up 0.16%

Investing.com – Philippines stocks were higher after the close on Friday, as gains in the Property, Mining&Oil and Banking&Financials sectors led shares higher.

At the close in Philippines, the PSEi Composite added 0.16%.

The best performers of the session on the PSEi Composite were GT Capital Holdings Inc (PS:GTCAP), which rose 2.26% or 21.00 points to trade at 950.00 at the close. Meanwhile, Aboitiz Power Corp (PS:AP) added 2.06% or 0.75 points to end at 37.15 and JG Summit Holdings Inc (PS:JGS) was up 1.89% or 1.000 points to 54.000 in late trade.

The worst performers of the session were Aboitiz Equity Ventures Inc (PS:AEV), which fell 3.79% or 2.000 points to trade at 50.800 at the close. Metro Pacific Investments Corp (PS:MPI) declined 3.15% or 0.140 points to end at 4.300 and Security Bank Corp (PS:SECB) was down 2.36% or 5.00 points to 206.60.

Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 96 to 90 and 51 ended unchanged.

Shares in Aboitiz Equity Ventures Inc (PS:AEV) fell to 3-years lows; losing 3.79% or 2.000 to 50.800. Shares in Metro Pacific Investments Corp (PS:MPI) fell to 3-years lows; falling 3.15% or 0.140 to 4.300.

Gold Futures for August delivery was down 0.02% or 0.30 to $1223.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.29% or 0.20 to hit $68.44 a barrel, while the September Brent oil contract rose 0.90% or 0.65 to trade at $73.23 a barrel.

CNY/PHP was down 0.36% to 7.8834, while USD/PHP fell 0.17% to 53.489.

The US Dollar Index Futures was down 0.09% at 94.89.

July 20, 2018, 08:33

Gold Inches Down After Trump Comments

Investing.com - Metal prices were higher but gold inched down amid comments from U.S. President Donald Trump, who criticized the Federal Reserve for increasing interest rates.

Comex gold futures for August delivery inched down 0.04% to $1,223.50 a troy ounce as of 4:32 AM ET (8:32 GMT).

Trump said in an interview on CNBC that he does not approve of how the Fed is approaching monetary policy. The Fed raised rates twice this year and is expected to raise rates at least once more before the end of the year.

“I’m not thrilled,” Trump said. “Because we go up and every time you go up they want to raise rates again. I don't really — I am not happy about it. But at the same time I’m letting them do what they feel is best.”

Higher rates are a negative for gold as the precious metal, which does not pay interest, struggles to compete with yield-bearing assets when rates rise.

The dollar and stock market fell after Trump’s comments, with Treasury yields also declining.

The lower dollar weighed on the precious metal. Gold normally falls as the dollar rises, as it is denominated in the U.S. currency and is sensitive to moves in the dollar.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, fell 0.08% to 94.90.

Bullion becomes more expensive for holders of other currencies when the dollar rises and cheaper when it falls.

Meanwhile trade tensions continue, with the European Union expected to retaliate against the U.S. with more tariffs after America imposed tariffs on steel and aluminum in June. Tariffs on around $3.8 billion of U.S. goods have already been imposed by Europe.

Other metals were higher on the Comex, with silver futures rising 0.15% to $15.425 a troy ounce. Among other precious metals, Platinum Futures increased 1.33% to $817.00 while Palladium Futures jumped 2.26% to $885.80 an ounce. Copper futures gained 1.54% to $2.737 a pound.

July 20, 2018, 06:45

Taiwan stocks higher at close of trade; Taiwan Weighted up 0.89%

Investing.com – Taiwan stocks were higher after the close on Friday, as gains in the Semiconductor, Optoelectronic and Electronics sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted rose 0.89%.

The best performers of the session on the Taiwan Weighted were Young Optics Inc (TW:3504), which rose 10.00% or 11.00 points to trade at 121.00 at the close. Meanwhile, Calin Technology Co Ltd (TW:4976) added 9.96% or 5.30 points to end at 58.50 and Hotel Holiday Garden (TW:2702) was up 9.85% or 2.55 points to 28.45 in late trade.

The worst performers of the session were JSL Construction&Development Co Ltd (TW:2540), which fell 10.00% or 2.90 points to trade at 26.10 at the close. Walsin Technology Corp (TW:2492) declined 9.95% or 38.00 points to end at 344.00 and King Core Electronics Inc (TW:6155) was down 9.85% or 4.05 points to 37.05.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 490 to 297 and 127 ended unchanged.

Shares in Hotel Holiday Garden (TW:2702) rose to all time highs; gaining 9.85% or 2.55 to 28.45.

Crude oil for September delivery was up 0.15% or 0.10 to $68.34 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.43% or 0.31 to hit $72.89 a barrel, while the August Gold Futures contract fell 0.08% or 1.00 to trade at $1223.00 a troy ounce.

USD/TWD was down 0.00% to 30.682, while TWD/CNY rose 0.05% to 0.2215.

The US Dollar Index Futures was down 0.11% at 94.88.

July 20, 2018, 05:17

Oil Prices Edge Higher as Saudi Arabia Expects Exports to fall in August

Investing.com – Oil prices edged higher on Friday as comments that Saudi Arabia’s exports would fall in August renewed expectations for a global shortage in crude supplies.

Crude Oil WTI Futures for September delivery gained 0.2% to $68.28 per barrel at 1:22AM ET (1:22 GMT), while Brent Oil Futures for September delivery also climbed 0.17% to $72.70 for one barrel.  

Saudi Arabia's OPEC Governor Adeeb Al-Aama said in a statement that the kingdom expects crude exports to fall by about 100,000 barrels per day in August as it limits excess production.

Oil prices were also boosted on forecasts that inventories at the U.S. oil delivery hub in Cushing, Oklahoma fell 1.8 million barrels, through Tuesday, traders said, citing energy information provider Genscape.

Despite today’s gains, oil prices were set to drop for the week amid trade conflict between the U.S. and China, the world’s two biggest oil users.

"Risk sentiment is wobbling, which I believe is attributed to PBOC pushing the yuan complex lower via the fix," said Stephen Innes, head of trading APAC at OANDA brokerage

"Markets are now nervous, not only about a trade war, but also a currency war."

The Chinese yuan slumped further on Friday after the China’s central bank weakened its daily reference rate by the most since June 2016.

The USD/CNY pair traded sharply lower and tumbled to a one-year low after The People’s Bank of China (PBOC) weakened the fixing by 0.9% to 6.7671 per dollar on Friday.

Investors are concerned with the PBOC’s seeming comfort with the yuan’s slide. On July 3, Chinese central bankers pledged to keep their currency stable and to not use it as a weapon in the trade conflict with the U.S. That effort helped the yuan reverse some of its plunge earlier this month.

Traders remained concerned that lower oil demand in the U.S. and China caused by an economic slowdown from their trade war would have significant impacts on the market.

The U.S. accounted for 20.2% of global oil demand in 2017 while China consumed 13% of the world's oil last year.

July 20, 2018, 04:52

Gold Prices Slip Despite Weaker Dollar

Investing.com – Gold prices dropped to a one-year low on Friday. Despite a stock market and dollar index dip after U.S. President Donald Trump criticised the central bank’s decision in raising interest rate, which would normally signal a move higher for the yellow metal, gold prices also headed down.

Gold Futures for August delivery on the Comex division of the New York Mercantile Exchangeis fell 0.51% to a trading price of $1,217.8 each troy ounce at 11:39PM ET (03:39 GMT).

“I am not thrilled,” said Trump in an interview with CNBC on Thursday. “Because we go up and every time you go up they want to raise rates again. I don’t really – I am not happy about it. But at the same time I’m letting them do what they feel is best.”

The comment piled pressure on the U.S. Dollar Index, which saw a 0.06% decrease to $94.92 on Friday, after rising to its one-year high of $95.129 the previous session after the U.S. Federal Reserve chairman Jerome Powell made a comment earlier this week on increasing interest rates.

Suki Cooper, a precious metals analyst at Standard Charted, said, “In the current environment, gold is really struggling to garner that safe haven demand. It seems to me a lot of that has to do with the fact that we're in a physically weak period, and you normally would have a better floor for prices."

But some predict a recovery of the precious metal price.

Bart Melek, head of commodities research at TD Securities said, “Gold does have the ability of a recovery this year, and I think there's a significant risk with the [yield] curve being near inversion here that things may be slowing, and the Fed isn't going to be as aggressive into 2019. We do see a reversal of U.S. dollar, basically helping gold into next year,"

In other news, the European Union (EU) is expected to retaliate against the U.S. after the latter imposed tariffs on European steel and aluminum in June. The EU has already imposed import tariffs on 2.8 billion euros (US$3.8 billion) worth of US products.

Cecilia Malmstrom, the EU’s trade commissioner, said, “We are preparing together with our member states a list of rebalancing measures there as well. And this we have made that clear to our American partners.”

July 20, 2018, 04:32

Crypto Prices Mixed; Powell Says Digital Money Not likely to pose a Threat

Investing.com – Cryptocurrencies prices were mixed on Friday, with Bitcoin trading slightly below the $7,500 mark after a rally earlier this week.

Bitcoin was trading at $7,456.8 by 12:31AM ET (04:31 GMT) on the Bitfinex exchange, up 1.8% in the last 24 hours.   

Ethereum, the world’s second largest cryptocurrency by market cap, lost 2.1% to $465.5 on the Bitifinex exchange.     

XRP/USD’s XRP token was down 2.4% to $0.46670 on the Poloniex exchange. 

Meanwhile, Litecoin slipped 0.6% and traded at $85.763. 

Federal Reserve Chairman Jerome Powell said on Wednesday that cryptocurrencies-related concerns are not his priority at the moment. The cryptocurrency market, estimated to be valued at around $300 billion, is not big enough to pose a threat, and the U.S. central bank isn’t looking to regulate it, Powell said during the testimony on Wednesday.

Powell then clarified that while the Fed has said in the past that it would monitoring the development of cryptocurrencies, it does not have jurisdiction over them, and is not currently looking to to provide oversight. He added that the Securities and Exchange Commission and Commodity Futures Trading Commission, as well as state authorities would continue to oversee crypto-related businesses.

In other news, U.S. Congressman Brad Sherman’s comment raised some eyebrows as he called for an investigation of the crypto industry and said that the U.S. should prohibit its citizens from buying or mining cryptocurrencies. He claimed, not for the first time, that other than crypto being used by criminals and potential tax evaders, it could also be used by rogue states that sought to bypass sanctions by the US government.

He made his comments during a subcommittee hearing on Wednesday.

July 20, 2018, 04:03

Yuan Slides After China Weakens Fixing by Most in Two Years; Dollar Falls

Investing.com – The yuan slumped further on Friday after the China’s central bank weakened its daily reference rate by the most since June 2016.

The USD/CNY pair traded sharply lower and tumbled to a one-year low after The People’s Bank of China (PBOC) weakened the fixing by 0.9% to 6.7671 per dollar on Friday.

Investors are concerned with the PBOC’s seeming comfort with the yuan’s slide. On July 3, Chinese central bankers pledged to keep their currency stable and to not use it as a weapon in the trade conflict with the U.S. That effort helped the yuan reverse some of its plunge earlier this month.

Nomura Holdings Inc. said in a note on Thursday that the decline in the yuan could soon turn to boom should the People’s Bank of China shift toward stimulus mode in the world’s no. 2 economy.

“As Chinese financial conditions further deteriorate and market stress worsens, we actually perversely push closer to the risk-asset positive outcome of escalated PBOC stimulus and easing measures,” said Charlie McElligott, a strategist with Nomura’s equities group. “Essentially, we are nearing the pain-point of the ‘PBOC Put.’”

“An additional ‘right tail’ scenario is that the worse things get in China in the near-term, the more likely it is that we too could see Chinese concessions in the trade war with the U.S.,” he wrote. That “could destroy market tension and volatility and drive a gap higher in risk sentiment,” he said.

Meanwhile, the U.S. Dollar Index, which tracks the greenback against a basket of other currencies, slipped 0.06% to 94.92 on Friday after U.S. President Donald Trump criticized the Federal Reserve for raising interest rates.  

Trump said he is “not thrilled” with the Fed’s plan to raise rates four times this year and expressed concerns that the work he has done would be nullified.  

Fed officials, including Chairman Jerome Powell, have raised interest rates twice this year so far and have pointed to two more before the end of 2018. 

“I’m not thrilled,” Trump said in an interview with CNBC. “Because we go up and every time you go up they want to raise rates again. I don't really — I am not happy about it. But at the same time I’m letting them do what they feel is best.” 

“But I don’t like all of this work that goes into doing what we’re doing,” Trump added.

July 19, 2018, 08:25

Canada stocks higher at close of trade; S&P/TSX Composite up 0.31%

Investing.com – Canada stocks were higher after the close on Thursday, as gains in the Industrials, IT and Utilities sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite gained 0.31%.

The best performers of the session on the S&P/TSX Composite were TransCanada Corporation (TO:TRP), which rose 5.43% or 3.06 points to trade at 59.43 at the close. Meanwhile, Guyana Goldfields Inc . (TO:GUY) added 4.75% or 0.190 points to end at 4.190 and BlackBerry Ltd (TO:BB) was up 4.33% or 0.57 points to 13.73 in late trade.

The worst performers of the session were First Quantum Minerals Ltd . (TO:FM), which fell 7.48% or 1.43 points to trade at 17.69 at the close. Parex Resources Inc (TO:PXT) declined 5.47% or 1.340 points to end at 23.170 and Aphria Inc (TO:APH) was down 4.62% or 0.520 points to 10.730.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 579 to 499 and 122 ended unchanged.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 12.51% to 11.96.

Gold Futures for August delivery was down 0.41% or 5.00 to $1222.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.46% or 0.31 to hit $68.06 a barrel, while the September Brent oil contract fell 0.38% or 0.28 to trade at $72.62 a barrel.

CAD/USD was down 0.71% to 0.7544, while CAD/EUR fell 0.72% to 0.6477.

The US Dollar Index Futures was up 0.12% at 94.95.

July 19, 2018, 08:25

U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.53%

Investing.com – U.S. stocks were lower after the close on Thursday, as losses in the Telecoms, Basic Materials and Financials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 0.53%, while the S&P 500 index declined 0.40%, and the NASDAQ Composite index fell 0.37%.

The best performers of the session on the Dow Jones Industrial Average were International Business Machines (NYSE:IBM), which rose 3.27% or 4.72 points to trade at 149.24 at the close. Meanwhile, Walt Disney Company (NYSE:DIS) added 1.30% or 1.44 points to end at 112.13 and Home Depot Inc (NYSE:HD) was up 0.83% or 1.66 points to 202.63 in late trade.

The worst performers of the session were The Travelers Companies Inc (NYSE:TRV), which fell 3.71% or 4.82 points to trade at 125.18 at the close. American Express Company (NYSE:AXP) declined 2.73% or 2.81 points to end at 100.17 and Walgreens Boots Alliance Inc (NASDAQ:WBA) was down 1.86% or 1.23 points to 64.93.

The top performers on the S&P 500 were Snap-On Incorporated (NYSE:SNA) which rose 9.50% to 173.29, Dover Corporation (NYSE:DOV) which was up 5.30% to settle at 78.12 and Danaher Corporation (NYSE:DHR) which gained 4.47% to close at 103.20.

The worst performers were eBay Inc (NASDAQ:EBAY) which was down 10.12% to 34.11 in late trade, Freeport-McMoran Copper&Gold Inc (NYSE:FCX) which lost 7.49% to settle at 15.80 and Fifth Third Bancorp (NASDAQ:FITB) which was down 6.38% to 28.31 at the close.

The top performers on the NASDAQ Composite were Schmitt Industries Inc (NASDAQ:SMIT) which rose 29.58% to 3.110, AC Immune Ltd (NASDAQ:ACIU) which was up 21.48% to settle at 14.31 and Adomani Inc (NASDAQ:ADOM) which gained 20.62% to close at 0.78.

The worst performers were Mersana Therapeutics Inc (NASDAQ:MRSN) which was down 31.59% to 11.26 in late trade, AGM Group Holdings Inc Class A (NASDAQ:AGMH) which lost 19.30% to settle at 13.84 and Resources Connection Inc (NASDAQ:RECN) which was down 17.20% to 14.20 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1787 to 1264 and 114 ended unchanged; on the Nasdaq Stock Exchange, 1394 rose and 1152 declined, while 142 ended unchanged.

Shares in eBay Inc (NASDAQ:EBAY) fell to 52-week lows; down 10.12% or 3.84 to 34.11. Shares in Schmitt Industries Inc (NASDAQ:SMIT) rose to 52-week highs; up 29.58% or 0.710 to 3.110. Shares in Mersana Therapeutics Inc (NASDAQ:MRSN) fell to all time lows; losing 31.59% or 5.20 to 11.26.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 5.87% to 12.81.

Gold Futures for August delivery was down 0.42% or 5.10 to $1222.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.46% or 0.31 to hit $68.06 a barrel, while the September Brent oil contract fell 0.40% or 0.29 to trade at $72.61 a barrel.

EUR/USD was up 0.04% to 1.1644, while USD/JPY fell 0.35% to 112.45.

The US Dollar Index Futures was up 0.14% at 94.97.

July 19, 2018, 08:15

Colombia stocks lower at close of trade; COLCAP down 0.31%

Investing.com – Colombia stocks were lower after the close on Thursday, as losses in the Financials, Investment and Industrials sectors led shares lower.

At the close in Colombia, the COLCAP lost 0.31%.

The best performers of the session on the COLCAP were Canacol Energy Ltd (CN:CNE), which rose 2.30% or 210.0 points to trade at 9350.0 at the close. Meanwhile, Conconcret (CN:CIC) added 0.90% or 7.0 points to end at 787.0 and Grupo Argos SA (CN:ARG) was up 0.51% or 100.0 points to 19600.0 in late trade.

The worst performers of the session were Banco Davivienda Pf (CN:DVI_p), which fell 0.92% or 340.0 points to trade at 36520.0 at the close. Grupoaval (CN:GAA) declined 0.85% or 10.0 points to end at 1165.0 and Avianca Holdings Pf (CN:AVT_p) was down 0.81% or 20.0 points to 2440.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 14 to 8 and 7 ended unchanged.

US coffee C for September delivery was up 0.46% or 0.50 to $108.58 . Elsewhere in commodities trading, US cocoa for delivery in September fell 1.18% or 27.50 to hit $2308.00 , while the August Gold Futures contract fell 0.44% or 5.40 to trade at $1222.50 a troy ounce.

USD/COP was up 0.63% to 2883.50, while BRL/COP rose 0.71% to 750.13.

The US Dollar Index Futures was up 0.17% at 95.00.

July 19, 2018, 06:45

Crude Oil Prices Settle Higher on Report of Falling US, Saudi Supplies

Investing.com – Crude oil prices settled higher Thursday as data showing U.S. crude supplies fell and comments that Saudi Arabia's exports would fall in August renewed expectations for a global shortage in crude supplies.

On the New York Mercantile Exchange crude futures for August delivery rose 1% to settle at $69.46 a barrel, while on London's Intercontinental Exchange, Brent fell 0.33% to trade at $72.66 a barrel.

U.S. crude prices were boosted on forecasts that inventories at the U.S. oil delivery hub in Cushing, Oklahoma fell 1.8 million barrels, through Tuesday, traders said, citing energy information provider Genscape.

That prompted oil observers to renew bets on a global oil supply shortage as Saudi Arabia's OPEC Governor Adeeb Al-Aama said in a statement that the kingdom expects crude exports to fall by about 100,000 barrels per day in August as it limits excess production.

Investors had scaled back expectations for a global oil supply shortage in recent weeks as Libya resumed exports and the U.S. softened its stance on Iranian crude buyers.

"We want people to reduce oil purchases to zero, but in certain cases if people can't do that overnight, we'll consider exceptions," Mnuchin told reporters on Friday, Reuters reported. The comments were not released until Monday morning.

The uptick in oil prices comes a day after data showed inventories of U.S. crude rose by 5.836 million barrels for the week ended July 13, confounding expectations for a draw of 3.622 million barrels.

The unexpected build in crude supplies came as imports fell by 1.635m barrels a day (bpd), and output rose to a record 11 million bpd.

July 19, 2018, 05:25

Dollar Turns Negative as Trump Says 'Not Happy' About Fed Rate Hikes

Investing.com – The dollar reversed course against its rivals Thursday after U.S. President Trump said he was "not happy" about Federal Reserve rate hikes but downside was limited amid optimism over the U.S. economy.

The U.S. dollar index, which measures the green against a trade-weighted basket of six major currencies, fell by 0.08% to 94.75, after hitting a session high of 95.44.

"I'm not happy about it," President Donald Trump said about interest-rate increases during an interview with CNBC Thursday, claiming that "higher rates put us [United States] at a disadvantage." Trump insisted, however, that he would let the "Fed do what they feel is best."

The comments scaled back some investor optimism over a faster pace of rate hikes which had followed bullish comments from Federal Reserve chair Jerome Powell earlier in the week.

Powell said gradual interest rate hikes would be "the best way forward" for the economy, citing stronger labor markets, and inflation that had met the Fed's 2% objective.

Downside in the dollar limited, however, as positive economic data reaffirmed investor expectations the economy remained on solid footing.

The U.S. Department of Labor reported Thursday that initial jobless claims dropped by 8,000 to a seasonally adjusted 207,000 for the week ended July 14, beating economists’ forecast for a drop to 220,000.

The Philadelphia Fed said Thursday its manufacturing index rose to a reading of 25.7 in July from 19.9 in June.

GBP/USD fell 0.23% to $1.3039, after plunging below $1.30 earlier as UK retail sales undershot expectations, denting the prospect for an August Bank of England rate hike.

EUR/USD rose 0.25% to $1.1668 while USD/CAD rose 0.52% to $1.3237.

Safe-haven currencies were in demand as the yen and Swiss franc rose against the greenback on the back of renewed concerns about an escalation in the U.S.-China trade war.