Trump, data weigh on dollar after worst fall since July

Trump, data weigh on dollar after worst fall since July

Trump, data weigh on dollar after worst fall since July

After the market's violent election night reaction, stocks have more or less moved up and to the right unabated, with the political chaos roiling Washington, D.C. seeming to have little impact on financial markets. Losses for the loonie came even as prices of oil, one of Canada's major exports, climbed.

Brent crude slipped 0.3 percent to $52.05 a barrel. Gasoline and distillate stocks also dropped.

The US dollar index against a basket of major currencies was down 0.1 per cent at 97.498, not far from a six-month trough of 99.333 reached the previous day. It traded at $1.2957 on Thursday. The currency, which has gained 0.6 percent this week, traded in a range of C$1.3580 to C$1.3638. It hit session high at 112.51 and made session lows at 110.88 levels. News emerged on Tuesday that Trump had asked his now-dismissed FBI chief James Comey to end the agency's investigation into ties between former White House national security adviser Michael Flynn and Russian Federation.

"Some politicians might try to begin the impeachment process, and if they do, that would take much time to carry it out, and while it is ongoing, it would be nearly impossible to push fiscal stimulus through", said Masashi Murata, currency strategist for Brown Brothers Harriman in Tokyo, noting that it took nearly two years for the Bill Clinton impeachment process to proceed though Congress.

The memo raises questions about whether Trump tried to interfere with a federal investigation at a time when investors were beginning to doubt that his administration would be able to get a divided U.S. Congress to support its promised policy steps.

It fell to a three-week low of 110.53 yen on Thursday before bouncing back a tad to 111.09 yen, up 0.3 per cent from late U.S. levels, on Japanese bargain-hunting. Earlier these were worries associated with the political situation in the European nation after the BREXIT and Canada planning to move out of the European nation and also issues in North Korea.

The stunning reports - denied by the White House - deepened the political turmoil engulfing Trump's White House and intensified concerns among investors about the president's ability to push through his big economic plans. The Dow Jones Industrial Average lost 372.82 points, while the Nasdaq Composite Index plunged 2.6 per cent for its steepest drop since June 24.

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Afterward few said any new information emerged about the increasingly tense U.S. standoff with Pyongyang. Kislyak is a major figure in the investigation of Russian interference. "I can't really answer that".

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Juppe welcomed the move, wishing him good luck and telling reporters Philippe has "all the qualities needed for this hard job". Shortly after Philippe's appointment, Macron was scheduled to travel to Berlin on his first foreign trip as French leader.

US Navy ship collides with South Korean fishing boat
Navy has patrolled the Indo-Asia-Pacific routinely for more than 70 years promoting regional peace and security. The master claimed he did not see the Lake Champlain until it was too late.

U.S. Treasury yields were on track on Wednesday for their biggest daily percent drop since July as concerns grew that allegations against U.S. President Donald Trump would delay his efforts to cut taxes and increase infrastructure spending. The euro hit its highest level since November 7.

The yield on 10-year treasury notes fell 4.5 percent to 2.221.

The yield curve between two-year notes and 10-year notes flattened to the lowest level since November 3 as investors reached for longer duration bonds.

In commodity markets, safe-haven gold hit a two-week high, while oil prices were higher.

In currencies, the US dollar nursed deep losses after a weak manufacturing report trimmed expectations of a Federal Reserve rate increase next month, a key factor behind the dollar's gains in recent weeks.

Spot gold hit US$1,263.02 an ounce, its highest since May 1. It was on track for its biggest one-day gain since June 2016.US gold futures settled up 1.8 percent at$1,258.70.

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