Metals: Gold Continues Rise After Fed Minutes Show Division

A Peek Into The Markets U.S. Stock Futures Rise All Eyes On Fed Minutes

Minutes released Wednesday from the Fed's July meeting showed a divide among central bankers about whether sluggish inflation is.

The minutes said "some participants... argued against additional adjustments" until the Fed was sure that inflation was on track to meet its 2% target.

Wall Street closed slightly firmer on Wednesday but off the day's highs after Federal Reserve minutes suggested policymakers are anxious about weak inflation but eager to commence an unwind of its $4.5 trillion asset portfolio.

The Dow Jones Industrial Average is up by 0.21%, and the S&P 500 was up to 0.19%.

Signs of central bank caution came as President Donald Trump dissolved two business advisory groups, sowing further doubts over his ability to deliver growth-boosting spending plans he promised when elected.

US stocks ended higher, the dollar fell and Treasuries advanced Wednesday as Federal Reserve meeting minutes showed that officials are concerned about inflation remaining persistently low.

Fed is also set to start trimming down its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities.


"There's no change in market expectations that the Fed will announce the start of balance sheet reduction in September". Mainland markets were also positive: The Shanghai Composite rose 0.44% and the Shenzhen Composite was higher by 0.13%.

"Maybe they're a little more malleable in their views than a lot of people thought", said Nathan Thooft, head of asset allocation at Manulife Asset Management in Boston. The UK's FTSE index was trading higher by 0.68 percent, while French CAC 40 Index rose 1.05 percent.

The dollar index .DXY fell 0.36 percent, with the euro EUR= up 0.27 percent to $1.1765.

Selling of the US unit continued into Tokyo trading, pushing it down as low as below ¥109.70.

The U.S. Dollar responded by erasing all of its early gains to close lower and gold rebounded to close higher after early session weakness.

"Many participants, however, saw some likelihood that inflation might remain below two percent for longer than they now expected, and several indicated that risks to the inflation outlook could be tilted to the downside", the minutes said. Across the Korean strait, the Kospi advanced 0.49% as steel stocks rose on optimism about third-quarter earnings.

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