Fed eyes September debt drawdown; some want 'patient' on rates

Dollar little changed vs. rivals with FOMC meeting minutes on tap

Dollar little changed vs. rivals with FOMC meeting minutes on tap

Gold rose for a second day on Thursday after Federal Reserve officials hinted that U.S. interest rates could rise more slowly than expected, while palladium was lifted to a 16-year high by strong industrial metals markets.

That came after Federal Reserve Bank of Dallas President Robert Kaplan said Friday that he wanted to "see more evidence" of firming inflation before raising interest rates.

Amid steady job creation and the falling jobless rate, the Fed has dismissed weak price pressures, blaming them on one-off "transitory" and "idiosyncratic" factors, such as falling mobile phone plan and medication prices.

- The Dow Jones Industrial Average rose 0.1 percent to 22,024.46, the Nasdaq Composite index gained 0.2 percent and the small-cap Russell 2000 index was essentially unchanged.

Financial markets expect that announcement at next month's meeting.

The yield on U.S. 10-year Treasuries fell to levels reached yesterday, at lows of 2.222 per cent at the time of writing after the minutes were released. The S&P 500 lost 7.62 points, or 0.30 percent, to 2,460.49.

The euro fell 0.5 percent to 1.1706 against the greenback after gaining 0.1 percent to $1.17820 in early Asian trade, and regaining from prior day's losses of $1.1681, its lowest level in nearly three weeks, while the British pound declined by 0.1 percent to 1.2864. This news made the U.S. Dollar a less attractive investment, encouraging investors to sell the Greenback against all major currencies.

No war on Korean peninsula: South Korean President Moon Jae
Lobbing missiles toward Guam, a major USA military hub in the Pacific, would be deeply provocative from the US perspective. Moon was elected in May after a near-decade of conservative rule that saw animosity deepen between the rival Koreas.

Campbell Soup Co. added 0.5% and 3M Co. rose 0.4% after chief executives of the two companies stepped down from Trump's manufacturing initiative.

Treasury yields reached one-week peaks earlier Wednesday in line with their European counterparts on stronger-than-forecast annual growth in the eurozone.

The dollar fell 0.29% to trade at 93.47 while the US 10-Year traded lower at 2.236.

- Britain's 10-year yield gained two basis points to 1.105 percent, the highest in a week.

Oil prices fell more than 1 percent on Wednesday even though US crude stockpiles declined by the most in a year, as data suggesting domestic production was edging higher stoked worries about the global crude glut.

Benchmark zinc on the London Metal Exchange CMZN3 set a new decade high of $3,145 a tonne on Thursday, and was last up 0.2 percent from its previous close at $3,126.

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