Dollar Rallies As Irma, North Korea Fears Calm

Dollar Rallies As Irma, North Korea Fears Calm

Dollar Rallies As Irma, North Korea Fears Calm

Three major USA indexes rose more than 1 percent on Monday as Irma's downgrade to a tropical storm eased concerns about its impact on economic growth, and as North Korea refrained from any missile tests over the weekend, as feared.

European shares rose in early trading. The blue-chip index closed down 0.3%, or 19.38 points, at 7,377.60 on Friday.

It is too soon to predict when the Federal Reserve should next raise USA interest rates as it continues to tighten policy, given "cross currents" in the economy and markets, New York Fed President William Dudley had said on CNBC TV on Friday. The Dow Jones Industrial Average rose 157.28 points, or 0.72%, to 21,955.07.

PYONGYANG PARTY: North Koreans observed the country's 69th founding anniversary with celebrations that included laying flowers and bowing at statues and portraits of past leaders.

"Investors will also be keen to assess the potential damage in the wake of Hurricane Irma as it continues to savage Florida with wind speeds of up to 150mph and storm surges of 15 feet", CMC's Hewson adds. On early Monday, Irma continued to thrash the state, after slamming the Keys, Miami and other areas nearby in recent days.

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The Frenchman also praised the performance of Danny Welbeck , who scored twice in Arsenal's 3-0 win over Bournemouth . However, they have won their last six league games at the Emirates, scoring a total of 15 goals .

"The lack of hostilities in relation to North Korea and the downgrading of Hurricane Irma to a category one storm has prompted traders to buy back into the market", said market analyst David Madden at CMC Markets UK.

MARKET INSIGHT: "This weekend was a case of the dog that didn't bark, or at least, not very loudly", said Rob Carnell, head of Asia research at ING.

The Nasdaq Composite.IXIC was up 63.32 points, or 1 percent, at 6,423.51.

Stocks rose sharply on Monday, Sept. 11, as Hurricane Irma's preliminary damage wasn't as devastating as some had predicted and North Korea didn't perform any nuclear tests over the weekend.

The group was up 0.6 percent, with Brookfield Asset Management rising 1.7 percent to C$48.18, Fairfax Financial Holdings Ltd advancing 2.5 percent to C$611.29.

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Around 600 USA troops taking part in military drills in Japan are said to be "ready" to react to any provocation from North Korea. The statement says both leaders stressed that the worldwide community has condemned North Korea's "provocations".

Dollar-yen USDJPY, +0.73% changed hands at ¥108.55 Monday compared to ¥107.84 late Friday in NY. Southeast Asian benchmarks rose but Taiwan's index lost ground.

In foreign exchange, the European single currency was trading down at $1.1978 compared with $1.2030 late in NY on Friday. The U.S. currency rose to 108.48 yen from 107.84 yen on Friday.

ENERGY: Oil futures were mixed.

The risk on sentiment will likely see the Euro remain on the back foot through the remainder of the day, which could see the Euro give up $1.20 levels early in the session, with the only consideration for the day being any possible friction between the North Korean's and the U.S, though a war of words is more palatable than actual missile or nuclear tests, as far as the markets are concerned. Brent crude, used to price global oils, slipped 5 cents to $53.73 a barrel in London.

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These panels are purchased at a price that twice more than what Apple is paying for LCD panels for iPhone 8 and iPhone 8 Plus. The report further said that they have received a box shot from the Royal Dutch telecom provider KPN.

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