This week investors will get the chance on Wednesday to parse through the minutes of the Federal Reserve’s August meeting, when it left interest rates unchanged and indicated that it remains on track for additional rate hikes this year.
With another fairly light week on the economic calendar investors will continue to monitor developments on trade and Turkey. Wednesday’s U.S retail sales report will be eyed, amid expectations for an increase in July from the previous month.
Gold opened on Friday virtually unchanged, at 1212.50/1213.50. After the open, the metal climbed to a high of 1216.75/1217.75 before declining on selling interest as the dollar index rose to a 5-week high with the Turkish lira
EURUSD (1.1460) • The EUR is weak, trading below 1.15 for the first time in a little over a year. Spot fell around a cent in illiquid, friday overnight trading amid press reports focusing on European bank exposure to Turkey.
There aren’t many major events on the economic calendar this week, but there will still be a few events to watch out for. Friday will see an update on consumer prices for July, which will be the week’s most closely watched U.S. data release.
The rupee settled higher at 68.61 to a dollar from 68.70 at previous close. It fell to the day's low of 68.84 before recovering losses after China announced measures to stabilize yuan in late trade and on exporters' dollar sales ahead of the weekend.